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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Assets    
Cash and cash equivalents $ 441 $ 633
Insurance Loss Recoverable 3,316 3,046
Deferred income taxes, net 1,400  
Total assets 22,132 26,873
Liabilities:    
Total liabilities 19,545 25,150
Commitments and contingencies (See Note 13)      
Equity:    
Preferred stock, par value $1 per share; authorized shares-10,000,000; issued and outstanding-none      
Common stock, par value $1 per share; authorized shares-400,000,000; issued shares-275,455,099 and 274,896,162 275 275
Additional paid-in capital 3,072 3,072
Retained earnings 1,403 805
Accumulated other comprehensive income (loss), net of deferred tax of $24 and $105 90 (176)
Treasury stock, at cost-81,729,792 and 81,752,966 shares (2,275) (2,276)
Total shareholders' equity of MBIA Inc. 2,565 1,700
Preferred stock of subsidiary and noncontrolling interest 22 23
Total equity 2,587 1,723
Total liabilities and equity 22,132 26,873
Non Variable Interest Entities [Member]
    
Assets    
Fixed-maturity securities held as available-for-sale, at fair value 4,634 6,177
Fixed-maturity securities at fair value 237 295
Investments pledged as collateral, at fair value (amortized cost $424 and $642) 350 543
Short-term investments held as available-for-sale, at fair value (amortized cost $1,440 and $1,577) 1,445 1,571
Other investments (includes investments at fair value of $16 and $96) 27 107
Total investments 6,693 8,693
Cash and cash equivalents 298 473
Premiums receivable 1,280 1,360
Deferred acquisition costs 317 351
Insurance Loss Recoverable 3,316 3,046
Property and equipment, at cost (less accumulated depreciation of $144 and $139) 69 69
Deferred income taxes, net 1,446 1,745
Other assets 414 243
Liabilities:    
Unearned premium revenue 3,091 3,515
Loss and Loss Adjustment Expense Reserves 945 836
Investment agreements 993 1,578
Medium-term notes (includes financial instruments carried at fair value of $168 and $165) 1,606 1,656
Securities sold under agreements to repurchase   287
Long-term debt 1,836 1,840
Derivative liabilities 3,332 5,164
Other liabilities 467 391
Variable Interest Entity [Member]
    
Assets    
Cash 143 160
Investments held-to-maturity, at amortized cost (fair value $2,867 and $3,489) 3,015 3,843
Fixed-maturity securities held as available-for-sale, at fair value 442 432
Fixed-maturity securities at fair value 1,754 2,884
Loans receivable at fair value 1,892 2,046
Loan repurchase commitments 1,051 1,077
Derivative assets   450
Other assets 2 1
Total assets 8,200 10,900
Liabilities:    
Variable interest entity notes (includes financial instruments carried at fair value of $3,626 and $4,754) 7,094 8,697
Long-term debt   360
Derivative liabilities 180 825
Other liabilities 1 1
Total liabilities $ 7,200 $ 9,900