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Consolidation of Variable Interest Entities (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2013
Dec. 31, 2012
Consolidation of Variable Interest Entities [abstract]    
Number of Consolidated FG VIE's
Number of FG VIE's Consolidated

 
As of
March 31, 2013
 
As of
December 31, 2012
 
 
Beginning of the period
33

 
33

Consolidated(1)
11

 
2

Matured
(1
)
 
(2
)
End of the period
43

 
33

____________________
(1)
Net loss on consolidation was $0.5 million in First Quarter 2013 and $6 million in 2012 and recorded in “fair value gains (losses) on FG VIEs” in the consolidated statement of operations.
  
Consolidated FG VIEs By Type of Collateral  
Consolidated FG VIEs
By Type of Collateral 

 
As of March 31, 2013
 
As of December 31, 2012
 
Number of
FG VIEs
 
Assets
 
Liabilities
 
Number of
FG VIEs
 
Assets
 
Liabilities
 
(dollars in millions)
With recourse:
 

 
 

 
 

 
 

 
 

 
 

HELOCs
8

 
$
582

 
$
764

 
8

 
$
525

 
$
786

First liens:
 

 
 

 
 

 
 

 
 

 
 

Alt-A first lien
5

 
178

 
168

 
5

 
177

 
162

Option ARM
2

 
41

 
158

 
2

 
42

 
170

Subprime
18

 
415

 
502

 
7

 
399

 
493

Closed-end second lien
8

 
103

 
126

 
8

 
108

 
129

Automobile loans
1

 
17

 
17

 
2

 
39

 
39

Life insurance
1

 
336

 
336

 
1

 
311

 
311

Total with recourse
43

 
1,672

 
2,071

 
33

 
1,601

 
2,090

Without recourse
—

 
1,141

 
1,107

 
—

 
1,087

 
1,051

Total
43

 
$
2,813

 
$
3,178

 
33

 
$
2,688

 
$
3,141
Gross Par Outstanding for FG VIEs Liabilities With Recourse
Unpaid Principal for FG VIEs’ Liabilities
with Recourse 

 
As of
March 31, 2013
 
As of
December 31, 2012
 
(in millions)
Gross unpaid principal for FG VIEs’ liabilities with recourse (1)
$
2,707

 
$
2,808

  
Effect of Consolidating FG VIEs on Net Income and Shareholder's Equity
Effect of Consolidating FG VIEs on Net Income
and Shareholders’ Equity
 
 
First Quarter
 
2013
 
2012
 
(in millions)
Net earned premiums
$
(18
)
 
$
(17
)
Net investment income
(3
)
 
(3
)
Net realized investment gains (losses)
1

 
1

Fair value gains (losses) on FG VIEs
70

 
(41
)
Loss and LAE
(7
)
 
8

Total pretax effect on net income
43

 
(52
)
Less: tax provision (benefit)
15

 
(18
)
Total effect on net income (loss)
$
28

 
$
(34
)
 

 
As of
March 31, 2013
 
As of
December 31, 2012
 
(in millions)
Total (decrease) increase on shareholders’ equity
$
(322
)
 
$
(348
)