Hints and tips:
...Assured Guaranty provides a niche type of insurance that pays out to lenders if a borrower defaults on its loans....
...It is that the general underlying thought behind the use of the word “guaranty” with respect to bank deposits is that you guaranty bad banks as well as good banks and the minute the government starts to...
...It's the insurance company that has failed to collect the proper documentation. It's the ship registry that maybe didn't peek behind the curtain a little bit more....
...By last year, the financial condition of many plans had become so dire that the federal programme to provide back-up insurance to beneficiaries was itself projected to become insolvent by 2026....
...They were also behind a blank-cheque acquisition company that bought the life insurer Fidelity & Guaranty Life for $1.8bn in 2017....
...The financial crisis did not work out well for companies which sold specialist insurance on bonds....
...Last May private equity group Blackstone joined the fray, joining a consortium that bought Fidelity & Guaranty Life for $1.8bn....
...Mr Kandarian — the former head of the Pension Benefit Guaranty Corporation, a federal agency that safeguards retirement schemes — said the episode was “especially distressing to me” and “deeply embarrassing...
...FGL was not back on the market long when on Tuesday, it was purchased for $1.8bn by a shell company, CF Corp, that bears Blackstone’s imprimatur....
...But Blackstone is a key investor in the CF Corp shell company....
...Now Arch is expanding into the mortgage business with an agreement this month to buy United Guaranty Corp (UGC) from AIG, a $3.4bn deal that will make the Bermuda-based group the biggest private mortgage...
...AIG is in talks to sell its mortgage insurance business to Arch Capital for about $3bn instead of launching it on the stock market, as chief executive Peter Hancock accelerates plans to simplify the group...
...The biggest US insurer by market value had been planning to float a 20 per cent stake in United Guaranty Corporation (UGC) before offloading the North Carolina-based mortgage business in full....
...Also, a big motivation for a US company doing a buyout is that it gets it off the hook from paying premiums into the Pension Benefit Guaranty Corp, a backstop that protects retirees if their former employer...
...AIG’s initiatives include a partial listing of its mortgage insurance arm, United Guaranty. A stake of 20 per cent would be floated, as a “first step towards a full separation”....
...The bad news is that without a crisis we do not tend to make those repairs,” added Mr Millard, who used to run the US government’s pension protection agency, the Pension Benefit Guaranty Corp....
...These include the Bermuda-based insurance companies Maiden Holdings, Assured Guaranty, Axis Capital Holdings, Validus Holdings and Aspen Insurance Holdings....
...PMI Group and Triad Guaranty filed for bankruptcy protection, leaving Genworth, Radian Group, United Guaranty, Mortgage Guaranty Insurance Corporation (MGIC) and Arch as the “legacy” survivors with mortgage...
...The bank said on Wednesday it had agreed a new $950m settlement with the Financial Guaranty Insurance Company and Bank of New York Mellon over the mis-selling of mortgage-backed securities....
...Assured Guaranty Municipal Corp and National Public Finance Guarantee Corp allege that the city is “unlawfully diverting voter-approved” taxes meant for “the sole purpose of paying principal and interest...
...MBIA, through its subsidiary National Public Finance Guarantee Corp, has insured $5.3bn of Puerto Rican municipal debt; Assured backstops $5.5bn....
...Assured Guaranty, the bond insurer, unveiled a new, um, bond insurer last week. Called Municipal Assurance Corp, or MAC, it will insure US municipal bonds....
...Executives at MBIA and Assured Guaranty have relaunched their municipal bond insurance businesses, arguing that losses in Detroit will be small and that the risks highlighted by the city’s fall from grace...
...BofA had claimed it was owed insurance payouts on soured mortgages....
...,” said Nick Proud, UK chief executive of Assured Guaranty....
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