Company Quick10K Filing
MBIA
Price9.29 EPS-1
Shares83 P/E-7
MCap769 P/FCF-2
Net Debt-81 EBIT8
TEV688 TEV/EBIT86
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-02-27
10-Q 2019-09-30 Filed 2019-11-05
10-Q 2019-06-30 Filed 2019-08-06
10-Q 2019-03-31 Filed 2019-05-08
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-06
10-Q 2018-06-30 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-09
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-07
10-Q 2017-06-30 Filed 2017-08-08
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-01
10-Q 2016-09-30 Filed 2016-11-08
10-Q 2016-06-30 Filed 2016-08-08
10-Q 2016-03-31 Filed 2016-05-09
10-K 2015-12-31 Filed 2016-02-29
10-Q 2015-09-30 Filed 2015-11-04
10-Q 2015-06-30 Filed 2015-08-04
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-02
10-Q 2014-09-30 Filed 2014-11-05
10-Q 2014-06-30 Filed 2014-08-06
10-Q 2014-03-31 Filed 2014-05-12
10-K 2013-12-31 Filed 2014-03-03
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-07
10-Q 2013-03-31 Filed 2013-05-09
10-K 2012-12-31 Filed 2013-02-27
10-Q 2012-09-30 Filed 2012-11-07
10-Q 2012-06-30 Filed 2012-08-08
10-Q 2012-03-31 Filed 2012-05-10
10-K 2011-12-31 Filed 2012-02-29
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-09
10-Q 2011-03-31 Filed 2011-05-10
10-K 2010-12-31 Filed 2011-03-01
10-Q 2010-09-30 Filed 2010-11-09
10-Q 2010-06-30 Filed 2010-08-09
10-Q 2010-03-31 Filed 2010-05-10
10-K 2009-12-31 Filed 2010-03-01
8-K 2020-05-11
8-K 2020-05-05
8-K 2020-02-27
8-K 2019-11-05
8-K 2019-09-09
8-K 2019-08-06
8-K 2019-07-10
8-K 2019-06-10
8-K 2019-05-08
8-K 2019-05-01
8-K 2019-02-28
8-K 2018-11-13
8-K 2018-11-08
8-K 2018-11-06
8-K 2018-08-08
8-K 2018-05-09
8-K 2018-05-02
8-K 2018-04-13
8-K 2018-03-28
8-K 2018-03-01

MBI 10Q Quarterly Report

Part I Financial Information
Item 1. Financial Statements
Note 1: Business Developments and Risks and Uncertainties
Note 2: Significant Accounting Policies
Note 3: Recent Accounting Pronouncements
Note 4: Variable Interest Entities
Note 5: Loss and Loss Adjustment Expense Reserves
Note 6: Fair Value of Financial Instruments
Note 7: Investments
Note 8: Derivative Instruments
Note 9: Income Taxes
Note 10: Business Segments
Note 11: Earnings per Share
Note 12: Accumulated Other Comprehensive Income
Note 13: Commitments and Contingencies
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 d893688dex311.htm
EX-31.2 d893688dex312.htm
EX-32.1 d893688dex321.htm
EX-32.2 d893688dex322.htm

MBIA Earnings 2020-03-31

Balance SheetIncome StatementCash Flow
25201510502012201420172020
Assets, Equity
0.50.1-0.2-0.6-0.9-1.32012201420172020
Rev, G Profit, Net Income
1.91.10.3-0.5-1.3-2.12012201420172020
Ops, Inv, Fin

