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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 | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 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 | $ 432 | $ 472 | $ 411 | $ 529 |
Accretion of discount | 3 | 2 | 5 | 3 |
Changes in discount rates | (42) | 15 | (89) | (33) |
Changes in timing and assumptions | 7 | (37) | 8 | 23 |
Total economic loss development (benefit) | (32) | (20) | (76) | (7) |
Net (paid) recovered losses | 42 | 14 | 107 | (56) |
Net expected loss to be paid (recovered), end of period | 442 | 466 | $ 442 | 466 |
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 | 7 | 6 | $ 20 | 10 |
Expected LAE to be paid | 14 |  | 14 |  | $ 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 | 191 | 252 | 209 | 341 |
Total economic loss development (benefit) | 6 | 0 | (44) | 3 |
Net (paid) recovered losses | 20 | (9) | 52 | (101) |
Net expected loss to be paid (recovered), end of period | 217 | 243 | 217 | 243 |
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 | 181 | 228 | 197 | 305 |
Total economic loss development (benefit) | 8 | 1 | (40) | 16 |
Net (paid) recovered losses | 21 | (8) | 53 | (100) |
Net expected loss to be paid (recovered), end of period | 210 | 221 | 210 | 221 |
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 | 10 | 24 | 12 | 36 |
Total economic loss development (benefit) | (2) | (1) | (4) | (13) |
Net (paid) recovered losses | (1) | (1) | (1) | (1) |
Net expected loss to be paid (recovered), end of period | 7 | 22 | 7 | 22 |
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 | 195 | 181 | 150 | 148 |
Total economic loss development (benefit) | (39) | (28) | (32) | (17) |
Net (paid) recovered losses | 23 | 25 | 61 | 47 |
Net expected loss to be paid (recovered), end of period | 179 | 178 | 179 | 178 |
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 | 46 | 39 | 52 | 40 |
Total economic loss development (benefit) | 1 | 8 | 0 | 7 |
Net (paid) recovered losses | (1) | (2) | (6) | (2) |
Net expected loss to be paid (recovered), end of period | 46 | 45 | 46 | 45 |
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 | 241 | 220 | 202 | 188 |
Total economic loss development (benefit) | (38) | (20) | (32) | (10) |
Net (paid) recovered losses | 22 | 23 | 55 | 45 |
Net expected loss to be paid (recovered), end of period | $ 225 | $ 223 | $ 225 | $ 223 |

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