PURCHASE, N.Y.--(BUSINESS WIRE)--MBIA Inc. (NYSE:MBI) today announced the resignations of Maryann Bruce, Keith D. Curry and Lois A. Scott from the MBIA Inc. Board of Directors effective July 28, 2017. The resignations follow a reassessment of the appropriate governance profile of the Company following its decision to cease, for now, efforts to actively pursue writing new insurance policies at its indirect subsidiary, National Public Finance Guarantee Corporation. There is no present intention to replace the outgoing directors.

MBIA Chairman of the Board Charles Rinehart said, “On behalf of my fellow Board members, I express our sincere gratitude to Maryann, Keith and Lois for their dedicated service, their many contributions and their strong support and commitment to our Board and the Company.”

MBIA Chief Executive Officer Jay Brown added, “Our management team is also grateful for the valuable guidance that we’ve received from Maryann, Keith and Lois as we’ve managed our Company through some unprecedented and demanding situations. We wish all of them continued success in the future.”

MBIA Inc., headquartered in Purchase, New York is a holding company whose subsidiaries provide financial guarantee insurance for the public and structured finance markets. Please visit MBIA's website at www.mbia.com.