Writedowns land market with $2bn Q3 loss

The specialist financial guarantee, mortgage and bond insurance sector has suffered more than any other in the insurance industry from this year’s credit crisis. The table lists the financial results for a selection of 10 companies in the sector, shown in order of shareholders’ funds. Collectively the companies recorded a third quarter loss of just short of $2bn, mostly because of writedowns. The total does not include figures from CIFG, generally regarded as one of the worst affected companies.