Bond insurance

Bond insurers and legal counsel battled for share of a smaller market as Assured Guaranty and Orrick Herrington & Sutcliffe LLP stayed atop the rankings.

The district priced debt Thursday at narrower spreads than it faced in a November sale.

Build America Mutual's Les Richmond said that state and local governments might want to consider their disclosure obligations in the light of the more robust risk assessments they'll soon begin getting from their actuaries.

The top players maintained their positions atop the league tables, building their shares of a shrinking market.

Build America Mutual, the only mutual insurer of U.S. municipal bonds, has a collateralized reinsurance agreement with Fidus Re Ltd. that will also add to its internal growth.

A federal judge dismissed a suit over Buena Vista’s bonds, but an appeal will put the city's moral obligation pledge on trial again.

The insurer wants more time to develop land it received as part of the city's bankruptcy exit.

Assured is pursuing a strategy of investment beyond its core financial guaranty business, to diversify revenue sources.

Assured said its fourth-quarter profit fell on lower earnings from bond refunding and a one-time effect of the new tax law, even as the company's share value surged to record levels.

Even though interest rates have not risen as fast as the bond insurance industry hoped for, and 2017 saw the contraction of an active insurer, the bond insurance wrap remains relatively stable in terms of market share.

Build America Mutual's 2017 and fourth quarter financial results show gains.

Syncora will pay $350 million under the agreement, which doesn't include any Puerto Rico exposure.

Dewey, a former managing director at Citi’s municipal bond division, instinctively understands the needs of some of the largest investors in the muni market, according to BAM CEO Sean McCarthy.

Laura Taylor Swain ruled that holding a lien isn't enough at this time to require ordering bond payments be made.

Assured Guaranty and Orrick, Herrington & Sutcliffe LLP took advantage of a surge in issuance in the final two months of 2017 to solidify advantages over rival bond insurers and counsel.

Build America Mutual is bringing on a strategic advisory committee to help expand use of insurance in the muni market.

The par value of bonds guaranteed by BAM rose 3.4% from the third quarter last year, even as overall market new-issue volume fell 16%.

The largest municipal bond insurer said third-quarter net income fell 57% due to an increase in loss reserves for Puerto Rico hurricane damage.

Orrick, Herrington & Sutcliffe and Assured Guaranty retained their positions in third-quarter rankings, while Build America Mutual rebounded from a stint on negative credit watch to capture its typical market share.

The bond insurers withdrew their challenge of the island's fiscal plan, citing Hurricane Maria.