UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-21180

 

Name of Fund: BlackRock Insured Municipal Income Investment Trust (BAF)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Insured Municipal Income Investment Trust, 55 East 52nd Street, New York, NY 10055.

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 08/31/2010

 

Date of reporting period: 05/31/2010

 

Item 1 – Schedule of Investments

 

 

 

 

Schedule of Investments May 31, 2010 (Unaudited)

BlackRock Insured Municipal Income Investment Trust (BAF)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 1.7%

 

 

 

 

 

 

 

Birmingham Special Care Facilities
Financing Authority, RB, Children’s
Hospital (AGC):

 

 

 

 

 

 

 

6.13%, 6/01/34

 

$

1,000

 

$

1,092,160

 

6.00%, 6/01/39

 

 

1,000

 

 

1,090,440

 

 

 

 

 

 

 

 

 

 

 

 

2,182,600

 

Arizona — 0.5%

 

 

 

 

 

 

 

State of Arizona, COP, Department of
Administration, Series A (AGM):

 

 

 

 

 

 

 

5.25%, 10/01/28

 

 

465

 

 

492,788

 

5.00%, 10/01/29

 

 

125

 

 

129,620

 

 

 

 

 

 

 

 

 

 

 

 

622,408

 

California — 10.9%

 

 

 

 

 

 

 

California State Public Works Board, RB,
Various Capital Projects, Series G-1
(AGC), 5.25%, 10/01/24

 

 

2,000

 

 

2,060,900

 

County of Sacramento California, RB,
Senior Series A (AGC), 5.50%,
7/01/41

 

 

1,400

 

 

1,477,490

 

Los Angeles Community College District
California, GO, Election of 2001,
Series A (NPFGC), 5.00%, 8/01/32

 

 

1,000

 

 

1,027,840

 

Los Angeles Municipal Improvement
Corp., Refunding RB, Real Property,
Series B (AGC), 5.50%, 4/01/39

 

 

3,810

 

 

4,022,560

 

San Diego Public Facilities Financing
Authority, Refunding RB, Series B
(AGC), 5.38%, 8/01/34

 

 

1,125

 

 

1,199,992

 

San Jacinto Unified School District, GO,
Election of 2006 (AGM), 5.25%,
8/01/32

 

 

1,000

 

 

1,022,100

 

State of California, GO, Various Purpose
(AGM), 5.00%, 6/01/32

 

 

3,000

 

 

3,030,000

 

 

 

 

 

 

 

 

 

 

 

 

13,840,882

 

Colorado — 1.3%

 

 

 

 

 

 

 

Colorado Health Facilities Authority, RB,
Hospital, NCMC Inc. Project, Series B
(AGM), 6.00%, 5/15/26

 

 

1,425

 

 

1,590,129

 

Florida — 23.9%

 

 

 

 

 

 

 

City of Miami Florida, RB (NPFGC),
5.25%, 1/01/28

 

 

5,035

 

 

5,305,128

 

City of Palm Bay Florida, RB,
Improvement (NPFGC), 5.52%,
10/01/28 (a)

 

 

1,845

 

 

669,772

 

City of Sunrise Florida, Refunding RB
(AMBAC), 5.00%, 10/01/28

 

 

5,000

 

 

5,033,550

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida (concluded)

 

 

 

 

 

 

 

County of Orange Florida, Refunding RB:

 

 

 

 

 

 

 

(AMBAC), 5.00%, 10/01/29

 

$

1,600

 

$

1,622,336

 

Series B (NPFGC), 5.13%, 1/01/32

 

 

4,845

 

 

4,898,004

 

Lake County School Board, COP,
Series A (AMBAC), 5.00%, 7/01/28

 

 

1,500

 

 

1,506,315

 

Pasco County School Board, COP,
Series A (NPFGC), 5.00%, 8/01/27

 

 

2,765

 

 

2,821,600

 

Village Center Community Development
District, RB, Series A (NPFGC), 5.00%,
11/01/32

 

 

10,000

 

 

8,479,200

 

 

 

 

 

 

 

 

 

 

 

 

30,335,905

 

Georgia — 2.7%

 

 

