MBIA reports 2022 GAAP net loss of $195M, improved from $445M loss in 2021; book value per share negative $16.07

MBIA INC

2022-FY EPS reported -$3.92 revenue$154,000,000

GAAP net loss of $195M ($3.92/diluted share) for 2022 vs $445M loss ($8.99/share) in 2021.
Book value per share negative $16.07 as of Dec 31, 2022, down from negative $5.73 a year earlier.
Lower losses and LAE driven by increased salvage recoveries at MBIA Corp. and favorable incurred loss benefit on first-lien RMBS.
National's losses lower due to Puerto Rico exposures, partially offset by increased losses on PREPA.
Net realized investment losses partially offset the improvement.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MBIA INC reported the full year and the quarter ended December 31, 2022 results: net income $195 million, EPS $(3.92) per diluted common share.

Period: the full year and the quarter ended December 31, 2022
Net income: $195 million
EPS: $(3.92) per diluted common share
Result: reported results

Exact text from the filing

MBIA Inc. (NYSE:MBI) (the Company) today reported a consolidated GAAP net loss of $195 million, or $(3.92) per diluted common share, for 2022

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Source: SEC EDGAR

accession 0001193125-23-053937

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