FSA Holdings 4Q Profits Increase 15.6%

Helen Chang
February 2005
Bond Buyer;2/10/2005, Vol. 351 Issue 32068, p6
Trade Publication
The article reports that Financial Security Assurance Holdings Ltd. (FSA) reported fourth-quarter profits of $104.7 million, up 15.6% from the same period last year. Earnings for the full year rose 25% to $363.8 million. Fourth-quarter operating earnings climbed to $93.7 million, up 28% from $73.1 million in the fourth quarter of 2003. For the full year, operating earnings were up 22% to $326.1 million from $267.2 million. Despite tight spreads in some sectors and a highly competitive environment for financial guaranty products, FSA continued to grow originations and achieved substantial earnings and adjusted book value growth in 2004, according to FSA chairman and chief executive officer Robert Cochran.


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