MBIA (MBI) Reports Q4 EPS of $1.20
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MBIA Inc. Reports Full Year and Fourth Quarter 2018 Financial Results
February 28, 2019 4:15 PM ESTPURCHASE, N.Y.--(BUSINESS WIRE)-- MBIA Inc. (NYSE: MBI) (the Company) today reported a consolidated GAAP net loss of $296 million, or $(3.33) per diluted common share, for 2018 compared to a consolidated GAAP net loss of $1.6 billion, or $(13.50) per diluted common share, for 2017. The $1.3 billion year-over-year improvement was primarily due to the $944 million reduction in the tax provision (that was largely driven by the 2017 establishment of a full valuation allowance on the Companys net deferred tax asset) and a $620 million reduction in loss and loss adjustment expenses. The reduction in losses and loss... More
