trending Market Intelligence /marketintelligence/en/news-insights/trending/IPcKHism5YX91KW4bJLsuw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Assured Guaranty to acquire CIFG Holding

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report


Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did

Assured Guaranty to acquire CIFG Holding

Assured GuarantyLtd. unit Assured GuarantyCorp. has agreed to acquire CIFG Holding Inc., the parent of ,for an expected $450 million in cash.

Assured Guaranty hadbeen rumored to be considering a deal for CIFG. Ambac Financial Group Inc. had also been mentioned as a bidderfor the company, according to "people familiar with the matter" speakingto Reuters.

CIFG Assurance North America will merge into Assured GuarantyCorp., which will be the surviving entity. After the merger, the assets and obligationsof CIFG Assurance North America will become the assets and obligations of AssuredGuaranty Corp., and the bonds insured by CIFG Assurance North America will becomeinsured obligations of Assured Guaranty Corp. and receive the latter's financialstrength ratings. Policies associated with the 2009 reinsurance transaction betweenthe two entities that have not already been novated to Assured Guaranty Corp. willbecome its direct obligations.

The acquisition is expected to be accretive to Assured GuarantyLtd.'s EPS, operating shareholders equity and adjusted book value. As of Dec. 31,2015, CIFG Assurance North America had an insured portfolio of $5.6 billion of netpar and about $637 million of statutory capital. Assured Guaranty Ltd. estimatesthat the transaction will increase its statutory capital in 2016 by $300 millionto $325 million.

The deal is expected to be completed in mid-2016, subject toreceiving antitrust and insurance regulatory approvals and satisfying customaryclosing conditions. CIFG's stockholders have already approved the acquisition.

Moelis & Co. LLC is acting as Assured Guaranty's financialadviser, and Mayer Brown LLP is acting as legal adviser.