 

 

 

 

 

Gwinnett County Hospital Authority,
Refunding RB, Gwinnett Hospital
System, Series D (AGM), 5.50%,
7/01/41

 

 

1,350

 

 

1,377,999

 

Metropolitan Atlanta Rapid Transit
Authority, RB, Third Indenture,
Series B (AGM), 5.00%, 7/01/34

 

 

1,890

 

 

1,986,560

 

 

 

 

 

 

 

 

 

 

 

 

3,364,559

 

Illinois — 11.2%

 

 

 

 

 

 

 

Chicago Board of Education Illinois, GO,
Refunding, Chicago School Reform
Board, Series A (NPFGC), 5.50%,
12/01/26

 

 

900

 

 

1,012,761

 

Chicago Transit Authority, RB, Federal
Transit Administration Section 5309,
Series A (AGC), 6.00%, 6/01/26

 

 

1,300

 

 

1,498,094

 

City of Chicago Illinois, GO, Refunding,
Projects, Series A (AGM):

 

 

 

 

 

 

 

5.00%, 1/01/28

 

 

920

 

 

975,347

 

5.00%, 1/01/29

 

 

1,425

 

 

1,500,383

 

5.00%, 1/01/30

 

 

570

 

 

596,505

 

City of Chicago Illinois, RB, General,
Third Lien, Series C (AGM):

 

 

 

 

 

 

 

5.25%, 1/01/30

 

 

1,000

 

 

1,045,960

 

5.25%, 1/01/35

 

 

820

 

 

849,340

 

City of Chicago Illinois, Refunding RB,
Second Lien (NPFGC), 5.50%,
1/01/30

 

 

1,000

 

 

1,093,560

 

Illinois Municipal Electric Agency, RB,
Series A (NPFGC), 5.25%, 2/01/28

 

 

1,560

 

 

1,634,958

 

State of Illinois, RB:

 

 

 

 

 

 

 

(AGM), 5.00%, 6/15/27

 

 

1,000

 

 

1,027,780

 

Build Illinois, Series B, 5.25%,
6/15/28

 

 

1,750

 

 

1,877,557

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

BHAC

Berkshire Hathaway Assurance Corp.

COP

Certificates of Participation

EDA

Economic Development Authority

GARB

General Airport Revenue Bonds

GO

General Obligation Bonds

ISD

Independent School District

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

S/F

Single-Family

 

 

 

BLACKROCK INSURED MUNICIPAL INCOME INVESTMENT TRUST

MAY 31, 2010

1


 

 

 

 

Schedule of Investments (continued)

BlackRock Insured Municipal Income Investment Trust (BAF)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Village of Schaumburg Illinois, GO,
Series B (NPFGC), 5.00%, 12/01/38

 

$

1,000

 

$

1,016,520

 

 

 

 

 

 

 

 

 

 

 

 

14,128,765

 

Indiana — 2.1%

 

 

 

 

 

 

 

Indianapolis Local Public Improvement
Bond Bank, Refunding RB,
Waterworks Project, Series A (AGC),
5.50%, 1/01/38

 

 

2,415

 

 

2,624,864

 

Iowa — 0.9%

 

 

 

 

 

 

 

Iowa Finance Authority, Refunding RB,
Iowa Health System (AGC), 5.25%,
2/15/29

 

 

1,125

 

 

1,165,489

 

 

 

 

 

 

 

 

 

Kentucky — 0.8%

 

 

 

 

 

 

 

Kentucky Municipal Power Agency, RB,
Prairie State Project, Series A (BHAC),
5.25%, 9/01/42

 

 

1,000

 

 

1,038,400

 

Louisiana — 2.7%

 

 

 

 

 

 

 

Louisiana State Citizens Property
Insurance Corp., RB, Series C-3 (AGC),
6.13%, 6/01/25

 

 

2,510

 

 

2,802,992

 

New Orleans Aviation Board Louisiana,
Refunding RB (AGC), Restructuring
GARB:

 

 

 

 

 

 

 

Series A-1, 6.00%, 1/01/23

 

 

375

 

 

425,850

 

Series A-2, 6.00%, 1/01/23

 

