Bond Insurers Enjoy Profitable Year in 2003 Despite Slow Volume in MBS & ABS Markets Bond insurers reported a record $3.4 billion in combined revenue in 2003, even though the volume of insured business – including the MBS and ABS sectors – was down. The Association of Financial Guaranty Insurers says its 10 member companies reported a 17 percent increase over the previous year’s record revenue levels. Net income also set a new record, at