Group Will Fund New Reinsurance Firm
NU Online News Service, Oct. 6, 3:56 p.m. EDT?MBIA Inc., RenaissanceRe Holdings Ltd., Koch Financial Corp. and PartnerRe Ltd. announced they are discussing formation of a Bermuda-based financial guaranty reinsurance company with $350 million in capital.
MBIA said it is anticipated the proposed new firm would have total claims-paying resources of approximately $700 million.
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