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Quarterly Financial Information (Unaudited) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
0 Months Ended 3 Months Ended 12 Months Ended
Feb. 07, 2013
Feb. 09, 2012
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues                          
Net earned premiums     $ 182 $ 159 $ 163 $ 248 $ 218 $ 222 $ 219 $ 194 $ 752 [1] $ 853 [1] $ 920 [1]
Net investment income     107 99 93 94 103 102 101 98 393 404 396
Net realized investment gains (losses)     29 (7) 2 28 1 2 (3) 1 52 1 (18)
Net change in fair value of credit derivatives     229 354 74 (592) (119) (36) 261 (691) 65 (585) 560
Fair value gains (losses) on CCS     14 9 (3) (10) (6) (2) 4 (14) 10 (18) 35
Fair value gains (losses) on FG VIEs     93 40 143 70 30 34 168 (41) 346 191 (146)
Other income (loss)     (5) 16 (7) (14) (4) 16 5 91 (10) 108 58
Expenses                          
Loss and LAE     85 55 62 (48) 58 86 118 242 154 504 448
Amortization of DAC     4 4 1 3 0 4 5 5 12 14 17
Interest expense     19 21 21 21 21 21 25 25 82 92 99
Other operating expenses     52 54 52 60 49 48 53 62 218 212 212
Income (loss) before provision for income taxes     489 536 329 (212) 95 179 554 (696) 1,142 132 1,029
Provision (benefit) for income taxes     140 152 110 (68) 21 37 177 (213) 334 22 256
Net income (loss)     $ 349 $ 384 $ 219 $ (144) $ 74 $ 142 $ 377 $ (483) $ 808 $ 110 $ 773
Earnings (loss) per share, Basic (in dollars per share)     $ 1.91 [2] $ 2.10 [2] $ 1.17 [2] $ (0.74) [2] $ 0.38 [2] $ 0.73 [2] $ 2.02 [2] $ (2.65) [2] $ 4.32 [2] $ 0.58 [2] $ 4.21
Earnings (loss) per share, Diluted (in dollars per share)     $ 1.90 [2] $ 2.09 [2] $ 1.16 [2] $ (0.74) [2] $ 0.38 [2] $ 0.73 [2] $ 2.01 [2] $ (2.65) [2] $ 4.30 [2] $ 0.57 [2] $ 4.16
Dividends per share $ 0.10 $ 0.09 $ 0.10 [2] $ 0.10 [2] $ 0.10 [2] $ 0.10 [2] $ 0.09 [2] $ 0.09 [2] $ 0.09 [2] $ 0.09 [2] $ 0.40 [2] $ 0.36 [2] $ 0.18
[1] Excludes $60 million, $153 million and $75 million for the year ended December 31, 2013, 2012 and 2011, respectively, related to consolidated FG VIEs.
[2] 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.