Reuters: Regulatory News: MBIA reports quarterly loss on derivative charge

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

The Best Way to Manage your Money. Start using Mint today to set a budget, track your goals and do more with your money. From our sponsors

MBIA reports quarterly loss on derivative charge Aug 7th 2013, 20:31 Wed Aug 7, 2013 4:31pm EDT Aug 7 (Reuters) - Bond insurer MBIA Inc reported a quarterly loss, compared to a year earlier profit as the company took a $182 million loss on the value its insured derivatives. The company reported a net loss of $178 million, or 92 cents per share, in the second quarter, compared with net income of $581 million, or $2.98 per share, a year earlier. The company had realized a $1.2 billion pre-tax gain on insured credit derivatives in the year-ago quarter. In the latest quarter, MBIA's adjusted pre-tax loss widened sightly to $160 million from $152 million. The company also said it was working on relaunching its municipal bond insurance unit, National Public Finance Guarantee Corp.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions