October 20, 2017 9:37 PM ET

Diversified Financial Services

Company Overview of National Public Finance Guarantee Corporation

Company Overview

National Public Finance Guarantee Corporation offers public finance-only financial guarantee insurance services to public and private sector entities to access capital required for growth in the United States. It covers sectors, such as tax-backed, enterprise, transportation and infrastructure, utilities, secondary market, general obligations, leases and certificates of participation, municipal utility districts, pension obligations, sales and excise tax, special assessments, tax allocation bonds, enterprise, healthcare, and FHA healthcare. The company also covers housing, public universities, private colleges, non-profits, transportation and infrastructure, airports mass transit systems, pa...

1 Manhattanville Road

Suite 301

Purchase, NY 10577

United States

Phone:

914-765-3333

Key Executives for National Public Finance Guarantee Corporation

Chief Executive Officer
Age: 57
MD & General Counsel
Managing Director of Risk Management
MD & Chief Risk Officer
Age: 54
Compensation as of Fiscal Year 2017.

National Public Finance Guarantee Corporation Key Developments

National Public Finance Guaranty Lays Off 29 on New Business Team After Downgrade

National Public Finance Guaranty laid off 29 executives and employees, shuttering its new business operation after being downgraded by S&P Global Ratings.

National Public Finance Guarantee Corporation Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2017

National Public Finance Guarantee Corporation announced unaudited earnings results for the first quarter ended March 31, 2017. For the quarter, the company recorded GAAP net income of $27 million for the first quarter of 2017 compared with $41 million for the first quarter of 2016. The decline in GAAP net income was primarily due to a $17 million decline in net premiums earned. The company recorded $25 million of operating income in the first quarter of 2017 compared with $37 million of operating income in the same period of 2016. The decline in operating income was also primarily due to the decline in net premiums earned. Total net premiums earned were $41 million in the first quarter of 2017, down 29% from $58 million of total premiums earned in the same period of 2016. Premiums earned from refunded transactions decreased 35% and scheduled premiums earned declined by 20%. The decline in scheduled premiums earned resulted from the continued decrease of National’s insured portfolio. The company recorded loss and loss adjustment expenses of $11 million in the first quarter of 2017 compared to $9 million in the first quarter of 2016. The increase in losses and loss adjustment expenses was primarily due to additions for certain Puerto Rico credits in the first quarter of 2017. Net investment income for the company was $31 million in the first quarters of 2017 and 2016 on average assets of $4.2 billion and $4.4 billion, for the respective quarters.

National Public Finance Guarantee Corporation Presents at The Bond Buyer's National Outlook Conference, Jan-31-2017 10:15 AM

National Public Finance Guarantee Corporation Presents at The Bond Buyer's National Outlook Conference, Jan-31-2017 10:15 AM. Venue: New York, New York, United States. Speakers: Nicholas Sourbis, Managing Director of Fixed-Income Investor Relations.

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Recent Private Companies Transactions

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