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Investments (Tables) | 6 Months Ended
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Jun. 30, 2012
Available For Sale In Consolidated Investment Portfolio |
|  | June 30, 2012 |
In millions |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Other-Than- Temporary Impairments(1) |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agency |  | $ | 1,036 |  |  | $ | 49 |  |  | $ | - |  |  | $ | 1,085 |  |  | $ | - |
Foreign governments |  |  | 328 |  |  |  | 22 |  |  |  | - |  |  |  | 350 |  |  |  | - |
Corporate obligations |  |  | 1,111 |  |  |  | 50 |  |  |  | (24) |  |  |  | 1,137 |  |  |  | (2) |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agency |  |  | 1,032 |  |  |  | 47 |  |  |  | - |  |  |  | 1,079 |  |  |  | - |
Residential mortgage-backed non-agency |  |  | 199 |  |  |  | 15 |  |  |  | (39) |  |  |  | 175 |  |  |  | (113) |
Commercial mortgage-backed |  |  | 44 |  |  |  | 1 |  |  |  | (5) |  |  |  | 40 |  |  |  | - |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 184 |  |  |  | - |  |  |  | (86) |  |  |  | 98 |  |  |  | (57) |
Other asset-backed |  |  | 212 |  |  |  | 2 |  |  |  | (19) |  |  |  | 195 |  |  |  | (1) |
State and municipal bonds |  |  | 886 |  |  |  | 62 |  |  |  | (11) |  |  |  | 937 |  |  |  | - |
Total taxable bonds |  |  | 5,032 |  |  |  | 248 |  |  |  | (184) |  |  |  | 5,096 |  |  |  | (173) |
Tax-exempt bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal bonds |  |  | 1,012 |  |  |  | 56 |  |  |  | (1) |  |  |  | 1,067 |  |  |  | - |
Total fixed-maturity investments |  |  | 6,044 |  |  |  | 304 |  |  |  | (185) |  |  |  | 6,163 |  |  |  | (173) |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Perpetual preferred securities |  |  | 50 |  |  |  | - |  |  |  | (1) |  |  |  | 49 |  |  |  | - |
Other investments |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | 10 |  |  |  | - |
Money market securities |  |  | 635 |  |  |  | - |  |  |  | - |  |  |  | 635 |  |  |  | - |
Total other investments |  |  | 695 |  |  |  | - |  |  |  | (1) |  |  |  | 694 |  |  |  | - |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 177 |  |  |  | 6 |  |  |  | (7) |  |  |  | 176 |  |  |  | - |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed non-agency |  |  | 106 |  |  |  | - |  |  |  | (19) |  |  |  | 87 |  |  |  | - |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 109 |  |  |  | - |  |  |  | (14) |  |  |  | 95 |  |  |  | - |
Other asset-backed |  |  | 29 |  |  |  | 1 |  |  |  | - |  |  |  | 30 |  |  |  | - |
State and municipal bonds |  |  | 37 |  |  |  | 3 |  |  |  | - |  |  |  | 40 |  |  |  | - |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market securities |  |  | 109 |  |  |  | - |  |  |  | - |  |  |  | 109 |  |  |  | - |
Total available-for-sale investments |  | $ | 7,306 |  |  | $ | 314 |  |  | $ | (226) |  |  | $ | 7,394 |  |  | $ | (173) |
(1) - Represents the amount of other-than-temporary losses recognized in accumulated other comprehensive income (loss) since the adoption of the accounting guidance for other-than-temporary impairments.