10-Q
falseQ10000814585--12-31Large Accelerated FilerCTRepresents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements and other fees.Includes 0.9 million of participating securities that met the service condition and were eligible to receive nonforfeitable dividends or dividend equivalents for each of the three months ended March 31, 2020 and 2019, respectively.Represents intercompany premium income and expense and intercompany interest income and expense pertaining to intercompany receivables and payables.Represents unrealized gains or losses on OTTI securities recognized in AOCI, which includes the non-credit component of impairments, as well as all subsequent changes in fair value of such impaired securities reported in AOCI.Includes investments insured by MBIA Corp. and National.Insurance loss reserve estimates are based on the proportion of par value owned to the total amount of par value insured.Consists primarily of intercompany reinsurance balances and repurchase agreements.Weighted average represents the total MBIA guarantees as a percentage of total instrument fair value.Midpoint of cash flows are used for the weighted average.Investment that was measured at fair value by applying the net asset value per share practical expedient, and was required not to be classified in the fair value hierarchy.Includes loan repurchase commitments of $506 million and $486 million as of March 31, 2020 and December 31, 2019, respectively.Amounts are net of expected recoveries.Includes amounts related to paid claims and LAE that are expected to be recovered in the future.Primarily changes in amount and timing of collections.An “issue” represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments on the insured debt.Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.The gross claim liability with respect to Puerto Rico exposures are net of expected recoveries for policies in a net payable position.Gross potential recoveries with respect to certain Puerto Rico exposures are net of the claim liability for policies in a net recoverable position.Represents discount related to Gross Claim Liability and Gross Potential Recoveries.Included in “Other assets” on the Company’s consolidated balance sheets.Reported within “Net gains (losses) of financial instruments at fair value and foreign exchange” on MBIA’s consolidated statements of operations.Reported within “Net gains (losses) of financial instruments at fair value and foreign exchange-VIE” on MBIA’s consolidated statements of operations.Reported within “Other net realized gains (losses)” on MBIA’s consolidated statements of operations.In accordance with the accounting guidance for derivative instruments and hedging activities, the balance sheet location of the Company’s embedded derivative instruments is determined by the location of the related host contract.Amounts are net of expected recoveries of unpaid claims. 0000814585 2020-01-01 2020-03-31 0000814585 2020-03-31 0000814585 2019-12-31 0000814585 2019-01-01 2019-03-31 0000814585 2019-01-01 2019-12-31 0000814585 2020-05-04 0000814585 2019-03-31 0000814585 2018-12-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2019-12-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:ConsumerAssetBackedMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:CorporateAssetBackedMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember 2019-12-31 0000814585 mbi:GlobalPublicFinanceMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:InvestmentsMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:PremiumsReceivableMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:InsuranceLossRecoverableMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:PremiumsReceivableMember mbi:ConsumerAssetBackedMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:InsuranceLossRecoverableMember mbi:ConsumerAssetBackedMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:PremiumsReceivableMember mbi:CorporateAssetBackedMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:InsuranceLossRecoverableMember mbi:CorporateAssetBackedMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:InvestmentsMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:PremiumsReceivableMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:InsuranceLossRecoverableMember 2019-12-31 0000814585 mbi:GlobalPublicFinanceMember us-gaap:InvestmentsMember 2019-12-31 0000814585 mbi:GlobalPublicFinanceMember us-gaap:PremiumsReceivableMember 2019-12-31 0000814585 mbi:GlobalPublicFinanceMember mbi:InsuranceLossRecoverableMember 2019-12-31 0000814585 us-gaap:InvestmentsMember 2019-12-31 0000814585 us-gaap:PremiumsReceivableMember 2019-12-31 0000814585 mbi:InsuranceLossRecoverableMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:InvestmentsMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:PremiumsReceivableMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:InsuranceLossRecoverableMember 2019-12-31 0000814585 us-gaap:InvestmentsMember mbi:GlobalStructuredFinanceMember mbi:ConsumerAssetBackedMember 2019-12-31 0000814585 us-gaap:InvestmentsMember mbi:GlobalStructuredFinanceMember mbi:CorporateAssetBackedMember 2019-12-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember mbi:ConsumerAssetBackedMember 2019-12-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember mbi:ConsumerAssetBackedMember 2019-12-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember mbi:CorporateAssetBackedMember 2019-12-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember mbi:CorporateAssetBackedMember 2019-12-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:LossAndLossAdjustmentExpenseReservesMember 2019-12-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalPublicFinanceMember 2019-12-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalPublicFinanceMember 2019-12-31 0000814585 mbi:UnearnedPremiumRevenueMember 2019-12-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:UnearnedPremiumRevenueMember 2019-12-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:LossAndLossAdjustmentExpenseReservesMember 2019-12-31 0000814585 mbi:FairValueBelowBookValueGreaterThanFivePercentMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:USTreasuryAndGovernmentMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CollateralizedDebtObligationsMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:CorporateDebtSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember srt:MinimumMember 2019-12-31 0000814585 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember srt:MaximumMember 2019-12-31 0000814585 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember srt:WeightedAverageMember 2019-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember srt:MinimumMember 2019-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember srt:MaximumMember 2019-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember srt:WeightedAverageMember 2019-12-31 0000814585 mbi:DirectPriceModelMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:NonperformanceRiskMember mbi:CreditDerivativesMember srt:MinimumMember 2019-12-31 0000814585 mbi:DirectPriceModelMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:NonperformanceRiskMember mbi:CreditDerivativesMember srt:MaximumMember 2019-12-31 0000814585 mbi:DirectPriceModelMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:NonperformanceRiskMember mbi:CreditDerivativesMember srt:WeightedAverageMember 2019-12-31 0000814585 mbi:OtherDerivativesMember mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember srt:MinimumMember 2019-12-31 0000814585 mbi:OtherDerivativesMember mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember srt:MaximumMember 2019-12-31 0000814585 mbi:OtherDerivativesMember mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember srt:WeightedAverageMember 2019-12-31 0000814585 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember 2019-12-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:RecoveryRatesAndBreachRatesMember mbi:DiscountedCashFlowMember 2019-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember 2019-12-31 0000814585 mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember 2019-12-31 0000814585 us-gaap:CommercialMortgageBackedSecuritiesMember mbi:CreditDerivativesMember mbi:DirectPriceModelMember mbi:NonperformanceRiskMember 2019-12-31 0000814585 us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:AssetsOfConsolidatedViesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:AssetBackedSecuritiesMember mbi:OtherAssetBackedMember mbi:AssetsOfConsolidatedViesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:AssetBackedSecuritiesMember mbi:OtherAssetBackedMember mbi:AssetsOfConsolidatedViesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:CashAndCashEquivalentsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:CashAndCashEquivalentsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:AssetsOfConsolidatedViesMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:AssetsOfConsolidatedViesMember mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember 2019-12-31 0000814585 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel1Member mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel2Member mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:ForeignGovernmentDebtMember us-gaap:FairValueInputsLevel2Member mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 mbi:CorporateObligationsMember us-gaap:FairValueInputsLevel2Member mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedDebtObligationsMember us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember mbi:OtherAssetBackedMember us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:MoneyMarketSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:PerpetualDebtAndEquitySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:PerpetualDebtAndEquitySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:InterestRateDerivativesMember us-gaap:FairValueInputsLevel2Member mbi:DerivativeAssetsMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:USTreasuryAndGovernmentMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:USStatesAndPoliticalSubdivisionsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:ForeignGovernmentDebtMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 mbi:CorporateObligationsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedDebtObligationsMember us-gaap:FixedMaturitiesMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember mbi:OtherAssetBackedMember us-gaap:FixedMaturitiesMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:MoneyMarketSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:PerpetualDebtAndEquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2019-12-31 0000814585 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:InterestRateDerivativesMember mbi:DerivativeAssetsMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:USTreasuryAndGovernmentMember mbi:OtherFixedMaturityInvestmentsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember mbi:OtherFixedMaturityInvestmentsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember mbi:OtherFixedMaturityInvestmentsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:OtherFixedMaturityInvestmentsMember mbi:CorporateObligationsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:OtherFixedMaturityInvestmentsMember mbi:CorporateObligationsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:MortgageBackedSecuritiesMember mbi:ResidentialMortgageBackedNonAgencyMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:MortgageBackedSecuritiesMember mbi:ResidentialMortgageBackedNonAgencyMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:AssetBackedSecuritiesMember us-gaap:CollateralizedDebtObligationsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:AssetBackedSecuritiesMember us-gaap:CollateralizedDebtObligationsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member mbi:MoneyMarketSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:MoneyMarketSecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:PerpetualDebtAndEquitySecuritiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:FixedIncomeFundsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:FixedIncomeFundsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:FixedIncomeFundsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:CashAndCashEquivalentsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:CashAndCashEquivalentsMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:DerivativeAssetsMember mbi:InterestRateDerivativesMember mbi:NonInsuredDerivativesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:DerivativeAssetsMember mbi:InterestRateDerivativesMember mbi:NonInsuredDerivativesMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember mbi:CorporateObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:CorporateObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:AssetsOfConsolidatedViesMember us-gaap:CashAndCashEquivalentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:CashAndCashEquivalentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:AssetsOfConsolidatedViesMember mbi:CorporateObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember mbi:CorporateObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:MortgageBackedSecuritiesMember 2019-12-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:CreditDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InsuredDerivativesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:CreditDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InsuredDerivativesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:CreditDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:DerivativeLiabilitiesMember mbi:InterestRateDerivativesMember mbi:NonInsuredDerivativesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:DerivativeLiabilitiesMember mbi:InterestRateDerivativesMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:OtherPayableMember us-gaap:OtherLiabilitiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:OtherPayableMember us-gaap:OtherLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:LiabilitiesOfConsolidatedViesMember mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:LiabilitiesOfConsolidatedViesMember mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:LiabilitiesOfConsolidatedViesMember mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:DerivativeLiabilitiesMember mbi:OtherDerivativesMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:DerivativeLiabilitiesMember mbi:OtherDerivativesMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:DerivativeLiabilitiesMember mbi:InsuredDerivativesMember mbi:CreditDerivativesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:InterestRateDerivativesMember mbi:DerivativeLiabilitiesMember mbi:NonInsuredDerivativesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:NonInsuredDerivativesMember mbi:OtherDerivativesMember mbi:DerivativeLiabilitiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member mbi:NonInsuredDerivativesMember mbi:OtherDerivativesMember mbi:DerivativeLiabilitiesMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember mbi:OtherPayableMember us-gaap:OtherLiabilitiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember mbi:OtherPayableMember us-gaap:OtherLiabilitiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:VariableInterestEntityNotesMember mbi:LiabilitiesOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:DerivativeLiabilitiesMember mbi:InterestRateDerivativesMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000814585 mbi:LaeMember 2019-12-31 0000814585 mbi:InsuranceLossRecoverableMember 2019-12-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember 2019-12-31 0000814585 srt:ConsolidationEliminationsMember mbi:InternationalAndStructuredFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2019-12-31 0000814585 mbi:USPublicFinanceInsuranceMember 2019-12-31 0000814585 mbi:LossAndLaeReservesMember 2019-12-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember 2019-12-31 0000814585 mbi:CautionListLowMember 2019-12-31 0000814585 mbi:CautionListMediumMember 2019-12-31 0000814585 mbi:CautionListHighMember 2019-12-31 0000814585 mbi:ClassifiedListMember 2019-12-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember 2019-12-31 0000814585 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel2Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember 2019-12-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-12-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember 2019-12-31 0000814585 mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:FairValueMeasurementsNonrecurringMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAaMember mbi:InsuredSwapsMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAMember mbi:InsuredSwapsMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBbbMember mbi:InsuredSwapsMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBelowInvestmentGradeMember mbi:InsuredSwapsMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:InsuredSwapsMember 2019-12-31 0000814585 mbi:CreditRatingAaaMember mbi:InsuranceOperationsMember us-gaap:CreditDefaultSwapMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAaMember us-gaap:CreditDefaultSwapMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAMember us-gaap:CreditDefaultSwapMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBbbMember us-gaap:CreditDefaultSwapMember 2019-12-31 0000814585 mbi:CreditRatingAaaMember mbi:InsuranceOperationsMember mbi:InsuredSwapsMember 2019-12-31 0000814585 mbi:CreditRatingAaaMember mbi:InsuranceOperationsMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBelowInvestmentGradeMember us-gaap:CreditDefaultSwapMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember us-gaap:CreditDefaultSwapMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAaMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBbbMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBelowInvestmentGradeMember 2019-12-31 0000814585 mbi:InsuranceOperationsMember 2019-12-31 0000814585 us-gaap:CreditDefaultSwapMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 mbi:InsuredSwapsMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 