Turnaround welcomed by Wall Street as shares surge
US Bond insurer MBIA announced a Q1 net profit of $696.7m signifying a massive turnaround in its fortunes from a loss of $2.4bn for Q1 last year, prompting its shares to surge.
Financial highlights
- Total income $1.9bn
- Income before tax $985m
- Net income $ 696.7m
“MBIA continues to be affected by the on-going credit crisis, but we believe our financial position is more than adequate, and we’re making progress in positioning our businesses for the future,” said president and chief financial officer Chuck Chaplin.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
