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Other Income: Other Income in FY 2012 operating income increased to $97 million from $40 million in FY 2011, primarily due to commutation gains related to the reassumption of previously ceded books of business from two reinsurers.
Excluding the FGIC reinsurance transaction, MBIA's insured portfolio decreased by $73 billion during 2008 through maturities, amortization and refundings of insured exposure, partially offset by the reassumption of previously ceded exposure from five reinsurers.
8 percent in the first half of 2003, primarily due to lower ceding commission income that resulted from the portfolio reassumptions and cessions in the first quarter.