Build America Mutual today announced that it has filed its 2014 third-quarter Statutory Financial Statements and Operating Supplement, reflecting the mutual municipal-bond insurer’s continued growth and the increasing use of insurance on new-issue bond sales by public-sector issuers.
BAM’s gross par outstanding stood at $9.96 Billion as of September 30, 2014, up from $4.70 Billion on December 31, 2013. Total claims-paying resources were $581.3 Million, compared with $578.5 million at the end of 2013. The ratio of gross par insured to claims-paying resources was 17.3 : 1.
The financial statements and operating supplement were filed with the National Association of Insurance Commissioners and posted in the Financial Information section of BAM’s web site at: http://buildamerica.com/financialinformation.
For more information, contact Richard Holzinger, Head of Investor Relations, at email@example.com or 212-235-2518.