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    Paul Saunders • Hutch Capital

    No verifiable information about Paul Saunders working as an analyst at Hutch Capital could be found, including specific details about his title, company coverage, performance metrics, career timeline, or professional credentials. Available search results do not reference Paul Saunders at Hutch Capital in any analytical or executive capacity. There is no LinkedIn profile or external data supporting the existence of Paul Saunders in this role or with the requested performance and coverage specifics.

    Paul Saunders's questions to MBIA Inc (MBI) leadership

    Paul Saunders's questions to MBIA Inc (MBI) leadership • Q2 2025

    Question

    Paul Saunders of Hutch Capital asked for clarification on the amount of claims transferred to the custodian, questioning if all eligible claims were included. He also inquired about the reason for a slight decrease in National's salvage value and the corresponding increase in loss reserves, and sought management's perspective on whether the recent positive market reaction to the oversight board changes would be factored into recovery assumptions.

    Answer

    William Fallon, Director & CEO, clarified that claims are only transferred after a bond is fully paid off, which explains the specific amount. Joseph Schachinger, Executive VP & CFO, attributed the change in salvage and loss reserves to minor modifications in assumptions within their PREPA scenarios. Fallon added that this was primarily related to an extended timeline for recovery, not a change in the expected dollar amount. He confirmed that new information from the reconstituted board will be factored into Q3 reserve calculations.

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    Paul Saunders's questions to MBIA Inc (MBI) leadership • Q4 2024

    Question

    Paul Saunders questioned why the uncertainty surrounding the PREPA exposure is a roadblock to a potential sale of MBIA and why a contingent value instrument couldn't be used to carve out this specific risk from a deal.

    Answer

    Executive William Fallon acknowledged that structuring a sale to exclude the PREPA obligation has been explored. However, he stated that all offers incorporating such a structure have been 'very inadequate' for shareholders. Fallon elaborated that due to the significant size and complexity of the PREPA claim, prospective buyers have been unwilling to offer an acceptable price, making it more prudent for MBIA to await a resolution.

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