MBIA Inc.

Public Company, Headquarters Location
113 King St., Armonk, NY 10504-1611, United States
(914)273-4545, (914)765-3163 fax, http://www.mbia.com

Primary SIC: Surety Insurance, Primary NAICS: Direct Property and Casualty Insurance Carriers
Description: MBIA Inc. was incorporated in Connecticut in 1986. The company provides financial services on a global basis, including financial guarantee insurance and investment management services. The financial guarantee business is conducted through two wholly-owned subsidiaries: MBIA Corp. and MBIA Insurance Corp. of Illinois. The investment management business is conducted primarily through the wholly-owned subsidiary MBIA Asset Management, LLC. MBIA Corp. is the successor to the business of the Municipal Bond Insurance Association, which began writing financial guarantees for municipal bonds in 1974. The financial guarantee insurance provides investors with an unconditional and irrevocable guarantee of the payment of the principal, interest or other amounts owing on insured obligations when due. The investment management services business has three operating segments: asset/liability products, advisory services and conduits. Asset/liability products raise funds for investment through the issuance of investment agreements and medium-term notes which are guaranteed by MBIA Corp., a New York-domiciled licensed financial guarantor. Advisory services include cash management, discretionary asset management and structured products provided on a fee-for-service basis for public, not-for-profit corporate and financial services clients. Conduits provide funding for multiple customers by issuance of commercial paper and medium-term notes guaranteed by MBIA Corp. in exchange for administrative fees.Insurance: Underwriter of surety insurance. Finance: Holding company.