Business Segments (Tables)

12 Months Ended

Dec. 31, 2015

Text Block [Abstract]

Summary of company's segment results

			Year Ended December 31, 2015
			U.S.				International
			Public				and Structured
			Finance				Finance
In millions			Insurance		Corporate		Insurance		Eliminations			Consolidated
Revenues(1)			$	389	$	27	$	114	$	-		$	530
Net change in fair value of insured derivatives				-		-		129		-			129
Net gains (losses) on financial instruments at fair value and
	foreign exchange			14		58		(9)		-			63
Net investment losses related to other-than-temporary impairments				(10)		(3)		-		-			(13)
Net gains (losses) on extinguishment of debt				-		(1)		-		-			(1)
Other net realized gains (losses)				(4)		21		-		-			17
Revenues of consolidated VIEs				-		-		128		-			128
Inter-segment revenues(2)				34		67		63		(164)			-
		Total revenues		423		169		425		(164)			853
Losses and loss adjustment				5		-		118		-			123
Operating				38		79		73		-			190
Interest				-		97		102		-			199
Expenses of consolidated VIEs				-		-		52		-			52
Inter-segment expenses(2)				89		7		64		(160)			-
		Total expenses		132		183		409		(160)			564
Income (loss) before income taxes				291		(14)		16		(4)			289
Provision (benefit) for income taxes				100		7		3		(1)			109
Net income (loss)			$	191	$	(21)	$	13	$	(3)		$	180
Identifiable assets			$	5,265	$	2,606	$	9,882	$	(2,898)	(3)	$	14,855
________________
(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 deferred income taxes, reinsurance balances and repurchase agreements.

			Year Ended December 31, 2014
			U.S.				International
			Public				and Structured
			Finance				Finance		Advisory
In millions			Insurance		Corporate		Insurance		Services		Conduit		Eliminations			Consolidated
Revenues(1)			$	373	$	42	$	189	$	12	$	-	$	-		$	616
Net change in fair value of
	insured derivatives			1		-		458		-		-		-			459
Net gains (losses) on financial
	instruments at fair value and
	foreign exchange			26		55		-		(3)		-		-			78
Net investment losses related
	to other-than-temporary
	impairments			(15)		-		-		-		-		-			(15)
Net gains (losses) on
	extinguishment of debt			-		3		-		-		-		-			3
Other net realized gains (losses)				14		2		12		-		-		-			28
Revenues of consolidated VIEs				-		-		105		(8)		4		-			101
Inter-segment revenues(2)				44		46		55		22		(1)		(166)			-
		Total revenues		443		148		819		23		3		(166)			1,270
Losses and loss adjustment				(10)		-		143		-		-		-			133
Operating				38		87		72		42		-		-			239
Interest				-		101		109		-		-		-			210
Expenses of consolidated VIEs				-		-		47		-		-		-			47
Inter-segment expenses(2)				78		15		64		6		9		(172)			-
		Total expenses		106		203		435		48		9		(172)			629
Income (loss) before income taxes				337		(55)		384		(25)		(6)		6			641
Provision (benefit) for income taxes				115		(173)		134		(6)		-		2			72
Net income (loss)			$	222	$	118	$	250	$	(19)	$	(6)	$	4		$	569
Identifiable assets			$	5,887	$	2,846	$	10,086	$	793	$	-	$	(3,328)	(3)	$	16,284
________________
(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, intercompany interest income and expense pertaining to intercompany
receivables and payables and intercompany loans.
(3) - Consists of intercompany reinsurance balances, repurchase agreements and deferred income taxes.

			Year Ended December 31, 2013
			U.S.				International
			Public				and Structured
			Finance				Finance		Advisory
In millions			Insurance		Corporate		Insurance		Services		Conduit		Eliminations			Consolidated
Revenues(1)			$	425	$	55	$	148	$	16	$	-	$	-		$	644
Net change in fair value of
	insured derivatives			3		-		229		-		-		-			232
Net gains (losses) on financial
	instruments at fair value and
	foreign exchange			29		15		24		1		-		-			69
Net gains (losses) on
	extinguishment of debt			-		22		-		-		-		38	(3)		60
Other net realized gains (losses)				(29)		-		-		-		-		-			(29)
Revenues of consolidated VIEs				-		(14)		237		-		10		-			233
Inter-segment revenues(2)				90		85		78		26		(9)		(270)			-
		Total revenues		518		163		716		43		1		(232)			1,209
Losses and loss adjustment				105		-		12		-		-		-			117
Operating				66		157		108		53		-		-			384
Interest				-		124		112		-		-		-			236
Expenses of consolidated VIEs				-		-		50		-		6		-			56
Inter-segment expenses(2)				96		7		136		7		26		(272)			-
		Total expenses		267		288		418		60		32		(272)			793
Income (loss) before income taxes				251		(125)		298		(17)		(31)		40			416
Provision (benefit) for income taxes				82		(15)		101		(5)		(10)		13			166
Net income (loss)			$	169	$	(110)	$	197	$	(12)	$	(21)	$	27		$	250
Identifiable assets			$	6,056	$	2,641	$	11,687	$	44	$	177	$	(3,652)	(4)	$	16,953
________________
(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, intercompany interest income and expenses pertaining to
intercompany receivables and payables and intercompany loans.
(3) - Represents the gain on the debt received as consideration in connection with the settlement with Bank of America.
(4) - 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

		Years Ended December 31,
In millions			2015		2014		2013
Total premiums earned:
	United States	$	310	$	299	$	391
	United Kingdom		30		36		34
	Europe (excluding United Kingdom)		4		7		11
	Internationally diversified		3		9		9
	Central and South America		29		49		36
	Asia		3		4		4
	Other		6		12		9
Total		$	385	$	416	$	494