MBIA (MBI) Posts Q4 Adj-Loss of $1.52
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MBIA Inc. Reports Full Year and Fourth Quarter 2017 Financial Results
March 1, 2018 4:16 PM ESTPURCHASE, N.Y.--(BUSINESS WIRE)-- MBIA Inc. (NYSE: MBI) (the Company) today reported a consolidated GAAP net loss of $1.6 billion, or $(13.50) per diluted common share, for 2017 compared to a consolidated GAAP net loss of $338 million, or $(2.54) per diluted common share, for 2016. The adverse year-over-year comparison was primarily due to the full valuation allowance on the Companys net deferred tax asset that was established in the second quarter of 2017 that drove the $945 million unfavorable change in its tax provision as well as $463 million of additional loss and loss adjustment expenses. The increased... More
