MBIA Inc. (MBI). The New York-based bond insurer said today it slipped into a fourth quarter loss on the back of "unprecedented" loss reserving and impairment activity. For the three months ended Dec 31, MBIA reported a net loss of $2.3 billion, or $18.61 per share, compared with a $181 million profit, or $1.32 per share the same time last year.
For the full year, the group reported a loss of $1.9 billion, or $15.22 per share, against a profit of $819.3 million, or $5.99 per share last time.
The stock traded down over $2 per share after the close.
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