Bond insurer MBIA Inc. reported experiencing losses in the fourth quarter of 2011.
In a report released 4 p.m. Eastern Standard Time Wednesday, MBIA said that it had an adjusted pre-tax loss, a non-GAAP measure, of $252 million in the fourth quarter of 2011. This compares to an adjusted pre-tax loss of $311 million in the fourth quarter of 2010.
MBIA also reported a net loss to common shareholders of $626 million for the fourth quarter of 2011. This compares to a gain in the fourth quarter 2010 of $451 million.
The company’s adjusted book value fell to $34.50 per share on Dec. 31, 2011, from $36.81 per share on Dec. 31, 2010.
On a brighter note, since Oct. 1, 2011, MBIA has commuted or agreed to commute $23.9 billion in insured exposure comprising primarily commercial real estate transactions.