July 25, 2017 / 10:20 PM / 2 years ago

BRIEF-MBIA Inc in July 11 letter says ceased efforts to actively pursue writing new insurance policies for now at National Public Finance Guarantee

July 25 (Reuters) - MBIA Inc

* MBIA Inc - in July 11 letter, co said it ceased for now efforts to actively pursue writing new insurance policies at National Public Finance Guarantee

* MBIA Inc - has determined that it is required to establish a full valuation allowance on its deferred tax asset as of June 30, 2017 - SEC filing

* MBIA Inc - valuation allowance will result in a $1.1 billion charge to consolidated net income for the second quarter of 2017 - SEC filing‍​

* MBIA Inc - ‍valuation allowance will result in a $1.1 billion reduction in GAAP book value at June 30, 2017​‍​ ‍​ Source text: (bit.ly/2vGX6Fg) Further company coverage:

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