Items Tagged with 'Derivative'


  • Ambac's RMBS Losses Continue

    Bond insurer Ambac Financial Group [stock ABK][/stock] lost a net $392.2m, or $1.36 a share, in Q109 as its platform linked to residential mortgage-backed securities (RMBS) continued to deteriorate.
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  • Assured Guaranty Gains Despite Ratings Cut

    Assured Guaranty [stock AGO][/stock] posted $85.5m in first-quarter earnings, compared with the $169.2m loss in the year-ago quarter. A $66.9m improvement in pre-tax underwriting results and a significant improvement in after-tax unrealized losses on credit derivatives drove the year-over-year disparity, company officials said in the earnings statement.
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  • Rising Defaults, Derivative Trades Lead Radian Losses

    Private mortgage insurer Radian Group [stock RDN][/stock] posted a $217.4m net loss, or $2.69 per share, for Q109. "Our net loss in the first quarter was primarily attributable to unrealized mark to market losses on derivatives and the continued increase in mortgage insurance defaults," CEO S. A. Ibrahim said in the company's earnings statement. "Despite facing difficult operating conditions, we believe that our mortgage insurance franchise remains strong with sufficient capital to continue writing quality new business throughout 2009."
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  • Bond Insurers Post Losses on Weak RMBS

    Bond insurer MBIA Inc. [stock MBI][/stock] said late Monday it had recorded a $2.7 billion net loss -- or $12.29 per share -- for the full year 2008, up from the $1.9 billion -- or $15.17 per share -- lost in all of 2007. The company said it saw $1.2 billion lost in the fourth quarter alone, although this figure showed a decline from year-ago levels, when the company posted a $2.3 billion net loss in the fourth quarter 2007.
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