MBIA Inc. reported its financial results for the second quarter of 2026, revealing total revenues of $27 million, a 17% increase from $23 million in the same period last year. The company’s net income attributable to MBIA Inc. was a loss of $46 million, or $(0.91) per share, compared to a loss of $56 million, or $(1.12) per share, in the prior year. For the first half of 2026, total revenues reached $51 million, up from $37 million in the first half of 2025, while the net loss attributable to MBIA Inc. was $86 million, compared to $118 million in the same period last year.
The company experienced a decrease in total expenses, which amounted to $70 million for the second quarter of 2026, down from $79 million in the same quarter of 2025. This reduction was primarily driven by lower losses and loss adjustment expenses (LAE), which were $9 million in the latest quarter compared to $8 million a year earlier. The decrease in expenses was also influenced by a reversal of previously recognized legal expenses related to consolidated variable interest entities (VIEs).
Strategically, MBIA continues to manage its U.S. public finance insurance portfolio through National Public Finance Guarantee Corporation, which reported a gross par outstanding of $20.8 billion as of June 30, 2026. The company is actively monitoring its insured portfolio, particularly in light of fiscal stress among certain state and local governments. Notably, the Puerto Rico Electric Power Authority (PREPA) defaulted on scheduled debt service for National insured bonds, leading to claims payments totaling $11 million in January 2026 and $46 million in July 2026.
Operationally, MBIA's total assets decreased to $1.979 billion as of June 30, 2026, down from $2.013 billion at the end of 2025. The company’s cash and cash equivalents increased to $117 million from $69 million, reflecting improved liquidity. The total liabilities rose to $4.297 billion, compared to $4.243 billion at the end of the previous year. Looking ahead, MBIA anticipates that economic conditions, particularly in the public finance sector, will continue to influence its financial performance, with a focus on maximizing recoveries and managing risks associated with its insured portfolio.
About MBIA INC
MBIA Inc. provides financial guarantee insurance primarily for U.S. public finance and international structured finance markets. Its subsidiaries, National and MBIA Corp., insure municipal bonds, infrastructure projects, and structured finance obligations, focusing on risk management, portfolio surveillance, and loss mitigation. The company emphasizes liquidity management, risk oversight, and portfolio diversification, serving investors and municipalities with a competitive edge in credit risk assessment and remediation.
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