Bond Insurer Wants to Split Up
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FGIC Corp, a bond insurer whose main unit has lost its top credit ratings from the three major agencies, has told New York regulators it wants to split into two companies.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , which has been at the center of a bid-rigging scandal rocking the insurance industry, on Tuesday said it will cut 3,000
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About 50 large bond investors,  including pension funds, insurance companies, mutual funds and  other managers, have banded together to lobby companies for  better investment-grade bond contracts, The Wall Street Journal  reported on Monday.
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Altria Group Inc., the parent company of cigarette maker Philip Morris and Kraft Foods Inc., may split into three separate units to improve shareholder value, according to Chief Executive Louis Camilleri.
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Standard & Poor's on Wednesday slashed its outlook for bond insurers Ambac Financial Group, MBIA Insurance Corp and XL Capital Assurance, indicating their triple-A credit ratings were at heightened risk of being cut in the next two years due to deteriorating mortgage debt.
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NEW YORK, Dec. 28 -- Warren E. Buffett's Berkshire Hathaway is entering the bond insurance business in a move that could lower borrowing costs for local governments having a hard time raising money during the credit crunch.
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The worldâs largest bond insurer slashed its common stock dividend 62 percent as part of a plan to strengthen capital and preserve its âtriple-Aâ credit ratings.
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After crashing 70.5% over the past two days, the bond insurer lifted 10.6%after calling off its plans to raise $1 billion.
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Warren Buffett said on Tuesday he has  made a pitch to the three largest bond insurers to reinsure  $800 billion in municipal bonds, but had been rebuffed by one  of the companies, while the other two have not yet responded.
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NEW YORK (Dow Jones/AP) -- Altria Group Inc. is beginning to make the needed preparations to possibly split up into several parts in order to maximize shareholder value, chairman and chief executive Louis Camilleri said Thursday.
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American International Group, one of the world&#39;s largest insurers, continues to clash with regulators, but Wall Street seems more puzzled than alarmed.
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Warren E. Buffettâs holding copmany Berkshire Hathaway Inc. agreed to expand its new bond insurer nationwide in exchange for faster licensing.
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British insurance group Resolution faced a bidding war on Friday as Pearl Assurance trumped an agreed bid from Standard Life.
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MBIA Inc , the world's largest bond insurer, said it has exposure to $30.6 billion in complex mortgage securities that it insures, an amount that eclipses its entire net worth.
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In a sign that Warren Buffett's new bond insurer may find eager customers, Rhode Island has asked the billionaire investor to bring the new venture to the state to help maintain and increase value of its bonds.
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FGIC Corp, a bond insurer whose main  unit has lost its top credit ratings from the three major  agencies, has told New York regulators it wants to split into  two companies, New York Insurance Superintendent Eric Dinallo  said on Friday.
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Warren Buffett's Berkshire Hathaway Inc   is starting a bond insurer that would help state and local governments lower their borrowing costs, posing a direct challenge to established rivals struggling with deteriorating credit markets.