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A Unique Utility Serving The Municipal Market

BAM is a mutual bond insurance company that operates for the benefit of its mutual members - the cities, states and other municipal entities that use our AA financial guaranty. Managed to maintain strong capital resources and ratings stability, BAM is not subject to pressure from equity holders for dividend payouts or stock buybacks.

Under our mutual charter, BAM can only insure municipal bonds. A primary goal is to achieve substantial interest cost savings for municipal issuers by offering a highly rated financial guaranty that investors will value because it provides certainty of scheduled payments of principal and interest and enhances market liquidity.

BAM's insured portfolio is backed with more than $600 million of claims-paying resources, and that total grows as the company continues to insure new bonds. BAM’s capital is further protected by first-loss reinsurance that will pay up to 15% of the face value of each insured issue. The combination of BAM’s low risk business, low single risk limits and strong capital resources results in exceptionally low operating leverage on an absolute and risk-adjusted basis.

To assure the highest level of financial transparency, BAM publishes financial statements providing balance sheet information. We also provide BAM Credit Profiles on each issue insured. The profiles are easily accessible by CUSIP, obligor, state or sector and updated at least annually. This information will assist broker-dealers in meeting disclosure requirements.

Financial Statements & Operating Supplements

BAM posts financial statements as they are filed with the New York Department of Financial Services.

Statutory Financial Statements

05/12/2017 BAM Statutory Financial Statement Q1 2017
02/10/2017 BAM Statutory Financial Statement 2016 Annual
11/03/2016 BAM Statutory Financial Statement Q3 2016
08/12/2016 BAM Statutory Financial Statement 2016 Q2
03/31/2016 BAM Statutory Financial Statement 2016 Q1
12/31/2015 BAM Statutory Financial Statement 2015 Annual
09/30/2015 BAM Statutory Financial Statement 2015 Q3
06/30/2015 BAM Statutory Financial Statement 2015 Q2
03/31/2015 BAM Statutory Financial Statement 2015 Q1
12/31/2014 BAM Statutory Financial Statement 2014 Annual
09/30/2014 BAM Statutory Financial Statement 2014 Q3
06/30/2014 BAM Statutory Financial Statement 2014 Q2
03/31/2014 BAM Statutory Financial Statement 2014 Q1
12/31/2013 BAM Statutory Financial Statement 2013 Annual
09/30/2013 BAM Statutory Financial Statement 2013 Q3
06/30/2013 BAM Statutory Financial Statement 2013 Q2
03/31/2013 BAM Statutory Financial Statement 2013 Q1
12/31/2012 BAM Statutory Financial Statement 2012 Annual
09/30/2012 BAM Statutory Financial Statement 2012 Q3

Audited Statutory Financial Statements

02/10/2017 BAM Audited Statutory Financial Statement 2016
12/31/2015 BAM Audited Statutory Financial Statement 2015
12/31/2014 BAM Audited Statutory Financial Statement 2014
12/31/2013 BAM Audited Statutory Financial Statement 2013
12/31/2012 BAM Audited Statutory Financial Statement 2012

Operating Supplements

05/12/2017 BAM Quarterly Operating Supplement Q1 2017
02/10/2017 BAM Quarterly Operating Supplement Q4 2016
11/03/2016 BAM Quarterly Operating Supplement Q3 2016
08/12/2016 BAM Quarterly Operating Supplement Q2 2016
03/31/2016 BAM Quarterly Operating Supplement Q1 2016
12/31/2015 BAM Quarterly Operating Supplement Q4 2015
09/30/2015 BAM Quarterly Operating Supplement Q3 2015
06/30/2015 BAM Quarterly Operating Supplement Q2 2015
03/31/2015 BAM Quarterly Operating Supplement Q1 2015
12/31/2014 BAM Quarterly Operating Supplement Q4 2014
09/30/2014 BAM Quarterly Operating Supplement Q3 2014
06/30/2014 BAM Quarterly Operating Supplement Q2 2014
03/31/2014 BAM Quarterly Operating Supplement Q1 2014
12/31/2013 BAM Quarterly Operating Supplement Q4 2013
09/30/2013 BAM Quarterly Operating Supplement Q3 2013
06/30/2013 BAM Quarterly Operating Supplement Q2 2013

Regulatory Reports

04/28/2016 Report on Examination of BAM as of 12/31/13
07/18/2012 BAM Report on Organization