<SEC-DOCUMENT>0001157523-14-000930.txt : 20140303
<SEC-HEADER>0001157523-14-000930.hdr.sgml : 20140303
<ACCEPTANCE-DATETIME>20140303172122
ACCESSION NUMBER:		0001157523-14-000930
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140303
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140303
DATE AS OF CHANGE:		20140303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MBIA INC
		CENTRAL INDEX KEY:			0000814585
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		IRS NUMBER:				061185706
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09583
		FILM NUMBER:		14661543

	BUSINESS ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
		BUSINESS PHONE:		914-273-4545

	MAIL ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50815100.htm
<DESCRIPTION>MBIA INC. 8-K
<TEXT>
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      <br>
      <font style="font-size: 18pt"><b>UNITED STATES</b></font><br><font style="font-family: Times New Roman; font-size: 18pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-family: Times New Roman; font-size: 14pt"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Pursuant
      to Section 13 or 15(d) of</font><br><font style="font-family: Times New Roman; font-size: 10pt">
      the Securities Exchange Act of 1934</font><br><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported): March 3, 2014</font><br><br><font style="font-size: 18pt"><b>MBIA
      INC.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Connecticut</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 34%; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-9583</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>06-1185706</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 33%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            incorporation)
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 34%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 33%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 50%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>113 King Street,<br>Armonk, New York</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 50%; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>10504</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 50%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 50%; text-align: center">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code:</font><br><b>914-273-4545</b><br><br><br><b>Not
      Applicable</b><br><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font><br><br><br>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <hr style="height: 1.0 pt; color: #000000; width: 100%; text-align: center">


    <p>

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 2.02. &#160;RESULTS OF OPERATIONS AND FINANCIAL CONDITION.</b>
    </p>
    <p>
      The following information, including Exhibit 99.1 to this Form 8-K, is
      being furnished, not filed, pursuant to Item 2.02 - Results of
      Operations and Financial Condition of Form 8-K.
    </p>
    <p>
      On March 3, 2014, MBIA Inc. (&#8220;MBIA&#8221;) issued a press release announcing
      its results of operations for the fourth quarter and full year ended
      December 31, 2013.&#160;&#160;A copy of the press release is attached as Exhibit
      99.1 to this Form 8-K and is incorporated by reference to this Item 2.02
      as if fully set forth herein.<br><br><br><b>Item 7.01.&#160;&#160;REGULATION FD
      DISCLOSURE.</b>
    </p>
    <p>
      The following information is being furnished, not filed, pursuant to
      Item 7.01 - Regulation FD Disclosure of Form 8-K.&#160;&#160;Information contained
      on MBIA&#8217;s Web sites is not incorporated by reference into this Current
      Report on Form 8-K.
    </p>
    <p>
      On March 3, 2014, MBIA will post on its Web site, www.mbia.com, under
      the section &#8220;Selected Exposures,&#8221; certain information on MBIA Insurance
      Corporation&#8217;s structured finance insured portfolio and non-U.S. public
      finance insured portfolio as of December 31, 2013.&#160;&#160;The information will
      be posted as &#8220;MBIA Insurance Corporation&#8217;s Structured Finance Insured
      Portfolio&#8221; and &#8220;MBIA Insurance Corporation&#8217;s Non-U.S. Public Finance
      Insured Portfolio.&#8221; In addition, on National Public Finance Guarantee
      Corporation&#8217;s Web site, www.nationalpfg.com, under the section &#8220;Insured
      Portfolio,&#8221; certain information on its insured portfolio will be posted
      as &#8220;National Public Finance Guarantee Corporation&#8217;s Insured Portfolio&#8221;
      as of December 31, 2013.&#160;&#160;
    </p>
    <p>
      MBIA will also post on its Web site, www.mbia.com, under the section
      &#8220;Investor Relations &#8211; Financial Information &#8211; Operating Supplements&#8221; a
      Quarterly Operating Supplement for the fourth quarter of 2013;&#160;&#160;under
      the section &#8220;Investor Relations &#8211; Investor Inquiries/FAQs&#8221; revised
      Frequently Asked Questions on or about March 3, 2014; and under the
      section &#8220;Investor Relations &#8211; Financial Information &#8211; Statutory
      Statements&#8221; the 2013 Annual Statements and 2013 audited Statutory-Basis
      Financial Statements for each of MBIA Insurance Corporation and National
      Public Finance Guarantee Corporation.<br><br><br><b>Item
      9.01.&#160;&#160;FINANCIAL STATEMENTS AND EXHIBITS.</b>
    </p>
    <p style="white-space: nowrap">

    </p>
    <p style="white-space: nowrap">
      99.1&#160;&#160;Press Release issued by MBIA Inc., dated March 3, 2014, announcing
      its results of operations for the fourth quarter and full year ended
      December 31, 2013.
    </p>
    <p>

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
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        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            MBIA INC.
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">

        </td>
        <td style="width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">

        </td>
        <td style="width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 5%; padding-bottom: 2.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 45%; padding-bottom: 2.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 3%; padding-bottom: 2.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Ram D. Wertheim
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 37%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Ram D. Wertheim
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 37%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Legal Officer
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 37%">

        </td>
        <td style="width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 45%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            March 3, 2014
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 37%">

        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K</b><br>Dated <font style="font-family: Times New Roman; font-size: 10pt">March
      3, 2014</font><br><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto">
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 10%; white-space: nowrap; padding-right: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 90%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release issued by MBIA Inc., dated March 3, 2014, announcing
            its results of operations for the fourth quarter and full year
            ended December 31, 2013.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50815100ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <u><font style="font-family: Times New Roman; font-size: 12pt"><b>MBIA
      Inc. Reports Fourth Quarter and Full Year 2013 Financial Results</b></font></u>
    </p>
    <p>
      ARMONK, N.Y.--(BUSINESS WIRE)--March 3, 2014--MBIA Inc. (NYSE: MBI) (the
      Company) today reported an adjusted pre-tax loss (a non-GAAP measure
      defined in the attached Explanation of Non-GAAP Financial Measures) of
      $84 million for the fourth quarter of 2013 compared with adjusted
      pre-tax income of $110 million for the fourth quarter of 2012. MBIA Inc.
      recorded consolidated net income of $132 million, or $0.68 per diluted
      share, for the fourth quarter of 2013 compared with consolidated net
      income of $636 million, or $3.26 per diluted share, for the fourth
      quarter of 2012.