 

150

 

 

170,340

 

 

 

 

 

 

 

 

 

 

 

 

3,399,182

 

Maine — 0.9%

 

 

 

 

 

 

 

City of Portland Maine, RB, General
(AGM), 5.25%, 1/01/35

 

 

1,095

 

 

1,128,222

 

Michigan — 15.6%

 

 

 

 

 

 

 

City of Detroit Michigan, RB:

 

 

 

 

 

 

 

Second Lien Series B (AGM),
6.25%, 7/01/36

 

 

1,700

 

 

1,862,741

 

Second Lien, Series B (AGM),
7.00%, 7/01/36

 

 

200

 

 

231,140

 

Second Lien Series B (NPFGC),
5.50%, 7/01/29

 

 

1,790

 

 

1,807,399

 

Senior Lien Series B (AGM),
7.50%, 7/01/33

 

 

1,000

 

 

1,204,350

 

Senior Lien Series B (BHAC),
5.50%, 7/01/35

 

 

4,750

 

 

4,967,313

 

System, Second Lien, Series A
(BHAC), 5.50%, 7/01/36

 

 

2,330

 

 

2,419,192

 

City of Detroit Michigan, Refunding RB:

 

 

 

 

 

 

 

Second Lien, Series E (BHAC),
5.75%, 7/01/31

 

 

2,300

 

 

2,464,082

 

Senior Lien, Series C-1 (AGM),
7.00%, 7/01/27

 

 

1,800

 

 

2,103,354

 

Michigan State Building Authority, RB,
Facilities Program, Series H (AGM),
5.00%, 10/15/26

 

 

365

 

 

376,286

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Michigan (concluded)

 

 

 

 

 

 

 

Michigan State Building Authority,
Refunding RB, Facilities Program,
Series I (AGC):

 

 

 

 

 

 

 

5.25%, 10/15/24

 

$

565

 

$

607,132

 

5.25%, 10/15/25

 

 

300

 

 

319,887

 

Royal Oak Hospital Finance Authority
Michigan, Refunding RB, William
Beaumont Hospital, 8.25%, 9/01/39

 

 

1,205

 

 

1,438,336

 

 

 

 

 

 

 

 

 

 

 

 

19,801,212

 

Minnesota — 5.0%

 

 

 

 

 

 

 

City of Minneapolis Minnesota,
Refunding RB, Fairview Health
Services, Series B (AGC), 6.50%,
11/15/38

 

 

5,680

 

 

6,382,843

 

Nevada — 1.8%

 

 

 

 

 

 

 

County of Clark Nevada, RB, Las Vegas-
McCarran International Airport, Series
A (AGC), 5.25%, 7/01/39

 

 

2,295

 

 

2,336,425

 

New Jersey — 5.0%

 

 

 

 

 

 

 

New Jersey EDA, RB, School Facilities
Construction, Series Z (AGC), 6.00%,
12/15/34

 

 

1,000

 

 

1,136,810

 

New Jersey Health Care Facilities
Financing Authority, RB, Virtua Health
(AGC), 5.50%, 7/01/38

 

 

1,300

 

 

1,385,085

 

New Jersey State Housing & Mortgage
Finance Agency, RB, S/F Housing,
Series CC, 5.25%, 10/01/29

 

 

1,575

 

 

1,631,212

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
Series A (AGC), 5.50%, 12/15/38

 

 

2,000

 

 

2,191,060

 

 

 

 

 

 

 

 

 

 

 

 

6,344,167

 

New York — 2.9%

 

 

 

 

 

 

 

New York City Transitional Finance
Authority, RB, Fiscal 2009:

 

 

 

 

 

 

 

Series S-3, 5.25%, 1/15/39

 

 

900

 

 

958,383

 

Series S-4 (AGC), 5.50%, 1/15/29

 

 

2,465

 

 

2,751,556

 

 

 

 

 

 

 

 

 

 

 

 

3,709,939

 

Ohio — 0.5%

 

 

 

 

 

 

 

Ohio Higher Educational Facility
Commission, Refunding RB, Summa
Health System, 2010 Project (AGC),
5.25%, 11/15/40

