Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $8,410 and $8,371, allowance for credit loss of $73 at March 31, 2020)	$ 8,568	$ 8,854
Short-term investments at fair value	933	1,268
Other invested assets (includes $12 and $6 measured at fair value)	121	118
Total investment portfolio	9,622	10,240
Cash	139	169
Premiums receivable, net of commissions payable	1,233	1,286
Deferred acquisition costs	113	111
Salvage and subrogation recoverable	820	747
Financial Guaranty Of Variable Interest Entities, Assets Held	368	442
Assets of consolidated investment vehicles (includes $557 and $558 measured at fair value)	645	572
Goodwill and other intangible assets	212	216
Other assets (includes $177 and $135 measured at fair value)	593	543
Total assets	13,745	14,326
Liabilities and shareholders’ equity
Unearned premium reserve	3,706	3,736
Loss and loss adjustment expense reserve	1,050	1,050
Long-term debt	1,221	1,235
Credit derivative liabilities, at fair value	265	191
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	312	367
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	82	102
Liabilities of consolidated investment vehicles (includes $426 and $481 measured at fair value)	431	482
Other liabilities	405	511
Total liabilities	7,472	7,674
Commitments and contingencies (see Note 14)
Redeemable noncontrolling interests in consolidated investment vehicles	8	7
Common stock ($0.01 par value, 500,000,000 shares authorized; 89,983,322 and 93,274,987 shares issued and outstanding)	1	1
Retained earnings	6,100	6,295
Accumulated other comprehensive income, net of tax of $34 and $71	138	342
Deferred equity compensation	1	1
Total shareholders’ equity attributable to Assured Guaranty Ltd.	6,240	6,639
Nonredeemable noncontrolling interests	25	6
Total shareholders’ equity	6,265	6,645
Total liabilities, redeemable noncontrolling interests and shareholders’ equity	$ 13,745	$ 14,326