MBIA Inc

MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States through its subsidiaries. It operates through three segments: U.S. Public Finance Insurance, Corporate, and International and Structured Finance Insurance. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable debt of U.S. political subdivisions, utilities, airports, health care institutions, higher education facilities, housing authorities, and similar agencies, as well as obligations issued by private entities. It also insures non-U.S. public finance and global structured finance, including asset-backed obligations, sovereign and sub-sovereign bonds, and bonds financing toll roads, bridges, public transportation facilities, and other infrastructure, and offers third-party reinsurance agreements. MBIA Inc. was founded in 1973 and is headquartered in Purchase, New York.

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MBIA Q2 2026 Loss Narrows, PREPA Settlement Offer Rejected

MBIA Inc. reported a consolidated GAAP net loss of $46 million, or $0.91 per share, for the second quarter of 2026, compared with a loss of $56 million, or $1.12 per share, in the prior-year period. Adjusted net loss was $7 million, or $0.14 per share, versus $8 million, or $0.17 per share, a year earlier. The company's National Public Finance Guarantee Corporation saw its insured portfolio decline to $20.8 billion in gross par outstanding as of June 30, 2026, down about $1.5 billion from year-end 2025, while its PREPA exposure fell to $390 million after paying claims on bonds that matured July 1, 2026. MBIA Insurance Corp. posted statutory net income of $27 million, driven by recoveries related to Zohar CDOs, and its claims paying resources rose to $342 million. Management noted that the Puerto Rico Oversight Board nearly doubled its settlement offer to $3 billion, but bondholders representing about 90% of claims rejected it as inadequate, with PREPA bonds trading around $0.75 versus the offer's implied value of $0.30 to $0.40.

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