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Expected Loss to be Paid (Recovered) - Net Expected Loss to be Paid (Recovered) Roll Forward (Details) - USD ($) $ in Millions | 12 Months Ended
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Dec. 31, 2023 | Dec. 31, 2022 | 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 | $ 522 | $ 411 | $ 529
Accretion of discount | 20 | 16 | 7
Changes in discount rates | 3 | (115) | (33)
Changes in timing and assumptions | 141 | (26) | (261)
Total economic loss development (benefit) | 164 | (125) | (287)
Net (paid) recovered losses | (181) | 236 | 169
Net expected loss to be paid (recovered), end of period | $ 505 | $ 522 | 411
Weighted average risk free discount rate | 4.10% | 4.08% |
Period after the end of the reporting period within which the ceded paid losses are typically settled (in days) | 45 days |  |
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 | $ 110 | $ 202 | 188
Total economic loss development (benefit) | (48) | (142) | (83)
Net (paid) recovered losses | 25 | 50 | 97
Net expected loss to be paid (recovered), end of period | 87 | 110 | 202
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 | 412 | 209 | 341
Total economic loss development (benefit) | 212 | 17 | (204)
Net (paid) recovered losses | (206) | 186 | 72
Net expected loss to be paid (recovered), end of period | 418 | 412 | 209
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 | 44 | 52 | 40
Total economic loss development (benefit) | 8 | 1 | 17
Net (paid) recovered losses | (8) | (9) | (5)
Net expected loss to be paid (recovered), end of period | $ 44 | $ 44 | 52
U.S. |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Percent of total non-U.S. net expected losses to paid | 96.10% | 98.50% |
U.S. | RMBS |  |  |
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 | $ 66 | $ 150 | 148
Total economic loss development (benefit) | (56) | (143) | (100)
Net (paid) recovered losses | 33 | 59 | 102
Net expected loss to be paid (recovered), end of period | 43 | 66 | 150
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 | 403 | 197 | 305
Total economic loss development (benefit) | 201 | 19 | (182)
Net (paid) recovered losses | (206) | 187 | 74
Net expected loss to be paid (recovered), end of period | 398 | 403 | 197
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 | 9 | 12 | 36
Total economic loss development (benefit) | 11 | (2) | (22)
Net (paid) recovered losses | 0 | (1) | (2)
Net expected loss to be paid (recovered), end of period | $ 20 | $ 9 | $ 12
Minimum |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Risk free discount rate | 3.79% | 3.82% |
Maximum |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |
Risk free discount rate | 5.40% | 4.69% |

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