    </p>
    <p>
      The Company&#8217;s consolidated adjusted pre-tax loss for the year ended
      December 31, 2013 was $452 million compared with an adjusted pre-tax
      loss of $708 million in 2012. The Company recorded consolidated net
      income of $250 million, or $1.29 per diluted common share for the year
      ended December 31, 2013, compared with consolidated net income of $1.2
      billion, or $6.33 per diluted common share, for the same period of 2012.
      Adjusted Book Value (ABV) per share (a non-GAAP measure defined in the
      attached Explanation of Non-GAAP Financial Measures) was $27.78 as of
      December 31, 2013 compared with $30.68 as of December 31, 2012.
    </p>
    <p>
      &#8220;During 2013, we made very substantial progress towards moving beyond
      the effects of the financial crisis,&#8221; said MBIA Inc. President and Chief
      Financial Officer Chuck Chaplin. &#8220;The primary litigation over the
      reorganization of our insurance businesses was finally and favorably
      resolved. The financial positions of MBIA Corp. and MBIA UK were
      significantly stabilized by the collection of over 90 percent of the
      &#8220;putback&#8221; recoverable on the year-end 2012 balance sheet and the
      commutation of $20 billion of potentially volatile liabilities. The
      intercompany loan between National and MBIA Corp. was repaid, clearing a
      major hurdle to the re-establishment of National&#8217;s position in the
      municipal bond insurance business. We now await actions by the rating
      agencies in recognition of these significant accomplishments. We expect
      that National will be the primary driver of shareholder value going
      forward.&#8221;
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;Since the third quarter, we have seen a continued trend toward lower
      volatility,&#8221; Mr. Chaplin continued. &#8220;After the fourth quarter ended, we
      saw the commutation or termination of nearly $6 billion of exposure
      related to CMBS and corporate CDOs, including the previously announced
      commutation of $3 billion of potentially highly volatile CMBS
      transactions. Although we recorded approximately $162 million of
      economic losses on insured exposures in the quarter, including the cost
      of the commutation, we removed a substantial amount of risk and improved
      the stability of our structured finance book of business. National&#8217;s
      earnings were consistent with expectations after disappointing results
      in the second and third quarters. Across the entire organization, cost
      reductions associated with reduced litigation, debt and staffing levels
      favorably impacted results in the fourth quarter.&#8221;
    </p>
    <p>
      <b>Fourth Quarter 2013 Results</b>
    </p>
    <p>
      The decline in adjusted pre-tax income for the three months ended
      December 31, 2013 compared with the same period of 2012 was driven
      primarily by greater losses and loss adjustment expenses (LAE) on
      insured exposures, lower net gains on financial instruments at fair
      value and foreign exchange, and lower net premiums earned, partially
      offset by lower operating expenses. The lower net gains on financial
      instruments at fair value and foreign exchange were primarily the result
      of lower gains on sales of investments and unfavorable changes in the
      value of outstanding warrants, partially offset by lower foreign
      exchange losses and favorable changes in the value of interest rate
      swaps in the Asset Liability Management (ALM) asset portfolio. ABV and
      adjusted pre-tax income (loss) provide investors with alternative views
      of the Company&#8217;s operating results that management finds useful in
      measuring financial performance. Reconciliations of ABV to book value
      (BV) calculated in accordance with GAAP and adjusted pre-tax income
      (loss) to pre-tax income (loss) calculated in accordance with GAAP are
      attached.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The decline in reported consolidated net income was primarily due to a
      benefit to loss and loss adjustment expenses in the fourth quarter of
      2012 that was not repeated in 2013, as well as lower unrealized gains on
      insured derivatives. Consolidated total revenues for the three months
      ended December 31, 2013 included $215 million of unrealized net gains on
      the fair value of insured derivatives compared with $397 million of
      unrealized net gains for the same period of 2012. The unrealized net
      gains on the fair value of insured derivatives in the fourth quarter of
      2013 were principally the result of the effects of improvements in the
      value of underlying reference obligations. The unrealized net gains on
      insured credit derivatives in the fourth quarter of 2012 resulted from a
      less favorable market perception of MBIA Insurance Corporation's (MBIA
      Corp.) credit quality, shorter weighted average lives due to the passage
      of time, favorable movements in credit spreads and pricing on collateral
      within the transactions, partially offset by collateral erosion. The
      Company is required to adjust the values of its insured credit
      derivatives for the market's perception of its nonperformance risk. A
      decrease in the value of the insured credit derivative liability
      attributable to an increase in nonperformance risk is reflected as an
      unrealized gain, while an increase in the value of the insured credit
      derivative liability attributable to a decline in nonperformance risk is
      reflected as an unrealized loss in the income statement. Consolidated
      total expenses for the three months ended December 31, 2013 included $25
      million of net insurance loss and loss adjustment expenses compared with
      a benefit of $280 million for the same period of 2012. The benefit to
      loss and loss adjustment expenses in the fourth quarter of 2012 was
      driven by increased expectations of recoveries related to ineligible
      mortgage loans in insured securitizations.
    </p>
    <p>
      <b>Full Year 2013 Results</b>
    </p>
    <p>
      The reduction in the adjusted pre-tax loss for the year ended December
      31, 2013 was primarily due to a decrease in insurance losses and LAE,
      lower net investment losses related to other-than-temporary impairments
      and higher net gains on the extinguishment of debt, partially offset by
      lower premiums earned and lower net investment income.
