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Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Change in fair value of insured derivatives:        
Unrealized gains (losses) on insured derivatives     $ 100 $ 815
Net change in fair value of insured derivatives $ 60 $ (47) 88 422
Net gains (losses) on financial instruments at fair value and foreign exchange 45 61 75 6
Investment losses related to other-than-temporary impairments:        
Net investment losses related to other-than-temporary impairments (7)   (7)  
Net gains (losses) on extinguishment of debt (1) 2 (1) 3
Other net realized gains (losses) (1)   19 1
Total revenues 245 187 464 764
Expenses:        
Losses and loss adjustment 46 12 40 62
Interest 50 52 100 106
Total expenses 153 132 259 305
Income (loss) before income taxes 92 55 205 459
Provision (benefit) for income taxes 28 (65) 72 83
Net income (loss) $ 64 $ 120 $ 133 $ 376
Net income (loss) per common share:        
Net income (loss) per basic common share $ 0.36 $ 0.61 $ 0.73 $ 1.93
Net income (loss) per diluted common share $ 0.36 $ 0.45 $ 0.72 $ 1.83
Weighted average number of common shares outstanding:        
Basic 172,146,651 189,169,042 176,914,777 189,101,884
Diluted 173,154,319 192,906,871 177,918,958 193,051,436
Non Variable Interest Entity [Member]        
Premiums earned:        
Scheduled premiums earned $ 51 $ 63 $ 106 $ 132
Refunding premiums earned 40 26 86 45
Premiums earned (net of ceded premiums of $2, $2, $5 and $5) 91 89 192 177
Net investment income 37 42 74 92
Fees and reimbursements 2 4 3 8
Change in fair value of insured derivatives:        
Realized gains (losses) and other settlements on insured derivatives (3) (24) (12) (393)
Unrealized gains (losses) on insured derivatives 63 (23) 100 815
Net change in fair value of insured derivatives 60 (47) 88 422
Net gains (losses) on financial instruments at fair value and foreign exchange 45 61 75 6
Investment losses related to other-than-temporary impairments:        
Investment losses related to other-than-temporary impairments (9) 0 (9) 0
Other-than-temporary impairments recognized in accumulated other comprehensive income (loss) 2 0 2 0
Net investment losses related to other-than-temporary impairments (7) 0 (7) 0
Net gains (losses) on extinguishment of debt (1) 2 (1) 3
Other net realized gains (losses) (1) 0 19 1
Expenses:        
Losses and loss adjustment 46 12 40 62
Amortization of deferred acquisition costs 13 8 26 18
Operating 32 49 67 95
Interest 50 52 100 106
Variable Interest Entity Primary Beneficiary [Member]        
Premiums earned:        
Net investment income 13 13 25 25
Change in fair value of insured derivatives:        
Net gains (losses) on financial instruments at fair value and foreign exchange 6 23 (4) 26
Investment losses related to other-than-temporary impairments:        
Net gains (losses) on extinguishment of debt 0 0 0 4
Expenses:        
Operating 3 1 7 4
Interest $ 9 $ 10 $ 19 $ 20