Boston, MA 09/27/2013 (wallstreetpr) – In Thursday’s trading, MBIA Inc (NYSE:MBI) stock dropped by 2.96%. The opening price of the shares was $11.13 which climbed to an intraday high of $11.28 and dropped to a close of $10.81. Approximately 3.28 million shares were traded on Thursday and an average volume of 2.37 million shares was traded over a 30 day period. The 52- week low of the shares was $6.78 and the 52-week high was $16.15. The company has a market capitalization of 2.09 billion.
MBIA Inc (NYSE:MBI) was incorporated on 12 November 1986. Along with all its consolidated subsidiaries, the company operates the financial-guarantee insurance businesses in this industry. It provides various asset-management advisory services. All these activities are managed via 3 business segments: Structured finance and international insurance, United States public finance insurance and advisory services.
MBIA Inc (NYSE:MBI) U.S public-finance insurance business is operated via the National Public Finance Guarantee Corporation as well as its national subsidiaries. Its structured international insurance and finance business is mainly operated via MBIA Insurance Corporation and also its subsidiaries (MBIA Corp). The company’s asset-management advisory-services business is mainly operated via Cutwater Holdings, LLC as well as its subsidiaries.
The company also manages some business activities via its asset/liability products, corporate and conduit segments. Its corporate segment includes the revenues and expenses that are created from its general corporate activities. Funding programs are managed via the liability/asset products and the conduit segments are in currently in a wind-down mode.
MBIA Corp is also the owner of MBIA UK Insurance Limited. This is a financial-guarantee insurance company. It is regulated & supervised by the Financial Services Authority in the U.K. It is authorized to carry-out its insurance business in the U.K as well as in the ‘European Economic Area’. This is on a cross-border services basis.