Financial guaranty.Financial guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. covers losses from specified spec·i·fy tr.v. spec·i·fied, spec·i·fy·ing, spec·i·fies 1. To state explicitly or in detail: specified the amount needed. 2. To include in a specification. 3. financial transactions and guarantees investors in debt instruments, such as municipal bonds, will receive timely principal and interest payments if a default occurs. Financial guaranty raises the credit rating of debt to which the guarantee is attached. Top U.S. Writers Direct Premiums Written 2003 ($ millions) Ambac Financial Group [18449] MBIA Group [03166] Financial Security Assur Group [04017] PMI Mortgage Group [03267] XL America Group [18491] Radian Group [18150] First Nonprofit Ins Co [10856] Travelers P&C Group [18358] Allianz of America Inc [18429] Old Republic General Group [00734] Note: Table made from bar graph. Source: Best's State/Line Database (Standard Lines) Direct Premiums U.S. Industry ($ billions) [GRAPHIC OMITTED] Combined Ratio U.S. Industry [GRAPHIC OMITTED] Source: Best's Aggregates & Averages |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion