BAM Opens Austin Office to Support Texas Municipal Bond Activity Managing VP Greg Pacifico Continues to Lead TX Public Finance AUSTIN, TEX., April 14, 2023 – Build America Mutual, the U.S. municipal-only bond insurer, announced the opening of its third regional office in Austin, primarily to support new-issue activity in the fast-growing state and … Continued
Kroll Bond Rating Agency upgraded its rating on Fidus Re’s $100 million Series 2018-1 Notes (Fidus I) to AA+ and affirmed its AA rating on Fidus Re’s $150 million Series 2021-1 Notes (Fidus II). The transactions were sold to fund collateralized excess-of-loss reinsurance agreements that provide additional claims-paying resources for Build America Mutual.
This International Women’s Day, BAM celebrates the contributions of women, honors their accomplishments, and reaffirms our commitment to creating a more equal and just society for all. We also recognize that there is still much work to be done to achieve gender equality. We remain committed to doing our part by promoting diversity and inclusivity within our company and actively supporting initiatives that empower women and advance gender equality.
Build America Mutual today published its 2022 statutory financial results. Par insured totaled $16 billion and claims-paying resources were $1.42 billion as of December 31, 2022, including $150 million from the fully collateralized reinsurance transaction BAM closed with Fidus Re in November.
Build America Mutual takes this opportunity to celebrate contributions from our African American colleagues, counterparties and members within the public finance industry.
Please join BAM and our colleagues as we commemorate Dr. Martin Luther King Jr.’s legacy to establish civil and economic equality for all. BAM and its DEI Committee encourages all to celebrate the holiday by performing individual acts of kindness through service to others.
Veteran health care analyst Martin Arrick has joined BAM as Head of Health Care to lead an initiative to expand coverage and analytical capacity for insuring nonprofit hospital systems in the U.S., primarily to serve investors in the secondary market. Mr. Arrick was formerly a managing director and healthcare group leader for S&P Global Ratings.
Build America Mutual, the only mutual, U.S. municipal-only bond insurer, today published its Third Quarter 2022 statutory financial results, showing $13.5 billion par insured and $109 million in total premiums, BAM’s strongest nine-month results on record. BAM also announced that it completed a $150 million, fully collateralized reinsurance agreement with Fidus Re Ltd. this week.
November is Native American Heritage Month, and Build America Mutual, and our associates are taking the opportunity to recognize and celebrate the achievements of our Native American colleagues, counterparties, and members.
Please join us as we celebrate all the fundamental contributions of disabled Americans in the workforce.
Celebrando a nuestros colegas y asociados hispanos/Latinx
S&P Global Ratings has published its full annual report on Build America Mutual and affirmed BAM’s AA rating and Stable outlook, the highest rating S&P assigns to any active bond insurer.