News
White Mountains Earnings Highlight BAM’s Growing Claims-Paying Resources
February 15, 2015

White Mountains Insurance Group, which provided the initial capital to support the launch of Build America Mutual, today released its full- year 2014 results, including a discussion of BAM’s performance. The release, which can be viewed here, noted that BAM’s claims-paying resources increased to $581 million during the year. BAM…

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BAM Releases Third Quarter 2014 Statutory Financial Statements
November 14, 2014

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,…

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BAM Reports Third Quarter 2015 Statutory Financial Results
November 13, 2015

Build America Mutual today filed its Third Quarter 2015 Statutory Financial Statements and published its Operating Supplement, reporting an 11% increase in gross par outstanding to $19.8 billion. Claims-paying resources rose $5.8 million to $592.6 million, the largest quarterly increase since the company was founded in 2012. Build America Mutual’s…

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BAM Releases Second Quarter 2014 Statutory Financial Statements
August 15, 2014

Build America Mutual today announced that it has filed its 2014 second-quarter Statutory Financial Statements and Operating Supplement, reflecting the mutual municipal-bond insurer’s continued growth through the first half of 2014, even as new- issue volume in the municipal bond market declined. BAM’s gross par outstanding stood at $7.77 Billion…

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BAM Reports Claims-paying Resources Climb to $583 Million in First-Quarter 2014
May 13, 2014

Build America Mutual today published its 2014 first-quarter Statutory Financial Statements and Operating Supplement, showing that the municipal-bond insurer’s claims-paying ability rose to $583 million. As the first mutual bond insurer, BAM’s focus is on building its capital base, to support its ratings and to enhance the value of its…

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BAM Reports Second Quarter 2015 Statutory Financial Results
June 30, 2015

Build America Mutual today filed its Second Quarter 2015 Statutory Financial Statements and published its Operating Supplement, reporting a 23% increase in gross par outstanding to $17.8 billion. Claims-paying resources rose $4.8 million to $586.8 million, the largest quarterly increase since the company was founded in 2012. Build America Mutual’s…

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BAM Has No Exposure to Puerto Rico. Here’s why
February 7, 2014

BUILD AMERICA MUTUAL’S PLAN OF OPERATION, FILED WITH AND APPROVED BY THE NEW YORK DEPARTMENT OF FINANCIAL SERVICES, PROVIDES THAT BAM “WILL ONLY INSURE INVESTMENT GRADE, ESSENTIAL PUBLIC PURPOSE U.S. MUNICIPAL BONDS”, U.S. MUNICIPAL BONDS BEING DEFINED AS “DEBT OBLIGATIONS ISSUED BY STATE AND LOCAL MUNICIPAL GOVERNMENTS AND PUBLIC AUTHORITIES…

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Lumesis and Build America Mutual Team to Improve Access to Muni Bond Information
June 1, 2015

Build America Mutual, the first mutual insurer of US municipal bonds, and Lumesis, Inc. a leading provider of business efficiency, regulatory compliance and data solutions for the municipal market, today announced a joint initiative to improve investors’ access to municipal bond credit information by making BAM’s Obligor Disclosure Brief (ODB)…

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Standard & Poor’s Affirms BAM’s AA/Stable Financial Strength Rating
August 1, 2014

Build America Mutual today announced that Standard & Poor’s has affirmed the company’s financial strength rating at AA, with a stable outlook.

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MMA Weekly Outlook Report on BAM
July 30, 2012

The new bond insurer, BAM, intends to begin under- wri ng in September, with expecta ons for at least $10Bn of par wrapped in the rst twelve months. In the- ory, this will trade more weakly at outset and will slowly improve over the next few years. Whether or not…

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BAM’s Les Richmond Comments on Pension and Opeb Conundrum in the Bond Buyer
July 17, 2013

Build America Mutual Assurance Company (BAM or the Company), the first mutual municipal bond insurer, today announced that it has hired Les Richmond as Vice President and Actuary. He reports to Suzanne M. Finnegan, Chief Underwriting Officer. Seán W. McCarthy, Managing Director and Chief Executive Officer of BAM, said: “We…

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Jill Schmidt Joins Build America Mutual as Vice President, Public Finance, East Region
March 13, 2013

Build America Mutual Assurance Company (BAM or the Company), the first mutual municipal bond insurer, today announced that it has hired Jill Schmidt as Vice President, Public Finance, East Region. She joins BAM from Assured Guaranty, where she was a Vice President in Public Finance. She reports to Don Farrell,…

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Press Release
Contact:

Michael Stanton

Head of Strategy and Communications

212-235-2575