Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Investments:
Cash and cash equivalents	$ 167	$ 83
Premiums receivable (net of allowance for credit losses $5 and $—)	216	249
Total assets	5,751	7,284
Liabilities:
Total liabilities	5,602	6,445
Commitments and contingencies (Refer to Note 19)
Equity:
Preferred stock, par value $1 per share; authorized shares—10,000,000; issued and outstanding—none	0	0
Common stock, par value $1 per share; authorized shares—400,000,000; issued shares—283,186,115 and 283,433,401	283	283
Additional paid-in capital	2,962	2,999
Retained earnings (deficit)	(13)	607
Accumulated other comprehensive income (loss), net of tax of $8 and $8	115	(2)
Treasury stock, at cost—229,508,967 and 204,000,108 shares	(3,211)	(3,061)
Total shareholders' equity of MBIA Inc.	136	826
Preferred stock of subsidiary	13	13
Total equity	149	839
Total liabilities and equity	5,751	7,284
Non Variable Interest Entity [Member]
Investments:
Fixed-maturity securities held as available-for-sale, at fair value (amortized cost $2,078 and $2,705)	2,257	2,820
Investments carried at fair value	196	209
Investments pledged as collateral, at fair value (amortized cost $6 and $15)	1	10
Short-term investments, at fair value (amortized cost $281 and $423)	282	423
Total investments	2,736	3,462
Cash and cash equivalents	158	75
Premiums receivable (net of allowance for credit losses $5 and $—)	216	249
Deferred acquisition costs	50	60
Insurance loss recoverable	1,677	1,694
Other assets	84	115
Liabilities:
Unearned premium revenue	405	482
Loss and loss adjustment expense reserves	990	901
Long-term debt	2,229	2,228
Medium-term notes (includes financial instruments carried at fair value of $110 and $108)	710	680
Investment agreements	269	304
Derivative liabilities	215	175
Other liabilities	161	136
Variable Interest Entity Primary Beneficiary [Member]
Investments:
Investments carried at fair value	77	83
Other assets	20	26
Cash	9	8
Investments held-to-maturity, at amortized cost (fair value $— and $892)	0	890
Loans receivable at fair value	120	136
Loan repurchase commitments	604	486
Total assets	830	1,600
Liabilities:
Variable interest entity notes (includes financial instruments carried at fair value of $350 and $403)	623	1,539
Total liabilities	$ 623	$ 1,500