Consolidated Statements of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Revenues
Net earned premiums	$ 159	[1]	$ 222	[1]	$ 570	[1]	$ 635	[1]
Net investment income	99		102		286		301
Net realized investment gains (losses):
Other-than-temporary impairment losses	(3)		(4)		(20)		(41)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income	5		0		0		(30)
Other net realized investment gains (losses)	1		6		43		11
Net realized investment gains (losses)	(7)		2		23		0
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements	24		2		(44)		(78)
Net unrealized gains (losses)	330		(38)		(120)		(388)
Net change in fair value of credit derivatives	354		(36)		(164)		(466)
Fair value gains (losses) on committed capital securities	9		(2)		(4)		(12)
Fair value gains (losses) on financial guaranty variable interest entities	40		34		253		161
Other income	16		16		(5)		112
Total revenues	670		338		959		731
Expenses
Loss and loss adjustment expenses	55		86		69		446
Amortization of deferred acquisition costs	4		4		8		14
Interest expense	21		21		63		71
Other operating expenses	54		48		166		163
Total expenses	134		159		306		694
Income (loss) before income taxes	536		179		653		37
Provision (benefit) for income taxes
Current	67		(9)		125		(9)
Deferred	85		46		69		10
Total provision (benefit) for income taxes	152		37		194		1
Net income (loss)	$ 384		$ 142		$ 459		$ 36
Earnings per share:
Basic (per share)	$ 2.10		$ 0.73		$ 2.44		$ 0.19
Diluted (per share)	$ 2.09		$ 0.73		$ 2.43		$ 0.19
Dividends per share	$ 0.1		$ 0.09		$ 0.3		$ 0.27

[1] Excludes $14 million and $17 million for Third Quarter 2013 and 2012, respectively, and $47 million and $50 million for the Nine Months 2013 and 2012, respectively, related to consolidated FG VIEs.