MBIA (MBI) Reports Q3 Loss of $0.91
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MBIA Inc. Reports Third Quarter 2017 Financial Results
November 7, 2017 4:15 PM ESTPURCHASE, N.Y.--(BUSINESS WIRE)-- MBIA Inc. (NYSE: MBI) (the Company) today reported a consolidated GAAP net loss of $267 million, or $(2.17) per diluted common share, for the third quarter of 2017 compared to consolidated GAAP net income of $31 million, or $0.23 per diluted common share, for the third quarter of 2016. The adverse year-over-year comparison was primarily due to increased losses and loss adjustment expenses at National Public Finance Guarantee Corporation (National) that were primarily associated with Puerto Rico insured credits, and Nationals investment portfolio credit impairments that were primarily associated with uninsured Puerto Rico... More
