Consolidated Statements of Operations (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016		Mar. 31, 2015
Revenues
Net earned premiums	$ 183	[1]	$ 142
Net investment income	99		101
Net realized investment gains (losses):
Other-than-temporary impairment losses	(20)		(5)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	(4)		2
Net impairment loss	(16)		(7)
Other net realized investment gains (losses)	3		23
Net realized investment gains (losses)	(13)		16
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	8		21
Net unrealized gains (losses)	(68)		103
Net change in fair value of credit derivatives	(60)		124
Fair value gains (losses) on committed capital securities	(16)		2
Fair value gains (losses) on financial guaranty variable interest entities	18		(7)
Other income (loss)	34		(9)
Total revenues	245		369
Expenses
Loss and loss adjustment expenses	90		18
Amortization of deferred acquisition costs	4		4
Interest expense	26		25
Other operating expenses	60		56
Total expenses	180		103
Income (loss) before income taxes	65		266
Provision (benefit) for income taxes
Current	30		13
Deferred	(24)		52
Total provision (benefit) for income taxes	6		65
Net income (loss)	$ 59		$ 201
Earnings per share:
Basic (in dollars per share)	$ 0.43		$ 1.29
Diluted (in dollars per share)	0.43		1.28
Dividends (in dollars per share)	$ 0.13		$ 0.12

[1] Excludes $5 million and $5 million for First Quarter 2016 and 2015, respectively, related to consolidated FG VIEs.