Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015		Dec. 31, 2014
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,275 and $9,972)	$ 10,627		$ 10,491
Short-term investments, at fair value	396		767
Other invested assets	169		126
Total investment portfolio	11,192		11,384
Cash	166		75
Premiums receivable, net of commissions payable	693		729
Ceded unearned premium reserve	232		381
Deferred acquisition costs	114		121
Reinsurance recoverable on unpaid losses	69		78
Salvage and subrogation recoverable	126		151
Credit derivative assets	81		68
Deferred tax asset, net	276		260
Current income tax receivable	40		0
Financial guaranty variable interest entities’ assets, at fair value	1,261	[1]	1,402
Other assets	294		270
Total assets	14,544		14,919
Liabilities and shareholders’ equity
Unearned premium reserve	3,996		4,261
Loss and loss adjustment expense reserve	1,067		799
Reinsurance balances payable, net	51		107
Long-term debt	1,300		1,297
Credit derivative liabilities	446		963
Current income tax payable	0		5
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	1,225	[1]	1,277
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	124	[1]	142
Other liabilities	272		310
Total liabilities	$ 8,481		$ 9,161
Commitments and contingencies
Common stock ($0.01 par value, 500,000,000 shares authorized; 137,928,552 and 158,306,661 shares issued and outstanding)	$ 1		$ 2
Additional paid-in capital	1,342		1,887
Retained earnings	4,478		3,494
Accumulated other comprehensive income, net of tax of $104 and $159	237		370
Deferred equity compensation (320,193 and 320,193 shares)	5		5
Total shareholders’ equity	6,063		5,758
Total liabilities and shareholders’ equity	$ 14,544		$ 14,919

[1] The December 31, 2015 amounts include $111 million of FG VIE assets and $107 million of FG VIE liabilities acquired from Radian Asset.