MBIA Q3 2021 net loss $123M ($2.49/share) vs $58M loss a year ago

MBIA INC

2021-Q3 EPS reported -$5.87 revenue$162,000,000

Net loss of $123M ($2.49 per diluted share) vs $58M loss ($1.11) in Q3 2020.
Losses driven by higher loss/LAE at National and MBIA Insurance Corp; gains from bond purchases and policy termination partially offset.
National reduced Puerto Rico exposures: sold ~$199M PREPA claims, modified loss reserves; GO exposures to be eliminated upon Plan of Adjustment.
Book value per share negative $3.12 at Sept 30, 2021 vs positive $2.55 at Dec 31, 2020.

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