MBIA Inc. filings document the reporting of a financial guarantee insurance holding company and its subsidiaries in public finance and structured finance markets. Current Reports on Form 8-K furnish operating and financial results, Regulation FD materials, quarterly operating supplements, statutory statements for MBIA Insurance Corporation and National Public Finance Guarantee Corporation, and insured-portfolio information.
Proxy materials cover annual meeting governance, executive compensation, and shareholder voting matters. Other material-event filings describe capital-structure matters, material agreements, and portfolio exposure actions, including disclosures related to National's PREPA bankruptcy-claim remediation activity.
MBIA Inc. reported third-quarter 2026 total revenue of $26 million, versus $15 million in 2025, and a net loss attributable to MBIA Inc. of $24 million, compared with $8 million. For the nine months ended September 30, 2026, total revenue was $77 million versus $52 million, while the attributable net loss was $110 million versus $126 million. Operating activities used $110 million in cash, compared with $48 million provided in the 2025 period.
At September 30, 2026, loss and loss adjustment expense reserves were $399 million, versus $454 million at December 31, 2025, and insurance loss recoverable was $74 million, versus $43 million. MBIA attributed the reserve decrease mainly to claim payments and higher risk-free rates, and the recoverable increase primarily to reclassified PREPA and lease-backed recoveries on paid claims. National had $508 million of PREPA insured debt service outstanding. MBIA said a substantially different confirmed PREPA plan could materially adversely affect National’s reserves and recoveries. MBIA Inc.’s shareholders’ equity was a deficit of $2.391 billion.
MBIA Inc. reported a consolidated GAAP net loss of $24 million, or $(0.49) per share, for the third quarter of 2026, compared with a net loss of $8 million, or $(0.17) per share, in 2025. Its non-GAAP adjusted result was a $3 million loss, or $(0.06) per diluted share, versus adjusted net income of $51 million, or $(1.03) per diluted share. MBIA attributed the quarterly GAAP variance mainly to a smaller losses and loss adjustment expenses benefit. National recorded an expense versus a year-earlier benefit, largely related to its PREPA exposure; MBIA Corp. recorded a benefit primarily related to first-lien RMBS affected by higher interest rates.
For the nine months ended September 30, 2026, consolidated GAAP net loss was $110 million, compared with $126 million in 2025; adjusted results were a net loss of $18 million versus adjusted net income of $35 million. As of September 30, 2026, MBIA Inc. reported $335 million of liquidity. National had $974 million of statutory capital and $1.4 billion in claims-paying resources; gross par outstanding was $19.7 billion after its insured portfolio declined by $1.1 billion during the quarter. Its leverage ratio was 20 to 1, compared with 24 to 1 at year-end 2025.
MBIA Inc. common stock ownership is reported by Thomas G. Kahn. He beneficially owns 4,213,920 shares of MBIA Inc. common stock, representing 8.27% of the class. All reported shares are subject to sole voting and sole dispositive power, with no shared voting or dispositive authority.
MBIA Inc. received an amended Schedule 13G/A from Wolf Hill Capital Management and related reporting persons regarding their passive ownership of MBIA common stock. Wolf Hill Capital Management, LP and Gary Lehrman each report beneficial ownership of 2,118,014 shares of common stock, representing 4.2% of the class, all held with shared voting and dispositive power. Wolf Hill General Partner, LLC reports beneficial ownership of 1,971,708 shares, representing 3.9% of the class, also with shared voting and dispositive power. The filing states that the reporting persons each now hold 5 percent or less of MBIA’s outstanding common stock.
MBIA Inc. reported a net loss attributable to shareholders of $46 million, or $0.91 per share, for the quarter ended June 30, 2026, on total revenues of $27 million. For the first six months of 2026, the net loss attributable to MBIA was $86 million on revenues of $51 million.
At June 30, 2026, MBIA held $1,979 million of assets against $4,297 million of liabilities, resulting in negative shareholders’ equity of $2,326 million, and long‑term debt of $2,915 million. National Public Finance Guarantee Corporation had $554 million of PREPA‑insured debt service outstanding and has paid recent PREPA claims, while MBIA completed disposal of its remaining Zohar‑related discontinued operations. Management highlights ongoing risks from stressed public finance obligors, MBIA Insurance Corporation’s liquidity, and uncertainty around recoveries from RMBS and Puerto Rico exposures.
