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New Assured Guaranty Subsidiary AG Analytics to Develop Muni Fintech Platform
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Rhea-AI Summary
Assured Guaranty Ltd. (NYSE:AGO) has launched a new indirect subsidiary, AG Analytics, aimed at enhancing access to municipal credit analytics. This fintech platform targets asset management firms, banks, insurance companies, and municipal advisors, aiming to provide superior data solutions compared to existing fragmented resources. Justin Land will serve as CEO of AG Analytics. The platform will feature tools analyzing obligor level risk, helping the industry streamline data-intensive analysis. Assured Guaranty emphasizes its extensive experience and market relationships to position AG Analytics as an industry leader in municipal finance technology.
Positive
Launch of AG Analytics to enhance municipal market analytics.
AG Analytics aims to provide best-in-class technology for asset managers.
Justin Land, with 25 years of experience, leads AG Analytics.
Negative
Dependence on future platform development and market reception.
HAMILTON, Bermuda--(BUSINESS WIRE)--
To provide broader, more comprehensive and convenient access to municipal credit and portfolio management analytics for the municipal market, Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) has established a new indirect subsidiary, AG Analytics, that is developing a new municipal fintech platform for asset management firms, banks, insurance companies, and municipal advisors. The AG Analytics platform plans to offer best-in-class technology and turnkey solutions to replace fragmented data resources now in use by municipal asset managers, analysts and other market participants.
“As the leading municipal bond insurer, Assured Guaranty has the municipal research experience and extensive market relationships to help AG Analytics develop and market a research platform designed to set the industry standard for data access and analytic power,” said Dominic Frederico, President and CEO of Assured Guaranty.
Justin Land will be leading this effort as CEO of AG Analytics.
“We have known and worked for years with Justin and are delighted that he has brought his deep knowledge of public finance and research technology to drive the development of an integrated fintech solution for the municipal bond market,” added Robert Bailenson, Chief Financial Officer of Assured Guaranty.
The AG Analytics platform will incorporate a dynamic data-driven tool that analyzes obligor level risk and resilience for the public finance industry, which Assured Guaranty will utilize to evaluate the potential risks to obligors in its insured portfolio. In addition to making this tool available to others in the market, AG Analytics will continue to evolve its platform to encompass a wide range of fintech tools to streamline data-intensive analysis for municipal professionals.
“Municipal analysts have struggled for too long to arrive at critical insights by adapting technologies intended to meet the needs of their counterparts in equity and corporate fixed-income markets. Even the best asset managers often have to swivel across multiple systems and data sources for credit research, trading data and portfolio management. They deserve better tools,” said Mr. Land. “AG Analytics is laser-focused on the needs of municipal asset managers, and we are developing our products in consultation with our prospective customers to provide a one-stop platform built specifically for their needs. In this effort, AG Analytics could have no better parent than Assured Guaranty, whose knowledge of municipal credit and risk analysis has few peers.”
Mr. Land has over 25 years of municipal market experience in credit research, trading and portfolio management, primarily at Wasmer, Schroeder and Company, LLC (Wasmer), where he rose to President. In that role, he worked closely with Assured Guaranty, which was both an investor in and client of Wasmer. After the Wasmer business was acquired by Charles Schwab and Company (Schwab) in 2020, Mr. Land was Schwab’s Managing Director of Specialty Wealth Solutions until joining Assured Guaranty in 2022 as Managing Director, Municipal Analytics, to develop AG Analytics.
Any forward-looking statements made in this press release reflect Assured Guaranty’s current views 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 future development, performance and reliability of the AG Analytics platform, and related products, the reception of the AG Analytics platform by participants in the municipal bond market, the future development, pricing and availability of competing products, future demand for such products by municipal investors, and other risks and uncertainties that have not been identified at this time, and management’s response to these factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made as of February 23, 2023. Assured Guaranty 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.
About Assured Guaranty
Assured Guaranty Ltd. is a publicly traded Bermuda-based holding company. Through its subsidiaries, Assured Guaranty provides credit enhancement products to the U.S. and international public finance, infrastructure and structured finance markets, and also provides asset management services. More information on Assured Guaranty can be found at: AssuredGuaranty.com