|  | December 31, 2011 |
In millions |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Other-Than- Temporary Impairments(1) |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agency |  | $ | 1,091 |  |  | $ | 39 |  |  | $ | - |  |  | $ | 1,130 |  |  | $ | - |
Foreign governments |  |  | 326 |  |  |  | 23 |  |  |  | - |  |  |  | 349 |  |  |  | - |
Corporate obligations |  |  | 1,698 |  |  |  | 43 |  |  |  | (106) |  |  |  | 1,635 |  |  |  | (2) |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agency |  |  | 1,198 |  |  |  | 47 |  |  |  | - |  |  |  | 1,245 |  |  |  | - |
Residential mortgage-backed non-agency |  |  | 325 |  |  |  | 31 |  |  |  | (83) |  |  |  | 273 |  |  |  | (125) |
Commercial mortgage-backed |  |  | 58 |  |  |  | 1 |  |  |  | (10) |  |  |  | 49 |  |  |  | - |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 251 |  |  |  | - |  |  |  | (118) |  |  |  | 133 |  |  |  | (69) |
Other asset-backed |  |  | 520 |  |  |  | 2 |  |  |  | (82) |  |  |  | 440 |  |  |  | (37) |
State and municipal bonds |  |  | 903 |  |  |  | 35 |  |  |  | (17) |  |  |  | 921 |  |  |  | - |
Total taxable bonds |  |  | 6,370 |  |  |  | 221 |  |  |  | (416) |  |  |  | 6,175 |  |  |  | (233) |
Tax-exempt bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal bonds |  |  | 1,122 |  |  |  | 41 |  |  |  | (2) |  |  |  | 1,161 |  |  |  | - |
Total fixed-maturity investments |  |  | 7,492 |  |  |  | 262 |  |  |  | (418) |  |  |  | 7,336 |  |  |  | (233) |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Perpetual preferred securities |  |  | 127 |  |  |  | - |  |  |  | (19) |  |  |  | 108 |  |  |  | - |
Other investments |  |  | 22 |  |  |  | 1 |  |  |  | - |  |  |  | 23 |  |  |  | - |
Money market securities |  |  | 911 |  |  |  | - |  |  |  | - |  |  |  | 911 |  |  |  | - |
Total other investments |  |  | 1,060 |  |  |  | 1 |  |  |  | (19) |  |  |  | 1,042 |  |  |  | - |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | - |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed non-agency |  |  | 119 |  |  |  | - |  |  |  | (26) |  |  |  | 93 |  |  |  | - |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 112 |  |  |  | - |  |  |  | (15) |  |  |  | 97 |  |  |  | - |
Other asset-backed |  |  | 41 |  |  |  | - |  |  |  | - |  |  |  | 41 |  |  |  | - |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market securities |  |  | 199 |  |  |  | - |  |  |  | - |  |  |  | 199 |  |  |  | - |
Total available-for-sale investments |  | $ | 9,025 |  |  | $ | 263 |  |  | $ | (478) |  |  | $ | 8,810 |  |  | $ | (233) |
(1) - Represents the amount of other-than-temporary losses recognized in accumulated other comprehensive income (loss) since the adoption of the accounting guidance for other-than-temporary impairments.
Available For Sale Securities In Continuous Unrealized Loss Position |
|  | June 30, 2012 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
In millions |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agency |  | $ | 471 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 471 |  |  | $ | - |
Foreign governments |  |  | 40 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 40 |  |  |  | - |
Corporate obligations |  |  | 211 |  |  |  | (2) |  |  |  | 41 |  |  |  | (22) |  |  |  | 252 |  |  |  | (24) |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agency |  |  | 3 |  |  |  | - |  |  |  | 43 |  |  |  | - |  |  |  | 46 |  |  |  | - |
Residential mortgage-backed non-agency |  |  | 7 |  |  |  | (1) |  |  |  | 113 |  |  |  | (38) |  |  |  | 120 |  |  |  | (39) |
Commercial mortgage-backed |  |  | 5 |  |  |  | - |  |  |  | 26 |  |  |  | (5) |  |  |  | 31 |  |  |  | (5) |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 7 |  |  |  | (1) |  |  |  | 87 |  |  |  | (85) |  |  |  | 94 |  |  |  | (86) |
Other asset-backed |  |  | 4 |  |  |  | - |  |  |  | 91 |  |  |  | (19) |  |  |  | 95 |  |  |  | (19) |
