secwatch.observer — SEC 8-K summary
======================================

Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2022-05-09T23:59:59+00:00
Accession:  0001193125-22-145026
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MBIA reports Q1 GAAP net loss of $73M; book value per share negative $10.29
---------------------------------------------------------------------------

- Consolidated GAAP net loss $73M ($1.48 per diluted share) vs. loss of $106M ($2.16) in Q1 2021.
- Book value per share negative $10.29 as of March 31, 2022, down from negative $5.73 at Dec 31, 2021.
- Loss improvement driven by lower losses on Puerto Rico credits at National and lower salvage reductions on Zohar CDO claims at MBIA Corp.
- Net gains on financial instruments at fair value and foreign exchange decreased, partially offsetting loss improvement.
- Unrealized losses on AFS investments due to higher interest rates contributed to book value decline.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000119312522145026/0001193125-22-145026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000119312522145026/d337825d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-145026

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