Consolidated Statements of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013		Mar. 31, 2012
Revenues
Net earned premiums	$ 248	[1]	$ 194	[1]
Net investment income	94		98
Net realized investment gains (losses):
Other-than-temporary impairment losses	(1)		(28)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	4		(23)
Other net realized investment gains (losses)	33		6
Net realized investment gains (losses)	28		1
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	18		(57)
Net unrealized gains (losses)	(610)		(634)
Net change in fair value of credit derivatives	(592)		(691)
Fair value gains (losses) on committed capital securities	(10)		(14)
Fair value gains (losses) on financial guaranty variable interest entities	70		(41)
Other income	(14)		91
Total revenues	(176)		(362)
Expenses
Loss and loss adjustment expenses	(48)		242
Amortization of deferred acquisition costs	3		5
Interest expense	21		25
Other operating expenses	60		62
Total expenses	36		334
Income (loss) before income taxes	(212)		(696)
Provision (benefit) for income taxes
Current	55		29
Deferred	(123)		(242)
Total provision (benefit) for income taxes	(68)		(213)
Net income (loss)	$ (144)		$ (483)
Earnings per share:
Basic (per share)	$ (0.74)		$ (2.65)
Diluted (per share)	$ (0.74)		$ (2.65)
Dividends per share	$ 0.10		$ 0.090

[1] Excludes $18 million and $17 million for First Quarter 2013 and 2012, respectively, related to consolidated FG VIEs.