At the industry level, more than $9.1 billion of U.S. public finance primary market par was sold with bond insurance in the second quarter, the most for any quarter since mid-2009 and industry insurance penetration reached 8.7% of total new issue par sold, the highest quarterly level since 2009. Six months industry insured volume is 43% higher than in the first six months of 2019. In this strengthened municipal bond insurance market, Assured Guaranty was selected to ensure 63% of the insured new issue par sold in the second quarter. Compared with the second quarter of last year, Assured Guaranty's primary market production was up 58% to $5.8 billion in insured par sold and up 22% to 318 new issue in transaction count.