mbi:AllOtherMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 mbi:InterestRateSwapsEmbeddedMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 mbi:CurrencySwapsVieMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 mbi:CurrencySwapsVieMember mbi:OtherAssetsVieMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember us-gaap:CreditDefaultSwapMember us-gaap:OtherAssetsMember 2019-12-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:InsuredSwapsMember us-gaap:OtherAssetsMember 2019-12-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:InterestRateSwapsEmbeddedMember us-gaap:MediumTermNotesMember 2019-12-31 0000814585 us-gaap:InterestRateSwapMember us-gaap:OtherAssetsMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2019-12-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:AllOtherMember us-gaap:OtherAssetsMember 2019-12-31 0000814585 us-gaap:CreditDefaultSwapMember mbi:DerivativeLiabilitiesMember mbi:DerivativeInstrumentMember us-gaap:NondesignatedMember 2019-12-31 0000814585 mbi:InsuredSwapsMember mbi:DerivativeLiabilitiesMember mbi:DerivativeInstrumentMember us-gaap:NondesignatedMember 2019-12-31 0000814585 us-gaap:InterestRateSwapMember mbi:DerivativeLiabilitiesMember mbi:DerivativeInstrumentMember us-gaap:NondesignatedMember 2019-12-31 0000814585 mbi:AllOtherMember mbi:DerivativeLiabilitiesMember mbi:DerivativeInstrumentMember us-gaap:NondesignatedMember 2019-12-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:CurrencySwapsVieMember mbi:DerivativeLiabilitiesVIEMember 2019-12-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ResidentialMortgageLoansMember us-gaap:LoansReceivableMember 2019-12-31 0000814585 mbi:TotalLoansReceivableAndOtherInstrumentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2019-12-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2019-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2019-12-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2020-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0000814585 country:PR 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:ConsumerAssetBackedMember 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:CorporateAssetBackedMember 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:GlobalPublicFinanceMember 2020-03-31 0000814585 us-gaap:ResidentialMortgageBackedSecuritiesMember us-gaap:InvestmentsMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 us-gaap:ResidentialMortgageBackedSecuritiesMember us-gaap:PremiumsReceivableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 us-gaap:ResidentialMortgageBackedSecuritiesMember mbi:InsuranceLossRecoverableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:InvestmentsMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:PremiumsReceivableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 us-gaap:CommercialMortgageBackedSecuritiesMember mbi:InsuranceLossRecoverableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:ConsumerAssetBackedMember us-gaap:InvestmentsMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:ConsumerAssetBackedMember us-gaap:PremiumsReceivableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:ConsumerAssetBackedMember mbi:InsuranceLossRecoverableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:CorporateAssetBackedMember us-gaap:InvestmentsMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:CorporateAssetBackedMember us-gaap:PremiumsReceivableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:CorporateAssetBackedMember mbi:InsuranceLossRecoverableMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:InvestmentsMember 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember us-gaap:PremiumsReceivableMember 2020-03-31 0000814585 mbi:GlobalStructuredFinanceMember mbi:InsuranceLossRecoverableMember 2020-03-31 0000814585 mbi:GlobalPublicFinanceMember us-gaap:InvestmentsMember 2020-03-31 0000814585 mbi:GlobalPublicFinanceMember us-gaap:PremiumsReceivableMember 2020-03-31 0000814585 mbi:GlobalPublicFinanceMember mbi:InsuranceLossRecoverableMember 2020-03-31 0000814585 us-gaap:InvestmentsMember 2020-03-31 0000814585 us-gaap:PremiumsReceivableMember 2020-03-31 0000814585 mbi:InsuranceLossRecoverableMember 2020-03-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-03-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-03-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember 2020-03-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember us-gaap:CommercialMortgageBackedSecuritiesMember 2020-03-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember mbi:ConsumerAssetBackedMember 2020-03-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember mbi:ConsumerAssetBackedMember 2020-03-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember mbi:CorporateAssetBackedMember 2020-03-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember mbi:CorporateAssetBackedMember 2020-03-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalStructuredFinanceMember 2020-03-31 0000814585 mbi:UnearnedPremiumRevenueMember mbi:GlobalPublicFinanceMember 2020-03-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember mbi:GlobalPublicFinanceMember 2020-03-31 0000814585 mbi:UnearnedPremiumRevenueMember 2020-03-31 0000814585 mbi:LossAndLossAdjustmentExpenseReservesMember 2020-03-31 0000814585 mbi:FairValueBelowBookValueGreaterThanFivePercentMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:USTreasuryAndGovernmentMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CorporateDebtSecuritiesMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CollateralizedDebtObligationsMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember 2020-03-31 0000814585 us-gaap:CorporateDebtSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0000814585 mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember mbi:ImpactOfFinancialGuaranteeMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember srt:MinimumMember 2020-03-31 0000814585 mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember mbi:ImpactOfFinancialGuaranteeMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember srt:MaximumMember 2020-03-31 0000814585 mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember mbi:ImpactOfFinancialGuaranteeMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember srt:WeightedAverageMember 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember srt:MinimumMember 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember srt:MaximumMember 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember srt:WeightedAverageMember 2020-03-31 0000814585 mbi:DirectPriceModelMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:NonperformanceRiskMember mbi:CreditDerivativesMember srt:MinimumMember 2020-03-31 0000814585 mbi:DirectPriceModelMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:NonperformanceRiskMember mbi:CreditDerivativesMember srt:MaximumMember 2020-03-31 0000814585 mbi:DirectPriceModelMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:NonperformanceRiskMember mbi:CreditDerivativesMember srt:WeightedAverageMember 2020-03-31 0000814585 mbi:OtherDerivativesMember mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember srt:MinimumMember 2020-03-31 0000814585 mbi:OtherDerivativesMember mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember srt:MaximumMember 2020-03-31 0000814585 mbi:OtherDerivativesMember mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember srt:WeightedAverageMember 2020-03-31 0000814585 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:MarketPricesAdjustedForFinancialGuaranteesProvidedToVieObligationsMember 2020-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:RecoveryRatesAndBreachRatesMember mbi:DiscountedCashFlowMember 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ImpactOfFinancialGuaranteeMember mbi:QuotedMarketPricesOfVieAssetsAdjustedForFinancialGuaranteesProvidedMember 2020-03-31 0000814585 mbi:CreditDerivativesMember mbi:NonperformanceRiskMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:DirectPriceModelMember 2020-03-31 0000814585 mbi:CashFlowsMember mbi:OtherDerivativesLiabilitiesMember mbi:DiscountedCashFlowMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember 2020-03-31 0000814585 mbi:UnrealizedLossPositionGreaterThanTwelveMonthsMember mbi:GreaterThanFivePercentToFifteenPercentMember 2020-03-31 0000814585 mbi:UnrealizedLossPositionGreaterThanTwelveMonthsMember mbi:GreaterThanFifteenPercentToTwentyFivePercentMember 2020-03-31 0000814585 mbi:UnrealizedLossPositionGreaterThanTwelveMonthsMember mbi:GreaterThanTwentyFivePercentToFiftyPercentMember 2020-03-31 0000814585 mbi:UnrealizedLossPositionGreaterThanTwelveMonthsMember mbi:GreaterThanFiftyPercentMember 2020-03-31 0000814585 mbi:UnrealizedLossPositionGreaterThanTwelveMonthsMember mbi:FairValueBelowBookValueGreaterThanFivePercentMember 2020-03-31 0000814585 mbi:MbiaCorpAndNationalMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FinancialGuaranteeMember 2020-03-31 0000814585 