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Assumption of Insured Portfolio and Business Combinations (Tables)
 6 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Effects of Reinsurance
Effect of SGI Transaction

 
 
Commutation
 
Assumed
 
Total
 
 
(in millions)
Cash
 
$
20

 
$
343

 
$
363

 
 
 
 
 
 
 
Premiums receivable/payable, net of commissions
 
$
16

 
$
45

 
$
61

Unearned premium reserve, net
 
(56
)
 
(319
)
 
(375
)
Credit derivative liability, net
 
—

 
(68
)
 
(68
)
Other
 
2

 
(1
)
 
1

Impact to net assets (liabilities)
 
$
(38
)
 
$
(343
)
 
$
(381
)
 
 
 
 
 
 
 
Commutation loss
 
$
18

 
$
—

 
$
18

Effect of Reinsurance on Statement of Operations

 
Second Quarter
 
Six Months
 
2018
 
2017
 
2018
 
2017
 
(in millions)
Premiums Written:
 
 
 
 
 
 
 
Direct
$
62

 
$
72

 
$
135

 
$
181

Assumed
331

 
7

 
331

 
9

Ceded (1)
24

 
(1
)
 
13

 
10

Net
$
417

 
$
78

 
$
479

 
$
200

Premiums Earned:
 
 
 
 
 
 
 
Direct
$
130

 
$
163

 
$
273

 
$
330

Assumed
9

 
8

 
14

 
14

Ceded
(3
)
 
(9
)
 
(6
)
 
(18
)
Net
$
136

 
$
162

 
$
281

 
$
326

Loss and LAE:
 
 
 
 
 
 
 
Direct
$
49

 
$
79

 
$
35

 
$
146

Assumed
(5
)
 
(3
)
 
(8
)
 
0

Ceded
0

 
(4
)
 
(1
)
 
(15
)
Net
$
44

 
$
72

 
$
26

 
$
131

 ____________________
(1)    Positive ceded premiums written were due to commutations and changes in expected debt service schedules.