MBIA Inc. · Armonk, NY United States ·(NYSE: MBI)
Company Description
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This link will open in a new window MBIA will make sure that bonds get paid, no matter what. Through its independent subsidiary, National Public Finance Guarantee Corporation, MBIA is a leading provider of insurance for municipal bonds and stable corporate bonds (such as utility bonds). Separate from its municipal bond business, MBIA also manages assets for public-sector clients, guarantees bank deposits for government entities, and insures insurance companies' guaranteed investment contracts. Other lines of business include tax compliance services and buying and servicing municipal real estate tax liens. It operates from three US offices and three in Europe as well as ones in Mexico City, Tokyo, and Sydney. To read the full description, subscribe now.
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Key MBIA Inc. Financials
| Company Type | Public - NYSE: MBI Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | -$856.6 |
| 2008 Employees | 420 |
MBIA Inc. Executives
22 executives listed for MBIA Inc.'s Armonk, NY location.
| Title | Name & Bio | Contact |
| Chairman | Daniel Kearney | Network |
| CEO and Director | Joseph Brown | Network |
| President and COO | William Fallon | Network |
Competition
Competitive Landscape for MBIA Inc.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top MBIA Inc. Competitors
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