Investments (Tables)

12 Months Ended

Dec. 31, 2018

Text Block [Abstract]

Amortized Cost And Fair Value Of Available-For-Sale And Held-To-Maturity Investment Portfolios

			December 31, 2018
					Gross		Gross				Other-Than-
			Amortized		Unrealized		Unrealized		Fair		Temporary
In millions			Cost		Gains		Losses		Value		Impairments(1)
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency		$	1,093	$	26	$	(10)	$	1,109	$	-
	State and municipal bonds			641		97		(11)		727		42
	Foreign governments			9		-		-		9		-
	Corporate obligations			1,473		6		(131)		1,348		(68)
	Mortgage-backed securities:
		Residential mortgage-backed agency		218		1		(5)		214		-
		Residential mortgage-backed non-agency		30		1		(4)		27		-
		Commercial mortgage-backed		53		-		(2)		51		-
	Asset-backed securities:
		Collateralized debt obligations		122		-		(3)		119		-
		Other asset-backed		178		-		(1)		177		-
Total AFS investments			$	3,817	$	131	$	(167)	$	3,781	$	(26)
HTM Investments
Assets of consolidated VIEs:
	Corporate obligations		$	890	$	35	$	-	$	925	$	-
Total HTM investments			$	890	$	35	$	-	$	925	$	-
_______________
(1) - Represents unrealized gains or losses on OTTI securities recognized in AOCI, which includes the non-credit component of impairments, as well as all subsequent changes in fair value of such impaired securities reported in AOCI.

				December 31, 2017
						Gross		Gross				Other-Than-
				Amortized		Unrealized		Unrealized		Fair		Temporary
In millions				Cost		Gains		Losses		Value		Impairments(1)
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency			$	1,317	$	34	$	(6)	$	1,345	$	-
	State and municipal bonds				840		29		(12)		857		-
	Foreign governments				10		-		-		10		-
	Corporate obligations				1,332		25		(80)		1,277		(72)
	Mortgage-backed securities:
		Residential mortgage-backed agency			365		1		(4)		362		-
		Residential mortgage-backed non-agency			35		1		(4)		32		-
		Commercial mortgage-backed			66		-		-		66		-
	Asset-backed securities:
		Collateralized debt obligations			116		-		-		116		-
		Other asset-backed			175		-		-		175		1
			Total fixed-maturity investments		4,256		90		(106)		4,240		(71)
Money market securities					179		-		-		179		-
Perpetual debt and equity securities					3		1		-		4		-
Total AFS investments				$	4,438	$	91	$	(106)	$	4,423	$	(71)
HTM Investments
Assets of consolidated VIEs:
	Corporate obligations			$	890	$	26	$	-	$	916	$	-
Total HTM investments				$	890	$	26	$	-	$	916	$	-
_______________
(1) - Represents unrealized gains or losses on OTTI securities recognized in AOCI, which includes the non-credit component of impairments, as well as all subsequent changes in fair value of such impaired securities reported in AOCI.

Distribution By Contractual Maturity Of Available-For-Sale and Held-To-Maturity Investments

	AFS Securities				HTM Securities
					Consolidated VIEs
	Amortized				Amortized
In millions	Cost		Fair Value		Cost		Fair Value
Due in one year or less	$	820	$	831	$	-	$	-
Due after one year through five years		715		741		-		-
Due after five years through ten years		651		568		-		-
Due after ten years		1,030		1,053		890		925
Mortgage-backed and asset-backed		601		588		-		-
Total fixed-maturity investments	$	3,817	$	3,781	$	890	$	925

Gross Unrealized Losses Related To Available-For-Sale And Held-To-Maturity Investments

