Last $12.24 USD
Change Today -0.06 / -0.49%
Volume 887.7K
MBI On Other Exchanges
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As of 1:25 PM 04/24/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

113 King Street

Armonk, NY 10504

United States

Phone: 914-273-4545

Fax:

bilities issued by the company and its subsidiaries. Structured Finance and Asset-Backed Obligations Structured finance obligations insured by MBIA Corp. typically are securities repayable from expected cash flows generated by a specified pool of assets, such as residential and commercial mortgage loans, insurance policies, consumer loans, corporate loans and bonds, trade and export receivables, leases for equipment, aircraft and real property, private sector student loans, and infrastructure projects. Structured finance obligations are either secured by undivided interests or collateralized by the related assets. ASSET MANAGEMENT ADVISORY SERVICES BUSINESS The company conducts its asset management advisory services business primarily through wholly-owned subsidiaries of Cutwater Holdings, LLC (together, Cutwater). Cutwater offers advisory services, including cash management, discretionary asset management, and structured products on a fee-for-service basis. The company offers these services to public, not-for-profit, corporate, and financial services clients, including the company and its subsidiaries. In its asset management advisory services business, the company’s registered investment advisors provide fixed-income asset management services for third parties and the investment portfolios of the company and its affiliates (including the wind-down businesses) on a fee-for-service basis. The company’s advisory services are offered in two major product lines, traditional and structured. Within the traditional product line, Cutwater offers cash management, customized asset management, discretionary asset management and fund accounting services to governments, insurance companies (including the company’s insurance subsidiaries), corporations, pension funds, unions, endowments, foundations, and investment companies in both pooled and separate account formats. These services are offered through registered investment advisers, and Cutwater receives asset management and administrative fees as compensation. Within the structured product line, Cutwater manages asset/liability programs and conduits (the wind-down businesses), collateralized debt obligations and other funding vehicles for banks, insurance companies, program trustees, and investment companies. Cutwater’s advisory services are offered through two principal operating subsidiaries, Cutwater Asset Management Corp. (Cutwater-AMC), the Securities and Exchange Commission (SEC)-registered investment adviser and Financial Industry Regulatory Authority (FINRA) member firm; and Cutwater Investor Services Corp. (Cutwater-ISC), a SEC-registered investment adviser. OTHER ADVISORY SERVICES The company operates a financial advisory and asset management business in Europe through its FSA licensed and regulated subsidiary Trifinium Advisors (UK) Limited. Its activities include managing MBIA UK’s investment portfolio. Regulation Insurance Regulation National and MBIA Corp. are incorporated and subject to primary insurance regulation and supervision by the state of New York. MBIA UK and MBIA Mexico are organized and subject to primary regulation and supervision in the United Kingdom and Mexico, respectively. The company’s insurance subsidiaries are also licensed to issue financial guarantee policies in multiple jurisdictions as needed to conduct their business activities and are subject to insurance regulations in those jurisdictions. The company’s domestic insurance companies are licensed to provide financial guarantee insurance under Article 69 of the New York Insurance Law. Advisory Services Regulation Cutwater is subject to various federal and state securities and investment regulations. As an SEC-registered investment adviser and a FINRA member firm, Cutwater-AMC is subject to the requirements of the Investment Advisers Act of 1940, a Federal statute which regulates registered investment advisers, and to FINRA rules and regulations. As an adviser to registered investment companies, Cutwater-AMC and Cutwater-ISC are also responsible for compliance with applicable provisions of the Investment Company Act of 1940. As sponsor/administrator of

 

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Industry Analysis

MBI

Industry Average

Valuation MBI Industry Range
Price/Earnings 9.6x
Price/Sales 2.2x
Price/Book 0.7x
Price/Cash Flow 9.5x
TEV/Sales NM Not Meaningful
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