secwatch.observer — SEC 8-K summary
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Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0000950170-24-022148
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MBIA FY2023 net loss widens to $491M; pays $8/share special dividend, book value negative $32.56
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- GAAP net loss $491M ($10.18/diluted share) vs $195M ($3.92) in 2022; adjusted net loss $169M ($3.49) vs $145M ($2.90).
- Book value per share negative $32.56 at Dec 31, 2023, down from negative $16.07; $8/share dividend paid Dec 22.
- National statutory capital $1.1B, claims-paying $1.7B; leverage ratio 25:1 (up from 16:1 at year-end 2022).
- MBIA Inc. liquidity $411M; $71M share repurchase remaining; CEO: focus on resolving PREPA exposure, then selling company.
- Q4 net loss $138M ($2.94/share) vs $52M ($1.05) year ago; Q4 adjusted net loss $8M vs income $15M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000095017024022148/0000950170-24-022148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000095017024022148/mbi-20240228.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-022148

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer