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Expected Loss to be Paid (Recovered) - Net Expected Loss to be Paid After Net Expected Recoveries for Breaches of R&W Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended |
--- | --- | ---
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Net expected loss to be paid (recovered), beginning of period | $ 411 | $ 529 |
Accretion of discount | 2 | 1 |
Changes in discount rates | (47) | (48) |
Changes in timing and assumptions | 1 | 60 |
Total economic loss development (benefit) | (44) | 13 |
Net (paid) recovered losses | 65 | (70) |
Net expected loss to be paid (recovered), end of period | $ 432 | 472 |
Period after the end of the reporting period within which the ceded paid losses are typically settled (in days) | 45 days |  |
Loss and LAE Reserve paid | $ 13 | 4 |
Expected LAE to be paid | 17 |  | $ 26
Public finance |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Net expected loss to be paid (recovered), beginning of period | 209 | 341 |
Total economic loss development (benefit) | (50) | 3 |
Net (paid) recovered losses | 32 | (92) |
Net expected loss to be paid (recovered), end of period | 191 | 252 |
Public finance | UNITED STATES |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Net expected loss to be paid (recovered), beginning of period | 197 | 305 |
Total economic loss development (benefit) | (48) | 15 |
Net (paid) recovered losses | 32 | (92) |
Net expected loss to be paid (recovered), end of period | 181 | 228 |
Public finance | Non-U.S. public finance |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Net expected loss to be paid (recovered), beginning of period | 12 | 36 |
Total economic loss development (benefit) | (2) | (12) |
Net (paid) recovered losses | 0 | 0 |
Net expected loss to be paid (recovered), end of period | 10 | 24 |
RMBS | UNITED STATES |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Net expected loss to be paid (recovered), beginning of period | 150 | 148 |
Total economic loss development (benefit) | 7 | 11 |
Net (paid) recovered losses | 38 | 22 |
Net expected loss to be paid (recovered), end of period | 195 | 181 |
Other structured finance |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Net expected loss to be paid (recovered), beginning of period | 52 | 40 |
Total economic loss development (benefit) | (1) | (1) |
Net (paid) recovered losses | (5) | 0 |
Net expected loss to be paid (recovered), end of period | 46 | 39 |
Structured finance |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Net expected loss to be paid (recovered), beginning of period | 202 | 188 |
Total economic loss development (benefit) | 6 | 10 |
Net (paid) recovered losses | 33 | 22 |
Net expected loss to be paid (recovered), end of period | $ 241 | $ 220 |

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