MBIA in $184bn municipal bond reinsurance deal for FGIC
MBIA said that it has agreed to reinsurance $184bn of municipal bonds for Financial Guaranty Insurance Company. The group is expected to receive unearned premiums of around $741m in connection with the deal.
MBIA said that FGIC's public finance portfolio consists "exclusively of investment grade credits, primarily in the general obligation, water and sewer, tax-backed and transportation sectors, and does
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