• Propertycausualty360

    Court Clears Way for MBIA Split as Company Deals with Detroit-Bond Exposure

    March 06, 2013

    N.Y. State Supreme Court upholds insurance departments decision to split MBIA in two, but yesterday, subsidiary National Public Finance Guarantee Corp. revealed it has more than $100 million in general-obligation-debt exposure to the city of Detroit.

  • Propertycausualty360

    Goodbye, Joe

    October 29, 2012

    Were going to miss Joe. No, not our current vice president: Joe Plumeri, outgoing CEO of Willis Group Holdings.

  • Propertycausualty360

    Goodbye, Joe

    October 22, 2012

    We are going to miss Joe. No, not the vice president. Joe Plumeri, CEO of Willis Group Holdings.

  • Propertycausualty360

    BofA Tells Judge MBIA Split Must Be Annulled

    May 16, 2012

    Bond insurer MBIA Inc's restructuring during the financial crisis must be annulled because it was based on bad information, a lawyer for banks challenging the restructuring said on Tuesday.

  • Propertycausualty360

    Banks Set to Argue MBIA Split Was Unreasonable

    May 15, 2012

    Bank of America Corp and Societe Generale on Tuesday will begin opening arguments in a New York State courtroom to overturn the 2009 restructuring of bond insurer MBIA Inc.

  • Propertycausualty360

    MBIA & Banks Go To Trial

    April 24, 2012

    After close to three years of legal wrangling, MBIA and a group of banks will finally fight it out in court come May 14 after a New York State judge set a date for trial.

  • Propertycausualty360

    No Bonuses for MBIA Chief Execs

    March 21, 2012

    The senior chief executives of MBIA will not be getting a bonus this year, though the compensation committee agreed that they are entitled to one.

  • Propertycausualty360

    Fur Flies Between MBIA & Banks

    March 13, 2012

    The testiness between guaranty insurer MBIA and a group of banks over insurance coverage of structured financial instruments got more personal as each side accused the other of wrongdoing in court.

  • Propertycausualty360

    Moody’s: AIG, MetLife, Prudential Cross SiFi Threshold

    November 08, 2011

    American International Group, MetLife and Prudential are the three most likely U.S. insurers to be deemed as systemically important enough to be subject to federal as well as state regulation, says Moodys Investors Service in a report.

  • Propertycausualty360

    Banks May Proceed With Case Against MBIA

    June 30, 2011

    The New York Court of Appeals ruled that a group of banks can go ahead with their lawsuit against MBIA, which questions the validity of the break-up of the insurer.