SGI's year end statutory filing reported $1.54M in loss recoverables from RAM Re compared to $2.42M at the end of 2009. At the end of 2009 SGI reported the smallest recoverable of any of RAM's ceding primaries. It appears that 2010 will be no different. This is an incremental positive, but only a small one.
Assured's GAAP year end report had decent implications for RAM in the $76.6M economic loss development. The release and reassumption deal with RAM most likely generated a small gain - between $0.5 to $2.5M - for RAM given the higher overall reserves at RAM.
FGIC and Assured statutory filings will shed additional light soon, but so far RAM looks to have had an good Q4.