by Calculated Risk on 8/14/2008 05:36:00 PM

From Bloomberg: Wachovia's BluePoint Insurance Unit Files Bankruptcy

Wachovia Corp.'s BluePoint Re Ltd. unit, which insures structured finance and municipal transactions, filed for bankruptcy protection, citing defaults on securitized mortgages.

This is a small reinsurer, but it's interesting that Wachovia has decided not to provide additional funding.