Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Investments:
Cash and cash equivalents	$ 112	$ 167
Total assets	4,816	5,751
Liabilities:
Total liabilities	4,973	5,602
Commitments and contingencies (Refer to Note 13: Commitments and Contingencies)
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 283,186,115	283	283
Additional paid-in capital	2,936	2,962
Retained earnings (deficit)	(303)	(13)
Accumulated other comprehensive income (loss), net of tax of $8 and $8	90	115
Treasury stock, at cost--228,780,039 and 229,508,967 shares	(3,176)	(3,211)
Total shareholders' equity of MBIA Inc.	(170)	136
Preferred stock of subsidiary	13	13
Total equity	(157)	149
Total liabilities and equity	4,816	5,751
Non Variable Interest Entity [Member]
Investments:
Fixed-maturity securities held as available-for-sale, at fair value (amortized cost $1,963 and $2,078)	2,088	2,257
Investments carried at fair value	246	196
Investments pledged as collateral, at fair value (amortized cost $4 and $6)	4	1
Short-term investments, at fair value (amortized cost $372 and $281)	372	282
Total investments	2,710	2,736
Cash and cash equivalents	108	158
Premiums receivable (net of allowance for credit losses $5 and $5)	185	216
Deferred acquisition costs	44	50
Insurance loss recoverable	1,537	1,677
Other assets	64	84
Liabilities:
Unearned premium revenue	333	405
Loss and loss adjustment expense reserves	850	990
Long-term debt	2,308	2,229
Medium-term notes (includes financial instruments carried at fair value of $102 and $110)	592	710
Investment agreements	271	269
Derivative liabilities	133	215
Other liabilities	194	161
Variable Interest Entity Primary Beneficiary [Member]
Investments:
Investments carried at fair value	63	77
Other assets	24	20
Cash	4	9
Loans receivable at fair value	77	120
Loan repurchase commitments	0	604
Total assets	168	830
Liabilities:
Variable interest entity notes (includes financial instruments carried at fair value of $292 and $350)	292	623
Total liabilities	$ 292	$ 623