    </p>
    <p>
      Consolidated total revenues for the year ended December 31, 2013
      included $232 million of net gains on insured derivatives compared with
      $1.5 billion of net gains for 2012. The net gains on insured derivatives
      in 2013 were principally the result of changes in the weighted average
      life on transactions, commuting derivative liabilities at prices below
      their fair values and favorable changes in spreads and pricing on
      collateral, partially offset by the effects of MBIA Corp.&#8217;s
      nonperformance risk on its derivative liabilities. The net gains on
      insured derivatives in 2012 were principally associated with the effects
      of MBIA Corp.&#8217;s nonperformance risk on its derivative liabilities,
      commuting derivative liabilities at prices below their fair values and
      favorable movements in spreads and pricing on collateral. Consolidated
      total expenses for the year ended December 31, 2013 included $117
      million of net insurance loss and LAE compared with $50 million for
      2012. The increase in net insurance loss and LAE in 2013 when compared
      with 2012 was principally related to increases in losses related to
      certain U.S. public finance transactions. In addition, consolidated
      total expenses for 2013 included expenses of approximately $97 million
      related to settlement, consulting and legal expenses associated with the
      resolution of litigation matters and settlements.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>U.S. Public Finance Insurance Results</b>
    </p>
    <p>
      The Company&#8217;s U.S. public finance insurance business is primarily
      conducted through its National Public Finance Guarantee Corporation
      (National) subsidiary. The U.S. public finance insurance segment
      recorded $89 million of pre-tax income in the fourth quarter of 2013
      compared with $202 million of pre-tax income in the fourth quarter of
      2012. The decline in pre-tax income in the fourth quarter of 2013
      compared with the same period of 2012 was driven by $74 million of net
      gains on asset sales in the fourth quarter of 2012 that did not recur in
      the fourth quarter of 2013, a decline in total premiums earned due to
      lower market refunding activity and portfolio amortization, and lower
      net investment income due to lower average yields on the investment
      portfolio following the repayment of the secured loan that National had
      extended to MBIA Corp.
    </p>
    <p>
      National had qualified statutory capital of $3.3 billion and
      claims-paying resources totaling $5.3 billion as of December 31, 2013.
    </p>
    <p>
      <b>Structured Finance and International Insurance Results</b>
    </p>
    <p>
      The structured finance and international insurance business is primarily
      conducted through MBIA Corp. and its subsidiaries.
    </p>
    <p>
      The structured finance and international insurance segment had pre-tax
      income of $224 million in the fourth quarter of 2013, compared with
      pre-tax income of $715 million in the fourth quarter of 2012. Pre-tax
      income in the fourth quarter of 2013 declined compared with the fourth
      quarter of 2012 primarily due to an increase in financial guarantee
      insurance losses and lower net gains on the fair value of insured
      derivatives. Financial guarantee losses and LAE totaled $25 million in
      the fourth quarter of 2013, compared with a net benefit of $286 million
      in the fourth quarter of 2012 that resulted from increased expectations
      of recoveries related to ineligible mortgage loans in insured
      securitizations.
    </p>
    <p>
      The structured finance and international insurance segment had an
      adjusted pre-tax loss of $159 million for the fourth quarter of 2013
      compared with an adjusted pre-tax loss of $13 million for the fourth
      quarter of 2012. The adjusted pre-tax loss increased principally due to
      greater losses on insured exposures and lower net gains on financial
      instruments at fair value and foreign exchange, partially offset by
      lower interest expense resulting from the repayment in full of the
      National Secured Loan in May of 2013.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The following is a summary of MBIA Corp.&#8217;s insured portfolio economic
      loss (a non-GAAP measure defined in the attached Explanation of Non-GAAP
      Financial Measures) activity in the fourth quarter:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="18" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>4Q 2013 Economic Loss (Benefit) Activity</b>
        </td>
      </tr>
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Second-</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>First-</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Lien</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Lien</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>ABS</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          ($ in millions)
        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>RMBS</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>RMBS</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>CDO</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>CMBS</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Other</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Total</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Increase (Decrease) in Expected Payments
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $28
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <p style="margin-bottom: 0px; margin-top: 0px">
            $(68)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $99
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $(15)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $100
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          (Increase) Decrease in Expected Salvage
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          56
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (8)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          62
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Total Economic Losses (Benefit)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>$84</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>$(67)</b>
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>$48</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>$109</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>$(12)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>$162</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Losses, credit impairments (a non-GAAP measure defined in the attached
      Explanation of Non-GAAP Financial Measures) and loss-related expenses on
      insured exposures totaled $162 million in the fourth quarter of 2013,
      compared with $38 million in the fourth quarter of 2012. Economic losses
      in the fourth quarter of 2013 were driven primarily by the cost of a
      commutation in excess of third quarter loss reserves and changes to
      interest rate assumptions used in estimating losses. The commutation
      removed $3 billion of CMBS exposure comprised of originally single-A
      rated collateral. MBIA Corp. has approximately $760 million of CMBS
      exposure remaining in which the reference obligations were originally
      rated triple-B, of which approximately $391 million is expected to
      generate losses in the next few years and for which MBIA Corp. has
      established statutory loss reserves. In addition, it has $3.3 billion of
      insured exposure where the underlying reference obligations are
      originally triple-A rated CMBS.
    </p>
    <p>
      As of December 31, 2013, MBIA Corp.&#8217;s statutory balance sheet reflected
      $883 million in cash and invested assets. Cash, short-term investments
      and other highly liquid investments available to meet liquidity demands,
      excluding amounts held by subsidiaries, totaled $827 million. The
      Company believes MBIA Corp.&#8217;s current liquidity position, together with
      future cash inflows, is adequate to make expected future claim payments.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      MBIA Corp. had qualified statutory capital of $825 million and
      claims-paying resources totaling $3.5 billion as of December 31, 2013.
    </p>
    <p>
      <b>Advisory Services</b>
    </p>
    <p>
      The Company&#8217;s Advisory Services business is primarily conducted in its
      Cutwater Asset Management subsidiary. The Advisory Services segment
      recorded a pre-tax loss of $2 million in the fourth quarter of 2013
      compared with pre-tax income of $1 million in the fourth quarter of
      2012. The pre-tax loss in the fourth quarter of 2013 was driven
      primarily by lower fees due to declines in assets under management.
    </p>
    <p>
      <b>MBIA Inc. Holding Company</b>
    </p>
    <p>
      MBIA Inc. contains the Corporate segment and Wind-down Operations.
      General corporate activities are conducted through the Corporate
      segment. The Company&#8217;s corporate operations primarily consist of holding
      company activities, including its shared services company. The Company&#8217;s
      Wind-down Operations comprise its ALM and Conduit segments, both of
      which are in run-off.
    </p>
    <p>
      The Corporate segment recorded a pre-tax loss of $31 million in the
      fourth quarter of 2013 compared with a pre-tax loss of $13 million in
      the fourth quarter of 2012. The increase in the Corporate segment's
      pre-tax loss was primarily driven by a reduction in fees from
      affiliates, partially offset by lower compensation and consulting
      expenses. The fees for affiliate services may vary significantly from
      period to period.
