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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 17 $ (280)
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of bond premium and discount (3) (4)
Share-based compensation 4 3
Deferred income taxes (3) (6)
Current income taxes (3) (5)
Unearned premiums, net (22) (7)
Losses and loss expenses, net (17) 77
Ceded premiums payable (2) (1)
Premium receivables 14 13
Accrued interest payable 23 23
Amortization of intangible assets 19 13
Net realized investment gains (2) (8)
Net realized gains (losses) on extinguishment of debt (33)  
Variable interest entity activities 0 (3)
Derivative assets and liabilities (22) 32
Other, net (10) 64
Net cash used in operating activities (40) (87)
Cash flows from investing activities:    
Proceeds from sales of bonds 44 221
Proceeds from matured bonds 39 49
Purchases of bonds (128) (150)
Proceeds from sales of other invested assets 48 243
Purchases of other invested assets (41) (195)
Change in short-term investments 94 67
Change in cash collateral receivable 11 (56)
Proceeds from paydowns of consolidated VIE assets 50 66
Other, net (1) (1)
Net cash provided by investing activities 116 244
Cash flows from financing activities:    
Paydowns of Ambac note (16) (77)
Tax payments related to shares withheld for share-based compensation plans (6) (3)
Payments of consolidated VIE liabilities (48) (66)
Net cash used in financing activities (69) (146)
Effect of foreign exchange on cash, cash equivalents and restricted cash 0 0
Net cash flow 6 10
Cash, cash equivalents, and restricted cash at beginning of period 35 81
Cash, cash equivalents, and restricted cash at end of period 42 91
Net income attributable to common shareholders 17 $ (280)
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest $ 0