Business Segments (Tables)

3 Months Ended

Mar. 31, 2015

Text Block [Abstract]

Summary of company's segment results

			Three Months Ended March 31, 2015
			U.S.		International
			Public		and Structured
			Finance		Finance
In millions			Insurance		Insurance		Corporate		Eliminations			Consolidated
Revenues(1)			$	105	$	29	$	5	$	-		$	139
Net change in fair value of insured derivatives				-		28		-		-			28
Net gains (losses) on financial instruments at fair value and
	foreign exchange			3		(5)		32		-			30
Other net realized gains (losses)				(4)		-		24		-			20
Revenues of consolidated VIEs				-		2		-		-			2
Inter-segment revenues(2)				10		18		16		(44)			-
		Total revenues		114		72		77		(44)			219
Losses and loss adjustment				(6)		-		-		-			(6)
Operating				10		19		19		-			48
Interest				-		25		25		-			50
Expenses of consolidated VIEs				-		14		-		-			14
Inter-segment expenses(2)				24		18		1		(43)			-
		Total expenses		28		76		45		(43)			106
Income (loss) before income taxes				86		(4)		32		(1)			113
Provision (benefit) for income taxes				29		(2)		17		-			44
Net income (loss)			$	57	$	(2)	$	15	$	(1)		$	69
Identifiable assets			$	5,859	$	10,578	$	2,737	$	(3,259)	(3)	$	15,915
________________
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements and other fees.
(2) - Represents intercompany premium income and expense 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, 2014
			U.S.		International
			Public		and Structured
			Finance		Finance				Advisory
In millions			Insurance		Insurance		Corporate		Services		Conduit		Eliminations			Consolidated
Revenues(1)			$	89	$	32	$	18	$	3	$	-	$	-		$	142
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)		(52)		(4)		-		-			(55)
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)				11		12		7		6		(1)		(35)			-
		Total revenues		105		529		(30)		5		3		(35)			577
Losses and loss adjustment				(14)		64		-		-		-		-			50
Operating				9		17		19		11		-		-			56
Interest				-		28		26		-		-		-			54
Expenses of consolidated VIEs				-		13		-		-		-		-			13
Inter-segment expenses(2)				18		17		4		1		-		(40)			-
		Total expenses		13		139		49		12		-		(40)			173
Income (loss) before income taxes				92		390		(79)		(7)		3		5			404
Provision (benefit) for income taxes				31		136		(21)		(1)		1		2			148
Net income (loss)			$	61	$	254	$	(58)	$	(6)	$	2	$	3		$	256
Identifiable assets			$	6,124	$	10,867	$	2,640	$	34	$	76	$	(3,654)	(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.

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

		Three Months Ended March 31,
In millions		2015		2014
Total premiums earned:
	United States	$	87	$	67
	United Kingdom		7		9
	Europe (excluding United Kingdom)		2		3
	Internationally diversified		1		2
	Central and South America		6		9
	Asia		1		1
	Other		1		2
Total		$	105	$	93