Smaller Derivatives Gains Sink MBIA’s Q2 Profits By 89%

10 Aug 2011

Smaller gains from derivatives sent second-quarter profits at bond insurer MBIA down 89% from a year earlier.

Smaller gains from derivatives sent second-quarter profits at bond insurer MBIA down 89% from a year earlier. The bond insurer also announced that its MBIA Insurance unit has reached an agreement with counterparties to tear up USD8.7 billion in collateralized debt obligations.

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