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Contracts Accounted for as Insurance - BIG Transaction Loss Summary (Details) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2023 USD ($) risk | Dec. 31, 2022 USD ($) risk
Discount |  |
Net | $ (19) |
BIG |  |
Number of risks |  |
Total (in contracts) | risk | 217 | 247
Remaining weighted average contract period |  |
Gross (in years) | 10 years | 9 years 9 months 18 days
Par |  |
Net | $ 5,383 | $ 5,835
Interest |  |
Net | 2,836 | 3,144
Total net outstanding exposure |  |
Net | 8,219 | 8,979
Expected cash outflows (inflows) |  |
Net | 1,938 | 2,008
Potential recoveries |  |
Net | (1,659) | (1,725)
Subtotal |  |
Net | 279 | 283
Discount |  |
Net | (19) | (82)
Expected losses to be paid (recovered) |  |
Net expected loss to be paid | 260 | 201
Deferred premium revenue |  |
Net | 305 | 345
Reserves (salvage) |  |
Net | $ 72 | $ 33
BIG | BIG 1 |  |
Number of risks |  |
Total (in contracts) | risk | 95 | 122
Par |  |
Net | $ 2,394 | $ 3,357
BIG | BIG 2 |  |
Number of risks |  |
Total (in contracts) | risk | 13 | 14
Par |  |
Net | $ 979 | $ 171
BIG | BIG 3 |  |
Number of risks |  |
Total (in contracts) | risk | 109 | 111
Par |  |
Net | $ 2,010 | $ 2,307
BIG | Consolidated Entity Excluding Variable Interest Entities (VIE) |  |
Number of risks |  |
Total (in contracts) | risk | 217 | 247
Remaining weighted average contract period |  |
Gross (in years) | 9 years 10 months 24 days | 9 years 9 months 18 days
Par |  |
Gross | $ 5,398 | $ 5,852
Interest |  |
Gross | 2,840 | 3,148
Total net outstanding exposure |  |
Gross | 8,238 | 9,000
Expected cash outflows (inflows) |  |
Gross | 1,948 | 2,020
Potential recoveries |  |
Gross | (1,668) | (1,737)
Subtotal |  |
Gross | 280 | 283
Discount |  |
Gross | (19) | (82)
Expected losses to be paid (recovered) |  |
Gross | (261) | (201)
Deferred premium revenue |  |
Gross | 305 | 345
Reserves (salvage) |  |
Gross | $ 73 | $ 33
BIG | Consolidated Entity Excluding Variable Interest Entities (VIE) | BIG 1 |  |
Number of risks |  |
Total (in contracts) | risk | 95 | 122
Remaining weighted average contract period |  |
Gross (in years) | 9 years 7 months 6 days | 11 years 3 months 18 days
Par |  |
Gross | $ 2,400 | $ 3,363
Interest |  |
Gross | 1,126 | 2,177
Total net outstanding exposure |  |
Gross | 3,526 | 5,540
Expected cash outflows (inflows) |  |
Gross | 176 | 128
Potential recoveries |  |
Gross | (376) | (294)
Subtotal |  |
Gross | (200) | (166)
Discount |  |
Gross | 56 | 35
Expected losses to be paid (recovered) |  |
Gross | 144 | 131
Deferred premium revenue |  |
Gross | 100 | 170
Reserves (salvage) |  |
Gross | $ (181) | $ (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) | 15 years 10 months 24 days | 8 years 8 months 12 days
Par |  |
Gross | $ 979 | $ 171
Interest |  |
Gross | 896 | 77
Total net outstanding exposure |  |
Gross | 1,875 | 248
Expected cash outflows (inflows) |  |
Gross | 187 | 121
Potential recoveries |  |
Gross | (78) | (79)
Subtotal |  |
Gross | 109 | 42
Discount |  |
Gross | (22) | (13)
Expected losses to be paid (recovered) |  |
Gross | (87) | (29)
Deferred premium revenue |  |
Gross | 63 | 15
Reserves (salvage) |  |
Gross | $ 45 | $ 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 6 months | 7 years 7 months 6 days
Par |  |
Gross | $ 2,019 | $ 2,318
Interest |  |
Gross | 818 | 894
Total net outstanding exposure |  |
Gross | 2,837 | 3,212
Expected cash outflows (inflows) |  |
Gross | 1,585 | 1,771
Potential recoveries |  |
Gross | (1,214) | (1,364)
Subtotal |  |
Gross | 371 | 407
Discount |  |
Gross | (53) | (104)
Expected losses to be paid (recovered) |  |
Gross | (318) | (303)
Deferred premium revenue |  |
Gross | 142 | 160
Reserves (salvage) |  |
Gross | $ 209 | $ 186

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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 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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