Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015		Dec. 31, 2014
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,229 and $9,972)	$ 10,582		$ 10,491
Short-term investments, at fair value	834		767
Other invested assets	215		126
Total investment portfolio	11,631		11,384
Cash	75		75
Premiums receivable, net of commissions payable	703		729
Ceded unearned premium reserve	282		381
Deferred acquisition costs	119		121
Reinsurance recoverable on unpaid losses	77		78
Salvage and subrogation recoverable	139		151
Credit derivative assets	81		68
Deferred tax asset, net	439		260
Current income tax receivable	11		0
Financial guaranty variable interest entities’ assets, at fair value	1,601	[1]	1,402
Other assets	321		276
Total assets	15,479		14,925
Liabilities and shareholders’ equity
Unearned premium reserve	4,389		4,261
Loss and loss adjustment expense reserve	996		799
Reinsurance balances payable, net	66		107
Long-term debt	1,305		1,303
Credit derivative liabilities	1,007		963
Current income tax payable	0		5
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	1,361	[1]	1,277
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	171	[1]	142
Other liabilities	378		310
Total liabilities	$ 9,673		$ 9,167
Commitments and contingencies (See Note 15)
Common stock ($0.01 par value, 500,000,000 shares authorized; 148,257,197 and 158,306,661 shares issued and outstanding)	$ 1		$ 2
Additional paid-in capital	1,606		1,887
Retained earnings	3,955		3,494
Accumulated other comprehensive income, net of tax of $102 and $159	239		370
Deferred equity compensation (320,193 and 320,193 shares)	5		5
Total shareholders’ equity	5,806		5,758
Total liabilities and shareholders’ equity	$ 15,479		$ 14,925

[1] nclude $119 million of FG VIE assets and $115 million of FG VIE liabilities acquired from Radian Asset.