MBIA Inc. Reports Second Quarter 2018 Financial Results
MBIA Inc. (MBI)
US:NYSE Investor Relations:
investor.mbia.com
Company Research
Source: Business Wire
PURCHASE, N.Y.--(BUSINESS WIRE)-- MBIA Inc. (NYSE:MBI) (the Company) today reported a consolidated GAAP net loss of $146 million, or $(1.64) per share, for the second quarter of 2018 compared to a consolidated GAAP net loss of $1.2 billion, or $(9.78) per share, for the second quarter of 2017. The net loss for the second quarter of 2018 was driven by the losses associated with the deconsolidation of certain variable interest entities (VIEs) and the additional losses and loss adjustment expenses related to our Puerto Rico exposures. The decrease in year-over-year consolidated GAAP net loss was primarily due to the full valuation allowance on the Company’s deferred tax asset for the second quarter of 2017. On a pretax basis, net losses were lower by $64 million, primarily due to lower loss and loss adjustment expenses, favorable gains for the fair value of interest rate swaps as a result of higher interest rates in 201
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- 5/9/24 - Miss
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Sec Filings
- 5/9/24 - Form 8-K
- 5/9/24 - Form 3
- 5/9/24 - Form 10-Q
- MBI's page on the SEC website