    </p>
    <p>
      The Company&#8217;s Wind-down Operations recorded pre-tax income of $13
      million in the fourth quarter of 2013 compared with a pre-tax loss of
      $51 million in the fourth quarter of 2012. The favorable change in
      pre-tax income in the fourth quarter of 2013 compared with the fourth
      quarter of 2012 was driven by lower operating expenses of consolidated
      variable interest entities (VIEs), net gains on financial instruments at
      fair value and foreign exchange compared with net losses in the fourth
      quarter of 2012, and greater net gains on the extinguishment of debt in
      2013. The lower operating expenses of consolidated VIEs resulted from
      lower fees paid to the Corporate segment. The net gains on financial
      instruments at fair value and foreign exchange resulted from foreign
      exchange gains in the fourth quarter of 2013 compared with losses in the
      comparable period of 2012, and greater gains on interest rate swaps in
      the ALM asset portfolio in the fourth quarter of 2013 compared with the
      fourth quarter of 2012.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      As of December 31, 2013, MBIA Inc. had liquidity of $359 million
      comprising cash and liquid assets of $307 million held in the Corporate
      segment available for general corporate liquidity purposes and $52
      million not pledged directly as collateral held in the asset/liability
      products segment. MBIA Inc. seeks to maintain sufficient liquidity and
      capital resources to meet its general corporate needs as well as the
      needs of the asset/liability products operations. These amounts exclude
      the amounts held in escrow under its tax sharing agreement, $160 million
      of which was released to MBIA Inc. in January 2014. The Company&#8217;s
      consolidated net operating loss (NOL) carryforward as of December 31,
      2013 was $2.7 billion. The Company expects to fully utilize the NOL
      carryforward prior to its expiration.
    </p>
    <p>
      <b>Conference Call</b>
    </p>
    <p>
      The Company will host a webcast and conference call for investors
      tomorrow, Tuesday, March 4, 2014 at 8:00 AM (EST) to discuss its fourth
      quarter and full year 2013 financial results and other matters relating
      to the Company. The webcast and conference call will consist of brief
      remarks followed by a question and answer session.
    </p>
    <p>
      The dial-in number for the call is (877) 694-4769 in the U.S. and (404)
      665-9935 from outside the U.S. The conference call code is 75954370. A
      live webcast of the conference call will also be accessible on <u>www.mbia.com</u>.
    </p>
    <p>
      A replay of the call will be available approximately two hours after the
      completion of the call on March 4 until 11:59 p.m. on March 18 by
      dialing (800) 585-8367 in the U.S. or (404) 537-3406 from outside the
      U.S. The replay call code is also 75954370. In addition, a recording of
      the call will be available on the Company's website approximately two
      hours after the completion of the call.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      The information contained in this press release should be read in
      conjunction with our filings made with the Securities and Exchange
      Commission. This release includes statements that are not historical or
      current facts and are &#8220;forward-looking statements&#8221; made pursuant to the
      safe harbor provisions of the Private Securities Litigation Reform Act
      of 1995. The words &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;expect,&#8221;
      &#8220;intend,&#8221; &#8220;will likely result,&#8221; &#8220;looking forward&#8221; or &#8220;will continue,&#8221;
      and similar expressions identify forward-looking statements. These
      statements are subject to certain risks and uncertainties that could
      cause actual results to differ materially from historical earnings and
      those presently anticipated or projected, including, among other risks
      and uncertainties, the possibility that the Company will experience
      increased credit losses or impairments on public finance obligations we
      insure issued by state, local and territorial governments and finance
      authorities that are experiencing unprecedented fiscal stress, the
      possibility that MBIA Corp. will have inadequate liquidity to pay
      expected claims as a result of increased losses on certain structured
      finance transactions, in particular residential mortgage-backed
      securities transactions that include a substantial number of ineligible
      mortgage loans, or a delay or failure in collecting expected recoveries,
      the possibility that loss reserve estimates are not adequate to cover
      potential claims, a disruption in the cash flow from our subsidiaries or
      an inability to access capital and our exposure to significant
      fluctuations in liquidity and asset values within the global credit
      markets as a result of collateral posting requirements, our ability to
      fully implement our strategic plan, including our ability to achieve
      high stable ratings for National and generate investor demand for our
      financial guarantees, deterioration in the economic environment and
      financial markets in the United States or abroad, and adverse
      developments in European sovereign credit performance, real estate
      market performance, credit spreads, interest rates and foreign currency
      levels, the effects of governmental regulation, including insurance
      laws, securities laws, tax laws, legal precedents and accounting rules;
      and uncertainties that have not been identified at this time. These and
      other factors that could affect financial performance or could cause
      actual results to differ materially from estimates contained in or
      underlying the Company&#8217;s forward-looking statements are discussed under
      the &#8220;Risk Factors&#8221; section in MBIA Inc.&#8217;s most recent Annual Report on
      Form 10-K, which may be updated or amended in the Company&#8217;s subsequent
      filings with the Securities and Exchange Commission. The Company
      cautions readers not to place undue reliance on any such forward-looking
      statements, which speak only to their respective dates. The Company
      undertakes no obligation to publicly correct or update any
      forward-looking statement if it later becomes aware that such result is
      not likely to be achieved.
    </p>
    <p>
      MBIA Inc., headquartered in Armonk, New York is a holding company whose
      subsidiaries provide financial guarantee insurance, as well as related
      reinsurance, advisory and portfolio services, for the public and
      structured finance markets, and asset management advisory services.
      Please visit MBIA's website at <u>www.mbia.com</u>.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Explanation of Non-GAAP Financial Measures</b>
    </p>
    <p>
      The following are explanations of why the Company believes that the
      non-GAAP financial measures used in this press release, which serve to
      supplement GAAP information, are meaningful to investors.
    </p>
    <p>
      <b>Adjusted Book Value:</b> Adjusted Book Value (ABV), a non-GAAP
      measure, is used by the Company to supplement its analysis of GAAP book
      value. The Company uses ABV as a measure of fundamental value and
      considers the change in ABV an important measure of periodic financial
      performance. ABV adjusts GAAP book value to remove the impact of certain
      items which the Company believes will reverse over time, as well as to
      add in the impact of certain items which the Company believes will be
      realized in GAAP book value in future periods. The Company has limited
      such adjustments to those items that it deems to be important to
      fundamental value and performance and which the likelihood and amount
      can be reasonably estimated. ABV assumes no new business activity. The
      Company has presented ABV to allow investors and analysts to evaluate
      the Company using the same measure that MBIA&#8217;s management regularly uses
      to measure financial performance. ABV is not a substitute for and should
      not be viewed in isolation from GAAP book value.