us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:MoneyMarketSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:MoneyMarketSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:MoneyMarketSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:MoneyMarketSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:PerpetualDebtAndEquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:PerpetualDebtAndEquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:PerpetualDebtAndEquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:PerpetualDebtAndEquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedIncomeFundsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedIncomeFundsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedIncomeFundsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedIncomeFundsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CashAndCashEquivalentsMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:InterestRateDerivativesMember mbi:DerivativeAssetsMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:InterestRateDerivativesMember mbi:DerivativeAssetsMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:InterestRateDerivativesMember mbi:DerivativeAssetsMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:InterestRateDerivativesMember mbi:DerivativeAssetsMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember mbi:CorporateObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:CorporateObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:AssetsOfConsolidatedViesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:OtherAssetBackedMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:AssetsOfConsolidatedViesMember us-gaap:CashAndCashEquivalentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:CashAndCashEquivalentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:CorporateObligationsMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:CorporateObligationsMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:CommercialMortgageBackedSecuritiesMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:OtherAssetBackedMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:OtherAssetBackedMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherAssetsMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:OtherAssetsMember mbi:AssetsOfConsolidatedViesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:ResidentialPortfolioSegmentMember mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember mbi:AssetsOfConsolidatedViesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:ResidentialPortfolioSegmentMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:AssetsOfConsolidatedViesMember mbi:CurrencyDerivativesMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:AssetsOfConsolidatedViesMember mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:ResidentialPortfolioSegmentMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember mbi:AssetsOfConsolidatedViesMember mbi:LoansReceivableAndOtherInstrumentsAtFairValueMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:ResidentialPortfolioSegmentMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:USTreasuryAndGovernmentMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:USTreasuryAndGovernmentMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:USTreasuryAndGovernmentMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:USTreasuryAndGovernmentMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:USStatesAndPoliticalSubdivisionsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:USStatesAndPoliticalSubdivisionsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:USStatesAndPoliticalSubdivisionsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:USStatesAndPoliticalSubdivisionsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:ForeignGovernmentDebtMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:CorporateObligationsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember mbi:CorporateObligationsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:CorporateObligationsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember mbi:CorporateObligationsMember mbi:OtherFixedMaturityInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember mbi:ResidentialMortgageBackedNonAgencyMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FixedMaturitiesMember us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FixedMaturitiesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:FixedMaturitiesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FixedMaturitiesMember us-gaap:CollateralizedDebtObligationsMember us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member mbi:NonInsuredDerivativesMember mbi:DerivativeLiabilitiesMember mbi:OtherDerivativesMember 2020-03-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:CreditDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InsuredDerivativesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:CreditDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InsuredDerivativesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:CreditDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:DerivativeLiabilitiesMember mbi:InterestRateDerivativesMember mbi:NonInsuredDerivativesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:DerivativeLiabilitiesMember mbi:InterestRateDerivativesMember mbi:NonInsuredDerivativesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:LiabilitiesOfConsolidatedViesMember mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:LiabilitiesOfConsolidatedViesMember mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 mbi:LiabilitiesOfConsolidatedViesMember mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:MediumTermNotesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member us-gaap:MediumTermNotesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:InsuredDerivativesMember mbi:CreditDerivativesMember mbi:DerivativeLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember mbi:NonInsuredDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InterestRateDerivativesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsRecurringMember mbi:LiabilitiesOfConsolidatedViesMember mbi:VariableInterestEntityNotesMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember mbi:NonInsuredDerivativesMember mbi:DerivativeLiabilitiesMember mbi:InterestRateDerivativesMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member mbi:NonInsuredDerivativesMember mbi:DerivativeLiabilitiesMember mbi:OtherDerivativesMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member mbi:NonInsuredDerivativesMember mbi:DerivativeLiabilitiesMember mbi:OtherDerivativesMember 2020-03-31 0000814585 us-gaap:FairValueMeasurementsRecurringMember mbi:NonInsuredDerivativesMember mbi:DerivativeLiabilitiesMember mbi:OtherDerivativesMember 2020-03-31 0000814585 mbi:LaeMember 2020-03-31 0000814585 mbi:USPublicFinanceInsuranceMember 2020-03-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember 2020-03-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember srt:ConsolidationEliminationsMember 2020-03-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2020-03-31 0000814585 mbi:InsuranceLossRecoverableMember 2020-03-31 0000814585 mbi:LossAndLaeReservesMember 2020-03-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:LoanRepurchaseCommitmentsMember 2020-03-31 0000814585 mbi:CautionListLowMember 2020-03-31 0000814585 mbi:CautionListMediumMember 2020-03-31 0000814585 mbi:CautionListHighMember 2020-03-31 0000814585 mbi:ClassifiedListMember 2020-03-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-03-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0000814585 mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember 2020-03-31 0000814585 mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:FairValueMeasurementsNonrecurringMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel1Member mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-03-31 0000814585 us-gaap:FairValueInputsLevel2Member mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-03-31 0000814585 us-gaap:EstimateOfFairValueFairValueDisclosureMember mbi:ValueDisclosedAtFairValueNotRecordedAtFairValueMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAaMember mbi:InsuredSwapsMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAMember mbi:InsuredSwapsMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBbbMember mbi:InsuredSwapsMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBelowInvestmentGradeMember mbi:InsuredSwapsMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:InsuredSwapsMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBelowInvestmentGradeMember us-gaap:CreditDefaultSwapMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember us-gaap:CreditDefaultSwapMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAaMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBbbMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBelowInvestmentGradeMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember 2020-03-31 0000814585 mbi:CreditRatingAaaMember mbi:InsuranceOperationsMember us-gaap:CreditDefaultSwapMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAaMember us-gaap:CreditDefaultSwapMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingAMember us-gaap:CreditDefaultSwapMember 