News

Richard Ravitch Leaves Build America Mutual Board of Directors
September 7, 2016

Build America Mutual (BAM), the first mutual insurer of US municipal bonds, today announced that Richard Ravitch has resigned from its board of directors, effective immediately, to devote more time to his growing public service responsibilities. “Last week, the Governor of Puerto Rico asked me to be his representative on…

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BAM Reports Second Quarter 2016 Statutory Financial Results
August 12, 2016

Build America Mutual on August 10 filed its Second Quarter 2016 Statutory Financial Statements and published its Operating Supplement, reporting an 13% increase in gross par outstanding to $27.8 billion. Claims-paying resources rose $10.1 million to $617.2 million, the largest quarterly increase since the company was founded in 2012. Build…

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City, County Leaders: U.S. Infrastructure Policy Must Protect Tax-Exempt Bonds, Enhance Long- Term Funding
July 21, 2016

Republican elected officials from across the nation explained how infrastructure investments have fueled growth in their local economies, and said those successes support the case for more federal resources for infrastructure, as well as the preservation of tax- exempt municipal bonds in any tax-reform legislation. Their comments came during a…

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S&P Global Ratings Affirms BAM’s AA / Stable Rating
July 29, 2016

S&P Global Ratings affirmed Build America Mutual’s AA rating with a stable outlook, citing the insurer’s “extremely strong” capital, “prudent” underwriting strategy, and a “well-developed strategic plan [that] ensures liquidity of BAM’s insured paper.” In assigning the rating, S&P recognized BAM’s unique mutual structure, which supports BAM’s long-term financial stability…

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BAM Secondary Market Insurance Quotes Now Available on Bloomberg
June 20, 2016

Build America Mutual, the first mutual insurer of US municipal bonds, is now posting indicative quotes for secondary market insurance on more than 10,000 CUSIPs on the Bloomberg Professional Service. All of the bonds listed have been underwritten by BAM’s public finance group and pre-approved by the insurer’s credit committee.…

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BAM Reports Full Year 2015 Statutory Financial Results
February 19, 2016

Build America Mutual today reported its claims-paying resources grew to a new high of $601.4 million at the end of 2015. Total par outstanding reached $22.5 billion, an 82% increase from year-end 2014. Build America Mutual’s Statutory Financial Statements and Operating Supplements are available in the Financial Information section of…

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Munibrokers.com Adds Build America Mutual Insurance Quotes to its Municipal Bond Listings
February 22, 2016

Build America Mutual, the first mutual insurer of US municipal bonds, and MuniBrokers LLC, an online service aggregating bond offerings and bid-wanted lists from nine of the nation’s largest interdealer bond brokerage firms, today announced that BAM will list indicative secondary-market insurance premium quotes on the MuniBrokers site. “Bringing additional…

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Sollers to Join Build America Mutual to Head West Region Public Finance
March 22, 2016

Build America Mutual, the first mutual insurer of US municipal bonds, today announced that Scott Sollers will join the firm to lead its West Region Public Finance group. He will be responsible for managing BAM’s West Coast- based underwriters and helping to set strategic direction for the company. “Scott has…

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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 Hires Michael Stanton as Head of Strategy and Communications
October 18, 2013

Build America Mutual Assurance Company (BAM) announced today that it has hired Michael Stanton as Head of Strategy and Communications. He joins from SourceMedia, where he was Senior Vice President for Capital Markets, managing a group of four major publications, including The Bond Buyer, the company’s flagship municipal finance daily…

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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 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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Press Release
Contact:

Michael Stanton

Head of Strategy and Communications

212-235-2575