Consolidated Statements of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2013		Jun. 30, 2012		Jun. 30, 2013		Jun. 30, 2012
Revenues
Net earned premiums	$ 163	[1]	$ 219	[1]	$ 411	[1]	$ 413	[1]
Net investment income	93		101		187		199
Net realized investment gains (losses):
Other-than-temporary impairment losses	(16)		(9)		(17)		(37)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	(9)		(7)		(5)		(30)
Other net realized investment gains (losses)	9		(1)		42		5
Net realized investment gains (losses)	2		(3)		30		(2)
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	(86)		(23)		(68)		(80)
Net unrealized gains (losses)	160		284		(450)		(350)
Net change in fair value of credit derivatives	74		261		(518)		(430)
Fair value gains (losses) on committed capital securities	(3)		4		(13)		(10)
Fair value gains (losses) on financial guaranty variable interest entities	143		168		213		127
Other income	(7)		5		(21)		96
Total revenues	465		755		289		393
Expenses
Loss and loss adjustment expenses	62		118		14		360
Amortization of deferred acquisition costs	1		5		4		10
Interest expense	21		25		42		50
Other operating expenses	52		53		112		115
Total expenses	136		201		172		535
Income (loss) before income taxes	329		554		117		(142)
Provision (benefit) for income taxes
Current	3		(29)		58		0
Deferred	107		206		(16)		(36)
Total provision (benefit) for income taxes	110		177		42		(36)
Net income (loss)	$ 219		$ 377		$ 75		$ (106)
Earnings per share:
Basic (per share)	$ 1.17		$ 2.02		$ 0.39		$ (0.58)
Diluted (per share)	$ 1.16		$ 2.01		$ 0.39		$ (0.58)
Dividends per share	$ 0.1		$ 0.09		$ 0.2		$ 0.18

[1] Excludes $15 million and $16 million for Second Quarter 2013 and 2012, respectively, and $33 million and $33 million for the Six Months 2013 and 2012, respectively, related to consolidated FG VIEs.