News

NEW YORK, February 17, 2023 – 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.

BAM’s Statutory Financial Statements and Operating Supplements are available in the Financial Information section of BAM’s website. The financial statements have also been filed with the National Association of Insurance Commissioners and the 50 state insurance regulators that license BAM.

About Build America Mutual

BAM is a mutual bond insurance company operated for the benefit of its members – the cities, states, and other municipal entities that use BAM’s financial guaranty to lower their cost of borrowing – and  BAM is the preferred provider of bond insurance for members of the National League of Cities. As of December 31, 2022, there were $98 billion of BAM-insured municipal bonds outstanding for approximately 5,000 member-issuers.

For more information, please contact:

Michael Stanton, Head of Corporate Strategy and Communications

212-235-2575; mstanton@buildamerica.com