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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Summary of Financial Information by Reportable Segment
The following table is a summary of financial information by reportable business segment for the affected periods:
 
 
Financial
Guarantee
 
Financial
Services
 
Corporate
and Other
 
Inter-segment
Eliminations
 
Consolidated
Three Months Ended March 31, 2017:
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)
 
$
131,850

 
$
(1,706
)
 
$
(5,114
)
 
$
—

 
$
125,030

Equity in net income of investees accounted for by equity method
 
—

 
—

 
1,198

 
—

 
1,198

Inter-segment
 
908

 
(836
)
 
330

 
(402
)
 
—

Total revenues
 
132,758

 
(2,542
)
 
(3,586
)
 
(402
)
 
126,228

Pre-tax income:
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)(2)(3)
 
(97,337
)
 
(2,252
)
 
(7,469
)
 
—

 
(107,058
)
Equity in net income of investees accounted for by equity method
 
—

 
—

 
1,198

 
—

 
1,198

Inter-segment
 
(223
)
 
(938
)
 
1,161

 
—

 
—

Pre-tax income
 
(97,560
)
 
(3,190
)
 
(5,110
)
 
—

 
(105,860
)
Total assets as of March 31, 2017
 
22,388,190

 
139,637

 
389,580

 
(153,847
)
 
22,763,560

Net investment income
 
78,342

 
154

 
3,063

 
—

 
81,559

Insurance intangible amortization
 
37,525

 
—

 
—

 
—

 
37,525

Interest expense
 
31,394

 
178

 
—

 
—

 
31,572

 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016:
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)
 
$
97,374

 
$
(83,214
)
 
$
1,610

 
$
—

 
$
15,770

Equity in net income of investees accounted for by equity method
 
—

 
—

 
1,132

 
—

 
1,132

Inter-segment
 
(772
)
 
(338
)
 
1,148

 
(38
)
 
—

Total revenues
 
96,602

 
(83,552
)
 
3,890

 
(38
)
 
16,902

Pre-tax income (loss):
 
 
 
 
 
 
Unaffiliated customers (1) (2) (3)
 
98,417

 
(83,847
)
 
(2,848
)
 
—

 
11,722

Equity in net income of investees accounted for by equity method
 
—

 
—

 
1,132

 
—

 
1,132

Inter-segment
 
(1,623
)
 
(454
)
 
2,077

 
—

 
—

Pre-tax income (loss)
 
96,794

 
(84,301
)
 
361

 
—

 
12,854

Total assets as of March 31, 2016
 
23,045,239

 
390,661

 
276,885

 
5,806

 
23,718,591

Net investment income
 
57,713

 
203

 
2,905

 
—

 
60,821

Insurance intangible amortization
 
50,890

 
—

 
—

 
—

 
50,890

Interest expense
 
30,284

 
146

 
—

 
—

 
30,430

(1)
Included in both revenues from unaffiliated customers and in pre-tax income from unaffiliated customers is net investment income.
(2)
Included in pre-tax income from unaffiliated customers is interest expense.
(3)
Included in pre-tax income from unaffiliated customers is the amortization of insurance intangible asset arising from financial guarantee contracts that were set to fair value upon adoption of Fresh Start.
 
 
 
 
 
 
 
 
 
 
 
Schedule of Gross Premiums Written, Net Premiums Earned and Net Change in Fair Value of Credit Derivatives
The following table summarizes gross premiums written, net premiums earned and the net change in fair value of credit derivatives included in the Financial Guarantee segment by location of risk for the affected periods:
 
 
Three Months Ended March 31, 2017
 
Three Months Ended March 31, 2016
 
 
Gross
Premiums
Written
 
Net
Premiums
Earned
 
Net Change in
Fair Value of
Credit
Derivatives
 
Gross
Premiums
Written
 
Net
Premiums
Earned
 
Net Change in
Fair Value of
Credit
Derivatives
United States
 
$
(2,679
)
 
$
40,621

 
$
201

 
$
(13,759
)
 
$
46,115

 
$
855

United Kingdom
 
10,727

 
5,263

 
—

 
9,352

 
6,388

 
—

Other international
 
(2,464
)
 
1,729

 
851

 
(20,373
)
 
297

 
12,011

Total
 
$
5,584

 
$
47,613

 
$
1,052

 
$
(24,780
)
 
$
52,800

 
$
12,866