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:CreditRatingBbbMember us-gaap:CreditDefaultSwapMember 2020-03-31 0000814585 mbi:CreditRatingAaaMember mbi:InsuranceOperationsMember mbi:InsuredSwapsMember 2020-03-31 0000814585 mbi:CreditRatingAaaMember mbi:InsuranceOperationsMember 2020-03-31 0000814585 us-gaap:CreditDefaultSwapMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 mbi:InsuredSwapsMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 mbi:AllOtherMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 mbi:InterestRateSwapsEmbeddedMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 mbi:CurrencySwapsVieMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 mbi:CurrencySwapsVieMember mbi:OtherAssetsVieMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember us-gaap:CreditDefaultSwapMember us-gaap:OtherAssetsMember 2020-03-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:InsuredSwapsMember us-gaap:OtherAssetsMember 2020-03-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:InterestRateSwapsEmbeddedMember us-gaap:MediumTermNotesMember 2020-03-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:AllOtherMember us-gaap:OtherAssetsMember 2020-03-31 0000814585 us-gaap:InterestRateSwapMember us-gaap:OtherAssetsMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 us-gaap:CreditDefaultSwapMember mbi:DerivativeLiabilitiesMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 mbi:InsuredSwapsMember mbi:DerivativeLiabilitiesMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 us-gaap:InterestRateSwapMember mbi:DerivativeLiabilitiesMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 mbi:AllOtherMember mbi:DerivativeLiabilitiesMember us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember 2020-03-31 0000814585 us-gaap:NondesignatedMember mbi:DerivativeInstrumentMember mbi:CurrencySwapsVieMember mbi:DerivativeLiabilitiesVIEMember 2020-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ResidentialMortgageLoansMember us-gaap:LoansReceivableMember 2020-03-31 0000814585 mbi:TotalLoansReceivableAndOtherInstrumentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2020-03-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:LoansReceivableMember 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:CorporateOperationsMember 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:USPublicFinanceInsuranceMember 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:InternationalAndStructuredFinanceInsuranceMember 2020-03-31 0000814585 us-gaap:IntersegmentEliminationMember 2020-03-31 0000814585 us-gaap:CollateralPledgedMember 2020-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2019-01-01 2019-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:FinancialGuaranteeInsuranceSegmentMember 2019-01-01 2019-03-31 0000814585 us-gaap:RetainedEarningsMember us-gaap:AccountingStandardsUpdate201613Member 2019-01-01 2019-03-31 0000814585 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0000814585 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0000814585 us-gaap:TreasuryStockMember 2019-01-01 2019-03-31 0000814585 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0000814585 us-gaap:ParentMember 2019-01-01 2019-03-31 0000814585 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-03-31 0000814585 us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:USPublicFinanceInsuranceMember 2019-01-01 2019-03-31 0000814585 us-gaap:IntersegmentEliminationMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2019-01-01 2019-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:USPublicFinanceInsuranceMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2019-01-01 2019-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:OperatingSegmentsMember mbi:CorporateOperationsMember 2019-01-01 2019-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:OperatingSegmentsMember mbi:InternationalAndStructuredFinanceInsuranceMember 2019-01-01 2019-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:USPublicFinanceInsuranceMember 2019-01-01 2019-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:CorporateOperationsMember 2019-01-01 2019-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:InternationalAndStructuredFinanceInsuranceMember 2019-01-01 2019-03-31 0000814585 us-gaap:IntersegmentEliminationMember 2019-01-01 2019-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:USPublicFinanceInsuranceMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:CorporateOperationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:InternationalAndStructuredFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:IntersegmentEliminationMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 mbi:LaeMember 2019-01-01 2019-03-31 0000814585 us-gaap:GainLossOnInvestmentsMember1 us-gaap:EquitySecuritiesMember 2019-01-01 2019-03-31 0000814585 us-gaap:SalesMember us-gaap:EquitySecuritiesMember 2019-01-01 2019-03-31 0000814585 mbi:HeldMember us-gaap:EquitySecuritiesMember 2019-01-01 2019-03-31 0000814585 us-gaap:InterestRateSwapMember mbi:ForeignExchangeAndOtherDerivativesFinancialInstrumentsMember 2019-01-01 2019-03-31 0000814585 mbi:CurrencySwapsVieMember mbi:ForeignExchangeAndOtherDerivativesFinancialInstrumentsMember 2019-01-01 2019-03-31 0000814585 mbi:ForeignExchangeAndOtherDerivativesFinancialInstrumentsMember mbi:AllOtherMember 2019-01-01 2019-03-31 0000814585 us-gaap:CreditDefaultSwapMember mbi:UnrealizedGainsLossesOnInsuredDerivativesMember 2019-01-01 2019-03-31 0000814585 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:CommercialMortgageBackedSecuritiesMember 2019-01-01 2019-03-31 0000814585 mbi:OtherAssetBackedMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:CorporateObligationMember 2019-01-01 2019-03-31 0000814585 us-gaap:CollateralizedDebtObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 mbi:OtherPayableMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:MediumTermNotesMember 2019-01-01 2019-03-31 0000814585 mbi:CreditDerivativesMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 mbi:OtherDerivativesLiabilitiesMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:TotalGainsLossesIncludedInEarningsMember 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:ChangeInUnrealizedGainsLossesForPeriodIncludedInEarningsForAssetsAndLiabilitiesStillHeldMember 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:TotalGainsLossesIncludedInEarningsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:ChangeInUnrealizedGainsLossesForPeriodIncludedInEarningsForAssetsAndLiabilitiesStillHeldMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 mbi:InvestmentsCarriedAtFairValueMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2019-01-01 2019-03-31 0000814585 mbi:FixedMaturitySecuritiesHeldAtFairValueVieMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ResidentialMortgageLoansMember 2019-01-01 2019-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:MediumTermNotesMember 2019-01-01 2019-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:OtherLiabilitiesMember 2019-01-01 2019-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-01-01 2019-03-31 0000814585 us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember 2019-01-01 2019-03-31 0000814585 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0000814585 srt:ScenarioPreviouslyReportedMember 2019-01-01 2019-03-31 0000814585 mbi:AccountingStandardsUpdate201912Member 2019-01-01 2019-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2020-01-01 2020-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:FinancialGuaranteeInsuranceSegmentMember 2020-01-01 2020-03-31 0000814585 us-gaap:AccountingStandardsUpdate201613Member us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0000814585 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0000814585 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0000814585 us-gaap:TreasuryStockMember 2020-01-01 2020-03-31 0000814585 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0000814585 us-gaap:ParentMember 2020-01-01 2020-03-31 0000814585 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-01-01 2020-03-31 0000814585 us-gaap:AccumulatedTranslationAdjustmentMember 2020-01-01 2020-03-31 0000814585 us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember 2020-01-01 2020-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:StructuredFinanceAndInternationalInsuranceMember 2020-01-01 2020-03-31 0000814585 mbi:USPublicFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-01-01 2020-03-31 0000814585 us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionAttributableToParentMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:USPublicFinanceInsuranceMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2020-01-01 2020-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:OperatingSegmentsMember mbi:CorporateOperationsMember 2020-01-01 2020-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:OperatingSegmentsMember mbi:InternationalAndStructuredFinanceInsuranceMember 2020-01-01 2020-03-31 0000814585 us-gaap:IntersegmentEliminationMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2020-01-01 2020-03-31 0000814585 