This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MBIA Inc. Reports Fourth Quarter And Full Year 2011 Financial Results

Stocks in this article: MBI

The U.S. public finance insurance segment recorded $163 million of adjusted pre-tax income in the fourth quarter of 2011 compared with $103 million of adjusted pre-tax income in the fourth quarter of 2010. The increase in adjusted pre-tax income resulted primarily from greater net gains on sales of securities and lower loss and loss adjustment expenses, partially offset by a realized loss associated with the write-off of $31 million of goodwill.

Total premiums earned in the U.S. public finance insurance segment were $113 million in the fourth quarter of 2011, essentially flat with total premiums earned in the fourth quarter of 2010, as a decrease in scheduled premiums earned was offset by an increase in refunding premiums earned.

Net investment income for the U.S. public finance insurance segment declined 6 percent to $51 million in the fourth quarter of 2011 from $54 million in the comparable period of 2010 primarily due to a lower asset base.

The U.S. public finance insurance segment’s loss and loss adjustment expenses were a benefit of $1 million in the fourth quarter of 2011 compared with an expense of $31 million in the fourth quarter of 2010.

Expenses associated with the amortization of deferred acquisition costs totaled $25 million in the fourth quarter of 2011, up 9 percent from $23 million in the fourth quarter of 2010 and in line with insured portfolio amortization.

Operating expenses were $22 million in the fourth quarter of 2011, up 29 percent from $17 million in the comparable period of 2010. The increase in operating expenses was driven by higher compensation, legal and facilities-related expenses.

As of December 31, 2011, National’s statutory capital was $2.8 billion and its claims-paying resources (as described in the attached Explanation of Non-GAAP Financial Measures) totaled $5.7 billion.

Structured Finance and International Insurance Results

The structured finance and international insurance business is primarily conducted through MBIA Corp. and its subsidiaries.

4 of 12

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs