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Insurance Premiums (Tables)
 12 Months Ended
Dec. 31, 2019
Text Block [Abstract]  
Rollforward of Premiums Receivable
The following tables present a roll forward of the Company’s premiums receivable for the years ended December 31, 2019 and 2018.
                                                 
In millions
 
 
 
 
 
Adjustments
 
 
 
Premiums
Receivable as of
December 31, 2018
 
Premium
Payments
Received
 
 
Premiums
from New
Business
Written
 
 
Changes in
Expected Term
of Policies
 
 
Accretion of
Premiums
Receivable
Discount
(1)
 
 
Other
(2)
 
 
Premiums
Receivable as
of December 31,
2019
 
$        296
 
$
(43)
 
 
$
—
 
 
$
(4)
 
 
$
7
 
 
$
(7)
 
 
$
249
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)—Recorded within premiums earned on MBIA’s consolidated statement of operations.
(2)—Primarily relates to the write off of uncollectible premiums and to a lesser extent realized gains due to changes in foreign currency exchange rates.
                                                 
In millions
 
 
 
 
 
Adjustments
 
 
 
Premiums
Receivable as of
December 31, 2017
 
Premium
Payments
Received
 
 
Premiums
from New
Business
Written
 
 
Changes in
Expected Term
of Policies
 
 
Accretion of
Premiums
Receivable
Discount
(1)
 
 
Other
(2)
 
 
Premiums
Receivable as
of December 31,
2018
 
$        369
 
$
(74)
 
 
$
—
 
 
$
2
 
 
$
9
 
 
$
(10)
 
 
$
296
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)—Recorded within premiums earned on MBIA’s consolidated statement of operations.
(2)—Primarily consists of realized gains due to changes in foreign currency exchange rates.
Undiscounted Future Premiums By Period
         
 
 
Expected
 
 
 
Collection
 
of
 
In millions
 
Premiums
 
Three months ending:
   
 
March 31, 2020
  $
3
 
June 30, 2020
   
10
 
September 30, 2020
   
6
 
December 31, 2020
   
11
 
         
Twelve months ending:
   
 
December 31, 2021
   
28
 
December 31, 2022
   
24
 
December 31, 2023
   
23
 
December 31, 2024
   
21
 
         
Five years ending:
   
 
December 31, 2029
   
75
 
December 31, 2034
   
50
 
December 31, 2039 and thereafter
   
63
 
         
Total
  $
 314
 
         
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unearned Premium Reserve And Future Premium Earnings
                                         
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
Unearned
 
 
Expected Future
 
 
 
 
Total Expected
 
 
Premium
 
  
Premium Earnings
   
 
  
Future Premium
 
In millions
  
Revenue
 
  
Upfront
 
  
Installments
 
  
 
 
Accretion
 
  
 
 
 
 
 
 
 
 
Earnings
 
December 31, 2019
  $
482
     
     
     
     
 
                                         
Three months ending:
   
     
     
     
     
 
March 31, 2020
   
466
    $
8
    $
8
    $
2
    $
18
 
June 30, 2020
   
451
     
8
     
7
     
2
     
17
 
September 30, 2020
   
437
     
7
     
7
     
2
     
16
 
December 31, 2020
   
423
     
7
     
7
     
2
     
16
 
                                         
Twelve months ending:
   
     
     
     
     
 
December 31, 2021
   
370
     
26
     
27
     
6
     
59
 
December 31, 2022
   
323
     
23
     
24
     
6
     
53
 
December 31, 2023
   
282
     
20
     
21
     
5
     
46
 
December 31, 2024
   
245
     
18
     
19
     
5
     
42
 
                                         
Five years ending:
   
     
     
     
     
 
December 31, 2029
   
122
     
63
     
60
     
17
     
140
 
December 31, 2034
   
59
     
29
     
34
     
11
     
74
 
December 31, 2039 and thereafter
   
—
     
20
     
39
     
7
     
66
 
                                         
Total
   
    $
 229
    $
 253
    $
65
    $
 547