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MBIA posts fourth-quarter profit on derivative gains
February 27, 2013 / 9:12 PM / 5 years ago

MBIA posts fourth-quarter profit on derivative gains

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.

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