Democratic Underground - Regulators probing deals with MBIA, French insurer says

Reply #71: Regulators probing deals with MBIA, French insurer says [View All]

UpInArms

(1000+ posts) Send PM | Profile | Ignore

Wed Apr-13-05 12:03 PM
Response to Reply #66

71. Regulators probing deals with MBIA, French insurer says

http://www.marketwatch.com/news/story.asp?guid=%7B4DD4E8A6%2D3B22%2D4AB7%2DB480%2DA85E7FCDC4B3%7D&siteid=mktw

SAN FRANCISCO (MarketWatch) -- French insurer Axa SA has been subpoenaed by New York Attorney General Eliot Spitzer and the Securities and Exchange Commission as part of their investigations into finite risk, or non-traditional, reinsurance.

The regulators want information about transactions between Axa Re, a reinsurance unit of Axa, and bond insurer MBIA Inc. (MBI: news, chart, profile) relating to the 1998 bankruptcy of Pennsylvania non-profit hospital group Allegheny Health, Education and Research Foundation (AHERF), Axa said in a statement.

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Reply #71: Regulators probing deals with MBIA, French insurer says [View All]