Consolidated Statements of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
Revenues
Net earned premiums	$ 853	[1]	$ 920	[1]	$ 1,187	[1]
Net investment income	404		396		361
Other-than-temporary impairment losses
Other-than-temporary impairment losses	(58)		(84)		(44)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	(41)		(39)		(17)
Other net realized investment gains (losses)	18		27		25
Net realized investment gains (losses)	1		(18)		(2)
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	(108)		6		153
Net unrealized gains (losses)	(477)		554		(155)
Net change in fair value of credit derivatives	(585)		560		(2)
Fair value gains (losses) on committed capital securities	(18)		35		9
Fair value gains (losses) on financial guaranty variable interest entities	210	[2]	(132)	[2]	(274)	[2]
Other income	108		58		34
Total revenues	973		1,819		1,313
Expenses
Loss and loss adjustment expenses	523		462		412
Amortization of deferred acquisition costs	14		17		22
Assured Guaranty Municipal Holdings Inc. acquisition-related expenses	0		0		7
Interest expense	92		99		100
Other operating expenses	212		212		238
Total expenses	841		790		779
Income (loss) before income taxes	132		1,029		534
Provision (benefit) for income taxes
Current	57		(127)		(25)
Deferred	(35)		383		75
Total provision (benefit) for income taxes	22		256		50
Net income (loss)	$ 110		$ 773		$ 484
Earnings per share:
Basic (per share)	$ 0.58	[3]	$ 4.21	[3]	$ 2.63
Diluted (per share)	$ 0.57	[3]	$ 4.16	[3]	$ 2.56
Dividends per share	$ 0.36	[3]	$ 0.18	[3]	$ 0.18

[1] Excludes $153 million, $75 million and $48 million for the year ended December 31, 2012, 2011 and 2010, respectively, related to consolidated FG VIEs.

[2]

[3] Per share amounts for the quarters and the full years have each been calculated separately. Accordingly, quarterly amounts may not sum up to the annual amounts because of differences in the average common shares outstanding during each period and, with regard to diluted per share amounts only, because of the inclusion of the effect of potentially dilutive securities only in the periods in which such effect would have been dilutive.