State and municipal bonds |  |  | 7 |  |  |  | - |  |  |  | 76 |  |  |  | (11) |  |  |  | 83 |  |  |  | (11) |
Total taxable bonds |  |  | 755 |  |  |  | (4) |  |  |  | 477 |  |  |  | (180) |  |  |  | 1,232 |  |  |  | (184) |
Tax-exempt bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal bonds |  |  | 17 |  |  |  | - |  |  |  | 23 |  |  |  | (1) |  |  |  | 40 |  |  |  | (1) |
Total fixed-maturity investments |  |  | 772 |  |  |  | (4) |  |  |  | 500 |  |  |  | (181) |  |  |  | 1,272 |  |  |  | (185) |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Perpetual preferred securities |  |  | 46 |  |  |  | (1) |  |  |  | 1 |  |  |  | - |  |  |  | 47 |  |  |  | (1) |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | - |  |  |  | - |  |  |  | 53 |  |  |  | (7) |  |  |  | 53 |  |  |  | (7) |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed non-agency |  |  | - |  |  |  | - |  |  |  | 87 |  |  |  | (19) |  |  |  | 87 |  |  |  | (19) |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 5 |  |  |  | - |  |  |  | 90 |  |  |  | (14) |  |  |  | 95 |  |  |  | (14) |
Other asset-backed |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 4 |  |  |  | - |
Total |  | $ | 823 |  |  | $ | (5) |  |  | $ | 735 |  |  | $ | (221) |  |  | $ | 1,558 |  |  | $ | (226) |
|  | December 31, 2011 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
In millions |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agency |  | $ | 200 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 200 |  |  | $ | - |
Foreign governments |  |  | 20 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20 |  |  |  | - |
Corporate obligations |  |  | 297 |  |  |  | (15) |  |  |  | 418 |  |  |  | (91) |  |  |  | 715 |  |  |  | (106) |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agency |  |  | 20 |  |  |  | - |  |  |  | 49 |  |  |  | - |  |  |  | 69 |  |  |  | - |
Residential mortgage-backed non-agency |  |  | 34 |  |  |  | (5) |  |  |  | 167 |  |  |  | (78) |  |  |  | 201 |  |  |  | (83) |
Commercial mortgage-backed |  |  | 17 |  |  |  | (2) |  |  |  | 22 |  |  |  | (8) |  |  |  | 39 |  |  |  | (10) |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 13 |  |  |  | (2) |  |  |  | 117 |  |  |  | (116) |  |  |  | 130 |  |  |  | (118) |
Other asset-backed |  |  | 53 |  |  |  | (7) |  |  |  | 328 |  |  |  | (75) |  |  |  | 381 |  |  |  | (82) |
State and municipal bonds |  |  | 152 |  |  |  | (2) |  |  |  | 76 |  |  |  | (15) |  |  |  | 228 |  |  |  | (17) |
Total taxable bonds |  |  | 806 |  |  |  | (33) |  |  |  | 1,177 |  |  |  | (383) |  |  |  | 1,983 |  |  |  | (416) |
Tax-exempt bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal bonds |  |  | 14 |  |  |  | - |  |  |  | 75 |  |  |  | (2) |  |  |  | 89 |  |  |  | (2) |
Total fixed-maturity investments |  |  | 820 |  |  |  | (33) |  |  |  | 1,252 |  |  |  | (385) |  |  |  | 2,072 |  |  |  | (418) |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Perpetual preferred securities |  |  | 47 |  |  |  | (3) |  |  |  | 45 |  |  |  | (16) |  |  |  | 92 |  |  |  | (19) |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | - |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed non-agency |  |  | 3 |  |  |  | - |  |  |  | 90 |  |  |  | (26) |  |  |  | 93 |  |  |  | (26) |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | 9 |  |  |  | - |  |  |  | 88 |  |  |  | (15) |  |  |  | 97 |  |  |  | (15) |
Other asset-backed |  |  | 31 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 31 |  |  |  | - |
Total |  | $ | 912 |  |  | $ | (36) |  |  | $ | 1,475 |  |  | $ | (442) |  |  | $ | 2,387 |  |  | $ | (478) |
Fair Values And Gross Unrealized Losses By Credit Rating Category Of Asset Backed Securities |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Below |  |  |  |  |  |  |  |  |  |  |  |  |