MBIA Inc. reported a consolidated GAAP net loss of $46 million, or $(0.91) per share, for the quarter ended June 30, 2026, compared with a GAAP net loss of $56 million, or $(1.12) per share, a year earlier. The improvement in net loss mainly reflected a reversal of legal expenses within a consolidated variable interest entity related to Zohar CDOs insured by MBIA Insurance Corporation and 2026 foreign exchange gains versus 2025 foreign exchange losses on euro‑denominated medium‑term notes. Non‑GAAP Adjusted Net Loss was $7 million, or $(0.14) per diluted share, versus $8 million, or $(0.17), primarily due to reduced losses and loss adjustment expenses at National Public Finance Guarantee Corporation, largely tied to its PREPA exposure.
For the six months ended June 30, 2026, MBIA recorded a consolidated GAAP net loss of $86 million, or $(1.71) per diluted share, compared with a net loss of $118 million, or $(2.40), for the first half of 2025. The lower loss reflected 2026 foreign exchange gains, favorable loss and LAE development at MBIA Insurance Corporation, prior‑year foreign exchange losses associated with the liquidation of MBIA Mexico, and a reversal of legal expenses in the Zohar‑related VIE, partially offset by the absence of 2025 VIE net realized gains. Non‑GAAP Adjusted Net Loss for the first half of 2026 was $15 million, or $(0.30) per diluted share, versus $16 million, or $(0.33), again driven mainly by lower losses and LAE at National.
As of June 30, 2026, MBIA’s liquidity totaled $337 million in cash, cash equivalents and liquid invested assets. There were no share repurchases in the second quarter; as of July 31, 2026, remaining share repurchase authorization was $71 million and common shares outstanding were 51.0 million. National reported statutory capital of $968 million, claims‑paying resources of $1.4 billion, and fixed income investments plus cash of $1.3 billion, with its insured portfolio declining by $0.7 billion to $20.8 billion of gross par and its leverage ratio improving to 21:1 from 24:1 at year‑end 2025. MBIA Insurance Corporation’s statutory capital was $106 million, up $27 million from year‑end 2025, with claims‑paying resources of $342 million and fixed income investments plus cash of $148 million, supported by an LAE benefit from increased estimated recoveries on Zohar CDOs.
MBIA Inc. investor Leeam S. Lowin reported beneficial ownership of 3,331,947 shares of MBIA Inc. common stock, par value $1.00 per share, on a Schedule 13G. This position represents 6.5% of the company’s common stock, based on 50,934,039 shares outstanding as referenced from a Quarterly Report on Form 10-Q.
Lowin reports sole voting power and sole dispositive power over all 3,331,947 shares, with no shared voting or dispositive power. The filing identifies Lowin as a United States citizen with a principal address in Greenwich, Connecticut.
MBIA Inc. Schedule 13G/A amendment shows Wolf Hill-related reporting persons hold 2,545,543 shares of Common Stock, representing 5% of the class. The filing breaks ownership across entities: Wolf Hill General Partner, LLC is listed with 2,221,972 shares (4.4%).
The filing lists shared voting and dispositive power for the reporting group and is signed by Gary Lehrman on 05/14/2026.
VAUGHAN RICHARD C reported acquisition or exercise transactions in this Form 4 filing.
MBIA Inc. director Richard C. Vaughan received a grant of common stock as part of his compensation. He was awarded 16,181 shares of restricted stock on May 12, 2026 at $6.18 per share.
The restricted stock has a one-year cliff vesting schedule, vesting on May 12, 2027. Following this grant, Vaughan directly holds 103,055 shares of MBIA common stock. This is a compensation-related equity award rather than an open-market purchase.
MBIA Inc. director Theodore Shasta reported a grant of restricted common stock. On May 12, 2026, Shasta acquired 16,181 shares at a reference price of $6.18 per share as a stock award, rather than through an open-market purchase.
The award has a one-year cliff vesting schedule, fully vesting on May 12, 2027. After this grant, Shasta holds a total of 66,327 MBIA common shares, including 20,000 shares owned via an Individual Retirement Account.