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Other FSA companies across the globe will be renamed as well.
The name change, which will take effect as soon as it is cleared by regulators, comes to highlight the company's exclusive focus on municipal bond insurance.
Assured Guaranty Corp, the other core subsidiary of the Bermuda-based company, serves both the municipal and structured finance sectors.
Despite the economic downturn, Assured Guaranty has enjoyed a strong demand for its products as evidenced by the sizable volume of public issues it has guaranteed this year. The group's two direct bond insurers covered a combined USD8.7bn (EUR5.9bn) in US municipal new bond issues in July to September, or 9.6% of public finance new issuance, the company said earlier.
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