By sector, AFGI projects that international asset-backed par insured will total $US48.
Because PFIs are complex, AFGI members' guarantees should contribute to investor confidence and demand for the securities," explained Mr.
AFGI's volume projections and results of their survey reflecting institutional investors' forecasts were announced at the AFGI conference attended in London on December 2 by international institutional investors.
The insurance provides enhanced securities distribution and borrowing cost savings for issuers because securities guaranteed by AFGI members carry the higher claims-paying ratings of the insurers.
Today AFGI companies provide credit enhancements for a full range of issues, including public sector infrastructure and project financings; securitizations backed by trade receivables, other corporate assets and consumer assets; structured finance transactions; and sovereign and quasi-sovereign debt.
AFGI member companies are ACA Financial Guaranty Corporation, Ambac Assurance Corporation, Assured Guaranty Corp.
Boyle, Chairman of AFGI and Vice Chairman of Ambac Financial Group, Inc.
AFGI members' revenues, consisting primarily of net premiums earned and net investment income, totaled a record $2.
AFGI members' financial strength reached a new high in 2001.
In 2001, AFGI members insured $371 billion in par value of securities -- 36% more than in 2000 and 27% more than the industry's previous record volume of $292 billion in 1998.
AFGI also experienced a return to insured penetration levels of about 50% of the U.