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MBIA Inc (MBI.N)

MBI.N on New York Stock Exchange

7.00USD
20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

MBIA Inc announces senior management change
Thursday, 10 Aug 2017 08:00am EDT 

Aug 10 (Reuters) - Mbia Inc ::MBIA Inc announces senior management change.MBIA Inc - Jay Brown to step down as CEO effective September 15; Bill Fallon elected CEO.  Full Article

MBIA Q2 non-GAAP operating loss per share $1.09
Tuesday, 8 Aug 2017 04:15pm EDT 

Aug 8 (Reuters) - Mbia Inc :MBIA Inc reports second quarter 2017 financial results.Q2 GAAP loss per share $9.78.Q2 non-GAAP operating loss per share $1.09.MBIA Inc - ‍book value per share was $15.45 as of June 30, 2017 compared with $23.87 as of December 31, 2016​.MBIA Inc - ‍adjusted book value per share was $26.26 as of June 30, 2017 compared with $31.88 as of December 31, 2016​.MBIA Inc - ‍as of June 30, 2017, MBIA Insurance Corporation's liquidity position totaled $115 million​.MBIA Inc - ‍qtrly net investment income $37 million versus $37​ million.  Full Article

National Public Finance Guarantee Corp files adversary complaint against PREPA
Tuesday, 8 Aug 2017 08:00am EDT 

Aug 8 (Reuters) - National Public Finance Guarantee Corp::National Public Finance Guarantee Corporation files adversary complaint to compel PREPA to deposit pledged special revenues with bond trustee.  Full Article

MBIA Inc announces changes to its board of directors
Monday, 31 Jul 2017 04:15pm EDT 

July 31 (Reuters) - Mbia Inc :MBIA Inc. announces changes to its board of directors.MBIA Inc - ‍resignations of Maryann Bruce, Keith D. Curry and Lois A. Scott from MBIA Inc. board of directors effective July 28, 2017​.MBIA Inc - there is no present intention to replace outgoing directors.MBIA-‍resignations follow reassessment of governance profile after decision to cease, for now, efforts to pursue writing new insurance policies at its unit.  Full Article

MBIA Inc in July 11 letter says ceased efforts to actively pursue writing new insurance policies for now at National Public Finance Guarantee
Tuesday, 25 Jul 2017 06:18pm EDT 

July 25 (Reuters) - MBIA Inc :MBIA Inc - in July 11 letter, co said it ceased for now efforts to actively pursue writing new insurance policies at National Public Finance Guarantee.MBIA Inc - has determined that it is required to establish a full valuation allowance on its deferred tax asset as of June 30, 2017 - SEC filing.MBIA Inc - valuation allowance will result in a $1.1 billion charge to consolidated net income for the second quarter of 2017 - SEC filing‍​.MBIA Inc - ‍valuation allowance will result in a $1.1 billion reduction in GAAP book value at June 30, 2017​‍​ ‍​.  Full Article

MBIA says as of March 31, 2017, had $855 mln of gross par outstanding on bonds relying on Puerto Rico's general obligation bonds
Tuesday, 11 Jul 2017 04:34pm EDT 

July 11 (Reuters) - MBIA Inc ::MBIA Inc says as of March 31, 2017, had $855 million of gross par outstanding on bonds relying on puerto rico's general obligation bonds - sec filing.MBIA inc says as of march 31, 2017, had $684 million gross par ($1.1 billion, including accreted amounts) on the sales tax-backed “cofina” bonds.MBIA inc says as of march 31, 2017, had $706 million gross par on bonds issued by the highway and transportation authority.MBIA inc says as of march 31, 2017, had $255 million of gross par exposure to state of illinois general obligation bonds.MBIA - expect to see loss, loss adjustment reserve increases in range of $250 million to $275 million for q2 due to recent developments in puerto rico.MBIA inc says as of march 31, 2017, had $853 million gross par exposure ($1.5 billion, including accreted amounts) to chicago board of education bonds.MBIA inc - "we also continue to coordinate and communicate with our primary regulator, the nysdfs, on a range of issues including puerto rico".MBIA says as of march 31, 2017, had $901 million ($1.2 billion, including accreted amounts) to city of chicago general obligation bonds.MBIA inc says nysdfs recently completed triennial examinations for national and MBIA insurance corp, which this time covered the years 2012 – 2015.MBIA inc says nysdfs made no adverse findings in the examinations for national and MBIA insurance.MBIA inc says "we won't be actively pursuing new bond insurance business".  Full Article

National Public Finance criticizes Puerto Rico oversight board
Friday, 30 Jun 2017 04:30pm EDT 

June 30 (Reuters) - Mbia Inc :‍National Public Finance Guarantee says believes financial oversight and management board for Puerto Rico violated promesa by authorizing Title III filing by PREPA​.  Full Article

National Public Finance Guarantee, creditors offer PREPA extension of RSA until June 30
Thursday, 29 Jun 2017 01:39pm EDT 

June 29 (Reuters) - National Public Finance Guarantee Corporation::National takes action to extend PREPA restructuring support agreement.Co, other supporting creditors offered PREPA an extension of Restructuring Support Agreement until June 30.Says National to continue pursuing lawsuit to compel Oversight Board to comply with obligations under PROMESA.Believes extension, funding would have provided more time for discussions to avoid Title III bankruptcy filing by PREPA.Offer delivered to Puerto Rico Governor Ricardo Rosselló, PREPA, AAFAF, but all refused to sign extension.  Full Article

MBIA says board approved new share repurchase authorization for co
Tuesday, 27 Jun 2017 05:07pm EDT 

June 27 (Reuters) - Mbia Inc :Mbia says board approved new share repurchase authorization for co, indirect unit, to repurchase up to $250 million of co's outstanding shares on open market.Mbia inc - new program will replace approximately $13 million remaining under board's february 2016 authorization - sec filing.  Full Article

MBIA Q1 gaap loss per share $0.55
Wednesday, 10 May 2017 04:15pm EDT 

May 10 (Reuters) - MBIA Inc ::MBIA Inc Reports first quarter 2017 financial results.Q1 gaap loss per share $0.55.Q1 earnings per share view $0.06 -- Thomson Reuters I/B/E/S.Book value per share was $24.73 as of March 31, 2017 compared with $23.87 as of December 31, 2016.MBIA -reduction in gaap net loss primarily due to fair value gains associated with interest rate swaps , common stock warrants and lower foreign exchange losses.MBIA Inc says total net premiums earned in U.S. public finance insurance segment were $41 million in Q1 of 2017, down 29 percent.Adjusted book value per share increased to $33.69 as of March 31, 2017 from $31.88 as of December 31, 2016.MBIA Inc says U.S. public finance insurance segment recorded gaap net income of $27 million for Q1 of 2017 versus $41 million for Q1 of 2016.MBIA Inc -as of March 31, 2017, liquidity position of mbia insurance corporation (excluding its subsidiaries and branch) totaled $111 million.MBIA Inc says national wrote $252 million gross par of new insurance during q1 of 2017, up from $158 million written during Q1 of 2016.MBIA Inc says national wrote $1.7 billion of gross par for four quarters ending march 31, 2017 versus $0.7 billion for four quarters ending march 31, 2016.Mbia inc -u.s. Public finance insurance segment recorded loss and loss adjustment expenses of $11 million in q1 of 2017 compared to $9 million in Q1 of 2016.  Full Article

BRIEF-MBIA Inc announces senior management change

* MBIA Inc - Jay Brown to step down as CEO effective September 15; Bill Fallon elected CEO Source text for Eikon: Further company coverage: