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Expected Loss to be Paid (Recovered) (Tables) | 3 Months Ended
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Mar. 31, 2026
Expected Losses [Abstract] |
Net Expected Loss to be Paid By Accounting Model | Net Expected Loss to be Paid (Recovered) and Net Economic Loss Development (Benefit) by Accounting Model
|  | Net Expected Loss to be Paid (Recovered) |  |  |  |  | Net Economic Loss Development (Benefit)
|  | As of |  |  |  | First Quarter
Accounting Model |  | March 31, 2026 |  | December 31, 2025 |  |  |  |  |  | 2026 |  | 2025
|  | (in millions)
FG insurance (see Note 6) |  | $ | 129 |  |  | $ | 88 |  |  |  |  |  |  | $ | 44 |  |  | $ | 48 |
FG VIEs (see Note 10) |  | 12 |  |  | 13 |  |  |  |  |  |  | — |  |  | — |
Credit derivatives (see Note 8) |  | — |  |  | — |  |  |  |  |  |  | — |  |  | (63) |
Total |  | $ | 141 |  |  | $ | 101 |  |  |  |  |  |  | $ | 44 |  |  | $ | (15) |
Net Expected Loss to be Paid After Net Expected Recoveries for Breaches of R&W Roll Forward | The following tables present a roll forward of net expected loss to be paid (recovered) for all contracts, which are accounted for under one of the following accounting models: FG insurance, credit derivative or FG VIE. The Company used risk-free rates for U.S. and non-U.S. currencies that ranged from 1.93% to 5.68% with a weighted average of 4.16% as of March 31, 2026 and 1.93% to 5.35% with a weighted average of 3.92% as of December 31, 2025. Net Expected Loss to be Paid (Recovered) Roll Forward
|  |  |  | First Quarter
|  |  |  |  |  | 2026 |  | 2025
| (in millions)
Net expected loss to be paid (recovered), beginning of period |  |  |  |  |  | $ | 101 |  |  | $ | 106 |
Economic loss development (benefit) due to: |  |  |  |  |  |  |  |
Accretion of discount |  |  |  |  |  | 2 |  |  | 1 |
Changes in discount rates |  |  |  |  |  | (4) |  |  | 5 |
Changes in timing and assumptions |  |  |  |  |  | 46 |  |  | (21) |
Total economic loss development (benefit) (1) |  |  |  |  |  | 44 |  |  | (15) |
Net (paid) recovered losses (1) |  |  |  |  |  | (4) |  |  | 59 |
Net expected loss to be paid (recovered), end of period |  |  |  |  |  | $ | 141 |  |  | $ | 150 |
____________________ (1) First quarter 2025 amounts include recoveries recognized in connection with the resolution of the LBIE litigation. See Note 8. Derivatives, for additional information. Net Expected Loss to be Paid (Recovered) Roll Forward by Sector
|  | First Quarter 2026
Sector |  | Net Expected Loss to be Paid (Recovered) as of December 31, 2025 |  | Net Economic Loss Development (Benefit) |  | Net (Paid) Recovered Losses (1) |  | Net Expected Loss to be Paid (Recovered) as of March 31, 2026
|  | (in millions)
Public finance: |  |  |  |  |  |  |  |
U.S. public finance |  | $ | (31) |  |  | $ | 45 |  |  | $ | (11) |  |  | $ | 3 |
Non-U.S. public finance |  | 126 |  |  | 2 |  |  | — |  |  | 128 |
Public finance |  | 95 |  |  | 47 |  |  | (11) |  |  | 131 |
Structured finance: |  |  |  |  |  |  |  |
U.S. RMBS |  | (54) |  |  | (2) |  |  | 8 |  |  | (48) |
Other structured finance |  | 60 |  |  | (1) |  |  | (1) |  |  | 58 |
Structured finance |  | 6 |  |  | (3) |  |  | 7 |  |  | 10 |
Total |  | $ | 101 |  |  | $ | 44 |  |  | $ | (4) |  |  | $ | 141 |
|  | First Quarter 2025
Sector |  | Net Expected Loss to be Paid (Recovered) as of December 31, 2024 |  | Net Economic Loss Development (Benefit) |  | Net (Paid) Recovered Losses (1) |  | Net Expected Loss to be Paid (Recovered) as of March 31, 2025
|  | (in millions)
Public finance: |  |  |  |  |  |  |  |
U.S. public finance |  | $ | 18 |  |  | $ | 29 |  |  | $ | (12) |  |  | $ | 35 |
Non-U.S. public finance |  | 98 |  |  | 24 |  |  | — |  |  | 122 |
Public finance |  | 116 |  |  | 53 |  |  | (12) |  |  | 157 |
Structured finance: |  |  |  |  |  |  |  |
U.S. RMBS |  | (43) |  |  | (3) |  |  | 9 |  |  | (37) |
Other structured finance (2) |  | 33 |  |  | (65) |  |  | 62 |  |  | 30 |
Structured finance |  | (10) |  |  | (68) |  |  | 71 |  |  | (7) |
Total |  | $ | 106 |  |  | $ | (15) |  |  | $ | 59 |  |  | $ | 150 |
____________________ (1) Amounts are net of ceded paid losses, whether or not such amounts have been settled with reinsurers. Ceded paid losses are typically settled 45 days after the end of the reporting period. Such amounts are recorded as reinsurance recoverable on paid losses in “other assets.” (2) First quarter 2025 amounts include recoveries recognized in connection with the resolution of the LBIE litigation. See Note 8. Derivatives, for additional information. Includes cash proceeds for recoveries related to amounts previously paid.
Schedule Of Net Expected Losses To Be Paid (Recovered) And Net Economic Development (Benefit) Loss | Expected Loss to be Paid (Recovered) and Net Economic Loss Development (Benefit) U.S. RMBS
|  | Net Expected Loss to be Paid (Recovered) |  |  |  | Economic Loss Development (Benefit)
|  | March 31, |  | December 31, |  |  |  |  |  | First Quarter
|  | 2026 |  | 2025 |  |  |  |  |  | 2026 |  | 2025
|  | (dollars in millions)
First lien U.S. RMBS |  | $ | 92 |  |  | $ | 90 |  |  |  |  |  |  | $ | — |  |  | $ | 2 |
Second lien U.S. RMBS |  | (140) |  |  | (144) |  |  |  |  |  |  | (2) |  |  | (5) |
Total U.S. RMBS |  | $ | (48) |  |  | $ | (54) |  |  |  |  |  |  | $ | (2) |  |  | $ | (3) |
Impact of changes in discount rates |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 1 |
Range of discount rates |  | 3.63 | % | - | 5.06 | % |  | 3.45 | % | - | 4.97 | % |  |  |  |  |  |  |  |
Weighted average discount rate |  | 4.00% |  | 3.84% |  |  |  |  |  |  |  |
First lien U.S. RMBS weighted average future recovery for deferred principal balances |  | 50.0% |  | 50.0% |  |  |  |  |  |  |  |
Second lien U.S. RMBS weighted average future recoveries on charged-off loans |  | 60.0% |  | 60.0% |  |  |  |  |  |  |  |

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- Definition Expected Losses [Abstract] + References No definition available. + Details
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- Definition Tabular disclosure of a roll forward of the present value of net expected loss and LAE to be paid for financial guaranty contracts accounted for as insurance by sector. Expected loss to be paid is the Company's estimate of the present value of future claim payments, net of reinsurance and net of salvage and subrogation which includes the present value benefit of estimated recoveries for breaches of R&W. + References No definition available. + Details
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- Definition Schedule of Net Expected Losses to be Paid [Table Text Block] + References No definition available. + Details
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