 

 

625

 

 

624,138

 

Oregon — 0.4%

 

 

 

 

 

 

 

Medford Hospital Facilities Authority,
RB, Asante Health System, Series A
(AGC), 5.00%, 8/15/40

 

 

490

 

 

491,950

 

 

 

 

2

BLACKROCK INSURED MUNICIPAL INCOME INVESTMENT TRUST

MAY 31, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock Insured Municipal Income Investment Trust (BAF)
(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Puerto Rico — 1.2%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 6.38%,
8/01/39

 

$

1,350

 

$

1,515,780

 

Texas — 17.7%

 

 

 

 

 

 

 

City of Dallas Texas, Refunding RB
(AGC), 5.25%, 8/15/38

 

 

800

 

 

828,904

 

City of Houston Texas, Refunding RB,
Combined, First Lien, Series A (AGC):

 

 

 

 

 

 

 

6.00%, 11/15/35

 

 

2,600

 

 

2,990,546

 

6.00%, 11/15/36

 

 

2,215

 

 

2,542,333

 

5.38%, 11/15/38

 

 

1,000

 

 

1,085,450

 

Frisco ISD Texas, GO, School Building
(AGC):

 

 

 

 

 

 

 

5.38%, 8/15/39

 

 

1,415

 

 

1,526,276

 

5.50%, 8/15/41

 

 

3,365

 

 

3,661,288

 

Harris County Health Facilities
Development Corp., Refunding RB,
Memorial Hermann Healthcare
System, Series B, 7.13%, 12/01/31

 

 

500

 

 

563,665

 

Lower Colorado River Authority,
Refunding RB, LCRA Transmission
Services Project (AGC), 5.50%,
5/15/36

 

 

1,270

 

 

1,350,289

 

Lubbock Cooper ISD Texas, GO, School
Building (AGC), 5.75%, 2/15/42

 

 

500

 

 

539,370

 

North Texas Tollway Authority, RB,
System, First Tier, Series K-1 (AGC),
5.75%, 1/01/38

 

 

1,500

 

 

1,624,545

 

North Texas Tollway Authority,
Refunding RB, System, First Tier,
Series A:

 

 

 

 

 

 

 

(AGC), 5.75%, 1/01/40

 

 

1,500

 

 

1,612,395

 

(NPFGC), 5.13%, 1/01/28

 

 

2,920

 

 

3,005,848

 

Tarrant County Cultural Education
Facilities Finance Corp., Refunding
RB, Christus Health, Series A (AGC),
6.50%, 7/01/37

 

 

1,000

 

 

1,114,020

 

 

 

 

 

 

 

 

 

 

 

 

22,444,929

 

Utah — 1.3%

 

 

 

 

 

 

 

City of Riverton Utah, RB, IHC Health
Services Inc., 5.00%, 8/15/41

 

 

1,625

 

 

1,654,916

 

Virginia — 0.9%

 

 

 

 

 

 

 

Virginia Public School Authority, RB,
School Financing, 6.50%, 12/01/35

 

 

1,000

 

 

1,160,790

 

Washington — 2.2%

 

 

 

 

 

 

 

Washington Health Care Facilities
Authority, Refunding RB, Providence
Health, Series C (AGM), 5.25%,
10/01/33

 

 

2,650

 

 

2,757,007

 

Total Municipal Bonds – 114.1%

 

 

 

 

 

144,645,501

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (b)

 

Par
(000)

 

Value

 

District of Columbia — 0.7%

 

 

 

 

 

 

 

District of Columbia Water & Sewer
Authority, RB, Series A, 6.00%,
10/01/35

 

$

760

 

$

859,502

 

Florida — 33.1%

 

 

 

 

 

 

 

City of Jacksonville Florida, RB (NPFGC):

 

 

 

 

 

 

 

5.00%, 10/01/31

 

 

9,500

 

 

9,574,272

 

Better Jacksonville, 5.00%,
10/01/27

 

 

3,930

 

 

4,034,263

 

County of Pinellas Florida, RB (AGM),
5.00%, 10/01/32

 

 

9,500

 

 

9,607,176

 

