Insurance In Force (Tables)

12 Months Ended

Dec. 31, 2013

Insurance in Force [Abstract]

Insurance in force by geographic location

		As of December 31,
In billions		2013			2012
				% of			% of
		Insurance		Insurance	Insurance		Insurance
Geographic Location		in Force		in Force	in Force		in Force
California		$	88.7	16.0%	$	104.7	15.4%
New York			38.1	6.9%		48.7	7.2%
Illinois			29.6	5.3%		33.3	4.9%
Florida			29.2	5.3%		36.8	5.4%
Texas			28.0	5.0%		33.9	5.0%
New Jersey			20.2	3.6%		24.1	3.6%
Michigan			15.3	2.8%		17.6	2.6%
Pennsylvania			11.8	2.1%		14.5	2.1%
Washington			11.5	2.1%		15.9	2.3%
Puerto Rico			10.9	2.0%		9.1	1.4%
	Subtotal		283.3	51.1%		338.6	49.9%
Nationally diversified			53.6	9.7%		80.0	11.8%
Other states			155.8	28.1%		185.7	27.3%
	Total United States		492.7	88.9%		604.3	89.0%
Internationally diversified			12.8	2.3%		18.9	2.8%
Country specific			48.8	8.8%		55.9	8.2%
	Total non-United States		61.6	11.1%		74.8	11.0%
Total		$	554.3	100.0%	$	679.1	100.0%

Insurance in force by bond type

					As of December 31,
In billions					2013			2012
							% of			% of
					Insurance		Insurance	Insurance		Insurance
Bond type					in Force		in Force	in Force		in Force
Global public finance¾United States:
	General obligation				$	153.5	27.7%	$	187.5	27.6%
	General obligation¾lease					34.1	6.2%		41.7	6.1%
	Municipal utilities					78.0	14.1%		97.1	14.3%
	Tax-backed					66.1	11.9%		71.9	10.6%
	Transportation					46.2	8.3%		52.1	7.7%
	Higher education					24.1	4.3%		30.3	4.5%
	Health care					9.5	1.7%		12.1	1.8%
	Military housing					19.2	3.5%		19.0	2.8%
	Investor-owned utilities (1)					7.2	1.3%		8.7	1.3%
	Municipal housing					4.8	0.9%		7.2	1.0%
	Student loans					0.6	0.1%		0.7	0.1%
	Other (2)					2.4	0.4%		2.6	0.4%
			Total United States			445.7	80.4%		530.9	78.2%
Global public finance¾non-United States:
		International utilities				15.9	2.9%		16.2	2.4%
		Sovereign-related and sub-sovereign (3)				17.3	3.1%		18.4	2.7%
		Transportation				12.2	2.2%		14.2	2.1%
		Local governments (4)				0.4	0.1%		0.5	0.1%
		Health care				0.0	0.0%		0.1	0.0%
		Tax-backed				0.2	0.0%		0.2	0.0%
			Total non-United States			46.0	8.3%		49.6	7.3%
				Total global public finance		491.7	88.7%		580.5	85.5%
Global structured finance:
	Collateralized debt obligations (5)					31.7	5.7%		57.6	8.5%
	Mortgage-backed residential					12.4	2.2%		17.1	2.5%
	Mortgage-backed commercial					1.6	0.3%		3.8	0.6%
	Consumer asset-backed:
		Student loans				1.1	0.2%		1.2	0.2%
		Manufactured housing				1.7	0.3%		2.0	0.3%
		Other consumer asset-backed				0.0	0.0%		0.1	0.0%
	Corporate asset-backed:
		Operating assets:
			Aircraft portfolio lease securitizations			1.8	0.3%		2.5	0.4%
			Secured airline equipment securitizations			1.8	0.3%		2.4	0.3%
			Other operating assets			0.2	0.1%		0.5	0.1%
		Structured insurance securitizations				5.5	1.0%		6.1	0.9%
		Franchise assets				0.8	0.2%		0.9	0.1%
		Future flow				0.1	0.0%		0.2	0.0%
		Other corporate asset-backed				3.9	0.7%		4.2	0.6%
				Total global structured finance		62.6	11.3%		98.6	14.5%
				Total	$	554.3	100.0%	$	679.1	100.0%
___________________
(1) - Includes investor owned utilities, industrial development and pollution control revenue bonds.
(2) - Includes certain non-profit enterprises and stadium related financing.
(3) - Includes regions, departments or their equivalent in each jurisdiction as well as sovereign owned entities that are supported by a sovereign state, region or department.
(4) - Includes municipal owned entities backed by sponsoring local government.
(5) - Includes transactions (represented by structured pools of primarily investment grade corporate credit risks or CRE assets) that do not include typical CDO structuring
	characteristics, such as tranched credit risk, cash flow waterfalls, or interest and over-collateralization coverage tests.

Reinsurance agreements for insurance operations

In millions
	Standard &				Letters of
	Poor's Rating	Moody's Rating	Ceded Par		Credit/ Trust		Reinsurance
Reinsurers	(Status)	(Status)	Outstanding		Accounts		Recoverable (1)
Assured Guaranty Re Ltd.	AA-	Baa1	$	4,052	$	30	$	-
	(Stable Outlook)	(Stable Outlook)
Assured Guaranty Corp.	AA-	A3		2,630		-		8
	(Stable Outlook)	(Stable Outlook)
Overseas Private	AA+	Aaa		324		-		-
Investment Corporation	(Stable Outlook)	(Stable Outlook)
Others	A+ or above	A2 or above		126		2		-
Total			$	7,132	$	32	$	8
_______________
(1) - Total reinsurance recoverable is primarily related to recoverables on unpaid losses.

Financial guarantee net premiums earned

			Years ended December 31,
In millions			2013		2012		2011
Net premiums earned:
	Direct		$	400	$	489	$	505
	Assumed			67		130		112
		Gross		467		619		617
	Ceded			(10)		(14)		(12)
		Net	$	457	$	605	$	605