Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Jun. 30, 2014		Dec. 31, 2013
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,078 and $9,488)	$ 10,530		$ 9,711
Short-term investments, at fair value	979		904
Other invested assets	126		170
Total investment portfolio	11,635		10,785
Cash	106		184
Premiums receivable, net of commissions payable	849	[1]	876
Ceded unearned premium reserve	440		452
Deferred acquisition costs	122		124
Reinsurance recoverable on unpaid losses	59		36
Salvage and subrogation recoverable	273		174
Credit derivative assets	80		94
Deferred tax asset, net	571		688
Financial guaranty variable interest entities’ assets, at fair value	1,284		2,565
Other assets	271		309
Total assets	15,690		16,287
Liabilities and shareholders’ equity
Unearned premium reserve	4,391		4,595
Loss and loss adjustment expense reserve	775		592
Reinsurance balances payable, net	178		148
Long-term debt	1,311		816
Credit derivative liabilities	1,917		1,787
Current income tax payable	12		44
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	1,366		1,790
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	124		1,081
Other liabilities	374		319
Total liabilities	10,448		11,172
Commitments and contingencies (See Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 174,155,033 and 182,177,866 shares issued and outstanding)	2		2
Additional paid-in capital	2,260		2,466
Retained earnings	2,643		2,482
Accumulated other comprehensive income, net of tax of $143 and $71	332		160
Deferred equity compensation (320,193 and 320,193 shares)	5		5
Total shareholders’ equity	5,242		5,115
Total liabilities and shareholders’ equity	$ 15,690		$ 16,287

[1] Excludes $18 million and $20 million as of June 30, 2014 and June 30, 2013, respectively, related to consolidated FG VIEs.