MBIA Inc. (MBI) Q3 2025 Summary (Form 8-K)

MBIA reported Q3 2025 results, showing a significant narrowing of losses driven by favorable developments concerning PREPA exposure at National Public Finance Guarantee Corporation (National).

• GAAP Net Loss: $8 million (vs. $56M loss in Q3 2024).
• Adjusted Net Income (Non-GAAP): $51 million (vs. $0.174M loss in Q3 2024).

Key Subsidiary Metrics (as of 9/30/25):

• National CPR: $1.5 billion.
• National Leverage Ratio improved to 23:1 (from 28:1 YE 2024).
• Total liquidity stood at $354 million.