MBIA posts fourth-quarter profit on derivative gains

Wed Feb 27, 2013 4:11pm EST

Feb 27 (Reuters) - Bond insurer MBIA Inc reported a quarterly profit, helped by changes in the fair value of insured credit derivatives.

Net profit was $636 million, or $3.26 per share, for the quarter ended Dec. 31 compared to a loss of $626 million, or $3.23 per share, a year ago.

Total premium earned in the U.S. public finance insurance segment rose eight percent to $122 million.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.