Bond insurance

Morgan Fahy has joined BAM’s capital markets team from Citigroup.

Municipal bond insurers are seeing the most business since the global financial crisis of 2008 crushed the sector.

Bond insurance grew to 8.4% of total market par covered in the first half of 2021.

Weill was involved in the municipal bond insurance industry from its inception in the late 1960s, as well as the original entrepreneurial group that created MBIA and its predecessors.

Officials from the Westchester County city and ACA Financial Guaranty disagree over who is on the hook for revenue bonds that aren't generating enough revenue.

Over the years, Assured Guaranty has been open to guaranteeing in the U.K. and most of Europe, Australia, and New Zealand and through AGM in the U.S. they cover certain transactions within the Latin American region.

Bank of America, JPMorgan, Goldman Sachs, Citigroup, UBS, Morgan Stanley, RBC, and Santander are defendants.

A total of $14.8 billion of par has been wrapped by bond insurance through May of this year, compared to $9.76 billion through the end of May 2020.

Shea, a veteran of the municipal bond business, joins the insurer's board. She will serve on its audit and environmental and social responsibility committee.

Bond insurers grew their business in Q1 2021 to $8.497 billion from $4.826 billion in Q1 2020 as more investors demand and issuers purchase insurance for their deals in the COVID-19 era.