In millions |  | Aaa |  |  | Aa |  |  | A |  |  | Baa |  |  | Investment Grade |  |  | Not Rated |  |  | Total |
Asset- backed Sector |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
ABS CDO |  | $ | 5 |  |  | $ | - |  |  | $ | 5 |  |  | $ | - |  |  | $ | 6 |  |  | $ | - |  |  | $ | 1 |  |  | $ | (3) |  |  | $ | 15 |  |  | $ | (52) |  |  | $ | - |  |  | $ | - |  |  | $ | 32 |  |  | $ | (55) |
Corporate CDO |  |  | 36 |  |  |  | (3) |  |  |  | 63 |  |  |  | (10) |  |  |  | 16 |  |  |  | (3) |  |  |  | 1 |  |  |  | - |  |  |  | 88 |  |  |  | (40) |  |  |  | 1 |  |  |  | (1) |  |  |  | 205 |  |  |  | (57) |
Auto loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 2 |  |  |  | - |
Credit cards |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | - |
Small business/ student loans |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16 |  |  |  | - |
Other ABS |  |  | 2 |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 4 |  |  |  | (1) |  |  |  | 10 |  |  |  | (2) |  |  |  | 7 |  |  |  | (4) |  |  |  | 31 |  |  |  | (7) |
Total |  | $ | 50 |  |  | $ | (3) |  |  | $ | 72 |  |  | $ | (10) |  |  | $ | 26 |  |  | $ | (3) |  |  | $ | 6 |  |  | $ | (4) |  |  | $ | 124 |  |  | $ | (94) |  |  | $ | 10 |  |  | $ | (5) |  |  | $ | 288 |  |  | $ | (119) |
Fair Values And Gross Unrealized Losses By Credit Rating Category Of Mortgage Backed Securities |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Below |  |  |  |  |  |  |  |  |  |  |  |  |
In millions |  | Aaa |  |  | Aa |  |  | A |  |  | Baa |  |  | Investment Grade |  |  | Not Rated |  |  | Total |
Mortgage- backed Securities |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
RMBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized |  | $ | 49 |  |  | $ | - |  |  | $ | 24 |  |  | $ | (3) |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |  |  | $ | - |  |  | $ | 34 |  |  | $ | (3) |  |  | $ | 15 |  |  | $ | (9) |  |  | $ | 123 |  |  | $ | (15) |
Home equity |  |  | 2 |  |  |  | - |  |  |  | 58 |  |  |  | (13) |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 57 |  |  |  | (27) |  |  |  | - |  |  |  | - |  |  |  | 118 |  |  |  | (40) |
Pass-through securities |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3 |  |  |  | - |
Other |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | (3) |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | (3) |
CMBS |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 26 |  |  |  | (4) |  |  |  | 4 |  |  |  | (1) |  |  |  | - |  |  |  | - |  |  |  | 32 |  |  |  | (5) |
Total |  | $ | 54 |  |  | $ | - |  |  | $ | 90 |  |  | $ | (19) |  |  | $ | 3 |  |  | $ | - |  |  | $ | 27 |  |  | $ | (4) |  |  | $ | 95 |  |  | $ | (31) |  |  | $ | 15 |  |  | $ | (9) |  |  | $ | 284 |  |  | $ | (63) |
Fair Values And Gross Unrealized Losses By Credit Rating Category Of Corporate Obligations |
In millions |  | Aaa |  |  | Aa |  |  | A |  |  | Baa |  |  | Below Investment Grade |  |  | Not Rated |  |  | Total |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Corporate Obligations |  | $ | 4 |  |  | $ | - |  |  | $ | 39 |  |  | $ | - |  |  | $ | 130 |  |  | $ | (6) |  |  | $ | 107 |  |  | $ | (9) |  |  | $ | 13 |  |  | $ | (4) |  |  | $ | 12 |  |  | $ | (12) |  |  | $ | 305 |  |  | $ | (31) |
Held To Maturity Securities In Continuous Unrealized Loss Position |
|  | June 30, 2012 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
In millions |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other asset-backed securities |  | $ | - |  |  | $ | - |  |  | $ | 2,361 |  |  | $ | (160) |  |  | $ | 2,361 |  |  | $ | (160) |
Total |  | $ | - |  |  | $ | - |  |  | $ | 2,361 |  |  | $ | (160) |  |  | $ | 2,361 |  |  | $ | (160) |
|  | December 31, 2011 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
In millions |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other asset-backed securities |  | $ | 284 |  |  | $ | (31) |  |  | $ | 2,185 |  |  | $ | (340) |  |  | $ | 2,469 |  |  | $ | (371) |
