Business Segments (Tables)

3 Months Ended

Mar. 31, 2014

Text Block [Abstract]

Summary of company's segment results

			Three Months Ended March 31, 2014
			U.S.		Structured
			Public		Finance and
			Finance		International		Advisory				Wind-down
In millions			Insurance		Insurance		Services		Corporate		Operations		Eliminations			Consolidated
Revenues(1)			$	88	$	34	$	3	$	8	$	9	$	-		$	142
Realized gains (losses) and other
	settlements on insured
Net change in fair value of
	insured derivatives			1		468		-		-		-		-			469
Net gains (losses) on financial
	instruments at fair value
	and foreign exchange			4		(3)		(4)		(14)		(38)		-			(55)
Net investment losses related
	to other-than-temporary
Net gains (losses) on
	extinguishment of debt			-		-		-		-		1		-			1
Other net realized gains (losses)				-		-		-		1		-		-			1
Revenues of consolidated VIEs				-		20		-		(5)		4		-			19
Inter-segment revenues(2)				12		12		6		16		(3)		(43)			-
		Total revenues		105		531		5		6		(27)		(43)			577
Losses and loss adjustment				(14)		64		-		-		-		-			50
Operating				9		16		11		20		-		-			56
Interest				-		27		-		9		18		-			54
Expenses of consolidated VIEs				-		13		-		-		-		-			13
Inter-segment expenses(2)				18		19		1		5		2		(45)			-
		Total expenses		13		139		12		34		20		(45)			173
Income (loss) before income taxes			$	92	$	392	$	(7)	$	(28)	$	(47)	$	2		$	404
Identifiable assets			$	6,124	$	10,875	$	34	$	1,233	$	1,548	$	(3,727)	(3)	$	16,087
________________
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements, investment management fees and
other fees.
(2) - Represents intercompany premium income and expense, intercompany asset management fees and expenses, and intercompany interest income and expense pertaining to
intercompany receivables and payables.
(3) - Consists of intercompany reinsurance balances, repurchase agreements and deferred income taxes.

			Three Months Ended March 31, 2013
			U.S.		Structured
			Public		Finance and
			Finance		International		Advisory				Wind-down
In millions			Insurance		Insurance		Services		Corporate		Operations		Eliminations			Consolidated
Revenues(1)			$	108	$	42	$	4	$	1	$	9	$	-		$	164
Realized gains (losses) and other
	derivatives
Net change in fair value of
	insured derivatives			-		(61)		-		-		-		-			(61)
Net gains (losses) on financial
	instruments at fair value and
	foreign exchange			32		22		-		6		3		-			63
Net investment losses related
	to other-than-temporary
Net gains (losses) on
	extinguishment of debt			-		-		-		-		4		-			4
Revenues of consolidated VIEs				-		47		-		-		2		-			49
Inter-segment revenues(2)				46		20		7		26		(2)		(97)			-
		Total revenues		186		70		11		33		16		(97)			219
Losses and loss adjustment				4		(198)		-		-		-		-			(194)
Operating				14		34		10		64		-		-			122
Interest				-		28		-		12		20		-			60
Expenses of consolidated VIEs				-		14		-		-		2		-			16
Inter-segment expenses(2)				26		56		2		3		13		(100)			-
		Total expenses		44		(66)		12		79		35		(100)			4
Income (loss) before income			$	142	$	136	$	(1)	$	(46)	$	(19)	$	3		$	215
Identifiable assets			$	6,874	$	17,149	$	34	$	861	$	2,484	$	(5,810)	(3)	$	21,592
________________
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements, investment management fees and
other fees.
(2) - Represents intercompany premium income and expense, intercompany asset management fees and expenses, and intercompany interest income and expense pertaining to
intercompany receivables and payables.
(3) - Consists of intercompany reinsurance balances, repurchase agreements and loans.

Summary Of premiums earned on financial guarantees and insured derivatives by geographic location of risk

		Three Months Ended March 31,
In millions		2014		2013
Total premiums earned:
	United States	$	67	$	106
	United Kingdom		9		8
	Europe (excluding United Kingdom)		3		3
	Internationally diversified		2		3
	Central and South America		9		8
	Asia		1		1
	Other		2		2
Total		$	93	$	131

Summary Of Segments Within Wind-Down Operations

			Three Months Ended March 31, 2014
			Asset /						Total Wind-
			Liability						down
In millions			Products		Conduits		Eliminations		Operations
Revenues(1)			$	9	$	-	$	-	$	9
Net gains (losses) on financial
	instruments at fair value and foreign
	exchange			(38)		-		-		(38)
Net investment losses related to other-
Net gains (losses) on extinguishment
	of debt			1		-		-		1
Revenues of consolidated VIEs				-		4		-		4
Inter-segment revenues(2)				(2)		(1)		-		(3)
		Total revenues		(30)		3		-		(27)
Interest				18		-		-		18
Inter-segment expenses(2)				2		-		-		2
		Total expenses		20		0		-		20
Income (loss) before income taxes			$	(50)	$	3	$	-	$	(47)
Identifiable assets			$	1,471	$	75	$	2	$	1,548
_______________
(1) - Represents the sum of third-party interest income, investment management services fees and other fees.
(2) - Represents intercompany asset management fees and expenses plus intercompany interest income and expense pertaining to intercompany debt.

			Three Months Ended March 31, 2013
			Asset /						Total Wind-
			Liability						down
In millions			Products		Conduits		Eliminations		Operations
Revenues(1)			$	9	$	-	$	-	$	9
Net gains (losses) on financial
	instruments at fair value and foreign
	exchange			3		-		-		3
Net investment losses related to other-
Net gains (losses) on extinguishment
	of debt			4		-		-		4
Revenues of consolidated VIEs				-		2		-		2
Inter-segment revenues(2)				(2)		-		-		(2)
		Total revenues		14		2		-		16
Interest				20		-		-		20
Expenses of consolidated VIEs				-		2		-		2
Inter-segment expenses(2)				2		11		-		13
		Total expenses		22		13		-		35
Income (loss) before income taxes			$	(8)	$	(11)	$	-	$	(19)
Identifiable assets			$	1,822	$	692	$	(30)	$	2,484
_______________
(1) - Represents the sum of third-party interest income, investment management services fees and other fees.
(2) - Represents intercompany asset management fees and expenses plus intercompany interest income and expense pertaining to intercompany debt.