Consolidated Statements of Operations (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Net earned premiums	$ 164	$ 183
Net investment income	122	99
Net realized investment gains (losses):
Other-than-temporary impairment losses	(1)	(20)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	8	(4)
Net impairment loss	(9)	(16)
Other net realized investment gains (losses)	41	3
Net realized investment gains (losses)	32	(13)
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	15	8
Net unrealized gains (losses)	39	(68)
Net change in fair value of credit derivatives	54	(60)
Fair value gains (losses) on committed capital securities	(2)	(16)
Fair value gains (losses) on financial guaranty variable interest entities	10	18
Bargain purchase gain and settlement of pre-existing relationships	58	0
Other income (loss)	89	34
Total revenues	527	245
Expenses
Loss and loss adjustment expenses	59	90
Amortization of deferred acquisition costs	4	4
Interest expense	24	26
Other operating expenses	68	60
Total expenses	155	180
Income (loss) before income taxes	372	65
Provision (benefit) for income taxes
Current	51	30
Deferred	4	(24)
Total provision (benefit) for income taxes	55	6
Net income (loss)	$ 317	$ 59
Earnings per share:
Basic (in dollars per share)	$ 2.53	$ 0.43
Diluted (in dollars per share)	2.49	0.43
Dividends (in dollars per share)	$ 0.1425	$ 0.1300