Bond insurance

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.

The bond insurer adds a second office in the Lone Star State, where it does a large volume of business.

The judges should rule soon on insurer suits seeking monetary compensation against major bond underwriters.

As issuance rose in 2020, so did municipal bond insurance usage, with $34.167 billion wrapped, or 7.5% insured total issuance from almost 5.7% in 2019.