Financial guarantee services provider MBIA Insurance Corp. announced that it is transferring its global marketing effort to London, and has opened an office there.
John B.Caouette, Vice Chairman of MBIA, will head up the company’s international market development efforts. “We believe that our international business is one of the most critical long-term growth areas for MBIA,” he said.
Triple A rated MBIA “provides financial guarantees for international infrastructure and project financings, local government issues, asset securitisations and structured finance transactions and obligations of sovereigns.”
Financial guarantee insurance from companies like MBIA greatly increase the marketability of securities and reduce the costs of such borrowings. Caouette sited favorable business conditions in Europe as offering “strong opportunities for us.” He also saw the Asian and Latin American markets as continuing to “offer significant prospects for expansion.”
In addition to the new office, MBIA is already established in Paris,Madrid, Sydney, Singapore and Tokyo.
It can be contacted on the Internet at: http://www.mbia.com.
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