BAM OVERVIEW & MISSION
BAM’s mission is to be the premier Financial Guaranty insurance company, serving investors with durable, transparent protection against default while acting as an industry utility providing efficient funding and savings for U.S. issuers who provide essential public infrastructure.
BAM's mutual insurance structure means that its stakeholders -- the municipal issuer-members who use our insurance to reduce their borrowing costs and the investors who hold BAM-insured bonds -- are aligned behind a shared interest in accumulating capital and maintaining exceptional financial strength. BAM's capital is further protected by a unique 15% first-loss reinsurance treaty that covers losses of up to 15% of par on each policy, and BAM does not insure bonds from U.S. Territories, including Puerto Rico, international issuers, or structured finance securities like mortgage bonds or CDOs.
BAM is committed to setting a new standard for transparency. BAM's entire insured portfolio is disclosed on its web site, and BAM Credit Profiles are available to provide insight into key operational and financial metrics for every credit we insure, with the data updated annually.
BAM is rated AA/Stable by Standard & Poor’s Ratings Services, and our low leverage and strong claims-paying ability results in capital adequacy exceeding the minimum rating agency AAA standard. We are a mutual company domiciled in New York and regulated by the New York Department of Financial Services.