Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $9,972 and $9,488)	$ 10,491	$ 9,711
Short-term investments, at fair value	767	904
Other invested assets	126	170
Total investment portfolio	11,384	10,785
Cash	75	184
Premiums receivable, net of commissions payable	729	876
Ceded unearned premium reserve	381	452
Deferred acquisition costs	121	124
Reinsurance recoverable on unpaid losses	78	36
Salvage and subrogation recoverable	151	174
Credit derivative assets	68	94
Deferred tax asset, net	260	688
Financial guaranty variable interest entities’ assets, at fair value	1,402	2,565
Other assets	276	309
Total assets	14,925	16,287
Liabilities and shareholders’ equity
Unearned premium reserve	4,261	4,595
Loss and loss adjustment expense reserve	799	592
Reinsurance balances payable, net	107	148
Long-term debt	1,303	816
Credit derivative liabilities	963	1,787
Current income tax payable	5	44
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	1,277	1,790
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	142	1,081
Other liabilities	310	319
Total liabilities	9,167	11,172
Commitments and contingencies
Common stock ($0.01 par value, 500,000,000 shares authorized; 158,306,661 and 182,177,866 shares issued and outstanding)	2	2
Additional paid-in capital	1,887	2,466
Retained earnings	3,494	2,482
Accumulated other comprehensive income, net of tax of $159 and $71	370	160
Deferred equity compensation (320,193 and 320,193 shares)	5	5
Total shareholders’ equity	5,758	5,115
Total liabilities and shareholders’ equity	$ 14,925	$ 16,287