Total |  | $ | 284 |  |  | $ | (31) |  |  | $ | 2,185 |  |  | $ | (340) |  |  | $ | 2,469 |  |  | $ | (371) |
Investment Securities Whose Book Value Exceeded Market Value By More Than 5% |
Percentage Book Value Exceeded Market Value |  | Number of Securities |  |  | Book Value (in millions) |  |  | Fair Value (in millions) |
Greater than 5% to less than 16% |  |  | 39 |  |  | $ | 1,784 |  |  | $ | 1,615 |
16% to less than 26% |  |  | 19 |  |  |  | 159 |  |  |  | 124 |
26% to 50% |  |  | 39 |  |  |  | 170 |  |  |  | 105 |
Greater than 50% |  |  | 34 |  |  |  | 99 |  |  |  | 22 |
Total |  |  | 131 |  |  | $ | 2,212 |  |  | $ | 1,866 |
Securities Held In Unrealized Loss Position And Insured By Financial Guarantor And The Related Insurance Loss Reserve On Company Insured Investments |
In millions |  | Fair Value |  |  | Unrealized Loss |  |  | Insurance Loss Reserve (2) |
Asset-backed: |  |  |  |  |  |  |  |  |  |  |  |
MBIA(1) |  | $ | 147 |  |  | $ | (68) |  |  | $ | 18 |
Other |  |  | 31 |  |  |  | (9) |  |  |  | - |
Total asset-backed |  |  | 178 |  |  |  | (77) |  |  |  | 18 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
MBIA(1) |  |  | 11 |  |  |  | (1) |  |  |  | - |
Other |  |  | 189 |  |  |  | (50) |  |  |  | - |
Total mortgage-backed |  |  | 200 |  |  |  | (51) |  |  |  | - |
Corporate obligations: |  |  |  |  |  |  |  |  |  |  |  |
MBIA(1) |  |  | - |  |  |  | - |  |  |  | - |
Other |  |  | 9 |  |  |  | (12) |  |  |  | - |
Total corporate obligations |  |  | 9 |  |  |  | (12) |  |  |  | - |
Other: |  |  |  |  |  |  |  |  |  |  |  |
MBIA(1) |  |  | 77 |  |  |  | (11) |  |  |  | - |
Other |  |  | 14 |  |  |  | - |  |  |  | - |
Total other |  |  | 91 |  |  |  | (11) |  |  |  | - |
Total |  | $ | 478 |  |  | $ | (151) |  |  | $ | 18 |
(1) - Includes investments insured by MBIA Corp. and National. (2) - Insurance loss reserve estimates are based on the proportion of par value owned to the total amount of par value insured.
Available For Sale [Member] |
Distribution Of Investments By Contractual Maturity |
|  |  |  |  |  |  |  | Consolidated VIEs |
In millions |  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 870 |  |  | $ | 872 |  |  | $ | 7 |  |  | $ | 7 |
Due after one year through five years |  |  | 834 |  |  |  | 862 |  |  |  | 124 |  |  |  | 132 |
Due after five years through ten years |  |  | 667 |  |  |  | 703 |  |  |  | - |  |  |  | - |
Due after ten years through fifteen years |  |  | 438 |  |  |  | 462 |  |  |  | 81 |  |  |  | 75 |
Due after fifteen years |  |  | 1,564 |  |  |  | 1,677 |  |  |  | 2 |  |  |  | 2 |
Mortgage-backed |  |  | 1,275 |  |  |  | 1,294 |  |  |  | 106 |  |  |  | 87 |
Asset-backed |  |  | 396 |  |  |  | 293 |  |  |  | 138 |  |  |  | 125 |
Total fixed-maturity investments |  | $ | 6,044 |  |  | $ | 6,163 |  |  | $ | 458 |  |  | $ | 428 |
Held To Maturity [Member] |
Distribution Of Investments By Contractual Maturity |
|  |  |  |  |  |  |  | Consolidated VIEs |
In millions |  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Due after one year through five years(1) |  |  | 1 |  |  |  | 1 |  |  |  | - |  |  |  | - |
Due after five years through ten years |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Due after ten years through fifteen years |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Due after fifteen years |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Mortgage-backed |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Asset-backed |  |  | - |  |  |  | - |  |  |  | 3,051 |  |  |  | 2,896 |
Total held-to-maturity investments |  | $ | 1 |  |  | $ | 1 |  |  | $ | 3,051 |  |  | $ | 2,896 |
(1) - Relates to tax credit investments reported in “Other investments” on the Company’s consolidated balance sheets.

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