Radian Asset Assurance Inc. · New York, NY United States
Company Description
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This link will open in a new window Radian Asset Assurance backs up bonds. The Radian Group subsidiary, is in the financial guaranty business, meaning that it insures and reinsures state and municipal bonds and provides direct financial guarantees of smaller debt obligations. The company reinsures in the US and Puerto Rico; its UK-based subsidiaries, Radian Asset Assurance Limited and Radian Financial Products Limited, provide financial guaranty products in Europe. As Radian Asset Assurance was heavily involved in insuring collateralized debt obligations and asset-backed securities, in 2008 its ratings were downgraded and the company ceased writing new financial guaranty business. To read the full description, subscribe now.
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Key Radian Asset Assurance Inc. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 145 |
Radian Asset Assurance Inc. Executives
6 executives listed for Radian Asset Assurance Inc.'s New York, NY location.
| Title | Name & Bio | Contact |
| President | David Beidler | Network |
| EVP, General Counsel, and Secretary | Terese Bryce | Network |
| SVP and Manager Risk Management | Betty Cohen | Network |
Competition
Competitive Landscape for Radian Asset Assurance Inc.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Radian Asset Assurance Inc. Competitors
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