Q1 2026 MBIA Inc Earnings Call Transcript

May 8, 2026 / 12:30 PM GMT

Release Date Price: €4.8 (-6.80%)

Transcript 10-Q8-K

Key Points

Positve

MBIA Inc (MBI) reported a lower consolidated GAAP net loss of $40 million for Q1 2026 compared to $62 million in Q1 2025.
National's statutory net income increased to $11 million in Q1 2026 from $4 million in Q1 2025.
The company's leverage ratio improved, with National's gross par to statutory capital ratio decreasing from 24 to 1 at year-end 2025 to 23 to 1 at the end of Q1 2026.
MBIA Inc (MBI) experienced favorable variances in foreign exchange gains and losses, particularly due to the strengthening of the U.S. Dollar against the euro.
National's insured portfolio's gross par amount outstanding declined by approximately $900 million from year-end 2025 to March 31, 2026.

Negative

MBIA Inc (MBI) reported a consolidated GAAP net loss of $40 million for Q1 2026, indicating ongoing financial challenges.
The company's book value per share decreased by $0.55 to a negative $44.82 per share as of March 31, 2026.
MBIA Insurance Corp's statutory net income decreased to $1 million in Q1 2026 from $2 million in Q1 2025.
National's PREPA exposure remains unresolved, with no substantive progress made since the last conference call.
MBIA Insurance Corp's claims-paying resources decreased slightly to $316 million as of March 31, 2026, down from year-end 2025.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MBI.N - MBIA Inc
Q1 2026 MBIA Inc Earnings Call
May 08, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Please stand by. Your meeting is about to begin.

Welcome to the NBIA, Inc. First Quarter 2026 Financial Results Conference Call.

I would now like to turn the call over to Greg Diamond, Managing Director of Investor and Media Relations at NBIA. Please go ahead, sir.

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Unidentified_2 [2]
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Thank you, Nikki. Yes, welcome to NBIA's conference call for our latest financial results. After the market closed yesterday, we issued and posted several items on our websites, including our financial results, the 10-Q, quarterly operating supplement, and the statutory

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