			December 31, 2018
			Less than 12 Months				12 Months or Longer				Total
			Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
In millions			Value		Losses		Value		Losses		Value		Losses
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency		$	231	$	(1)	$	278	$	(9)	$	509	$	(10)
	State and municipal bonds			60		(1)		135		(10)		195		(11)
	Foreign governments			5		-		2		-		7		-
	Corporate obligations			900		(41)		335		(90)		1,235		(131)
	Mortgage-backed securities:
		Residential mortgage-backed agency		29		(1)		118		(4)		147		(5)
		Residential mortgage-backed non-agency		2		-		13		(4)		15		(4)
		Commercial mortgage-backed		24		-		21		(2)		45		(2)
	Asset-backed securities:
		Collateralized debt obligations		98		(3)		7		-		105		(3)
		Other asset-backed		127		-		35		(1)		162		(1)
Total AFS investments			$	1,476	$	(47)	$	944	$	(120)	$	2,420	$	(167)

			December 31, 2017
			Less than 12 Months				12 Months or Longer				Total
			Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
In millions			Value		Losses		Value		Losses		Value		Losses
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency		$	353	$	(1)	$	124	$	(5)	$	477	$	(6)
	State and municipal bonds			203		(8)		116		(4)		319		(12)
	Foreign governments			8		-		-		-		8		-
	Corporate obligations			425		(3)		163		(77)		588		(80)
	Mortgage-backed securities:
		Residential mortgage-backed agency		105		(1)		156		(3)		261		(4)
		Residential mortgage-backed non-agency		-		-		14		(4)		14		(4)
		Commercial mortgage-backed		27		-		5		-		32		-
	Asset-backed securities:
		Collateralized debt obligations		12		-		-		-		12		-
		Other asset-backed		71		-		39		-		110		-
Total AFS investments			$	1,204	$	(13)	$	617	$	(93)	$	1,821	$	(106)

Distribution Of Securities By Percentage Of Fair Value Below Book Value By More Than 5%

	AFS Securities
Percentage of Fair Value	Number of	Book Value		Fair Value
Below Book Value	Securities	(in millions)		(in millions)
> 5% to 15%	47	$	299	$	273
> 15% to 25%	11		35		29
> 25% to 50%	3		12		9
> 50%	3		99		30
Total	64	$	445	$	341

Credit Losses Recognized In Earnings Related To OTTI Losses Recognized In Accumulated Other Comprehensive Income (Loss)

In millions		Years Ended December 31,
Credit Losses Recognized in Earnings Related to OTTI		2018		2017		2016
Beginning balance		$	32	$	29	$	26
Additions for credit loss impairments recognized in the
	current period on securities not previously impaired		-		11		-
Additions for credit loss impairments recognized in the
	current period on securities previously impaired		5		5		4
Reductions for credit loss impairments previously recognized
	on securities sold during the period		-		(2)		(1)
Reductions for credit loss impairments previously recognized on securities
	impaired to fair value during the period		-		(11)		-
Ending balance		$	37	$	32	$	29

Securities Held In Unrealized Loss Position And Insured By Financial Guarantor and The Related Insurance Loss Reserve On Company Insured Investments

				Unrealized		Insurance Loss
In millions		Fair Value		Loss		Reserve (2)
Mortgage-backed:
	MBIA(1)	$	13	$	(4)	$	15
Corporate obligations:
	MBIA(1)		81		(8)		-
Other:
	Other		1		-		-
Total		$	95	$	(12)	$	15
_______________
(1) - Includes investments insured by MBIA Corp. and National.
(2) - Insurance loss reserve estimates are based on the proportion of par value owned to the total amount of par value insured.

Gross Realized Gains and Losses From Sales Of Available-For-Sale Securities

	Years Ended December 31,
In millions	2018		2017		2016
Proceeds from sales	$	2,117	$	2,256	$	2,412
Gross realized gains	$	6	$	40	$	84
Gross realized losses	$	(19)	$	(22)	$	(23)

Portion Of Unrealized Gains Losses Recognized On Equity Investments [Table Text Block]

	Year Ended
In millions	December 31, 2018
Net gains and (losses) recognized during the period on equity securities	$	(4)
Less:
Net gains and (losses) recognized during the period on equity securities sold during the period		1
Unrealized gains and (losses) recognized during the period on equity securities still held
as of December 31, 2018	$	(5)