Every 8-K that MBIA Inc. (MBI) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow MBI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MBI filings page.
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. reported a consolidated GAAP net loss of $40 million, or $(0.80) per diluted share, for the first quarter of 2026, improving from a net loss of $62 million, or $(1.28) per diluted share, a year earlier. The smaller loss mainly reflected favorable changes in foreign exchange, investment gains and loss and loss adjustment expenses, partly offset by prior-year gains from extinguishing variable interest entity debt that did not recur.
MBIA’s non-GAAP Adjusted Net Loss was $8 million, or $(0.16) per diluted share, unchanged from the first quarter of 2025. Liquidity at the holding company totaled $353 million as of March 31, 2026. National Public Finance Guarantee Corporation ended the quarter with $950 million of statutory capital, $1.4 billion of claims-paying resources and $21.5 billion of insured gross par outstanding, while MBIA Insurance Corporation reported statutory capital of $79 million and claims-paying resources of $316 million.
MBIA Inc. reported a consolidated GAAP net loss of $177 million, or $(3.58) per diluted share, for 2025, a substantial improvement from a $447 million loss, or $(9.43) per share, in 2024. The turnaround was driven mainly by better loss and loss adjustment expense experience at National Public Finance Guarantee Corporation related to its Puerto Rico Electric Power Authority exposure.
On a non-GAAP basis, MBIA generated Adjusted Net Income of $23 million, or $0.46 per diluted share, in 2025 versus an Adjusted Net Loss of $184 million in 2024. For the fourth quarter of 2025, MBIA’s GAAP net loss was $51 million and Adjusted Net Loss was $12 million.
As of December 31, 2025, MBIA’s liquidity was $357 million. National had statutory capital of $0.9 billion, claims-paying resources of $1.4 billion, and gross par outstanding of $22.3 billion, with insured leverage reduced to 24-to-1. MBIA Insurance Corporation reported statutory capital of $79 million and claims-paying resources of $317 million.
MBIA Inc. reported third-quarter 2025 results, showing a consolidated GAAP net loss of $8 million (−$0.17 per share), an improvement from a $56 million loss a year ago. The change was driven primarily by a losses and LAE benefit tied to National Public Finance Guarantee Corporation’s PREPA exposure, including the sale of custodial receipts and higher estimated recoveries.
Non-GAAP Adjusted Net Income was $51 million ($1.03 per diluted share) versus an Adjusted Net Loss of $174 thousand last year. Year-to-date, MBIA posted a GAAP net loss of $126 million (−$2.57 per diluted share), with non-GAAP Adjusted Net Income of $35 million ($0.70 per diluted share).
As of September 30, 2025, liquidity totaled $354 million. No shares were repurchased in the quarter; as of October 31, 2025, remaining authorization was $71 million with 50.5 million shares outstanding. National reported statutory capital of $1.0 billion, claims-paying resources of $1.5 billion, and gross par outstanding of $23.2 billion (leverage 23:1). A webcast and conference call is scheduled for November 5 at 8:00 AM ET.
MBIA Inc., through its National subsidiary, disclosed that on August 14, 2025, National sold Custodial Receipts (CRs) representing bankruptcy claims in the PREPA Title III case. The sale transferred ownership of approximately $374 million face amount of CRs, which equals about 47% of the principal amount of National’s current bond claims in the PREPA proceeding. The underlying bonds had already been fully satisfied by National’s insurance claim payments.
The company states that this transaction reduces potential volatility and ongoing risk of remediation around National’s remaining PREPA exposure, which it describes as still uncertain. National had previously completed similar transactions in October 2021 and January 2022, involving an aggregate of about $430 million face amount of bonds. Following this latest sale of PREPA bankruptcy claims through CRs, National reports that it does not retain any additional CRs for sale.