ASSURED GUARANTY GETS $1BN INFUSION FROM INVESTOR ROSS

Bermudian bond insurer Assured Guaranty is to receive $1bn in new capital from investor Wilbur Ross’s private equity operation WL Ross & Co. WL Ross will buy $250m of Assured's common shares and purchase up to $750m in additional shares at the carrier's option over the next year. The agreement ends speculation that Mr Ross was eyeing an investment into the troubled bond insurance sector, possibly with a capital injection into Ambac Financial. Among the major bond insurers, Assured has shown fewer losses related to securities backed by sub-prime mortgages.