MBIA INC

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

MBI$4.68+1.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Financial Statements

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

Report of Independent Registered Public Accounting Firm (PCAOB ID 238)	52
Consolidated Balance Sheets as of December 31, 2025 and 2024	54
Consolidated Statements of Operations for the years ended December 31, 2025, 2024 and 2023	55
Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2025, 2024 and 2023	56
Consolidated Statements of Changes in Shareholders’ Equity for the years ended December 31, 2025, 2024 and 2023	57
Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023	58
Notes to Consolidated Financial Statements	59
Note 1: Business Developments and Risks and Uncertainties	59
Note 2: Significant Accounting Policies	64
Note 3: Recent Accounting Pronouncements	70
Note 4: Variable Interest Entities	70
Note 5: Insurance Premiums	73
Note 6: Loss and Loss Adjustment Expense Reserves	75
Note 7: Fair Value of Financial Instruments	81
Note 8: Investments	92
Note 9: Debt	97
Note 10: Income Taxes	99
Note 11: Business Segments	102
Note 12: Insurance in Force	106
Note 13: Insurance Regulations and Dividends	109
Note 14: Benefit Plans	110
Note 15: Earnings Per Share	113
Note 16: Common and Preferred Stock	114
Note 17: Accumulated Other Comprehensive Income	115
Note 18: Commitments and Contingencies	116

Report of Independent Registere

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.