Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Net earned premiums	$ 548	$ 690	$ 864
Net investment income	398	418	408
Net realized investment gains (losses)	(32)	40	(29)
Net change in fair value of credit derivatives	112	111	98
Fair value gains (losses) on financial guaranty variable interest entities	14	30	38
Bargain purchase gain and settlement of pre-existing relationships	0	58	259
Commutation gains (losses)	(16)	328	8
Other income (loss)	(22)	64	31
Total revenues	1,002	1,739	1,677
Expenses
Loss and loss adjustment expenses	64	388	295
Amortization of deferred acquisition costs	16	19	18
Interest expense	94	97	102
Other operating expenses	248	244	245
Total expenses	422	748	660
Income (loss) before income taxes	580	991	1,017
Provision (benefit) for income taxes
Current	(15)	11	117
Deferred	74	250	19
Total provision (benefit) for income taxes	59	261	136
Net income (loss)	$ 521	$ 730	$ 881
Earnings per share:
Basic (in dollars per share)	$ 4.73	$ 6.05	$ 6.61
Diluted (in dollars per share)	$ 4.68	$ 5.96	$ 6.56