CIFG Holdings Ltd. yesterday announced it had finalized deals to commute approximately $12 billion in structured finance exposures and to have Assured Guaranty Corp. reinsure $13 billion of its U.S. public finance portfolio.

In addition, John Pizzarelli stepped down as CIFG Holdings chief executive officer, after joining the firm from MBIA Insurance Corp. in December 2007. Larry P. English, head of his own turnaround firm, will take over as chief executive officer.

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