Loss and Loss Adjustment Expense Reserves (Tables)

3 Months Ended

Mar. 31, 2015

Text Block [Abstract]

Schedule Of Losses And Loss Adjustment Expenses

		Three Months Ended March 31,
In millions		2015		2014
U.S. Public Finance Insurance Segment		$	(6)	$	(14)
International and Structured Finance Insurance Segment:
	Second-lien RMBS		(8)		25
	First-lien RMBS		9		30
	Other(1)		(1)		9
Losses and LAE expense (benefit)		$	(6)	$	50
________________
(1) - Includes ABS CDOs, CMBS, non-U.S. public finance and other issues.

Schedule Of Financial Guarantees And Related Claim Liability

				Surveillance Categories
				Caution		Caution		Caution
				List		List		List		Classified
$ in millions				Low		Medium		High		List		Total
Number of policies					31		102		5		172		310
Number of issues(1)					16		6		4		119		145
Remaining weighted average contract
	period (in years)				6.8		12.1		9.4		6.9		7.6
Gross insured contractual payments
	outstanding:(2)
		Principal		$	1,573	$	1,375	$	156	$	7,780	$	10,884
		Interest			593		822		80		2,876		4,371
			Total	$	2,166	$	2,197	$	236	$	10,656	$	15,255
Gross Claim Liability				$	-	$	-	$	-	$	791	$	791
Less:
	Gross Potential Recoveries				-		-		-		719		719
	Discount, net(3)				-		-		-		96		96
Net claim liability (recoverable)				$	-	$	-	$	-	$	(24)	$	(24)
Unearned premium revenue				$	60	$	17	$	5	$	76	$	158
__________
(1) - An “issue” represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments.
(2) - Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.
(3) - Represents discount related to Gross Claim Liability and Gross Potential Recoveries.

				Surveillance Categories
				Caution		Caution		Caution
				List		List		List		Classified
$ in millions				Low		Medium		High		List		Total
Number of policies					38		98		4		175		315
Number of issues(1)					18		7		3		119		147
Remaining weighted average contract
	period (in years)				7.2		12.0		10.1		7.0		7.7
Gross insured contractual payments
	outstanding:(2)
		Principal		$	1,757	$	1,372	$	133	$	8,001	$	11,263
		Interest			696		819		68		3,037		4,620
			Total	$	2,453	$	2,191	$	201	$	11,038	$	15,883
Gross Claim Liability				$	-	$	-	$	-	$	850	$	850
Less:
	Gross Potential Recoveries				-		-		-		860		860
	Discount, net(3)				-		-		-		14		14
Net claim liability (recoverable)				$	-	$	-	$	-	$	(24)	$	(24)
Unearned premium revenue				$	63	$	19	$	5	$	80	$	167
__________
(1) - An “issue” represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments.
(2) - Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.
(3) - Represents discount related to Gross Claim Liability and Gross Potential Recoveries.

Present Value Of The Probability-Weighted Future Claim Payments And Recoveries

		As of		As of
In millions		March 31, 2015		December 31, 2014
Loss reserves (claim liability)		$	464	$	464
LAE reserves			35		42
	Loss and LAE reserves	$	499	$	506
Insurance claim loss recoverable		$	(527)	$	(533)
LAE insurance loss recoverable			-		-
	Insurance loss recoverable	$	(527)	$	(533)
Reinsurance recoverable on unpaid losses		$	6	$	6
Reinsurance recoverable on unpaid LAE reserves			1		1
	Reinsurance recoverable on paid and unpaid losses	$	7	$	7

Schedule Of Loss And Loss Adjustment Expenses Reserves

In millions

Changes in Loss and LAE Reserves for the Three Months Ended March 31, 2015

Gross Loss

Loss

Gross Loss

and LAE

Payments

Accretion

Changes in

and LAE

Reserves as of

for Cases

of Claim

Changes in

Unearned

Changes in

Reserves as of

December 31,

with

Liability

Discount

Changes in

Premium

LAE

March 31,

2014

Reserves

Discount

Rates

Assumptions

Revenue

Reserves

Other(1)

2015

$

506

$

(11)

$

2

$

3

$

8

$

5

$

(7)

$

(7)

$

499

____________

(1) - Primarily changes in amount and timing of payments.

Schedule Of Insurance Loss Recoverable And Changes In Recoveries On Unpaid Losses

				Changes in Insurance Loss Recoverable and Recoveries on Unpaid Losses
				for the Three Months Ended March 31, 2015
				Collections
		As of		for Cases		Accretion		Changes in				Changes in				As of
		December 31,		with		of		Discount		Changes in		LAE				March 31,
In millions		2014		Recoveries		Recoveries		Rates		Assumptions		Recoveries		Other(1)		2015
Insurance loss
	recoverable	$	533	$	(21)	$	2	$	5	$	14	$	-	$	(6)	$	527
Recoveries on unpaid
	losses		147		-		1		3		(40)		(1)		-		110
Total		$	680	$	(21)	$	3	$	8	$	(26)	$	(1)	$	(6)	$	637
____________
(1) Primarily changes in amount and timing of collections.