    </p>
    <p>
      ABV is calculated on a consolidated basis and a segment basis. ABV by
      segment provides information about each segment&#8217;s contribution to
      consolidated ABV and is calculated using the same formula. ABV per share
      represents that amount of ABV allocated to each common share outstanding
      at the measurement date.
    </p>
    <p>
      <b>Adjusted Pre-tax Income (Loss)</b>: Adjusted pre-tax income (loss), a
      non-GAAP measure, is used by the Company to supplement its analysis of
      GAAP pre-tax income (loss). The Company uses adjusted pre-tax income
      (loss) as a measure of fundamental periodic financial performance.
      Adjusted pre-tax income (loss) adjusts GAAP pre-tax income (loss) to
      remove the effects of consolidating insured VIEs and gains and losses
      related to fair valuing insured credit derivatives, which the Company
      believes will reverse over time, and adds in changes in the present
      value of insurance claims the Company expects to pay on insured credit
      derivatives based on its ongoing insurance loss monitoring and loss
      adjustment expenses. Adjusted pre-tax income (loss) is not a substitute
      for and should not be viewed in isolation from GAAP pre-tax income
      (loss) and the Company&#8217;s definition of adjusted pre-tax income (loss)
      may differ from that used by other companies.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Claims-paying Resources (CPR)</b>: CPR is a key measure of the
      resources available to National and MBIA Corp. to pay claims under their
      respective insurance policies. CPR consists of total financial resources
      and reserves calculated on a statutory basis. CPR has been a common
      measure used by financial guarantee insurance companies to report and
      compare resources and continues to be used by MBIA&#8217;s management to
      evaluate changes in such resources. The Company has provided CPR to
      allow investors and analysts to evaluate National and MBIA Corp. using
      the same measure that MBIA&#8217;s management uses to evaluate their resources
      to pay claims under their respective insurance policies. There is no
      directly comparable GAAP measure.
    </p>
    <p>
      <b>Credit Impairments on Insured Derivatives</b>: Credit impairments on
      insured derivatives represent actual net payments for the period plus
      the present value of the Company&#8217;s estimate of expected future net claim
      payments for such transactions, using a discount rate required by
      statutory accounting principles, plus loss adjustment expenses.<b> </b>Since
      the Company&#8217;s insured credit derivatives have similar terms, conditions,
      risks, and economic profiles to its financial guarantee insurance
      policies, the Company evaluates them for impairment periodically in the
      same way that it estimates loss and loss adjustment expenses for its
      financial guarantee insurance policies. Credit impairments on insured
      derivatives are equal to the Company&#8217;s statutory losses and loss
      adjustment expenses for such contracts.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Credit impairments on insured derivatives may differ from the fair
      values recorded in the Company&#8217;s financial statements. The Company
      expects that the majority of its exposure written in derivative form
      will not be settled at fair value. The fair value of an insured
      derivative contract will be influenced by a variety of market and
      transaction-specific factors that may be unrelated to potential future
      claim payments. In the absence of credit impairments or the termination
      of derivatives at losses, the cumulative unrealized losses recorded from
      fair valuing insured derivatives should reverse before or at the
      maturity of the contracts. Contracts also may be settled prior to
      maturity at amounts that may be more or less than their recorded fair
      values. Those settlements can result in realized gains or losses, and
      the reversal of unrealized losses. For these reasons, the Company
      believes its disclosure of credit impairments on insured derivatives
      provides additional meaningful information to investors about potential
      realized losses on these contracts.
    </p>
    <p>
      <b>Economic Losses</b>: Economic losses for a reporting period represent
      the change in the discounted values of net payments without regard to
      the manner in which they are presented in the Company&#8217;s financial
      statements. Economic losses are calculated in accordance with GAAP, with
      the exception of those related to insured credit derivative impairments.
      The amounts reported for insured credit derivative impairments are
      calculated in accordance with U.S. STAT because GAAP does not contain a
      comparable measurement basis for these contracts. Losses and
      recoverables on VIEs that are eliminated in consolidation are included
      because the consolidation of these VIEs does not impact whether or not
      the Company will be required to make payments under insurance contracts.
      As a result of the different accounting bases of amounts, the total
      economic losses represent a non-GAAP measure.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>MBIA INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>CONSOLIDATED BALANCE SHEETS</b>
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="bottom" style="padding-left: 0.0px; text-align: center">
          (In millions except share and per share amounts)
        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>December 31, 2013</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>December 31, 2012</b>
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Assets</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Investments:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Fixed-maturity securities held as available-for-sale, at fair value
          (amortized cost $5,064 and $4,347)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,987
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,485
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Fixed-maturity securities at fair value
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          204
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          244
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Investments pledged as collateral, at fair value (amortized cost
          $483 and $489)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          424
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          443
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Short-term investments held as available-for-sale, at fair value
          (amortized cost $1,203 and $662)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,204
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          669
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; padding-bottom: 2.0px; text-align: left">
          Other investments (includes investments at fair value of $11 and $12)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 40.0px; text-align: left">
          Total investments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6,835
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,862
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Cash and cash equivalents
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,161
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          814
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Premiums receivable
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,051
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,228
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred acquisition costs
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          260
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          302
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Insurance loss recoverable
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          694
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,648
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Property and equipment, at cost (less accumulated depreciation of
          $88 and $146)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          69
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Assets held for sale
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          29
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred income taxes, net
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,109
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,199
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Other assets
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          214
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          268
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Assets of consolidated variable interest entities:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Cash
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          97
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          176
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Investments held-to-maturity, at amortized cost (fair value $2,651
          and $2,674)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,801
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,829
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Investments held as available-for-sale, at fair value (amortized
          cost $136 and $637)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          136
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          625
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Fixed-maturity securities at fair value
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          587
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,735
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Loans receivable at fair value
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,612
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,881
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Loan repurchase commitments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          359
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,086
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; padding-bottom: 2.0px; text-align: left">
          Other assets
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left">
          <b>Total assets</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>16,953</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>21,724</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Liabilities and Equity</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Liabilities:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Unearned premium revenue
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,441
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,938
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Loss and loss adjustment expense reserves
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          641
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          853
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Investment agreements
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          700
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          944
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Medium-term notes (includes financial instruments carried at fair
          value of $203 and $165)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,427
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,598
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Long-term debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,702
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,732
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Derivative liabilities
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,152
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,934
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Other liabilities
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          294
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          245
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Liabilities of consolidated variable interest entities:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Variable interest entity notes (includes financial instruments
          carried at fair value of $2,356 and $3,659)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,286
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,124
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Derivative liabilities
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          162
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          <b>Total liabilities</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>13,654</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>18,530</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Equity:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Preferred stock, par value $1 per share; authorized
          shares--10,000,000; issued and outstanding--none
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Common stock, par value $1 per share; authorized
            shares--400,000,000; issued shares--277,812,430 and 277,405,039
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          278
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          277
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Additional paid-in capital
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,115
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,076
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Retained earnings
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,289
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,039
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; text-align: left">
          Accumulated other comprehensive income (loss), net of deferred tax
          of $54 and $21
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (86
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          56
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; padding-bottom: 2.0px; text-align: left">
          Treasury stock, at cost--85,562,546 and 81,733,530 shares
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2,318
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2,275
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 40.0px; text-align: left">
          Total shareholders' equity of MBIA Inc.
