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Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Change in fair value of insured derivatives:    
Unrealized gains (losses) on insured derivatives $ (22) $ (14)
Net change in fair value of insured derivatives (53) (28)
Net gains (losses) on financial instruments at fair value and foreign exchange 17 (69)
Net investment losses related to other-than-temporary impairments:    
Net investment losses related to other-than-temporary impairments (2) (1)
Net gains (losses) on extinguishment of debt 8 2
Other net realized gains (losses) 3 (1)
Total revenues 77 32
Expenses:    
Losses and loss adjustment 94 22
Interest 48 50
Total expenses 197 133
Income (loss) before income taxes (120) (101)
Provision (benefit) for income taxes (48) (23)
Net income (loss) $ (72) $ (78)
Net income (loss) per common share:    
Basic $ (0.55) $ (0.58)
Diluted $ (0.55) $ (0.58)
Weighted average number of common shares outstanding:    
Basic 131,402,465 135,814,835
Diluted 131,402,465 135,814,835
Non Variable Interest Entity [Member]    
Premiums earned:    
Scheduled premiums earned $ 28 $ 45
Refunding premiums earned 21 30
Premiums earned (net of ceded premiums of $1 and $2) 49 75
Net investment income 52 39
Fees and reimbursements 2 1
Change in fair value of insured derivatives:    
Realized gains (losses) and other settlements on insured derivatives (31) (14)
Unrealized gains (losses) on insured derivatives (22) (14)
Net change in fair value of insured derivatives (53) (28)
Net gains (losses) on financial instruments at fair value and foreign exchange 17 (69)
Net investment losses related to other-than-temporary impairments:    
Investment losses related to other-than-temporary impairments 0 (1)
Other-than-temporary impairments recognized in accumulated other comprehensive income (loss) (2) 0
Net investment losses related to other-than-temporary impairments (2) (1)
Net gains (losses) on extinguishment of debt 8 2
Other net realized gains (losses) 3 (1)
Expenses:    
Losses and loss adjustment 94 22
Amortization of deferred acquisition costs 7 10
Operating 29 35
Interest 48 50
Variable Interest Entity Primary Beneficiary [Member]    
Premiums earned:    
Net investment income 6 15
Change in fair value of insured derivatives:    
Net gains (losses) on financial instruments at fair value and foreign exchange (33) (1)
Net investment losses related to other-than-temporary impairments:    
Other net realized gains (losses) 28 0
Expenses:    
Operating 2 4
Interest $ 17 $ 12