MBIA Inc. (MBI) Q4 2025 Earnings Call Transcript

Operator

Welcome to the MBIA Inc. Fourth Quarter and Full Year 2025 Financial Results Conference Call. I would now like to turn the call over to Greg Diamond, Managing Director of Investor and Media Relations at MBIA. Sir, please go ahead.

Greg Diamond
MD and Head of Investor & Media Relations

Thank you, Chelsea, and welcome to our conference call for the full year 2025 MBIA Financial results. After the market closed yesterday, we issued and posted several items on our websites, including our financial results, 10-K, quarterly operating supplement and statutory financial statements for both MBIA Insurance Corporation and National Public Finance Guarantee Corporation. We also posted updates to the listings of our insurance company’s insurance portfolios. Regarding today’s call, please note that anything said on the call is qualified by the information provided by the company’s 10-K and other SEC filings as our company’s definitive disclosures are incorporated in those documents. We urge investors to read our 10-K as it contains our most current disclosures about the company and its financial and operating results.

The 10-K also contains information that may not be addressed on today’s call. The definitions and reconciliations of the non-GAAP terms included in our remarks today are also included in our 10-K as well as our financial results report and our quarterly operating supplement. The recorded replay of today’s call will become available approximately 2 hours after the end of the call. Now for our safe