Business Segments (Tables)

12 Months Ended

Dec. 31, 2017

Text Block [Abstract]

Summary of company's segment results

			Year Ended December 31, 2017
			U.S.				International
			Public				and Structured
			Finance				Finance
In millions			Insurance		Corporate		Insurance		Eliminations			Consolidated
Revenues(1)			$	262	$	30	$	78	$	-		$	370
Net change in fair value of insured derivatives				-		-		(51)		-			(51)
Net gains (losses) on financial instruments at fair value and
	foreign exchange			25		(32)		(17)		-			(24)
Net investment losses related to other-than-temporary impairments				(106)		-		-		-			(106)
Net gains (losses) on extinguishment of debt				-		28		-		-			28
Other net realized gains (losses)				(4)		(4)		39		-			31
Revenues of consolidated VIEs				-		-		185		-			185
Inter-segment revenues(2)				23		60		44		(127)			-
		Total revenues		200		82		278		(127)			433
Losses and loss adjustment				499		-		184		-			683
Operating				36		59		34		-			129
Interest				-		81		116		-			197
Expenses of consolidated VIEs				-		-		85		-			85
Inter-segment expenses(2)				72		11		47		(130)			-
		Total expenses		607		151		466		(130)			1,094
Income (loss) before income taxes				(407)		(69)		(188)		3			(661)
Provision (benefit) for income taxes				(152)		556		1,143		(603)			944
Net income (loss)			$	(255)	$	(625)	$	(1,331)	$	606		$	(1,605)
Identifiable assets			$	4,582	$	1,312	$	5,404	$	(2,203)	(3)	$	9,095
________________
(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 and repurchase agreements.

			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.

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

		Years Ended December 31,
In millions			2017		2016		2015
Total premiums earned:
	United States	$	169	$	238	$	310
	United Kingdom		2		27		30
	Europe (excluding United Kingdom)		1		4		4
	Internationally diversified		1		3		3
	Other Americas		25		26		29
	Asia		1		2		3
	Other		3		4		6
Total		$	202	$	304	$	385