The end of the monoline? Monoline insurers contemplating bleak future

The huge growth in products and sophistication in global credit markets has been a boon for almost all participants – with one notable exception. Monoline insurers are contemplating a bleak future in the face of changing issuer and investor attitudes towards credit risk. Even their great hope – a return of risk with a turn of the credit cycle – might not be enough to save some of them. Louise Bowman reports.