MBIA Inc. reported a net loss of $254 million ($5.34 per share) for Q2 2024, compared to a net loss of $74 million ($1.46 per share) in Q2 2023. The deterioration was primarily driven by $142 million in losses and loss adjustment expenses, mainly related to Puerto Rico Electric Power Authority (PREPA) reserves, and $59 million in investment fair value losses. Total revenues declined to -$37 million from $28 million in Q2 2023.National, MBIA's U.S. public finance insurance subsidiary, paid $16 million in PREPA claims in January 2024 and an additional $122 million in July 2024. As of June 30, 2024, National had $792 million of insured PREPA debt service outstanding. The company's consolidated investment portfolio totaled $1.6 billion, with 95% rated investment grade.MBIA Inc.'s liquidity position stood at $315 million as of June 30, 2024, down from $411 million at year-end 2023. National maintained statutory capital of $1.0 billion and total claims-paying resources of $1.63 billion. During the quarter, the company repurchased $63 million of medium-term notes and $16 million of debentures at a discount.

MBIA Inc. reported a net loss of $254 million ($5.34 per share) for Q2 2024, compared to a net loss of $74 million ($1.46 per share) in Q2 2023. The deterioration was primarily driven by $142 million in losses and loss adjustment expenses, mainly related to Puerto Rico Electric Power Authority (PREPA) reserves, and $59 million in investment fair value losses. Total revenues declined to -$37 million from $28 million in Q2 2023.National, MBIA's U.S. public finance insurance subsidiary, paid $16 million in PREPA claims in January 2024 and an additional $122 million in July 2024. As of June 30, 2024, National had $792 million of insured PREPA debt service outstanding. The company's consolidated investment portfolio totaled $1.6 billion, with 95% rated investment grade.MBIA Inc.'s liquidity position stood at $315 million as of June 30, 2024, down from $411 million at year-end 2023. National maintained statutory capital of $1.0 billion and total claims-paying resources of $1.63 billion. During the quarter, the company repurchased $63 million of medium-term notes and $16 million of debentures at a discount.