Bond insurance

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.

After leaving Assured Guaranty in 2011, Randy Gerardes is now back with the firm.

The two active municipal bond insurers wrapped $25.22 billion in the first three quarters of 2020, a 62% surge from the $15.57 billion of deals done in the first nine months of 2019.

Build America Mutual has extended its GreenStar program to include non-insured deals as well as also being placed on the Nasdaq Sustainable Bond Network.

The impact of COVID-19 has had a positive outcome for the bond insurers, as use of municipal bond insurance has surged 44.2% year-over-year for the first half of 2020.