us-gaap:IntersegmentEliminationMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:USPublicFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:CorporateOperationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:InternationalAndStructuredFinanceInsuranceMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:OperatingSegmentsMember mbi:USPublicFinanceInsuranceMember 2020-01-01 2020-03-31 0000814585 mbi:CorporateOperationsMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-03-31 0000814585 mbi:InternationalAndStructuredFinanceInsuranceMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-03-31 0000814585 us-gaap:IntersegmentEliminationMember 2020-01-01 2020-03-31 0000814585 mbi:SecuritiesInUnrealizedLossPositionMember 2020-01-01 2020-03-31 0000814585 mbi:LaeMember 2020-01-01 2020-03-31 0000814585 us-gaap:EquitySecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2020-01-01 2020-03-31 0000814585 us-gaap:EquitySecuritiesMember us-gaap:SalesMember 2020-01-01 2020-03-31 0000814585 us-gaap:EquitySecuritiesMember mbi:HeldMember 2020-01-01 2020-03-31 0000814585 mbi:LossAndLaeReservesMember 2020-01-01 2020-03-31 0000814585 mbi:InsuranceLossRecoverableMember 2020-01-01 2020-03-31 0000814585 mbi:CautionListLowMember 2020-01-01 2020-03-31 0000814585 mbi:CautionListMediumMember 2020-01-01 2020-03-31 0000814585 mbi:ClassifiedListMember 2020-01-01 2020-03-31 0000814585 us-gaap:CreditDefaultSwapMember mbi:InsuranceOperationsMember 2020-01-01 2020-03-31 0000814585 mbi:InsuranceOperationsMember mbi:InsuredSwapsMember 2020-01-01 2020-03-31 0000814585 us-gaap:InterestRateSwapMember mbi:ForeignExchangeAndOtherDerivativesFinancialInstrumentsMember 2020-01-01 2020-03-31 0000814585 mbi:CurrencySwapsVieMember mbi:ForeignExchangeAndOtherDerivativesFinancialInstrumentsMember 2020-01-01 2020-03-31 0000814585 mbi:ForeignExchangeAndOtherDerivativesFinancialInstrumentsMember mbi:AllOtherMember 2020-01-01 2020-03-31 0000814585 mbi:UnrealizedGainsLossesOnInsuredDerivativesMember us-gaap:CreditDefaultSwapMember 2020-01-01 2020-03-31 0000814585 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0000814585 mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:OtherAssetBackedMember 2020-01-01 2020-03-31 0000814585 mbi:CreditDerivativesMember us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0000814585 mbi:OtherDerivativesLiabilitiesMember us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:OtherPayableMember 2020-01-01 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:TotalGainsLossesIncludedInEarningsMember 2020-01-01 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member mbi:ChangeInUnrealizedGainsLossesForPeriodIncludedInEarningsForAssetsAndLiabilitiesStillHeldMember 2020-01-01 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:TotalGainsLossesIncludedInEarningsMember 2020-01-01 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ChangeInUnrealizedGainsLossesForPeriodIncludedInEarningsForAssetsAndLiabilitiesStillHeldMember 2020-01-01 2020-03-31 0000814585 mbi:InvestmentsCarriedAtFairValueMember srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember 2020-01-01 2020-03-31 0000814585 mbi:FixedMaturitySecuritiesHeldAtFairValueVieMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:LoansReceivableMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember mbi:ResidentialMortgageLoansMember 2020-01-01 2020-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:MediumTermNotesMember 2020-01-01 2020-03-31 0000814585 srt:ConsolidatedEntityExcludingVariableInterestEntitiesVIEMember us-gaap:OtherLiabilitiesMember 2020-01-01 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-03-31 0000814585 mbi:FuelLineLendersMember 2020-01-01 2020-03-31 0000814585 us-gaap:CorporateDebtSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-03-31 0000814585 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0000814585 country:PR 2020-01-01 2020-01-01 0000814585 us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-01-01 0000814585 mbi:SecuritiesInUnrealizedLossPositionMember 2019-01-01 2019-12-31 0000814585 mbi:CautionListLowMember 2019-01-01 2019-12-31 0000814585 mbi:CautionListMediumMember 2019-01-01 2019-12-31 0000814585 mbi:ClassifiedListMember 2019-01-01 2019-12-31 0000814585 mbi:InsuranceOperationsMember mbi:InsuredSwapsMember 2019-01-01 2019-12-31 0000814585 us-gaap:CreditDefaultSwapMember mbi:InsuranceOperationsMember 2019-01-01 2019-12-31 0000814585 us-gaap:ParentMember 2018-12-31 0000814585 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000814585 us-gaap:RetainedEarningsMember 2018-12-31 0000814585 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000814585 us-gaap:TreasuryStockMember 2018-12-31 0000814585 us-gaap:CommonStockMember 2018-12-31 0000814585 us-gaap:TreasuryStockMember 2019-03-31 0000814585 us-gaap:ParentMember 2019-03-31 0000814585 us-gaap:CommonStockMember 2019-03-31 0000814585 us-gaap:PreferredStockMember 2019-03-31 0000814585 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0000814585 us-gaap:RetainedEarningsMember 2019-03-31 0000814585 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0000814585 us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 mbi:OtherAssetBackedMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 mbi:CorporateObligationMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 us-gaap:CollateralizedDebtObligationsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 mbi:OtherAssetBackedMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 mbi:CorporateObligationMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-03-31 0000814585 us-gaap:CollateralizedDebtObligationsMember us-gaap:FairValueInputsLevel3Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-03-31 0000814585 mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 mbi:CreditDerivativesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:MediumTermNotesMember 2018-12-31 0000814585 mbi:OtherDerivativesLiabilitiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 mbi:OtherPayableMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 mbi:OtherPayableMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 mbi:OtherDerivativesLiabilitiesMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 us-gaap:FairValueInputsLevel3Member us-gaap:MediumTermNotesMember 2019-03-31 0000814585 mbi:CreditDerivativesMember us-gaap:FairValueInputsLevel3Member 2019-03-31 0000814585 us-gaap:ParentMember 2019-12-31 0000814585 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000814585 us-gaap:RetainedEarningsMember 2019-12-31 0000814585 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000814585 us-gaap:TreasuryStockMember 2019-12-31 0000814585 us-gaap:CommonStockMember 2019-12-31 0000814585 us-gaap:TreasuryStockMember 2020-03-31 0000814585 us-gaap:ParentMember 2020-03-31 0000814585 us-gaap:CommonStockMember 2020-03-31 0000814585 us-gaap:PreferredStockMember 2020-03-31 0000814585 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0000814585 us-gaap:RetainedEarningsMember 2020-03-31 0000814585 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0000814585 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-12-31 0000814585 us-gaap:AccumulatedTranslationAdjustmentMember 2019-12-31 0000814585 mbi:OtherAssetBackedMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 mbi:OtherAssetBackedMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 us-gaap:ResidentialPortfolioSegmentMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 mbi:OtherPayableMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 mbi:OtherDerivativesLiabilitiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 mbi:CreditDerivativesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000814585 mbi:OtherPayableMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 mbi:VariableInterestEntityNotesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 mbi:OtherDerivativesLiabilitiesMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 us-gaap:MediumTermNotesMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 mbi:CreditDerivativesMember us-gaap:FairValueInputsLevel3Member 2020-03-31 0000814585 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-03-31 0000814585 us-gaap:AccumulatedTranslationAdjustmentMember 2020-03-31 0000814585 us-gaap:AccountingStandardsUpdate201613Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:CorporateDebtSecuritiesMember us-gaap:AccountingStandardsUpdate201613Member us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0000814585 us-gaap:CorporateDebtSecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:AccountingStandardsUpdate201613Member 2020-03-31 0000814585 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:AccountingStandardsUpdate201613Member 2020-03-31 0000814585 mbi:LoanRepurchaseCommitmentsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 mbi:CurrencyDerivativesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000814585 us-gaap:OtherAssetsMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:FairValueInputsLevel3Member 2018-12-31 iso4217:USD xbrli:shares xbrli:pure iso4217:USD xbrli:shares mbi:issue mbi:segments mbi:security mbi:policy
Table of Contents
 
