Aug 8 U.S. bond insurer MBIA Inc's
second-quarter net income rose more than four-fold, helped by a
$1.2 billion pre-tax unrealized gains on insured credit
MBIA shares rose 6 percent in extended trade. They closed at
$8.76 on Wednesday on the New York Stock Exchange.
The company's net income available to common shareholders
rose to $581 million, or $2.98 per share, from $137 million, or
68 cents per share, a year earlier.
MBIA's total premiums earned in the U.S. public finance
insurance segment rose 23 percent to $130 million.
The company reported an adjusted pre-tax loss of $152
million in the quarter, compared with a profit of $161 million a