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,278
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,173
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 15.0px; padding-bottom: 2.0px; text-align: left">
          Preferred stock of subsidiary and noncontrolling interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          <b>Total equity</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>3,299</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>3,194</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" valign="bottom" style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left">
          <b>Total liabilities and equity</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>16,953</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <b>21,724</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="33" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>MBIA INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>STATEMENTS OF OPERATIONS</b>
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="bottom" style="padding-left: 0.0px; text-align: center">
          (In millions)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Structured</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>U.S. Public</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>Finance and</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>International</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Advisory</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          <b>Three Months Ended December 31, 2013</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Services</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>Wind-down</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(National)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>(MBIA Corp.)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(Cutwater)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Corporate</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Operations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Subtotal</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Eliminations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Revenues:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Premiums earned:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Scheduled premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          32
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          72
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (4
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          68
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Refunding premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (5
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          41
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Total premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          86
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          32
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          118
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (9
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          109
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          32
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          47
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          48
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Fees and reimbursements
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          9
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          47
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (43
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Change in fair value of insured derivatives:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Realized gains (losses) and other
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          settlements on insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Unrealized gains (losses) on
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; padding-bottom: 2.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          215
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          215
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          215
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Net change in fair value of
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 35.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          215
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          218
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          218
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (7
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          15
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net gains (losses) on extinguishment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          of debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Revenues of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          47
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; text-align: left">
          Net gains (losses) on extinguishment of debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; text-align: left">
          Total revenues
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          122
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          327
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          34
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          507
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (49
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          458
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Expenses:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Losses and loss adjustment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          25
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          25
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          25
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Amortization of deferred acquisition costs
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          19
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          39
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (29
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          15
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          33
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          76
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (18
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          58
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          31
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          60
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          57
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Expenses of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          Total expenses
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          33
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          103
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          45
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          214
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (50
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          164
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Pre-tax income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          89
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          224
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (31
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          293
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; text-align: right">
          294
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Provision (benefit) for income taxes
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          162
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Net income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          132
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="35" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>MBIA INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="35" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>STATEMENTS OF OPERATIONS</b>
        </td>
      </tr>
      <tr>
        <td colspan="35" valign="bottom" style="padding-left: 0.0px; text-align: center">
          (In millions)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Structured</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>U.S. Public</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>Finance and</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>International</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Advisory</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Three Months Ended December 31, 2012</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Services</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>Wind-down</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(National)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(MBIA Corp.)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(Cutwater)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Corporate</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Operations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Subtotal</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Eliminations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Revenues:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Premiums earned:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Scheduled premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          53
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          36
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          89
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (8
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          81
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Refunding premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          69
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          69
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (9
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          60
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Total premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          122
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          36
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          158
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (17
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          141
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          67
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (25
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          42
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Fees and reimbursements
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          37
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          44
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          95
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (81
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Change in fair value of insured derivatives:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Realized gains (losses) and other
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          settlements on insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Unrealized gains (losses) on
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; padding-bottom: 2.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          397
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          397
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          397
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Net change in fair value of
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 35.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          410
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          411
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          411
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          78
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (7
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          89
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (16
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          73
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net gains (losses) on extinguishment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          of debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Revenues of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; padding-bottom: 2.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          33
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          33
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          35
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; text-align: left">
          Total revenues
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          253
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          556
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          45
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          869
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (137
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          732
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Expenses:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Losses and loss adjustment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (286
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (280
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (280
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Amortization of deferred acquisition costs
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          28
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          31
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          59
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (45
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          44
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          95
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (21
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          74
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Interest
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          62
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          23
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          99
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (29
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          70
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Expenses of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          26
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          30
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (27
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          Total expenses
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (159
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          58
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          54
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          15
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (122
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (107
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Pre-tax income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          202
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          715
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (13
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (51
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          854
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (15
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; text-align: right">
          839
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Provision (benefit) for income taxes
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          203
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Net income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          636
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="36" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>MBIA INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="36" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>STATEMENTS OF OPERATIONS</b>
        </td>
      </tr>
      <tr>
        <td colspan="36" valign="bottom" style="padding-left: 0.0px; text-align: center">
          (In millions)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Structured</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>U.S. Public</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>Finance and</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>International</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Advisory</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Year Ended December 31, 2013</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Services</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          <b>Wind-down</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(National)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(MBIA Corp.)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(Cutwater)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Corporate</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Operations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Subtotal</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Eliminations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Revenues:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Premiums earned:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Scheduled premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          197
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          143
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          340
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (36
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          304
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Refunding premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          169
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          169
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (16
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          153
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Total premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          366
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          143
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          509
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (52
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          457
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          142
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          24
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          202
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (36
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          166
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Fees and reimbursements
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          85
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          42
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          92
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          226
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (205
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Change in fair value of insured derivatives:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Realized gains (losses) and other
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          settlements on insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1,548
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1,545
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1,545
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Unrealized gains (losses) on
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; padding-bottom: 2.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,777
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,777
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,777
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Net change in fair value of
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 35.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          229
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          232
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          232
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          29
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          28
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (23
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          47
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          22
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          69
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net gains (losses) on extinguishment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          of debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          22
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          22
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          60
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Other net realized gains (losses)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (29
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (29
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (29
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Revenues of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          54
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          56
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          165
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          169
