MBIA Inc. Reports Third Quarter 2016 Financial Results
By a
Book value per share was
The Company also reported Combined Operating Income (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) of
Adjusted Book Value (ABV) per share (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) was
Operating Income and ABV per share provide investors with two perspectives of the Company's financial results that management uses in measuring financial performance. Reconciliations of ABV per share to book value per share, and Operating Income to net income, calculated in accordance with GAAP, are attached. Statements from Company Representative
The Company's Combined Operating Income for the nine months ended
National also recorded
Net premiums earned in the
National insured
Net investment income for the
Net gains on financial instruments at fair value and foreign exchange was
For the third quarter of 2016, the amortization of deferred acquisition costs totaled
National had statutory capital of
The corporate segment recorded an Operating Loss of
As of
The Company's consolidated net operating loss carryforward for income tax purposes as of
During the third quarter of 2016, the Company and its subsidiaries did not repurchase any of its common shares. As of
As of
During the third quarter of 2016,
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