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Restatement of Previously Issued Financial Statements (Details 2) (USD $)
3 Months Ended6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues    
Net earned premiums$ 230,068,000$ 297,050,000$ 484,045,000$ 611,670,000
Net investment income101,153,00090,871,000197,214,000175,173,000
Net realized investment gains (losses)(5,090,000)(8,438,000)(2,284,000)975,000
Net change in fair value of credit derivatives(64,895,000)73,468,000(301,104,000)352,269,000
Fair value gain (loss) on committed capital securities569,00012,593,0001,095,00011,318,000
Net change in financial guaranty variable interest entities(174,286,000)(27,392,000)(54,685,000)(36,305,000)
Other income28,775,000(13,396,000)70,926,000(26,325,000)
Total Revenues116,294,000424,756,000395,207,0001,088,775,000
Expenses    
Loss and loss adjustment expenses123,913,00085,770,00098,333,000196,622,000
Interest and other operating expenses82,700,00082,000,000171,700,000181,900,000
Total expenses206,650,000167,795,000270,085,000378,508,000
Income (loss) before income taxes(90,356,000)256,961,000125,122,000710,267,000
Provision (benefit) for income taxes    
Current9,864,00044,822,000(187,735,000)5,869,000
Deferred(57,684,000)33,004,000214,781,000191,803,000
Total provision (benefit) for income taxes(47,820,000)77,826,00027,046,000197,672,000
Net income (loss)(42,536,000)179,135,00098,076,000512,595,000
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
As Previously Filed
    
Revenues    
Net earned premiums230,000,000292,100,000484,000,000611,700,000
Net investment income100,800,00090,900,000197,200,000175,200,000
Net realized investment gains (losses)(5,100,000)(8,400,000)(2,300,000)1,000,000
Net change in fair value of credit derivatives(59,400,000)73,500,000(295,100,000)352,300,000
Fair value gain (loss) on committed capital securities600,00012,600,0001,100,00011,300,000
Net change in financial guaranty variable interest entities(193,700,000)500,000(99,800,000)(10,100,000)
Other income28,800,000(13,500,000)71,000,000(26,400,000)
Total Revenues102,000,000447,700,000356,100,0001,115,000,000
Expenses    
Loss and loss adjustment expenses132,900,00071,200,000105,900,000201,700,000
Interest and other operating expenses82,700,00082,000,000171,700,000181,900,000
Total expenses215,600,000153,200,000277,600,000383,600,000
Income (loss) before income taxes(113,600,000)294,500,00078,500,000731,400,000
Provision (benefit) for income taxes    
Current9,900,00044,900,000(187,700,000)5,900,000
Deferred(65,800,000)46,100,000198,500,000200,000,000
Total provision (benefit) for income taxes(55,900,000)91,000,00010,800,000205,900,000
Net income (loss)(57,700,000)203,500,00067,700,000525,500,000
Earnings per share:    
Basic (in dollars per share)$ (0.31)$ 1.10$ 0.37$ 2.85
Diluted (in dollars per share)$ (0.31)$ 1.08$ 0.36$ 2.77
FG VIE Eliminations
    
Revenues    
Net earned premiums 4,900,000  
Net investment income300,000   
Net change in financial guaranty variable interest entities19,400,000(27,900,000)45,100,000(26,200,000)
Total Revenues19,700,000(23,000,000)45,100,000(26,200,000)
Expenses    
Loss and loss adjustment expenses2,700,00014,300,0003,900,000100,000
Total expenses2,700,00014,300,0003,900,000100,000
Income (loss) before income taxes17,000,000(37,300,000)41,200,000(26,300,000)
Provision (benefit) for income taxes    
Deferred6,000,000(13,100,000)14,500,000(9,200,000)
Total provision (benefit) for income taxes6,000,000(13,100,000)14,500,000(9,200,000)
Net income (loss)11,000,000(24,200,000)26,700,000(17,100,000)
Other Adjustments
    
Revenues    
Net change in fair value of credit derivatives(5,400,000) (5,900,000) 
Total Revenues(5,400,000) (5,900,000) 
Expenses    
Loss and loss adjustment expenses(11,700,000)200,000(11,400,000)(5,200,000)
Total expenses(11,700,000)200,000(11,400,000)(5,200,000)
Income (loss) before income taxes6,300,000(200,000)5,500,0005,200,000
Provision (benefit) for income taxes    
Deferred2,200,000 1,900,0001,000,000
Total provision (benefit) for income taxes2,200,000 1,900,0001,000,000
Net income (loss)$ 4,100,000$ (200,000)$ 3,600,000$ 4,200,000