MBIA plays down improved results

MBIA has reported net profits of $1.7 billion for the second quarter of 2008, compared with $211.8 million over the same period last year. But the monoline insurer has denied that the results signal a turn in the firm’s fortunes.

Like the results of fellow monoline Ambac, the company attributed the positive development to moves in CDS prices during the quarter, and results for the first half of the year remain at a net loss of $706.4 million. The amount attributable to unrealised gains in credit

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: