v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Investments:    
Assets held for sale $ 0 $ 8
Total assets 1,830 2,013
Liabilities:    
Liabilities held for sale 0 6
Total liabilities 4,212 4,243
Commitments and contingencies (Refer to Note 12: Commitments and Contingencies)
Equity:    
Preferred stock, par value $1 per share; authorized shares—10,000,000; issued and outstanding—none 0 0
Common stock, par value $1 per share; authorized shares--400,000,000; issued shares--283,186,115 283 283
Additional paid-in capital 2,416 2,450
Retained earnings (deficit) (1,878) (1,768)
Accumulated other comprehensive income (loss), net of tax of $7 and $7 (142) (95)
Treasury stock, at cost--232,168,456 and 232,675,865 shares (3,070) (3,107)
Total shareholders' equity of MBIA Inc. (2,391) (2,237)
Preferred stock of subsidiary and noncontrolling interests 9 7
Total equity (2,382) (2,230)
Total liabilities and equity 1,830 2,013
Non Variable Interest Entity [Member]    
Investments:    
Fixed-maturity securities held as available-for-sale, at fair value (amortized cost $1,074 and $1,163) 907 1,042
Investments carried at fair value 222 223
Short-term investments, at fair value (amortized cost $368 and $409) 368 409
Other investments at amortized cost 1 1
Total investments 1,498 1,675
Cash and cash equivalents 60 69
Premiums receivable (net of allowance for credit losses of $- and $- ) 114 121
Deferred acquisition costs 21 24
Insurance loss recoverable 74 43
Assets held for sale 0 8
Other assets 30 37
Liabilities:    
Unearned premium revenue 151 172
Loss and loss adjustment expense reserves 399 454
Long-term debt 2,951 2,843
Medium-term notes (includes financial instruments carried at fair value of $42 and $46) 478 472
Investment agreements 118 174
Liabilities held for sale 0 6
Other liabilities 81 73
Variable Interest Entity, Primary Beneficiary [Member]    
Investments:    
Cash 2 2
Loans receivable at fair value 31 34
Liabilities:    
Other liabilities 11 17
Variable interest entity debt (includes financial instruments carried at fair value of $22 and $25) $ 23 $ 32