Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $9,488 and $9,346)	$ 9,711		$ 10,056
Short-term investments, at fair value	904		817
Other invested assets	170		212
Total investment portfolio	10,785		11,085
Cash	184		138
Premiums receivable, net of commissions payable	876	[1]	1,005	[1]
Ceded unearned premium reserve	452		561
Deferred acquisition costs	124		116
Reinsurance recoverable on unpaid losses	36		58
Salvage and subrogation recoverable	174		456
Credit derivative assets	94		141
Deferred tax asset, net	688		721
Financial guaranty variable interest entities’ assets, at fair value	2,565		2,688
Other assets	309		273
Total assets	16,287		17,242
Liabilities and shareholders’ equity
Unearned premium reserve	4,595		5,207
Loss and loss adjustment expense reserve	592		601
Reinsurance balances payable, net	148		219
Long-term debt	816		836
Credit derivative liabilities	1,787		1,934
Current income tax payable	44		0
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	1,790		2,090
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	1,081		1,051
Other liabilities	319		310
Total liabilities	11,172		12,248
Commitments and contingencies (See Note 16)
Common stock ($0.01 par value, 500,000,000 shares authorized; 182,177,866 and 194,003,297 shares issued and outstanding)	2		2
Additional paid-in capital	2,466		2,724
Retained earnings	2,482		1,749
Accumulated other comprehensive income, net of tax of $71 and $198	160		515
Deferred equity compensation (320,193 and 320,193 shares)	5		4
Total shareholders’ equity	5,115		4,994
Total liabilities and shareholders’ equity	$ 16,287		$ 17,242

[1] Excludes $21 million, $29 million and $28 million as of December 31, 2013 , 2012 and 2011, respectively, related to consolidated FG VIEs.