Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Net earned premiums	$ 219	$ 136	$ 361	$ 268
Net investment income	98	96	199	199
Net realized investment gains (losses):
Other-than-temporary impairment losses	(11)	(27)	(16)	(30)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	1	(15)	3	(13)
Net impairment loss	(12)	(12)	(19)	(17)
Other net realized investment gains (losses)	3	4	26	11
Net realized investment gains (losses)	(9)	(8)	7	(6)
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	8	15	29	34
Net unrealized gains (losses)	82	88	185	(142)
Net change in fair value of credit derivatives	90	103	214	(108)
Fair value gains (losses) on committed capital securities	23	(6)	25	(15)
Fair value gains (losses) on financial guaranty variable interest entities	5	25	(2)	182
Bargain purchase gain and settlement of pre-existing relationships	214	0	214	0
Other income (loss)	55	7	46	28
Total revenues	695	353	1,064	548
Expenses
Loss and loss adjustment expenses	188	57	206	98
Amortization of deferred acquisition costs	6	3	10	8
Interest expense	26	20	51	40
Other operating expenses	66	55	122	115
Total expenses	286	135	389	261
Income (loss) before income taxes	409	218	675	287
Provision (benefit) for income taxes
Current	24	18	37	39
Deferred	88	41	140	47
Total provision (benefit) for income taxes	112	59	177	86
Net income (loss)	$ 297	$ 159	$ 498	$ 201
Earnings per share:
Basic (in dollars per share)	$ 1.97	$ 0.89	$ 3.25	$ 1.12
Diluted (in dollars per share)	1.96	0.89	3.23	1.11
Dividends (in dollars per share)	$ 0.12	$ 0.11	$ 0.24	$ 0.22