XML 40 R29.htm IDEA: XBRL DOCUMENT v3.3.0.814

Investments (Tables)

9 Months Ended

Sep. 30, 2015

Text Block [Abstract]

Amortized Cost And Fair Value Of Available-For-Sale And Held-To-Maturity Investment Portfolios

						September 30, 2015
									Gross			Gross						Other-Than-
						Amortized			Unrealized			Unrealized			Fair			Temporary
In millions						Cost			Gains			Losses			Value			Impairments(1)
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency					$	818		$	39		$	(1)		$	856		$	-
	State and municipal bonds						1,779			83			(11)			1,851			-
	Foreign governments						212			3			(2)			213			-
	Corporate obligations						1,772			31			(104)			1,699			(88)
	Mortgage-backed securities:
		Residential mortgage-backed agency					1,034			14			(5)			1,043			-
		Residential mortgage-backed non-agency					58			3			(5)			56			(4)
		Commercial mortgage-backed					16			-			-			16			-
	Asset-backed securities:
		Collateralized debt obligations					82			-			(20)			62			-
		Other asset-backed					371			2			(10)			363			-
			Total fixed-maturity investments				6,142			175			(158)			6,159			(92)
Money market securities							111			-			-			111			-
Perpetual debt and equity securities							12			1			-			13			-
Total AFS investments						$	6,265		$	176		$	(158)		$	6,283		$	(92)
HTM Investments
Assets of consolidated VIEs:
	Corporate obligations					$	2,707		$	12		$	(277)		$	2,442		$	-
Total HTM investments						$	2,707		$	12		$	(277)		$	2,442		$	-
_______________
(1) - Represents unrealized gains or losses on OTTI securities recognized in AOCI, which includes the non-credit component of impairments, as well as all subsequent changes in fair value of such impaired securities reported in AOCI.

						December 31, 2014
									Gross			Gross						Other-Than-
						Amortized			Unrealized			Unrealized			Fair			Temporary
In millions						Cost			Gains			Losses			Value			Impairments(1)
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency					$	631		$	39		$	(3)		$	667		$	-
	State and municipal bonds						1,644			94			(8)			1,730			-
	Foreign governments						283			7			-			290			-
	Corporate obligations						1,984			44			(92)			1,936			(86)
	Mortgage-backed securities:
		Residential mortgage-backed agency					1,116			17			(7)			1,126			-
		Residential mortgage-backed non-agency					54			3			(4)			53			(4)
		Commercial mortgage-backed					19			1			-			20			-
	Asset-backed securities:
		Collateralized debt obligations					113			-			(21)			92			-
		Other asset-backed					231			3			(12)			222			-
			Total fixed-maturity investments				6,075			208			(147)			6,136			(90)
Money market securities							422			-			-			422			-
Perpetual debt and equity securities							12			1			-			13			-
Total AFS investments						$	6,509		$	209		$	(147)		$	6,571		$	(90)
HTM Investments
Assets of consolidated VIEs:
	Corporate obligations					$	2,757		$	77		$	(202)		$	2,632		$	-
Total HTM investments						$	2,757		$	77		$	(202)		$	2,632		$	-
_______________
(1) - Represents unrealized gains or losses on OTTI securities recognized in AOCI, which includes the non-credit component of impairments, as well as all subsequent changes in fair value of such impaired securities reported in AOCI.

Distribution By Contractual Maturity Of Available-For-Sale and Held-To-Maturity Investments

		AFS Securities						HTM Securities
								Consolidated VIEs
		Amortized						Amortized
In millions		Cost			Fair Value			Cost			Fair Value
Due in one year or less		$	671		$	672		$	-		$	-
Due after one year through five years			1,442			1,460			-			-
Due after five years through ten years			923			953			-			-
Due after ten years			1,545			1,534			2,707			2,442
Mortgage-backed and asset-backed			1,561			1,540			-			-
Total fixed-maturity investments		$	6,142		$	6,159		$	2,707		$	2,442

Gross Unrealized Losses Related To Available-For-Sale And Held-To-Maturity Investments

