Consolidated Statements of Operations (USD $) In Thousands, except Per Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Revenues
Net earned premiums	$ 230,068	$ 297,050	$ 484,045	$ 611,670
Net investment income	101,153	90,871	197,214	175,173
Net realized investment gains (losses):
Other-than-temporary impairment losses	(26,818)	(17,412)	(33,765)	(18,529)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	(15,240)		(17,609)	(661)
Other net realized investment gains (losses)	6,488	8,974	13,872	18,843
Net realized investment gains (losses)	(5,090)	(8,438)	(2,284)	975
Net change in fair value of credit derivatives:
Realized gains and other settlements	(10,836)	38,353	24,591	65,056
Net unrealized gains (losses)	(54,059)	35,115	(325,695)	287,213
Net change in fair value of credit derivatives	(64,895)	73,468	(301,104)	352,269
Fair value gain (loss) on committed capital securities	569	12,593	1,095	11,318
Net change in fair value of financial guaranty variable interest entities	(174,286)	(27,392)	(54,685)	(36,305)
Other income	28,775	(13,396)	70,926	(26,325)
Total Revenues	116,294	424,756	395,207	1,088,775
Expenses
Loss and loss adjustment expenses	123,913	85,770	98,333	196,622
Amortization of deferred acquisition costs	9,533	6,936	16,953	15,109
Assured Guaranty Municipal Holdings Inc. acquisition-related expenses		2,751		6,772
Interest expense	24,696	24,831	49,456	49,965
Other operating expenses	48,508	47,507	105,343	110,040
Total expenses	206,650	167,795	270,085	378,508
Income (loss) before income taxes	(90,356)	256,961	125,122	710,267
Provision (benefit) for income taxes
Current	9,864	44,822	(187,735)	5,869
Deferred	(57,684)	33,004	214,781	191,803
Total provision (benefit) for income taxes	(47,820)	77,826	27,046	197,672
Net income (loss)	$ (42,536)	$ 179,135	$ 98,076	$ 512,595
Earnings per share:
Basic (in dollars per share)	$ (0.23)	$ 0.97	$ 0.53	$ 2.78
Diluted (in dollars per share)	$ (0.23)	$ 0.95	$ 0.52	$ 2.70
Dividends per share (in dollars per share)	$ 0.045	$ 0.045	$ 0.090	$ 0.090