Financial Guaranty Insurance Company

Financial Guaranty Insurance Company (FGIC) is a New York-domiciled stock insurance company founded in 1983. For many years, it was a leading monoline insurer, providing guarantees on the timely payment of principal and interest for municipal bonds and other structured finance obligations. The company was severely impacted by the 2008 global financial crisis due to its exposure to mortgage-backed securities. As a result, FGIC ceased writing new business in 2008 and entered a state of "run-off." The company's primary mission is now to manage its existing portfolio of insured obligations, focusing on loss mitigation, claims administration, and maximizing value for its stakeholders under a Plan of Rehabilitation approved by the New York State Department of Financial Services.