MBIA's Profits Decline 2.3% in 3Q; Adjusted Direct Premiums Fall 62%

Chang, Helen
November 2004
Bond Buyer;11/3/2004, Vol. 350 Issue 32003, p7
Trade Publication
The article reports on the financial condition of MBIA Inc. MBIA Inc. parent company of bond insurer MBIA Insurance Corp. revealed that its third-quarter profits fell by 2.3 percent, which was due to narrow credit spreads, some price deterioration, and weak new international business. Premiums for the first nine months of 2004 fell by 35 percent to 762.2 million dollars from last year's record 1.18 billion dollars. Structured finance premiums were down by 61 percent to 85.3 million dollars from last year's 220.2 million dollars.


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