Joseph "Jay" W. Brown returned to Armonk, N.Y-based MBIA Inc. to resume his positions as chairman, chief executive officer and president of the financial guarantee insurer effective immediately, the company said today.

He replaces Gary C. Dunton, who resigned from MBIA.

Until May 2004, Mr. Brown served as chairman and CEO of MBIA Inc., and of its main operating unit, MBIA Insurance Corporation. He retired as executive chairman of MBIA in May 2007. He joined the company as chairman and CEO in 1999, serving as a director since 1986.

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