secwatch.observer — SEC 8-K summary
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Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0001193125-23-053937
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000119312523053937/0001193125-23-053937-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000119312523053937/d475793d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-053937

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