BAM Releases Second Quarter 2014 Statutory Financial Statements
NEW YORK, 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 as of June 30, 2014, up from $4.70 Billion on December 31, 2013. Total claims-paying resources were $581.6 Million, compared with $578.5 million at the end of 2013. The ratio of gross par insured to claims-paying resources was 13.4 : 1, the lowest among active financial guaranty insurers.
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 firstname.lastname@example.org or 212-235-2518, or Michael Stanton, Head of Strategy and Communications, at email@example.com or 212-235-2575