|[November 09, 2012]
Assured Guaranty Expands Municipal Bond Insurance Team
NEW YORK --(Business Wire)--
Bond insurer Assured Guaranty (NYSE:AGO) has added three new members to
its U.S. public finance team.
Chris Chafizadeh, formerly head of the public finance business group at
National Public Financial Guarantee (NPFG), has been named Managing
Director responsible for new originations in Assured Guaranty's
municipal bond insurance business.
The Company also added two executives to its San Francisco office. Jason
Kissane, who previously managed NPFG's western region, is now Managing
Director responsible for western regional business, and Andrew Porges,
recently a senior underwriter for NPFG in the western region, has joined
Assured Guaranty as a Director.
Mr. Chafizadeh and Mr. Kissane will report directly to Bill Hogan,
Senior Managing Director, Public Finance.
Commenting on the new hires, Mr. Hogan said, "We are very pleased to add
three strong underwriters to the public finance team. Chris, Jason and
Andrew bring a wealth of experience and strong relationships to the
company, which will help us expand our municipal bond insurance
franchise. We remain committed to providing the best value and service
to our customers."
"It's very exciting to join the industry leader at a time when investors
are eeing clear evidence of the value of bond insurance and municipal
issuers cannot afford to pass up any opportunity for savings," added Mr.
Chafizadeh. "Right now, only Assured Guaranty has the track record and
financial strength to offer the market what it needs."
Assured Guaranty provides financial guaranty insurance through Assured
Guaranty Municipal Corp. and Assured Guaranty Corp., both of which are
subsidiaries of Assured Guaranty Ltd. Assured Guaranty Ltd. is a
Bermuda-based holding company that provides, through its operating
subsidiaries, insurance products to the U.S. and international public
finance, infrastructure and structured finance markets.
More information can be found at www.assuredguaranty.com.
Cautionary Statement Regarding Forward-Looking Statements:
Any forward-looking statements made in this press release reflect the
current views of Assured Guaranty Ltd. and its subsidiaries (the
Company) with respect to future events and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Such statements involve risks and uncertainties that may cause
actual results to differ materially from those set forth in these
statements. These risks and uncertainties include, but are not limited
to, the Company not being able to maintain its competitive position or
to expand its insurance franchise, whether due to a lack of demand for
bond insurance, the rise of other competitors in the market, the Company
not being able to maintain its financial strength ratings, or adverse
developments in the Company's insured portfolio that have a negative
impact on its financial condition; and other risks and uncertainties
that have not been identified at this time, management's response to
these factors, and other risk factors identified in the Company's
filings with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are made as of November 9, 2012. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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