Business Segments (Tables)

12 Months Ended

Dec. 31, 2016

Text Block [Abstract]

Summary of company's segment results

			Year Ended December 31, 2016
			U.S.				International
			Public				and Structured
			Finance				Finance
In millions			Insurance		Corporate		Insurance		Eliminations			Consolidated
Revenues(1)			$	335	$	24	$	121	$	-		$	480
Net change in fair value of insured derivatives				-		-		(19)		-			(19)
Net gains (losses) on financial instruments at fair value and
	foreign exchange			72		(14)		26		-			84
Net investment losses related to other-than-temporary impairments				(4)		(1)		-		-			(5)
Net gains (losses) on extinguishment of debt				-		5		-		-			5
Other net realized gains (losses)				2		(5)		(279)		-			(282)
Revenues of consolidated VIEs				-		-		31		-			31
Inter-segment revenues(2)				22		58		51		(131)			-
		Total revenues		427		67		(69)		(131)			294
Losses and loss adjustment				74		-		146		-			220
Operating				40		80		57		-			177
Interest				-		91		106		-			197
Expenses of consolidated VIEs				-		-		39		-			39
Inter-segment expenses(2)				69		4		52		(125)			-
		Total expenses		183		175		400		(125)			633
Income (loss) before income taxes				244		(108)		(469)		(6)			(339)
Provision (benefit) for income taxes				68		(15)		(52)		(2)			(1)
Net income (loss)			$	176	$	(93)	$	(417)	$	(4)		$	(338)
Identifiable assets			$	5,077	$	2,479	$	6,486	$	(2,905)	(3)	$	11,137
________________
(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, 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	$	2,599	$	9,870	$	(2,898)	(3)	$	14,836
________________
(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	$	2,838	$	10,073	$	793	$	-	$	(3,328)	(3)	$	16,263
________________
(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) - 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 old

		Years Ended December 31,
In millions			2016		2015		2014
Total premiums earned:
	United States	$	238	$	310	$	299
	United Kingdom		27		30		36
	Europe (excluding United Kingdom)		4		4		7
	Internationally diversified		3		3		9
	Other Americas		26		29		49
	Asia		2		3		4
	Other		4		6		12
Total		$	304	$	385	$	416