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Investment Income And Gains And Losses (Tables)
 12 Months Ended
Dec. 31, 2011
Investment Income And Gains And Losses [Abstract]  
Total Investment Income From All Operations

 

     Years ended December 31,  

In millions

    2011     2010     2009  

Net investment income

       

Fixed-maturity

    $ 357      $ 407      $ 511   

Held-to-maturity

      6        7        9   

Short-term investments

      6        22        21   

Other investments

      19        22        32   

Consolidated VIEs

      69        73        89   
  

 

 

    

 

 

    

 

 

  

Gross investment income

      457        531        662   

Investment expenses

      4        1        6   
  

 

 

    

 

 

    

 

 

  

Net investment income

      453        530        656   

Realized gains and losses

       

Fixed-maturity

       

Gains(1)

     252         112        160   

Losses

      (224 )      (112 )      (447 ) 
  

 

 

    

 

 

    

 

 

  

Net

      28        —          (287 ) 

Other investments

       

Gains

      12        —          28   

Losses

      (10 )      (1 )      (124 ) 
  

 

 

    

 

 

    

 

 

  

Net

      2        (1 )      (96 ) 

Consolidated VIEs

       

Gains

      —          —          12   

Losses

      —          —          (109 ) 
  

 

 

    

 

 

    

 

 

  

Net

      —          —          (97 ) 
  

 

 

    

 

 

    

 

 

  

Total net realized gains (losses)(2)

     30        (1 )      (480 ) 
  

 

 

    

 

 

    

 

 

  

Total investment income

    $ 483      $ 529      $ 176   
  

 

 

    

 

 

    

 

 

  

(1)—Includes net trading gains of$9 million for the year ended December 31, 2011.

(2)—These balances are included in the "Net gains (losses) on financial instruments at fair value and foreign exchange" and "Net investment losses related to other-than-temporary impairments" line items on MBIA's consolidated statements of operations.
Credit Losses Recognized In Earnings Related To OTTI Losses For Which A Portion Is Recognized In Accumulated Other Comprehensive Income (Loss)

 

In millions    Years ended December 31,  

Credit Losses Recognized in Earnings Related to Other-Than-Temporary Impairments

        2011              2010              2009      

Beginning Balance

    $ 262       $ 389       $ —     

Credit losses recognized in retained earnings related to the adoption of accounting principles effective April 1, 2009(1)

     —           —           226   

Accounting transition adjustment(2)

     —           (149)         —     

Additions for credit loss impairments recognized in the current period on securities not previously impaired

      63         24         241   

Additions for credit loss impairments recognized in the current period on securities previously impaired

      31         18         14   

Additions for credit loss impairments recognized in prior periods for securities that were re-impaired with a non-credit component in the current period

      —           1         13   

Reductions for credit loss impairments previously recognized on securities sold during the period

      (15)         (16)         (102)   

Reductions for credit loss impairments previously recognized on securities impaired to fair value during the period(3)

     —           (4)         —     

Reductions for increases in cash flows expected to be collected over the remaining life of the security

      —           (1)         (3)   
  

 

 

     

 

 

     

 

 

  

Ending Balance

    $ 341       $ 262       $ 389   
  

 

 

     

 

 

     

 

 

  

(1)—Reflects the adoption of the accounting principles for recognition of other-than-temporary impairments.

(2)—Reflects the adoption of the accounting principles for the consolidation of VIEs.

(3)—Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security's amortized cost.
Significant Inputs Used In Measurement Of Credit Loss Component Recognized In Earnings For Each Significant Class Of ABS

 

     Years ended December 31,  

Asset-backed Securities

    2011     2010     2009  

Expected size of losses(1):

       

Range(2)

     2.48% to 100.00%        0.21% to 100.00%        0.00% to 100.00%   

Weighted average(3)

     55.40 %      52.20 %      38.44 % 

Current subordination levels(4):

       

Range(2)

     0.00% to 35.46%        0.00% to 42.16%        0.00% to 48.68%   

Weighted average(3)

     1.53 %      4.50 %     
9.75
 % 

Prepayment speed (annual CPR)(5):

       

Range(2)

     0.00 to 100.00        0.00 to 40.20        0.00 to 36.20   

Weighted average(3)

     12.67        9.45        6.98   

(1)—Represents future expected credit losses on impaired assets expressed as a percentage of total outstanding balance.

(2)—Represents the range of inputs/assumptions based upon the individual securities within each category.

(3)—Calculated by weighting the relevant input/assumption for each individual security by the outstanding notional of the security.

(4)—Represents current level of credit protection (subordination) for the securities, expressed as a percentage of the balance of the collateral group backing the bond.

(5)—Values represent high and low points of lifetime vectors of constant prepayment rates.

Net Unrealized Gains (Losses), Including Portion Of Other-Than-Temporary Impairments Included In Other Comprehensive Loss, Reported Within Shareholders' Equity
     As of December 31,  

In millions

            2011                     2010          

Fixed-maturity:

     

Gains

    $ 262      $ 208   

Losses

      (459 )      (782 ) 

Foreign exchange

      (5 )      (14 ) 
  

 

 

    

 

 

  

Net

      (202 )      (588 ) 

Other investments:

     

Gains

      1        10   

Losses

      (19 )      (22 ) 
  

 

 

    

 

 

  

Net

      (18 )      (12 ) 
  

 

 

    

 

 

  

Total

      (220 )      (600 ) 

Deferred income tax provision (benefit)

      (86 )      (208 ) 
  

 

 

    

 

 

  

Unrealized gains (losses), net

    $ (134 )    $ (392 ) 
  

 

 

    

 

 

  
Change In Net Unrealized Gains (Losses)

 

     As of December 31,  

In millions

            2011                     2010          

Fixed-maturity

    $ 386      $ 749   

Other investments

      (6 )      47   
  

 

 

    

 

 

  

Total

      380        796   

Deferred income tax charged (credited)

      122        213   
  

 

 

    

 

 

  

Change in unrealized gains (losses), net(1)

   $ 258      $ 583   
  

 

 

    

 

 

  

(1)—The annual change as of December 31, 2010 included $266 million of net unrealized gains due to the transition adjustment for the adoption of the accounting principles for consolidation of VIEs.