The New York Insurance Commission this week issued a licence to the Municipal and Infrastructure Assurance Corp, an entity in which Macquarie Group is an investor, the Financial Review reported.Macquarie and Citadel, an investment fund, will own around 50 per cent of MIAC's capital.MIAC is aiming at a AAA credit rating but it is not clear what level of capital MIAC will have or what the level of Macquarie's investment is.