Florida State Board of Education, GO,
Public Education, Series A (AGM),
5.00%, 6/01/27

 

 

9,000

 

 

9,449,820

 

Palm Beach County School District, COP,
Refunding, Series D (AGM), 5.00%,
8/01/28

 

 

9,190

 

 

9,300,739

 

 

 

 

 

 

 

 

 

 

 

 

41,966,270

 

Illinois — 2.6%

 

 

 

 

 

 

 

Illinois State Toll Highway Authority, RB,
Series B, 5.50%, 1/01/33

 

 

2,999

 

 

3,268,940

 

Kentucky — 0.7%

 

 

 

 

 

 

 

Kentucky State Property & Building
Commission, Refunding RB, Project
No. 93 (AGC), 5.25%, 2/01/27

 

 

898

 

 

974,669

 

Nevada — 1.8%

 

 

 

 

 

 

 

Clark County Water Reclamation
District, GO, Limited Tax, 6.00%,
7/01/38

 

 

2,000

 

 

2,247,640

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 38.9%

 

 

 

 

 

49,317,021

 

Total Long-Term Investments
(Cost – $187,409,649) – 153.0%

 

 

 

 

 

193,962,522

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.25% (c)(d)

 

 

1,690,151

 

 

1,690,151

 

Total Short-Term Securities
(Cost – $1,690,151) – 1.3%

 

 

 

 

 

1,690,151

 

 

 

 

BLACKROCK INSURED MUNICIPAL INCOME INVESTMENT TRUST

MAY 31, 2010

3


 

 

 

 

Schedule of Investments (concluded)

BlackRock Insured Municipal Income Investment Trust (BAF)
(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

Value

 

Total Investments
(Cost – $189,099,800*) – 154.3%

 

 

 

 

$

195,652,673

 

Other Assets Less Liabilities – 1.7%

 

 

 

 

 

2,122,929

 

Liability for Trust Certificate, Including Interest
Expense and Fees Payable – (22.7)%

 

 

 

 

 

(28,719,329)

 

Preferred Shares, at Redemption Value – (33.3)%

 

 

 

 

 

(42,278,705)

 

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

126,777,568

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of May 31, 2010, as computed for federal income tax purposes, were as follows:


 

 

 

 

 

Aggregate cost

 

$

160,373,294

 

 

 

Gross unrealized appreciation

 

$

8,116,138

 

Gross unrealized depreciation

 

 

(1,534,115

)

 

 

Net unrealized appreciation

 

$

6,582,023

 

 

 

 

 

(a)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(b)

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(c)

Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares Held
at August 31,
2009

 

Net Activity

 

Shares Held
at May 31,
2010

 

Income

 

CMA Florida
Municipal
Money Fund

 

 

5

 

 

(5

)

 

—

 

 

—

 

FFI Institutional
Tax-Exempt
Fund

 

 

9,202,751

 

 

(7,512,600

)

 

1,690,151

 

$

8,888

 

 

 

(d)

Represents the current yield as of report date.

 

 

 

•

Fair Value Measurements — Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments)

 

 

 

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the to the Trust’s most recent financial statements as contained in its semi-annual report.

 

 

 

The following table summarizes the inputs used as of May 31, 2010 in determining the fair valuation of the Trust’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities

 

Valuation Inputs

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

193,962,522

 

 

—

 

$

193,962,522

 

Short-Term
Securities

 

$

1,690,151

 

 

—

 

 

—

 

 

1,690,151

 

Total

 

$

1,690,151

 

$

193,962,522

 

 

—

 

$

195,652,673

 

 

 

 

 

1

See above Schedule of Investments for values in each state or political subdivision.

 

 

 

4

BLACKROCK INSURED MUNICIPAL INCOME INVESTMENT TRUST

MAY 31, 2010

Item 2 –

Controls and Procedures

 

 

2(a) –

The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

BlackRock Insured Municipal Income Investment Trust
   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock Insured Municipal Income Investment Trust
   
  Date: July 23, 2010
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock Insured Municipal Income Investment Trust
   
  Date: July 23, 2010
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Insured Municipal Income Investment Trust
     
  Date: July 23, 2010