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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (423) $ (106)
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of bond premium and discount (12) (59)
Share-based compensation 8 10
Deferred income taxes (5) (3)
Current income taxes 9 28
Unearned premiums, net (40) (118)
Losses and loss expenses, net 78 (461)
Ceded premiums payable (2) (3)
Premium receivables 44 81
Accrued interest payable 69 65
Amortization of insurance intangible assets 41 280
Net mark-to-market (gains) losses 1 (1)
Net realized investment gains (20) (71)
Variable interest entity activities (3) (30)
Derivative assets and liabilities 15 5
Other, net 72 87
Net cash used in operating activities (167) (296)
Cash flows from investing activities:    
Proceeds from sales of bonds 974 1,052
Proceeds from matured bonds 105 317
Purchases of bonds (844) (866)
Proceeds from sales of other invested assets 377 73
Purchases of other invested assets (425) (135)
Change in short-term investments 67 (235)
Change in cash collateral receivable (2) 75
Proceeds from paydowns of consolidated VIE assets 142 512
Other, net 2 0
Net cash provided by (used in) investing activities 396 791
Cash flows from financing activities:    
Proceeds from issuance of Ambac UK debt 0 12
Paydowns of Ambac note (115) (29)
Issuance of auction market preferred shares of Ambac Assurance 0 19
Tax payments related to shares withheld for share-based compensation plans (3) (3)
Payments of consolidated VIE liabilities (143) (510)
Net cash used in financing activities (260) (511)
Effect of foreign exchange on cash, cash equivalents and restricted cash 0 0
Net cash flow (31) (16)
Cash, cash equivalents, and restricted cash at beginning of period 81 83
Cash, cash equivalents, and restricted cash at end of period $ 50 $ 68