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March 28, 2015 12:18 PM ET


Company Overview of Syncora Guarantee, Inc.

Company Overview

Syncora Guarantee, Inc. provides credit enhancement and primary financial guarantee insurance solutions to debt issuers. It offers guarantee services for U.S. municipal bonds; asset-backed securities; debt backed by utilities and infrastructure projects; collateralized debt obligations (CDOs); and specialized risks, including future flow securitizations and bank deposit insurance. The company also provides solutions for traditional and structured public finance and infrastructure transactions, investment-grade and leveraged corporate loans, future flow securitization, and bank deposit insurance. Syncora Guarantee, Inc. was formerly known as XL Capital Assurance, Inc. The company is headquart...

135 West 50th Street

20th Floor

New York, NY 10020

United States





Key Executives for Syncora Guarantee, Inc.

Acting Chief Executive Officer, General Counsel and Director
Age: 44
Chief Financial Officer
Age: 48
Managing Director
Senior Vice President
Age: 54
Senior Vice President and Corporate Secretary
Compensation as of Fiscal Year 2014.

Syncora Guarantee, Inc. Key Developments

Syncora Guarantee, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2014

Syncora Guarantee, Inc. reported earnings results for the fourth quarter ended December 31, 2014. For the quarter, the company recorded a net loss of $137.4 million.

Detroit May Sell Assets

Detroit City attorneys are in private talks about giving away some of the city's assets including possibly the Coleman A. Young Municipal Airport, a stake in the Detroit-Windsor Tunnel and other real estate. The source briefed on negotiations wouldn't discuss what specific city assets are being discussed to potentially settle the case but said everything is on the table. No assets are off the table in 11th-hour talks with bond insurer Syncora Guarantee Inc. and other parties, except for the Detroit Institute of Arts collection.

Syncora Holdings Ltd. Announces Syncora Guarantee Inc.'s Jefferson County Settlement

Syncora Holdings Ltd. announced that Syncora Guarantee Inc. has settled all litigation and claims and that it has commuted all its insurance policies issued in connection with the Jefferson County, Alabama Sewer Warrants pursuant to the consensual plan of debt adjustment of Jefferson County. As provided by the plan, the company also received a partial recovery on claims totaling $246 million, including claims with respect to certain warrants it owned as a result of past payments under its insurance policies. Going forward, the company will have no insurance exposure to, and expects to hold no warrants or other debt instruments issued by, Jefferson County. In connection with the plan, the company was released by all relevant parties from any legal claims against it in connection with its insurance of the Warrants. In exchange for the commutation of its insurance policies and partial payment in respect of the warrants it owned, the company released Jefferson County and JP Morgan Chase Bank N.A. and JP Morgan Securities from all legal claims held by the company against them in connection with the Warrants. The company's losses with respect to Jefferson County are within its established loss reserves. While the combined effects of the foregoing positively affect the company's cash position, it is not expected to mitigate the potential 'liquidity mismatch' between the company's expected future medium to long-term claim payments and recoveries relating to such claims and the other significant risks and uncertainties, as described in the company's most recent financial statements.

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