E
MBIA Ins Corp
Rating Date
April 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
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Premiums
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Major Rating Factors: Weak profitability index (0.7 on a scale of 0 to 10) with operating losses during 2020, 2021, 2023 and 2024. Weak overall results on stability tests (0.0) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 320.5% of capital. Fair reserve development (4.0) as the level of reserves has at times been insufficient to cover claims. The one year reserve development was deficient in three of the last five years by between 18.4% and 127.7%.
Other Rating Factors: Strong long-term capitalization index (7.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021. Excellent liquidity (7.7) with ample operational cash flow and liquid investments.
Stability Factors: D - Limited diversification of general business, policy, and/or investment risk. F - Negative cash flow. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Fin guar/surety (100.0%)
Licensed in: All states and MP, PR, VI
Principal Investments: Investment grade bonds (50.6%), non investment grade bonds (28.9%), common stock (7.8%), cash (3.6%), other (9.1%)
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2-Year Reserve Development
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Investments in Affiliates
Corporate Info
Group Affiliation
MBIA Inc
Investment Rating
MBI
Company Address
One Manhattanville Road
Purchase, NY 10577
Phone Number
(914) 273-4545
NAIC Number
12041
Largest Affiliates