FGIC

FGIC Announces Entry into Transaction Support Agreement to Pursue a Potential Accelerated Run-Off Transaction

Retrieved on: 
Thursday, February 29, 2024

A copy of this Transaction Support Agreement will be posted to FGIC’s website at www.fgic.com/proposedacceleratedrunoff/ .

Key Points: 
  • A copy of this Transaction Support Agreement will be posted to FGIC’s website at www.fgic.com/proposedacceleratedrunoff/ .
  • The total amount of Permitted Policy Distributions net of amounts allocable to FGIC-Owned Instruments is estimated to be about $1.480 billion.
  • A copy of this Novation Agreement will be posted to FGIC’s website at www.fgic.com/proposedacceleratedrunoff/ .
  • The Proposed Transaction will become effective only if, among other things, the required court approvals are obtained.

FGIC Announces NYSDFS Approval of CPP Upward Adjustment

Retrieved on: 
Wednesday, November 8, 2023

Financial Guaranty Insurance Company (“FGIC”) today announced that it had received notice from the New York State Department of Financial Services (the “NYSDFS”) that, pursuant to and in accordance with the terms of the First Amended Plan of Rehabilitation for FGIC, dated June 4, 2013, the NYSDFS has approved an increase of the cash payment percentage (CPP) of permitted policy claims that FGIC is required to pay under such Plan from the current 57.0% to 61.11%, effective November 8, 2023.

Key Points: 
  • Financial Guaranty Insurance Company (“FGIC”) today announced that it had received notice from the New York State Department of Financial Services (the “NYSDFS”) that, pursuant to and in accordance with the terms of the First Amended Plan of Rehabilitation for FGIC, dated June 4, 2013, the NYSDFS has approved an increase of the cash payment percentage (CPP) of permitted policy claims that FGIC is required to pay under such Plan from the current 57.0% to 61.11%, effective November 8, 2023.
  • The 2023 Annual CPP Revaluation Notice, which will be posted on the Policyholder Information Center at www.fgic.com/policyholderinfocenter/ , provides additional information concerning the 2023 CPP Revaluation.

FGIC Announces NYSDFS Approval of CPP Upward Adjustment

Retrieved on: 
Friday, December 9, 2022

The 2022 Annual CPP Revaluation Notice, which is posted on the Policyholder Information Center at www.fgic.com/policyholderinfocenter/ , provides additional information concerning the 2022 CPP Revaluation.

Key Points: 
  • The 2022 Annual CPP Revaluation Notice, which is posted on the Policyholder Information Center at www.fgic.com/policyholderinfocenter/ , provides additional information concerning the 2022 CPP Revaluation.
  • FGIC is a New York stock insurance corporation and a wholly owned subsidiary of FGIC Corporation.
  • FGIC emerged from rehabilitation on August 19, 2013, and is responsible for administering its outstanding insurance policies in accordance with the terms of the First Amended Plan of Rehabilitation for FGIC, dated June 4, 2013.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20221208006085/en/

FGIC Announces NYSDFS Approval of CPP Upward Adjustment

Retrieved on: 
Thursday, October 14, 2021

The 2021 Annual CPP Revaluation Notice, which is posted on the Policyholder Information Center at www.fgic.com/policyholderinfocenter/ , provides additional information concerning the 2021 CPP Revaluation.

Key Points: 
  • The 2021 Annual CPP Revaluation Notice, which is posted on the Policyholder Information Center at www.fgic.com/policyholderinfocenter/ , provides additional information concerning the 2021 CPP Revaluation.
  • FGIC is a New York stock insurance corporation and a wholly owned subsidiary of FGIC Corporation.
  • FGIC emerged from rehabilitation on August 19, 2013, and is responsible for administering its outstanding insurance policies in accordance with the terms of the First Amended Plan of Rehabilitation for FGIC, dated June 4, 2013.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20211013006183/en/