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.
MBIA IncQ2 2026 net loss of $46 million, though narrower than prior year, reflects ongoing losses.
Insured portfolio declined to $20.8 billion and PREPA exposure fell after paying claims, indicating reduced business.
