secwatch.observer — SEC 8-K summary
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Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0001193125-26-076968
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000119312526076968/0001193125-26-076968-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000119312526076968/mbi-20260226.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-076968

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