Pratt Joins NSM Insurnace in Pennsylvania

Wednesday 28th of July 2010 07:49:43 AM
Posted by admin / Under Monoline Insurance

Geoff Pratt is joining NSM Insurance Group as director of Workers' Compensation Programs. Pratt brings 23 years of underwriting and risk management experience in monoline workers compensation.

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Barclays To Offload $12.3b Risky Assets

Wednesday 28th of July 2010 07:49:43 AM
Posted by admin / Under Monoline Insurance

With an aim to minimise the risk of further writedowns, Barclays has come up with a plan to sell approximately $12.3 billion of risky credit securities, including $8.2 billion of structured credit securities insured by monolines, $2.3 billion of residential mortgage-backed bonds and $1.8 billion of unpackaged mortgages, to Protium Finance.

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We are the monolines now

Wednesday 28th of July 2010 07:49:43 AM
Posted by admin / Under Monoline Insurance

Before the market in (CDOs) started to implode in 2007, many of these securities constructed out of low-quality subprime loans were sold as AAA investments - the highest quality investments, up there with the sovereign debt of the richest nations - partly because some of these bonds were insured against default by so-called monoline insurers.

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FT.com / In depth - Monoline meltdown?

Wednesday 28th of July 2010 07:49:43 AM
Posted by admin / Under Monoline Insurance

Monolines, companies that insure against the risk of a bond or other security defaulting, have in the past weeks come under fire from ratings agencies, after concerns grew over their ability to meet the obligations to the bond issuers they insure.

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Yet Another Tough Week - BetOnMarkets.com

Wednesday 28th of July 2010 07:49:43 AM
Posted by admin / Under Monoline Insurance

It was yet another tough week for global stock markets, with the Dow Jones & S&P 500 declining 3.78% on the week and the FTSE down 3.37%. With oil rallying $4, renewed trouble in the financial sector, downgrades to monoline insurers and trouble in the Middle East, markets encountered an ugly storm on Friday...

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Bond insurers

Wednesday 28th of July 2010 07:49:43 AM
Posted by admin / Under Monoline Insurance

The raison d’être of monolines was to provide investors with the assurance that no matter what happened to the finances of the local authority issuing the bond, the interest and principal would be repaid. That was lost the moment monolines became duolines and turned to structured finance.

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