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Consolidated Statements Of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Premiums earned:        
Net realized investment gains (losses)     $ (37) $ 1
Net gains (losses) on financial instruments at fair value and foreign exchange $ 25 $ 9 51 41
Net gains (losses) on extinguishment of debt   16 4 30
Total revenues 17 72 97 162
Expenses:        
Losses and loss adjustment (12) 125 57 232
Interest 46 40 130 122
Total expenses 52 195 241 452
Income (loss) from continuing operations before income taxes (35) (123) (144) (290)
Provision (benefit) for income taxes 0 0 0 0
Income (loss) from continuing operations (35) (123) (144) (290)
Income (loss) from discontinued operations, net of income taxes 1 0 1 0
Net income (loss) $ (34) $ (123) $ (143) $ (290)
Net income (loss) per common share - basic and diluted        
Continuing operations - basic $ (0.68) $ (2.49) $ (2.88) $ (5.87)
Continuing operations - diluted (0.68) (2.49) (2.88) (5.87)
Discontinuing operations - basic 0.01 0 0.01 0
Discontinuing operations - diluted 0.01 0 0.01 0
Net income (loss) per common share - basic (0.67) (2.49) (2.87) (5.87)
Net income (loss) per common share - diluted $ (0.67) $ (2.49) $ (2.87) $ (5.87)
Weighted average number of common shares outstanding:        
Basic [1] 49,878,191 49,552,796 49,779,681 49,434,177
Diluted 49,878,191 49,552,796 49,779,681 49,434,177
Non Variable Interest Entity [Member]        
Premiums earned:        
Scheduled premiums earned $ 10 $ 26 $ 31 $ 53
Refunding premiums earned 1 3 6 10
Premiums earned (net of ceded premiums of $- , $14, $1 and $16) 11 29 37 63
Net investment income 24 16 67 45
Net realized investment gains (losses) (13) 2 (37) 1
Net gains (losses) on financial instruments at fair value and foreign exchange 25 9 51 41
Net gains (losses) on extinguishment of debt 0 16 4 30
Fees and reimbursements 0 5 4 6
Other net realized gains (losses) 1 0 (18) 0
Expenses:        
Losses and loss adjustment (12) 125 57 232
Amortization of deferred acquisition costs 2 0 5 5
Operating 14 23 44 70
Interest 46 40 130 122
Variable Interest Entity Primary Beneficiary [Member]        
Premiums earned:        
Net gains (losses) on financial instruments at fair value and foreign exchange (36) 4 (16) (10)
Other net realized gains (losses) 5 (9) 5 (14)
Expenses:        
Operating 2 2 5 5
Interest $ 0 $ 5 $ 0 $ 18
[1] Includes 0.8 million and 0.9 million of participating securities that met the service condition and were eligible to receive nonforfeitable dividends or dividend equivalents for each of the three months and nine months ended September 30, 2022 and 2021, respectively.