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Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Premiums, fees and reimbursements received $ 223 $ 278
Investment income received 459 499
Insured derivative losses and commutations paid (463) (683)
Financial guarantee losses and loss adjustment expenses paid (620) (778)
Proceeds from reinsurance and recoveries 131 144
Operating and employee related expenses paid (300) (244)
Interest paid (377) (470)
Income taxes (paid) received (8) 54
Net cash provided (used) by operating activities (955) (1,200)
Cash flows from investing activities:    
Purchase of fixed-maturity securities (2,032) (5,590)
Sale and redemption of fixed-maturity securities 4,283 7,096
Proceeds from paydowns on variable interest entity loans 203 223
Redemptions of held-to-maturity investments 828 153
Sale (purchase) of short-term investments, net 335 968
Sale (purchase) of other investments, net 109 26
Consolidation (deconsolidation) of variable interest entities, net (51) (16)
(Payments) proceeds for derivative settlements (266) (66)
Collateral (to) from swap counterparty (298)  
Capital expenditures (5) (3)
Net cash provided (used) by investing activities 3,106 2,791
Cash flows from financing activities:    
Proceeds from issuance of investment agreements 52 89
Payments for drawdowns of investment agreements (629) (453)
Issuance of medium-term notes 18 17
Principal paydowns of medium-term notes (74) (107)
Principal paydowns of variable interest entity notes (1,059) (829)
Payments for securities sold under agreements to repurchase (287) (84)
Payments for retirement of debt (364) (72)
Purchase of treasury stock   (50)
Contribution from noncontrolling interest and redemption of subsidiary preferred stock, net (1) 9
Restricted stock awards settlements, net 1 (2)
Net cash provided (used) by financing activities (2,343) (1,482)
Net increase (decrease) in cash and cash equivalents (192) 109
Cash and cash equivalents-beginning of period 633 1,130
Cash and cash equivalents-end of period 441 1,239
Reconciliation of net income (loss) to net cash provided (used) by operating activities:    
Net income (loss) 598 (693)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Premiums receivable 98 182
Deferred acquisition costs 35 48
Unearned premium revenue (443) (495)
Loss and loss adjustment expense reserves 109 (198)
Insurance loss recoverable (270) (239)
Current income taxes (11) 74
Net investment losses related to other-than-temporary impairments 105 44
Unrealized (gains) losses on insured derivatives (1,473) 531
Net (gains) losses on financial instruments at fair value and foreign exchange 35 111
Deferred income tax provision (benefit) 163 (497)
(Gains) losses on extinguishment of debt (49) (26)
Other operating 148 (42)
Total adjustments to net income (loss) (1,553) (507)
Net cash provided (used) by operating activities $ (955) $ (1,200)