News
BAM Reports 2017 Financial Results
February 12, 2018

Build America Mutual published its annual financial results for 2017 and fourth-quarter operating supplement. Statutory Comprehensive Income more than doubled to $11.9 million from $5.4 million in 2016, and BAM’s claims-paying resources grew $64.7 million to $708.4 million.

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BAM Launches Strategic Advisory Committee
January 17, 2018

Build America Mutual, the only mutual insurer of U.S. municipal bonds, today announced the formation of a new Strategic Advisory Committee that will advise BAM management on opportunities to build on the company’s five-year track record of growth. The founding members of the Committee will be Dan Keating (who will…

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BAM 2017 Year in Review
January 4, 2018

As BAM wraps up its fifth full year of operations, BAM Co-Founders Bob Cochran and Seán McCarthy wrote to thank the issuers, investors, underwriters, and municipal advisors who have helped prove the value that BAM’s focused, municipal-only, AA/Stable-rated guaranty provides to issuers and investors.

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Build America Mutual Hosts Bloomberg Radio Special Report on Municipal Finance
December 4, 2017

On November 30th, Bloomberg Radio's Bloomberg Markets program broadcast from Build America Mutual's headquarters in New York, focusing on the challenges the US faces in meeting its infrastructure investment needs. The program featured interviews with various municipal market professionals who discussed a wide range of topics, from how issuers can…

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BAM Reports Second Quarter Financial Results
August 11, 2017

Build America Mutual published its second quarter 2017 financial results and operating supplement, reporting a $13.7 million gain in claims paying resources in the second quarter of 2017, 36% higher than the same period in 2016. Par outstanding rose 7% to $37.6 billion. Statutory Comprehensive Income was $1.4 million in…

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BAM Reports Third Quarter Financial Results
November 10, 2017

Build America Mutual today published its third quarter 2017 financial results and operating supplement, Statutory Comprehensive Income was $1.1 million in the quarter and BAM’s claims-paying resources grew $10.8 million to $686.7 million.

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BAM, White Mountains Announce Agreement That Will Accelerate BAM’s Long-Term Capital Growth
June 30, 2017

In completion of a long-term strategic initiative, Build America Mutual, the largest active municipal-only bond insurer, announced today that White Mountains Insurance Group will contribute $203 million of BAM surplus notes as permanent capital for HG Re, the captive reinsurer that provides first-loss protection for BAM’s insured portfolio. In addition,…

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S&P Global Ratings Affirms BAM’s AA Rating and Stable Outlook
June 26, 2017

Build America Mutual today announced that S&P Global Ratings affirmed BAM’s AA rating and Stable outlook and removed BAM from CreditWatch. S&P’s decision marks the end of an intensive review of BAM’s first five years of performance and reflects the company’s transition from a “startup” to a “mature company” under…

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BAM Responds to S&P Global Ratings CreditWatch Action
June 6, 2017

S&P Global Ratings’ decision to place BAM’s rating on CreditWatch Negative represents a departure from their stated criteria and previous communications to the market. BAM’s managing directors said they intend to engage with S&P during the CreditWatch period to demonstrate that BAM’s financial strength and low-risk, low-volatility strategy of insuring…

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BAM Reports Record Quarter for Claims Paying Resources and Statutory Comprehensive Income
May 12, 2017

Gross Par Outstanding Increases to $35.2 Billion as Demand for Insured Bonds Outpaces Overall Municipal Market Volume Build America Mutual announced record results for growth in claims paying resources, statutory comprehensive income,1 pricing, and total premiums in the first quarter of 2017. The results were driven by high investor demand…

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BAM Reports Full Year and Q4 2016 Statutory Financial Results
February 10, 2017

Build America Mutual today filed its Fourth Quarter and Full Year 2016 Statutory Financial Statements, showing total claims- paying resources increased 7% on the year to $643.7 million. Gross par outstanding rose to $33.1 billion. The $14.7 million fourth quarter increase in claims-paying resources is the largest quarterly increase since…

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MMD Adds BAM-Guaranteed Bonds to Insured Yield Curve
April 7, 2017

Thomson Reuters’ Municipal Market Data has revised the criteria for its generic insured yield curves to include bonds guaranteed by Build America Mutual, reflecting the increasing institutional demand for BAM-insured bonds and providing municipal market participants with a more complete way to gauge the relative value of insured and uninsured…

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Press Release
Contact:

Michael Stanton

Head of Strategy and Communications

212-235-2575