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MBIA's CEO Discusses Q1 2012 Results - Earnings Call Transcript

MBIA (MBI)

Q1 2012 Earnings Call

May 11, 2012 8:00 am ET

Executives

Greg Diamond - Head of Equity Investor Relations

Joseph W. Brown - Chief Executive Officer, Director and Member of Finance and Risk Committee

C. Edward Chaplin - Co-President, Chief Administrative Officer, Chief Financial Officer, Vice-Chairman of MBIA Insurance Corporation and Chief Financial Officer of MBIA Insurance Corporation

Analysts

Arun N. Kumar - JP Morgan Chase & Co, Research Division

Sajan Shah

Presentation

Operator

Good morning, and welcome to the MBIA Inc. First Quarter 2012 Financial Results Conference Call. [Operator Instructions] I would now like to turn the call over to Greg Diamond, Managing Director of Investor Relations at MBIA. Please go ahead.

Greg Diamond

Thank you, Jackie. Welcome to MBIA's conference call for our first quarter 2012 financial results. We're going to follow a similar format as last quarter's call. Jay Brown and Chuck Chaplin will provide some brief comments and then we'll open the call for a question-and-answer session. As usual, members of the press and representatives from institutions litigating against us, which is now only Bank of America and Societe Generale, will not be able to ask questions on this call.

After the market closed yesterday, we posted several other items on our website, including our first quarter 2012 10-Q and operating supplement. In addition, the information to access the recorded replay of today's call is available on the website via the financial results press release that was issued yesterday.

The purpose of our call today is to discuss our most recent 10-Q to facilitate a greater understanding for investors. Our company's definitive disclosures are incorporated in our SEC filings. The 10-Q also contains information that may not be addressed on today's call. Please note that anything said on today's call is qualified by the information provided in the company's 10-Q, 10-K and other SEC filings. Please read our first quarter 10-Q as it contains our most current disclosures about the company and its financial and operating results. Also, please refer to our financial results release available on the website for definitions and a reconciliation of the non-GAAP terms that are included in our remarks today.

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