MBIA reports FY2021 GAAP net loss of $445M; book value per share turns negative $5.73

MBIA INC

2021-FY EPS reported -$8.99 revenue$189,000,000

FY2021 GAAP net loss of $445M ($8.99 diluted loss per share) vs FY2020 loss of $578M ($9.78 loss per share).
Book value per share negative $5.73 at Dec 31, 2021, compared to positive $2.55 at Dec 31, 2020.
Losses and LAE decreased largely due to lower Zohar CDO losses at MBIA Corp, partially offset by higher Puerto Rico exposure at National.
Adjusted Net Loss (non-GAAP) was mentioned; full details in the financial results report.

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