Consolidated Statements of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Revenues
Net earned premiums	$ 222	$ 211	$ 635	$ 695
Net investment income	102	95	301	295
Net realized investment gains (losses):
Other-than-temporary impairment losses	(4)	(33)	(41)	(67)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	0	(17)	(30)	(35)
Other net realized investment gains (losses)	6	5	11	19
Net realized investment gains (losses)	2	(11)	0	(13)
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	2	0	(78)	25
Unrealized Gains (Losses)	(38)	1,156	(388)	830
Net change in fair value of credit derivatives	(36)	1,156	(466)	855
Fair value gain (loss) on committed capital securities	(2)	2	(12)	3
Fair value gains (losses) on financial guaranty variable interest entities	38	(99)	174	(154)
Other income	16	(9)	112	59
Total revenues	342	1,345	744	1,740
Expenses
Loss and loss adjustment expenses	90	215	459	313
Amortization of deferred acquisition costs	4	4	14	13
Interest expense	21	25	71	74
Other operating expenses	48	46	163	163
Total expenses	163	290	707	563
Income (loss) before income taxes	179	1,055	37	1,177
Provision (benefit) for income taxes
Current	(9)	(13)	(9)	(200)
Deferred	46	307	10	520
Total provision (benefit) for income taxes	37	294	1	320
Net income (loss)	$ 142	$ 761	$ 36	$ 857
Earnings per share:
Basic (in dollars per share)	$ 0.73	$ 4.15	$ 0.19	$ 4.66
Diluted (in dollars per share)	$ 0.73	$ 4.13	$ 0.19	$ 4.60
Dividends per share	$ 0.09	$ 0.045	$ 0.27	$ 0.135