X hits on this document

Powerpoint document

Finance 431: Property-Liability Insurance - page 25 / 35

90 views

0 shares

0 downloads

0 comments

25 / 35

Financial Losses

Two market leading companies had big losses each reporting multibillion dollar fourth quarter net losses.

MBIA Insurance Corp.

Net losses of $2.3 billion.

$3.4 billion write down due to sub-prime loans crisis.

Predicted losses from sub-prime crisis total $11.6 billion.

Ambac Assurance Corporation

Net losses of $3.2556 billion.

$5.21 billion write down due to sub-prime loans crisis.

ACA had third quarter losses of $1 billion.

PMI Group reported a fourth quarter loss of $236 million due to its U.S. mortgage insurance operations.

Other companies suffered or will suffer significant losses as well, this can be seen from rating cuts.

Document info
Document views90
Page views90
Page last viewedFri Dec 09 01:22:07 UTC 2016
Pages35
Paragraphs399
Words2225

Comments