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          175
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on extinguishment of debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Other net realized gains (losses)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (10
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (9
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; text-align: left">
          Total revenues
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          518
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          718
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          43
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          114
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          31
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,424
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (215
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,209
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Expenses:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Losses and loss adjustment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          105
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          117
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          117
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Amortization of deferred acquisition costs
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          78
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          96
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          174
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (128
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          84
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          98
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          60
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          166
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          416
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (78
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          338
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          160
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          48
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          77
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          285
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (49
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          236
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Expenses of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          27
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          39
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (28
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          45
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          45
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          Total expenses
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          267
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          418
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          60
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          214
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          117
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,076
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (283
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          793
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Pre-tax income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          251
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          300
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (17
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (100
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (86
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          348
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          68
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; text-align: right">
          416
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Provision (benefit) for income taxes
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          166
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Net income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          250
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="35" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>MBIA INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="35" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>STATEMENTS OF OPERATIONS</b>
        </td>
      </tr>
      <tr>
        <td colspan="35" valign="bottom" style="padding-left: 0.0px; text-align: center">
          (In millions)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Structured</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>U.S. Public</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance and</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>International</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Advisory</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Year Ended December 31, 2012</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Services</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          <b>Wind-down</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(National)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(MBIA Corp.)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(Cutwater)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Corporate</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Operations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Subtotal</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Eliminations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Revenues:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Premiums earned:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Scheduled premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          221
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          179
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          400
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (28
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          372
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Refunding premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          271
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          271
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (38
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          233
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Total premiums earned
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          492
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          179
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          671
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (66
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          605
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          218
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          28
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          43
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          303
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (89
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          214
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Fees and reimbursements
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          146
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          55
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          177
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          384
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (323
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          61
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Change in fair value of insured derivatives:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Realized gains (losses) and other
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          settlements on insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (407
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (406
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (406
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Unrealized gains (losses) on
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; padding-bottom: 2.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,870
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,870
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,870
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 30.0px; text-align: left">
          Net change in fair value of
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 35.0px; text-align: left">
          insured derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,463
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,464
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,464
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          121
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          18
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (177
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          56
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          55
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Investment losses related to other-than-
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          temporary impairments:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Investment losses related to other-than-
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; text-align: left">
          temporary impairments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (6
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (52
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (58
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (58
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Other-than-temporary impairments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; text-align: left">
          recognized in accumulated
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; padding-bottom: 2.0px; text-align: left">
          other comprehensive income (loss)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (39
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (4
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (4
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (47
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (47
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; text-align: left">
          Net investment losses related to
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 45.0px; text-align: left">
          other-than-temporary impairments
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (45
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (4
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (56
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (105
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (105
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net gains (losses) on extinguishment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 15.0px; text-align: left">
          of debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Other net realized gains (losses)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Revenues of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net investment income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          53
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          64
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          67
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          Net gains (losses) on financial instruments
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; text-align: left">
          at fair value and foreign exchange
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          18
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net gains (losses) on extinguishment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 25.0px; padding-bottom: 2.0px; text-align: left">
          of debt
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          49
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          49
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          49
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; text-align: left">
          Total revenues
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          838
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,871
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          54
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          208
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (127
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,844
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (409
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,435
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Expenses:</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Losses and loss adjustment
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          29
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          50
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          50
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Amortization of deferred acquisition costs
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          103
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          112
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          215
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (165
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          50
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          145
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          135
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          59
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          123
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          478
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (97
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          381
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          237
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          57
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          102
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          396
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (112
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          284
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Expenses of consolidated VIEs:
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; text-align: left">
          Operating
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          98
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          118
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (101
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Interest
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          42
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          55
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          55
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          Total expenses
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          269
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          575
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          59
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          180
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          229
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,312
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (475
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          837
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Pre-tax income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          569
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,296
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (5
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          28
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (356
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,532
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          66
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; text-align: right">
          1,598
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Provision (benefit) for income taxes
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          364
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Net income (loss)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,234
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>MBIA INC. AND SUBSIDIARIES</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>ADJUSTED PRE-TAX INCOME (LOSS) RECONCILIATION</b></u><b><sup>(1)</sup></b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: center">
          (In millions)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="7" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>Three Months Ended December 31,</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="7" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>Years Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2013</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2012</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2013</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Adjusted pre-tax income (loss)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (84
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          110
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (452
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (708
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Additions to adjusted pre-tax income (loss):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Impact of consolidating certain VIEs
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          54
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          73
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          79
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Mark-to-market gains (losses) on insured credit derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          215
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          397
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,777
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,870
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Subtractions from adjusted pre-tax income (loss):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Impairments on insured credit derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (109
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (315
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          982
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (357
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          Pre-tax income (loss)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          294
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          839
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          416
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,598
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>STRUCTURED FINANCE &amp; INTERNATIONAL INSURANCE (MBIA CORP.)</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>ADJUSTED PRE-TAX INCOME (LOSS) RECONCILIATION</b></u><b><sup>(1)</sup></b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: center">
          (In millions)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="7" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Three Months Ended December 31,</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="7" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Years Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2013</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2012</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2013</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Adjusted pre-tax income (loss)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (159
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (13
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (516
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (983
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Additions to adjusted pre-tax income (loss):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Impact of consolidating certain VIEs
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          59
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          52
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Mark-to-market gains (losses) on insured credit derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          215
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          397
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,777
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,870
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Subtractions from adjusted pre-tax income (loss):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Impairments on insured credit derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (109
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (315
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          982
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (357
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          Pre-tax income (loss)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          224
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          715
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          300
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,296
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" valign="bottom" style="padding-left: 0.0px; text-align: left">
          (1) A non-GAAP measure; please see Explanation of Non-GAAP Financial
          Measures.
