Australia Macquarie in talks to form US muni insurer
NEW YORK, June 5 (Reuters) - Australia's Macquarie Group is considering forming a new U.S. insurance arm for municipal bonds, a source familiar with the plans said on Thursday, one day after two big insurers were warned they may lose their top ratings.
A Macquarie spokesman based in New York declined comment.
On Monday, the New York Times ran a legal advertisement, called a "Notice of Intention to form Stock Insurance Company," which described the new enterprise as a "Municipal and Infrastructure Assurance Corporation."
The advertisement, which said the amount of proposed capital would be $2.5 billion and locate its principal office in New York, did not name any company.
