CIFG reports progress update

CIFG reported that it currently has over $1 billion in claims-paying resources, up from $500 million in mid-2002. CIFG said it grew its capital accounts in 2004 through both retained earnings and contributed capital. Parent company, Groupe Caisse d'Epargne, provided a $200 million committed line of credit, of which CIFG immediately drew down $90 million to add growth capital to its financial guaranty operations. CIFG currently has 60 staffers licensed to insure throughout the European Union and in 45 U.S. jurisdictions.