MBIA replaces CEO with former chief

02/20/2008 | Financial Times (free content) · Bloomberg

MBIA has brought back its former chief executive as it attempts a broad restructuring. Jay Brown said he would consider splitting MBIA's business to appease regulators and retain the company's crucial triple-A credit ratings. MBIA, the world's biggest insurer of bonds, insures municipal bonds but also has a business insuring structured finance, which has been battered by exposure to subprime mortgages.

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Financial Times (free content) · Bloomberg

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