Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Jun. 30, 2013		Dec. 31, 2012
Investment portfolio:
Fixed maturity securities, available-for-sale, at fair value (amortized cost of $9,267 and $9,346)	$ 9,564		$ 10,056
Short term investments, at fair value	943		817
Other invested assets	130		212
Total investment portfolio	10,637		11,085
Cash	143		138
Premiums receivable, net of ceding commissions payable	915	[1]	1,005
Ceded unearned premium reserve	510		561
Deferred acquisition costs	125		116
Reinsurance recoverable on unpaid losses	60		58
Salvage and subrogation recoverable	331		456
Credit derivative assets	101		141
Deferred tax asset, net	850		721
Financial guaranty variable interest entities’ assets, at fair value	2,674		2,688
Other assets	262		273
Total assets	16,608		17,242
Liabilities and shareholders’ equity
Unearned premium reserve	4,812		5,207
Loss and loss adjustment expense reserve	564		601
Reinsurance balances payable, net	188		219
Long-term debt	827		836
Credit derivative liabilities	2,349		1,934
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	1,940		2,090
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	1,134		1,051
Other liabilities	310		310
Total liabilities	12,124		12,248
Commitments and contingencies (See Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 182,901,083 and 194,003,297 shares issued and outstanding)	2		2
Additional paid-in capital	2,483		2,724
Retained earnings	1,786		1,749
Accumulated other comprehensive income, net of tax of $83 and $198	209		515
Deferred equity compensation (320,193 and 320,193 shares)	4		4
Total shareholders’ equity	4,484		4,994
Total liabilities and shareholders’ equity	$ 16,608		$ 17,242

[1] Excludes $20 million and $32 million as of June 30, 2013 and June 30, 2012, respectively, related to consolidated FG VIEs.