MBIA Inc., the bond insurer that reached a $1.7 billion settlement with Bank of America Corp. this week, will pay $350 million to Societe Generale SA to resolve litigation, Bloomberg News reported yesterday. The agreement settles claims over the insurer’s 2009 restructuring, which Societe Generale and other banks had sought to reverse, saying that it exposed them to losses by transferring assets. Societe Generale is the last bank to settle with MBIA in the case following the accord with Bank of America, and the agreement will end the litigation against the insurer.
