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Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Premiums, fees and reimbursements received $ 53 $ 85
Investment income received 162 197
Insured derivative losses and commutations paid (20) (386)
Financial guarantee losses and loss adjustment expenses paid (172) (217)
Proceeds from reinsurance and recoveries 16 28
Operating and employee related expenses paid (120) (110)
Interest paid (149) (187)
Income taxes (paid) received (3) 44
Net cash provided (used) by operating activities (233) (546)
Cash flows from investing activities:    
Purchase of fixed-maturity securities (938) (1,743)
Sale and redemption of fixed-maturity securities 1,440 2,690
Proceeds from paydowns on variable interest entity loans 60 84
Redemptions of held-to-maturity investments 750 51
Sale (purchase) of short-term investments, net (115) (69)
Sale (purchase) of other investments, net 65 17
(Payments) proceeds for derivative settlements (51) (20)
Capital expenditures (1) (1)
Net cash provided (used) by investing activities 1,210 1,009
Cash flows from financing activities:    
Proceeds from issuance of investment agreements 16 19
Payments for drawdowns of investment agreements (18) (113)
Issuance of medium-term notes 8 4
Principal paydown of medium-term notes   (88)
Principal paydown of variable interest entity notes (262) (358)
Increase (decrease) in securities sold under agreements to repurchase (138)  
Payments for retirement of debt (361) (69)
Restricted stock awards settlements   (1)
Net cash provided (used) by financing activities (755) (606)
Net increase (decrease) in cash and cash equivalents 222 (143)
Cash and cash equivalents - beginning of period 633 1,130
Cash and cash equivalents - end of period 855 987
Reconciliation of net income (loss) to net cash provided (used) by operating activities:    
Net income (loss) 10 (1,274)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Accrued investment income 3 1
Premiums receivable 37 25
Deferred acquisition costs 11 15
Unearned premium revenue (149) (127)
Prepaid reinsurance premiums 3 3
Reinsurance premiums payable 1 (2)
Loss and loss adjustment expense reserves 31 (119)
Reinsurance recoverable on paid and unpaid losses 2  
Insurance loss recoverable (91) (106)
Accrued interest payable (25) (22)
Accounts receivable 2 2
Accrued expenses 48 (26)
Deferred fee revenue (1)  
Current income taxes (24) 44
Amortization of bond (premiums) discounts, net 4 (10)
Depreciation 2 2
Amortization of medium-term notes (premiums) discounts, net (3) (4)
Net investment losses related to other-than-temporary impairments 94 13
Unrealized (gains) losses on insured derivatives (303) 1,422
Net (gains) losses on financial instruments at fair value and foreign exchange 46 131
Other net realized (gains) losses (1) (5)
Deferred income tax provision (benefit) 32 (489)
(Gains) losses on extinguishment of debt   (26)
Share-based compensation 3 1
Other operating 35 5
Total adjustments to net income (loss) (243) 728
Net cash provided (used) by operating activities $ (233) $ (546)