MBIA Inc
mbia.comWhat Do They Do?
Insures U.S. public finance bonds and international and structured-finance obligations, guaranteeing payments to investors holding insured debt.
10-K for FY2025, filed Feb 26, 2026MBIA’s primary business has been to provide financial guarantee insurance to the United States’ public finance markets through our…View ↗
Because we generally guarantee to the holder of an insured obligation the timely payment of amounts due in accordance with its insurance…View ↗
MBIA Corp.’s insured portfolio consists of policies that insure various types of international public finance and global structured finance…View ↗
How Do They Make Money?
MBIA collects insurance premiums upfront or in installments; MBIA Services charges for support services, with fees earned when the related services are completed.
10-K for FY2025, filed Feb 26, 2026Our U.S. public finance insurance portfolio is managed through National, and our international and structured finance insurance portfolios…View ↗
MBIA Services Corporation (“MBIA Services”), also owned by MBIA Inc., is a service company that provides support services such as…View ↗
The Company collects insurance related fees for services performed in connection with certain transactions. Fees are earned when the…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by reportable segment ↗
$80M
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10-K for FY2025, filed Feb 26, 2026
$80M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
US Public Finance Insurance
|
104%
FY2022: 23%
|
US Public Finance Insurance, FY2025
$83M Sources
|
|
|
Corporate Operations
Sold outright
10-K for FY2025, filed Feb 26, 2026 |
86%
FY2022: 108%
|
Corporate Operations, FY2025
$69M Sources
|
Sold outright |
|
International And Structured Finance Insurance
|
−8.8%
FY2022: 30%
|
International And Structured Finance Insurance, FY2025
−$7M Sources
|
Who Are Their Customers?
National insures bonds issued by U.S. public bodies and private entities financing public-purpose projects; MBIA Corp. insures international public-finance and structured-finance obligations. Coverage is offered in new-issue and secondary markets.
10-K for FY2025, filed Feb 26, 2026National’s insured portfolio consists of municipal bonds, including tax-exempt and taxable indebtedness of U.S. political subdivisions and…View ↗
MBIA Corp.’s insured portfolio consists of policies that insure various types of international public finance and global structured finance…View ↗
Our U.S. public finance insurance portfolio is managed through National, and our international and structured finance insurance portfolios…View ↗
Do Revenues Turn Into Profits?
No. It lost $177M in FY2025.
10-K for FY2025, filed Feb 26, 2026
−$177MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$43MView ↗
- ▼ −23% (Loss)
- vs −$56M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
Shrinking. Revenue fell 58% in 4 years, from $189M in FY2021 to $80M in FY2025, about 19% a year.
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