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v3.23.3

Contracts Accounted for as Insurance - BIG Transaction Loss Summary (Details) $ in Millions | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2023 USD ($) risk | Dec. 31, 2022 USD ($) risk
Discount |  |
Total | $ (39) |
BIG |  |
Number of risks |  |
Total (in contracts) | risk | 224 | 247
Principal |  |
Total | $ 5,119 | $ 5,835
BIG | BIG 1 |  |
Number of risks |  |
Total (in contracts) | risk | 102 | 122
Principal |  |
Total | $ 2,115 | $ 3,357
BIG | BIG 2 |  |
Number of risks |  |
Total (in contracts) | risk | 13 | 14
Principal |  |
Total | $ 980 | $ 171
BIG | BIG 3 |  |
Number of risks |  |
Total (in contracts) | risk | 109 | 111
Principal |  |
Total | $ 2,024 | $ 2,307
BIG | Consolidated Entity Excluding Variable Interest Entities (VIE) |  |
Number of risks |  |
Total (in contracts) | risk | 224 | 247
Remaining weighted average contract period |  |
Gross (in years) | 10 years 2 months 12 days | 9 years 9 months 18 days
Total (in years) | 10 years 2 months 12 days | 9 years 9 months 18 days
Principal |  |
Gross | $ 5,134 | $ 5,852
Total | 5,119 | 5,835
Interest |  |
Gross | 2,871 | 3,148
Total | 2,867 | 3,144
Total net outstanding exposure |  |
Gross | 8,005 | 9,000
Total | 7,986 | 8,979
Expected cash outflows (inflows) |  |
Gross | 1,914 | 2,020
Total | 1,903 | 2,008
Potential recoveries |  |
Gross | (1,625) | (1,737)
Total | (1,615) | (1,725)
Subtotal |  |
Gross | 289 | 283
Total | 288 | 283
Discount |  |
Gross | (39) | (82)
Total | (39) | (82)
Expected losses to be paid (recovered) |  |
Gross | 250 | 201
Net expected loss to be paid | 249 | 201
Deferred premium revenue |  |
Gross | 306 | 345
Total | 306 | 345
Reserves (salvage) |  |
Gross | 74 | 33
Total | $ 74 | $ 33
BIG | Consolidated Entity Excluding Variable Interest Entities (VIE) | BIG 1 |  |
Number of risks |  |
Total (in contracts) | risk | 102 | 122
Remaining weighted average contract period |  |
Gross (in years) | 9 years 9 months 18 days | 11 years 3 months 18 days
Principal |  |
Gross | $ 2,121 | $ 3,363
Interest |  |
Gross | 1,125 | 2,177
Total net outstanding exposure |  |
Gross | 3,246 | 5,540
Expected cash outflows (inflows) |  |
Gross | 113 | 128
Potential recoveries |  |
Gross | (324) | (294)
Subtotal |  |
Gross | (211) | (166)
Discount |  |
Gross | 60 | 35
Expected losses to be paid (recovered) |  |
Gross | (151) | (131)
Deferred premium revenue |  |
Gross | 96 | 170
Reserves (salvage) |  |
Gross | $ (178) | $ (174)
BIG | Consolidated Entity Excluding Variable Interest Entities (VIE) | BIG 2 |  |
Number of risks |  |
Total (in contracts) | risk | 13 | 14
Remaining weighted average contract period |  |
Gross (in years) | 16 years 1 month 6 days | 8 years 8 months 12 days
Principal |  |
Gross | $ 980 | $ 171
Interest |  |
Gross | 922 | 77
Total net outstanding exposure |  |
Gross | 1,902 | 248
Expected cash outflows (inflows) |  |
Gross | 180 | 121
Potential recoveries |  |
Gross | (78) | (79)
Subtotal |  |
Gross | 102 | 42
Discount |  |
Gross | (25) | (13)
Expected losses to be paid (recovered) |  |
Gross | 77 | 29
Deferred premium revenue |  |
Gross | 64 | 15
Reserves (salvage) |  |
Gross | $ 37 | $ 21
BIG | Consolidated Entity Excluding Variable Interest Entities (VIE) | BIG 3 |  |
Number of risks |  |
Total (in contracts) | risk | 109 | 111
Remaining weighted average contract period |  |
Gross (in years) | 7 years 8 months 12 days | 7 years 7 months 6 days
Principal |  |
Gross | $ 2,033 | $ 2,318
Interest |  |
Gross | 824 | 894
Total net outstanding exposure |  |
Gross | 2,857 | 3,212
Expected cash outflows (inflows) |  |
Gross | 1,621 | 1,771
Potential recoveries |  |
Gross | (1,223) | (1,364)
Subtotal |  |
Gross | 398 | 407
Discount |  |
Gross | (74) | (104)
Expected losses to be paid (recovered) |  |
Gross | 324 | 303
Deferred premium revenue |  |
Gross | 146 | 160
Reserves (salvage) |  |
Gross | $ 215 | $ 186

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- Definition This element represents the remaining weighted average contract period of financial guaranty insurance contracts for each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guaranty insurance contracts, before adjusting for the effect of consolidating VIEs. + References No definition available. + Details
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- Definition Remaining weighted average contract period of financial guarantee insurance contracts, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480046/944-40-55-32 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a)(5)(ii) -SubTopic 40 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-9 + Details
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- Definition This element represents the gross claim liability for financial guarantee insurance contracts presented in the context of each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480046/944-40-55-32 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 9 -Subparagraph (a)(5)(iv) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-9 + Details
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- Definition This element represents the amount of insured contractual payments outstanding on the underlying insured obligations for financial guarantee insurance contracts presented in the context of each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 9 -Subparagraph (a)(5)(iii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-9 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480046/944-40-55-32 + Details
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- Definition This element represents the net claim liability related to financial guarantee insurance contracts presented in the context of each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 9 -Subparagraph (a)(5)(vii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-9 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480046/944-40-55-32 + Details
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- Definition This element represents the number of issued and outstanding contracts for each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480046/944-40-55-32 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 9 -Subparagraph (a)(5)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-9 + Details
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- Definition This element represents the gross potential recoveries against the gross claim liability for financial guarantee insurance contracts presented in the context of each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480046/944-40-55-32 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 9 -Subparagraph (a)(5)(v) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-9 + Details
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