						September 30, 2015
						Less than 12 Months						12 Months or Longer						Total
						Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
In millions						Value			Losses			Value			Losses			Value			Losses
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency					$	136		$	(1)		$	50		$	-		$	186		$	(1)
	State and municipal bonds						351			(7)			42			(4)			393			(11)
	Foreign governments						21			(1)			3			(1)			24			(2)
	Corporate obligations						539			(13)			71			(91)			610			(104)
	Mortgage-backed securities:
		Residential mortgage-backed agency					264			(1)			181			(4)			445			(5)
		Residential mortgage-backed non-agency					24			(1)			18			(4)			42			(5)
		Commercial mortgage-backed					7			-			1			-			8			-
	Asset-backed securities:
		Collateralized debt obligations					-			-			61			(20)			61			(20)
		Other asset-backed					203			(1)			43			(9)			246			(10)
			Total fixed-maturity investments				1,545			(25)			470			(133)			2,015			(158)
Perpetual debt and equity securities							2			-			2			-			4			-
Total AFS investments						$	1,547		$	(25)		$	472		$	(133)		$	2,019		$	(158)
HTM Investments
Assets of consolidated VIEs:
	Corporate obligations					$	1,096		$	(23)		$	321		$	(254)		$	1,417		$	(277)
Total HTM investments						$	1,096		$	(23)		$	321		$	(254)		$	1,417		$	(277)

						December 31, 2014
						Less than 12 Months						12 Months or Longer						Total
						Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
In millions						Value			Losses			Value			Losses			Value			Losses
AFS Investments
Fixed-maturity investments:
	U.S. Treasury and government agency					$	197		$	-		$	175		$	(3)		$	372		$	(3)
	State and municipal bonds						60			(1)			257			(7)			317			(8)
	Foreign governments						20			-			-			-			20			-
	Corporate obligations						468			(1)			251			(91)			719			(92)
	Mortgage-backed securities:
		Residential mortgage-backed agency					16			-			387			(7)			403			(7)
		Residential mortgage-backed non-agency					10			-			19			(4)			29			(4)
		Commercial mortgage-backed					4			-			6			-			10			-
	Asset-backed securities:
		Collateralized debt obligations					1			-			81			(21)			82			(21)
		Other asset-backed					69			-			44			(12)			113			(12)
			Total fixed-maturity investments				845			(2)			1,220			(145)			2,065			(147)
Perpetual debt and equity securities							6			-			-			-			6			-
Total AFS investments						$	851		$	(2)		$	1,220		$	(145)		$	2,071		$	(147)
HTM Investments
Assets of consolidated VIEs:
	Corporate obligations					$	-		$	-		$	373		$	(202)		$	373		$	(202)
Total HTM investments						$	-		$	-		$	373		$	(202)		$	373		$	(202)

Distribution Of Securities By Percentage Of Fair Value Below Book Value By More Than 5%

			AFS Securities								HTM Securities
	Percentage of Fair Value		Number of		Book Value			Fair Value			Number of		Book Value			Fair Value
	Below Book Value		Securities		(in millions)			(in millions)			Securities		(in millions)			(in millions)
	> 5% to 15%		7		$	13		$	13		-		$	-		$	-
	> 15% to 25%		8			82			65		-			-			-
	> 25% to 50%		5			5			3		1			575			321
	> 50%		2			122			17		-			-			-
	Total		22		$	222		$	98		1		$	575		$	321

Fair Values And Gross Unrealized Losses By Credit Rating Category Of ABS, MBS and Corporate Obligations

																											Below
In millions			Aaa						Aa						A						Baa						Investment Grade						Not Rated						Total
			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
Asset Type			Value			Loss			Value			Loss			Value			Loss			Value			Loss			Value			Loss			Value			Loss			Value			Loss
ABS			$	153		$	(1)		$	88		$	(1)		$	1		$	-		$	2		$	-		$	62		$	(28)		$	1		$	-		$	307		$	(30)
MBS				446			(4)			2			-			3			-			5			-			26			(2)			13			(4)			495			(10)
Corporate obligations				78			(1)			179			(3)			260			(4)			71			(6)			8			-			14			(90)			610			(104)
	Total		$	677		$	(6)		$	269		$	(4)		$	264		$	(4)		$	78		$	(6)		$	96		$	(30)		$	28		$	(94)		$	1,412		$	(144)

Average Credit Ratings and Fair Value and Percentage Of Guaranteed ABS MBS and Corporate Obligations Below Investment Grade

