MBIA Reports Q3 2026 GAAP Net Loss Amid Decreased LAE Benefits and Investment Losses
MBIA reported a GAAP net loss of $24 million for the third quarter of 2026, primarily driven by a significantly smaller Loss Adjustment Expense (LAE) benefit compared to the previous year. The company also recorded an adjusted net loss of $3 million, a sharp reversal from the $51 million adjusted net income reported in the prior-year period. The financial results were further pressured by increased unrealized investment losses resulting from higher interest rates, which reduced the fair value of fixed-income investments. This contributed to a negative book value per share of $46.87. Despite these challenges, National's leverage ratio improved to 20-to-1, and statutory capital for both MBIA Insurance Corp and National saw year-over-year increases.
Tickers: $MBI
Topics: Adjusted Net Loss Book Value Per Share GAAP Net Loss Insurance Portfolio Statutory Capital
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