---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-076968"
form_type: "8-K"
ticker: "MBI"
cik: "0000814585"
company_name: "MBIA INC"
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:58:16.846404+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# MBIA narrows FY 2025 GAAP net loss to $177M from $447M; Adjusted net income turns positive $23M

## Summary
- Full-year GAAP net loss of $177M ($3.58/sh) vs $447M ($9.43/sh); Adjusted net income of $23M ($0.46/sh) vs adjusted loss of $184M.
- Improvement driven by National's PREPA loss benefit of $33M vs $191M loss in 2024, including custodial receipt sale above estimated recovery.
- Q4 2025 GAAP net loss of $51M ($1.01/sh) flat YoY; Adjusted net loss improved to $12M ($0.24/sh) from $22M ($0.48/sh).
- National paid $63M as-of-right dividend to MBIA Inc. in Q4; MBIA Inc. repaid $45M of 7.00% debentures on maturity Dec 15, 2025.
- National statutory capital $0.9B, claims-paying resources $1.4B, insured leverage ratio improved to 24:1 from 28:1.

## SEC filing metadata
- accession: 0001193125-26-076968
- form_type: 8-K
- ticker: MBI
- cik: 0000814585
- company_name: MBIA INC
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/814585/000119312526076968/0001193125-26-076968-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/814585/000119312526076968/mbi-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-076968
- JSON: https://secwatch.observer/filing/0001193125-26-076968.json
- Plain text: https://secwatch.observer/filing/0001193125-26-076968.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.