        </td>
      </tr>
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="19" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>MBIA INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td colspan="7" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Components of Adjusted Book Value per Share:</b></u>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="17" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>As of December 31, 2013</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Structured</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>U.S. Public</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance and</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>International</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Advisory</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Services</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Wind-down</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(National)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(MBIA Corp.)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(Cutwater)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Corporate</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Operations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Book Value per Share</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          19.83
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3.48
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.12
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2.89)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3.49)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17.05
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Adjustments for items included in book value per share (after-tax):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Cumulative net loss from consolidating certain VIEs<sup> (1)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.38
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.38
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Cumulative unrealized loss on insured credit derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3.87
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3.87
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net unrealized (gains) losses included in other comprehensive income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.34
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (0.06)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.08
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.01
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.37
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Adjustments for items not included in book value per share
          (after-tax):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net unearned premium revenue<sup> (2)(3)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4.15
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3.55
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7.70
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Cumulative impairments on insured credit derivatives<sup> (2)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1.59)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1.59)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Adjusted Book Value per Share</b><sup> (4)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          24.32
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          9.63
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.12
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2.81)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3.48)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          27.78
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="17" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>As of December 31, 2012</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Structured</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>U.S. Public</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance and</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Finance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>International</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Advisory</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Insurance</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Services</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Wind-down</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(National)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(MBIA Corp.)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>(Cutwater)</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Corporate</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Operations</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Reported Book Value per Share</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20.33
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2.39
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.12
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3.10)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3.52)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16.22
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Adjustments for items included in book value per share (after-tax):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Cumulative net loss from consolidating certain VIEs<sup> (1)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.59
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.59
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Cumulative unrealized loss on insured credit derivatives
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          9.70
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          9.70
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net unrealized (gains) losses included in other comprehensive income
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (0.35)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (0.39)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.18
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.09
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (0.47)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          Adjustments for items not included in book value per share
          (after-tax):
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net unearned premium revenue<sup> (2)(3)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5.07
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4.42
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          9.49
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 10.0px; text-align: left">
          Cumulative impairments on insured credit derivatives<sup> (2)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (4.85)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          -
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (4.85)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          <b>Adjusted Book Value per Share</b><sup> (4)</sup>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          25.05
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11.86
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.12
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2.92)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3.43)
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          30.68
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(1)</sup>
        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          Represents the impact on consolidated total equity of VIEs that are
          not considered a business enterprise of the Company.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(2)</sup>
        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          The discount rate on financial guarantee installment premiums was
          the risk-free rate as defined by the accounting principles for
          financial guarantee insurance contracts and the discount rate on
          insured derivative installment revenue and impairments was 5.0%.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(3)</sup>
        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          The amounts consist of installment and upfront financial guarantee
          premiums, insured derivative revenue and deferred
          commitment/structuring fees, net of deferred acquisition costs.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(4)</sup>
        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          A non-GAAP measure; please see Explanation of Non-GAAP Financial
          Measures.
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Net Income (Loss) per Common Share:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="6" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Three Months Ended</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="6" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Years Ended</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="6" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>December 31,</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="6" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2012</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: center">

        </td>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.69
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3.27
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1.30
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6.36
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          0.68
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3.26
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1.29
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6.33
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Weighted Average Number of Common Shares Outstanding:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          188,938,224
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          188,877,935
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          189,071,011
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          188,834,626
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          190,204,972
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          189,895,866
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          190,312,913
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          189,897,021
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>INSURANCE OPERATIONS</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Selected Financial Data Computed on a Statutory Basis</b></u>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Dollars in millions)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>National Public Finance Guarantee Corporation</b></u>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>December 31, 2013</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>December 31, 2012</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Policyholders&#8217; surplus
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,086
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,999
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Contingency reserves
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,172
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,249
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Statutory capital
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,258
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,248
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td rowspan="2" valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Unearned premium reserve
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,678
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,041
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Present value of installment premiums<sup> (1)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          226
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          217
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Premium resources<sup> (2)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,904
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,258
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net loss and loss adjustment expense reserves<sup> (1)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (87
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (109
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Salvage reserves
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          177
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          262
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Gross loss and loss adjustment expense reserves
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          90
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          153
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 4.0px; text-align: left">
          Total claims-paying resources
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,252
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,659
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net debt service outstanding
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          435,194
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          519,458
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Capital ratio<sup> (3)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          134:1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          160:1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Claims-paying ratio<sup> (4)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          95:1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          107:1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>MBIA Insurance Corporation</b></u><sup> (5)</sup>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>December 31, 2013</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <b>December 31, 2012</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Policyholders&#8217; surplus
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          403
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          965
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Contingency reserves
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          422
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          493
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Statutory capital
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          825
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,458
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td rowspan="2" valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Unearned premium reserve
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          535
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          600
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Present value of installment premiums<sup> (6)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          850
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,035
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Premium resources<sup> (2)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,385
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,635
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net loss and loss adjustment expense reserves<sup> (6)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          103
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2,448
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Salvage reserves
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,148
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,628
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Gross loss and loss adjustment expense reserves
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,251
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,180
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 4.0px; text-align: left">
          Total claims-paying resources
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,461
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,273
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net debt service outstanding
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          106,385
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          145,763
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Capital ratio<sup> (3)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          129:1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          100:1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Claims-paying ratio<sup> (4)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          36:1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          31:1
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(1)</sup>
        </td>
        <td valign="bottom" style="padding-left: 5.0px; text-align: left">
          At December 31, 2013 and December 31, 2012 the discount rate was
          3.14% and 4.54%, respectively.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(2)</sup>
        </td>
        <td valign="bottom" style="padding-left: 5.0px; text-align: left">
          The amounts consist of financial guarantee premiums and insured
          derivative premiums.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(3)</sup>
        </td>
        <td valign="bottom" style="padding-left: 5.0px; text-align: left">
          Net debt service outstanding divided by statutory capital.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(4)</sup>
        </td>
        <td valign="bottom" style="padding-left: 5.0px; text-align: left">
          Net debt service outstanding divided by the sum of statutory
          capital, unearned premium reserve (after-tax), present value of
          installment premiums (after-tax), net loss and loss adjustment
          expense reserves and salvage reserves.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(5)</sup>
        </td>
        <td valign="bottom" style="padding-left: 5.0px; text-align: left">
          The table reflects MBIA Insurance Corporation including its
          subsidiary MBIA UK limited.
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          <sup>(6)</sup>
        </td>
        <td valign="bottom" style="padding-left: 5.0px; text-align: left">
          At December 31, 2013 and December 31, 2012 the discount rate was
          5.09% and 5.72%, respectively.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>MBIA Inc.</b><br><b>Media:</b><br>Kevin Brown,
      +1-914-765-3648<br>or<br><b>Investor Relations:</b><br>Greg Diamond,
      +1-914-765-3190
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