						Insured Securities Rated Below
						Investment Grade without the
						Effect of Guarantee
		Average Credit Rating with the		Average Credit Rating without the		(in millions)
Asset Type		Effect of Guarantee		Effect of Guarantee		Fair Value			Percentage
ABS		Below Investment Grade		Below Investment Grade		$	60		65	%
MBS		Below Investment Grade		Below Investment Grade		$	19		100	%

Securities Held In Unrealized Loss Position And Insured By Financial Guarantor and The Related Insurance Loss Reserve On Company Insured Investments

								Unrealized			Insurance Loss
	In millions				Fair Value			Loss			Reserve (2)
	Asset-backed:
		MBIA(1)			$	93		$	(28)		$	20
	Mortgage-backed:
		MBIA(1)				19			(1)			14
	Other:
		MBIA(1)				79			(4)			-
		Other				1			-			-
			Total other			80			(4)			-
	Total				$	192		$	(33)		$	34
	_______________
	(1) - Includes investments insured by MBIA Corp. and National.
	(2) - Insurance loss reserve estimates are based on the proportion of par value owned to the total amount of par value insured.

Credit Losses Recognized In Earnings Related To OTTI Losses Recognized In Accumulated Other Comprehensive Income (Loss)

In millions			Three Months Ended September 30,						Nine Months Ended September 30,
Credit Losses Recognized in Earnings Related to Other-Than-Temporary Impairments			2015				2014		2015				2014
Beginning balance			$	22		$	-		$	16		$	175
Additions for credit loss impairments recognized in the current period on securities not
	previously impaired			-			14			-			14
Additions for credit loss impairments recognized in the current period on securities
	previously impaired			3			-			9			-
Reductions for credit loss impairments previously recognized on securities sold during
	the period			-			-			-			(174)
Reductions for increases in cash flows expected to be collected over the remaining
	life of the security			-			-			-			(1)
Ending balance			$	25		$	14		$	25		$	14

Gross Realized Gains and Losses From Sales Of Available-For-Sale Securities

				Three Months Ended September 30,						Nine Months Ended September 30,
	In millions			2015			2014			2015			2014
	Proceeds from sales			$	251		$	131		$	630		$	594
	Gross realized gains			$	6		$	4		$	14		$	61
	Gross realized losses			$	(2)		$	-		$	(11)		$	(13)

X

- Definition

A table of investments, shown as a text block.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher SEC



-Name Regulation S-X (SX)



-Number 210



-Article 6



-Section 10



-Paragraph (c)



-Subparagraph (1)

+ Details

Name:	invest_InvestmentTableTextBlock
Namespace Prefix:	invest_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Distribution Of Securities By Percentage Of Fair Value Below Book Value By More Than 5%.

+ References

No definition available.

+ Details

Name:	mbi_InvestmentsDistributionOfSecuritiesByPercentageOfFairValueBelowBookValueByMoreThanFivePercentTableTextBlock
Namespace Prefix:	mbi_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

For all ABS, MBS and corporate obligations that are guaranteed by financial guarantors, a tabular disclosure presenting the average credit rating with and without the effect of the financial guarantee and the fair value and percentage of securities by asset class that are rated below investment grade without the benefit of the financial guarantee.

+ References

No definition available.

+ Details

Name:	mbi_ScheduleOfAbsMbsAndCorporateObligationsGuaranteedByFinancialGuarantorsTableTextBlock
Namespace Prefix:	mbi_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Fair values and gross unrealized losses by credit rating category of asset-backed securities, mortgage-backed securities and corporate obligations.

+ References

No definition available.

+ Details

Name:	mbi_ScheduleOfFairValuesAndGrossUnrealizedLossesByCreditRatingCategoryTableTextBlock
Namespace Prefix:	mbi_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Securities held in unrealized loss position and insured by financial guarantor and the related insurance loss reserve on company insured investments.

+ References

No definition available.

+ Details

Name:	mbi_SecuritiesHeldInUnrealizedLossPositionAndInsuredByFinancialGuarantorAndRelatedInsuranceLossReserveOnCompanyInsuredInvestmentsTableTextBlock
Namespace Prefix:	mbi_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 320



-SubTopic 10



-Section 50



-Paragraph 8



-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27340-111563

+ Details

Name:	us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 320



-SubTopic 10



-Section 50



-Paragraph 9



-Subparagraph (a)



-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563

+ Details

Name:	us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 320



-SubTopic 10



-Section 50



-Paragraph 6



-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563

+ Details

Name:	us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TextBlockAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration