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Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Change in fair value of insured derivatives:        
Unrealized gains (losses) on insured derivatives     $ (20) $ 100
Net change in fair value of insured derivatives $ (8) $ 60 (36) 88
Net gains (losses) on financial instruments at fair value and foreign exchange 14 45 (55) 75
Net investment losses related to other-than-temporary impairments:        
Net investment losses related to other-than-temporary impairments   (7) (1) (7)
Net gains (losses) on extinguishment of debt 3 (1) 5 (1)
Other net realized gains (losses) 0 (1) (1) 19
Total revenues 118 245 150 464
Expenses:        
Losses and loss adjustment 77 46 99 40
Interest 49 50 99 100
Total expenses 173 153 306 259
Income (loss) before income taxes (55) 92 (156) 205
Provision (benefit) for income taxes (28) 28 (51) 72
Net income (loss) $ (27) $ 64 $ (105) $ 133
Net income (loss) per common share:        
Basic $ (0.2) $ 0.36 $ (0.78) $ 0.73
Diluted $ (0.2) $ 0.36 $ (0.78) $ 0.72
Weighted average number of common shares outstanding:        
Basic 132,677,066 172,146,651 134,245,952 176,914,777
Diluted 132,677,066 173,154,319 134,245,952 177,918,958
Non Variable Interest Entity [Member]        
Premiums earned:        
Scheduled premiums earned $ 44 $ 51 $ 89 $ 106
Refunding premiums earned 29 40 59 86
Premiums earned (net of ceded premiums of $2, $2, $3 and $5) 73 91 148 192
Net investment income 37 37 76 74
Fees and reimbursements 1 2 2 3
Change in fair value of insured derivatives:        
Realized gains (losses) and other settlements on insured derivatives (2) (3) (16) (12)
Unrealized gains (losses) on insured derivatives (6) 63 (20) 100
Net change in fair value of insured derivatives (8) 60 (36) 88
Net gains (losses) on financial instruments at fair value and foreign exchange 14 45 (55) 75
Net investment losses related to other-than-temporary impairments:        
Investment losses related to other-than-temporary impairments   (9) (1) (9)
Other-than-temporary impairments recognized in accumulated other comprehensive income (loss)   2 0 2
Net investment losses related to other-than-temporary impairments   (7) (1) (7)
Net gains (losses) on extinguishment of debt 3 (1) 5 (1)
Other net realized gains (losses) 0 (1) (1) 19
Expenses:        
Losses and loss adjustment 77 46 99 40
Amortization of deferred acquisition costs 10 13 20 26
Operating 30 32 65 67
Interest 49 50 99 100
Variable Interest Entity Primary Beneficiary [Member]        
Premiums earned:        
Net investment income 5 13 20 25
Change in fair value of insured derivatives:        
Net gains (losses) on financial instruments at fair value and foreign exchange (7) 6 (8) (4)
Net investment losses related to other-than-temporary impairments:        
Net gains (losses) on extinguishment of debt     0 0
Other net realized gains (losses)     0 0
Expenses:        
Operating 3 3 7 7
Interest $ 4 $ 9 $ 16 $ 19