 
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 10-Q
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 
 
 
For the quarterly period ended March 31, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 
 
 
For the transition period from                  to                 
Commission File Number:
1-9583
 
MBIA INC.
(Exact name of registrant as specified in its charter)
 
     
Connecticut
 
06-1185706
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
     
1 Manhattanville Road, Suite 301PurchaseNew York
 
10577
(Address of principal executive offices)
 
(Zip Code)
 
 
 
 
 
(914)
 273-4545
(Registrant’s telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
         
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Common Stock
 
MBI
 
New York Stock Exchange
 
 
 
 
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  
    No  
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T
(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes
    No  
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company,” and “emerging growth company” in Rule
12b-2
of the Exchange Act.
             
Large accelerated filer
 
 
Accelerated filer
 
             
Non-accelerated
filer
 
 
Smaller reporting company
 
             
 
 
Emerging growth company
 
 
 
 
 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  
Indicate by check mark whether the Registrant is a shell company (as defined in Rule
12b-2
of the Exchange Act).    Yes  
    No  
As of May 4, 2020, 67,699,960 shares of Common Stock, par value $1 per share, were outstanding.
 
 

Table of Contents
 
             
 
    
 
PAGE
 
 
 
 
             
Item 1.
     
 
             
     
1
 
     
2
 
     
3
 
     
4
 
     
5
 
             
     
6
 
     
6
 
     
9
 
     
10
 
     
12
 
     
13
 
     
19
 
     
33
 
     
38
 
     
41
 
     
42
 
     
44
 
     
45
 
     
46
 
             
Item 2.
     
49
 
             
Item 3.
     
76
 
             
Item 4.
     
76
 
         
 
 
 
             
Item 1.
     
77
 
             
Item 1A.
     
77
 
             
Item 2.
     
80
 
             
Item 6.
     
81
 
         
   
82
 

Table of Contents
FORWARD-LOOKING AND CAUTIONARY STATEMENTS
This quarterly report of MBIA Inc., together with its consolidated subsidiaries, (collectively, “MBIA”, the “Company”, “we”, “us” or “our”) includes statements that are not historical or current facts and are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “believe”, “anticipate”, “project”, “plan”, “expect”, “estimate”, “intend”, “will likely result”, “looking forward”, or “will continue” and similar expressions identify forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. MBIA cautions readers not to place undue reliance on any such forward-looking statements, which speak only to their respective dates. We undertake no obligation to publicly correct or update any forward-looking statement if the Company later becomes aware that such result is not likely to be achieved.
The following are some of the general factors that could affect financial performance or could cause actual results to differ materially from estimates contained in or underlying the Company’s forward-looking statements:
  increased credit losses or impairments on public finance obligations that National Public Finance Guarantee Corporation (“National”) insures issued by state, local and territorial governments and finance authorities and other providers of public services, located in the U.S. or abroad, that are experiencing fiscal stress;
  the possibility that loss reserve estimates are not adequate to cover potential claims;
  a disruption in the cash flow from National or an inability to access the capital markets and our exposure to significant fluctuations in liquidity and asset values in the global credit markets as a result of collateral posting requirements;
  our ability to fully implement our strategic plan;
  the possibility that MBIA Insurance Corporation will have inadequate liquidity or resources to timely pay claims as a result of higher than expected losses on certain insured transactions or as a result of a delay or failure in collecting expected recoveries, which could lead the New York State Department of Financial Services (“NYSDFS”) to put MBIA Insurance Corporation into a rehabilitation or liquidation proceeding under Article 74 of the New York Insurance Law and/or take such other actions as the NYSDFS may deem necessary to protect the interests of MBIA Insurance Corporation’s policyholders;
  the impact on our insured portfolios or business operations caused by the global spread of the novel coronavirus
COVID-19;
  deterioration in the economic environment and financial markets in the United States or abroad, real estate market performance, credit spreads, interest rates and foreign currency levels; and
  the effects of changes to governmental regulation, including insurance laws, securities laws, tax laws, legal precedents and accounting rules.
The above factors provide a summary of and are qualified in their entirety by the risk factors discussed under “Risk Factors” in Part II, Other Information, Item 1A included in this Quarterly Report on Form
10-Q.
In addition, refer to “Note 1: Business Developments and Risk and Uncertainties” in the Notes to Consolidated Financial Statements included in this Quarterly Report on Form
10-Q
for a discussion of certain risks and uncertainties related to our financial statements.
This quarterly report of MBIA Inc. also includes statements of the opinion and belief of MBIA management which may be forward-looking statements subject to the preceding cautionary disclosure. Unless otherwise indicated herein, the basis for each statement of opinion or belief of MBIA management in this report is the relevant industry or subject matter experience and views of certain members of MBIA’s management. Accordingly, MBIA cautions readers not to place undue reliance on any such statements, because like all statements of opinion or belief they are not statements of fact and may prove to be incorrect. We undertake no obligation to publicly correct or update any statement of opinion or belief if the Company later becomes aware that such statement of opinion or belief was not or is not then accurate. In addition, readers are cautioned that each statement of opinion or belief may be further qualified by disclosures set forth elsewhere in this report or in other disclosures by MBIA.

Table of Contents
PART I FINANCIAL INFORMATION
Item 1. Financial Statements
MBIA INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (Unaudited)
(In millions except share and per share amounts)
                               
 
March 31, 2020
 
 
December 31, 2019
 
Assets
 
 
 
 
 
 
Investments:
   
     
 
Fixed-maturity securities held as
available-for-sale,
at fair value (amortized cost $2,559 and $2,705)
  $
2,720
    $
2,820
 
Investments carried at fair value
   
187
     
209
 
Investments pledged as collateral, at fair value (amortized cost $6 and $15)
   
1
     
10
 
Short-term investments, at fair value (amortized cost $247 and $423)
   
245
     
423
 
                 
Total investments
   
3,153
     
3,462
 
Cash and cash equivalents
   
212
     
75
 
Premiums receivable (net of allowance for credit losses $4 and $-)
   
240
     
249
 
Deferred acquisition costs
   
58
     
60
 
Insurance loss recoverable
   
1,607
     
1,694
 
Other assets
   
116
     
115
 
Assets of consolidated variable interest entities:
   
     
 
Cash
   
5
     
8
 
Investments
held-to-maturity,
at amortized cost (net of allowance for credit losses $46 and $-, fair value $572 and $892)
   
529
     
890
 
Investments carried at fair value
   
75
     
83
 
Loans receivable at fair value
   
98
     
136
 
Loan repurchase commitments
   
506
     
486
 
Other assets
   
33
     
26
 
                 
Total assets
 
$
6,632
 
 
$
7,284
 
                 
Liabilities and Equity
 
 
 
 
 
 
Liabilities:
   
     
 
Unearned premium revenue
  $
464
    $
482
 
Loss and loss adjustment expense reserves
   
966
     
901
 
Long-term debt
   
2,261
     
2,228
 
Medium-term notes (includes financial instruments carried at fair value of $98 and $108)
   
663
     
680
 
Investment agreements
   
295
     
304
 
Derivative liabilities
   
206
     
175
 
Other liabilities
   
120
     
136
 
Liabilities of consolidated variable interest entities:
   
     
 
Variable interest entity notes (includes financial instruments carried at fair value of $331 and $403)
   
1,160
     
1,539
 
                 
Total liabilities