MBIA Inc. reported a net loss from continuing operations of $51 million for the third quarter of 2024, compared to a net loss of $185 million for the same period in 2023. The net loss from discontinued operations attributable to MBIA Inc. was $5 million for the quarter, with a total net loss attributable to MBIA Inc. of $56 million. Basic and diluted earnings per share for continuing operations were $(1.08), and net income (loss) per share attributable to MBIA Inc. was $(1.18). The company's total revenues for the quarter were $29 million, a significant increase from $8 million in the third quarter of 2023. Total expenses decreased to $80 million from $193 million in the same period last year. MBIA Inc.'s business developments included a restructuring support agreement with the...Show More

MBIA Inc. reported a net loss from continuing operations of $51 million for the third quarter of 2024, compared to a net loss of $185 million for the same period in 2023. The net loss from discontinued operations attributable to MBIA Inc. was $5 million for the quarter, with a total net loss attributable to MBIA Inc. of $56 million. Basic and diluted earnings per share for continuing operations were $(1.08), and net income (loss) per share attributable to MBIA Inc. was $(1.18). The company's total revenues for the quarter were $29 million, a significant increase from $8 million in the third quarter of 2023. Total expenses decreased to $80 million from $193 million in the same period last year. MBIA Inc.'s business developments included a restructuring support agreement with the Financial Oversight and Management Board for Puerto Rico regarding the Puerto Rico Electric Power Authority (PREPA), with ongoing legal proceedings and mediation. The company's future plans involve managing its U.S. public finance insurance portfolio, supporting its operating subsidiaries, and maximizing recoveries for its surplus note holders. MBIA Inc. also reported a decrease in its consolidated claims-paying resources from $1.681 billion at the end of 2023 to $1.586 billion as of September 30, 2024.