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Loss and Loss Adjustment Expense Reserves (Tables) | 12 Months Ended
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Dec. 31, 2018
Text Block [Abstract] |
Present Value Of The Probability-Weighted Future Claim Payments And Recoveries |
|  |  | As of December 31, 2018 |  |  | As of December 31, 2017 |
In millions | Balance Sheet Line Item |  |  | Balance Sheet Line Item |
|  |  | Insurance loss recoverable |  | Loss and LAE reserves |  |  | Insurance loss recoverable |  | Loss and LAE reserves |
U.S. Public Finance Insurance | $ | 571 |  | $ | 551 |  |  | $ | 333 |  | $ | 512 |
International and Structured Finance Insurance: |  |  |  |  |  |  |  |  |  |  |
| Before VIE eliminations(1) |  | 1,430 |  |  | 637 |  |  |  | 1,478 |  |  | 710 |
| VIE eliminations(1) |  | (437) |  |  | (254) |  |  |  | (1,300) |  |  | (243) |
|  | Total international and structured finance insurance |  | 993 |  |  | 383 |  |  |  | 178 |  |  | 467 |
| Total | $ | 1,564 |  | $ | 934 |  |  | $ | 511 |  | $ | 979 |
|  | _________________ |  |  |  |  |  |  |  |  |  |  |  |  |
|  | (1) - Includes loan repurchase commitments of $418 million and $407 million as of December 31, 2018 and 2017, respectively. |
Schedule Of Loss And Loss Adjustment Expenses Reserves |
In millions |  | Changes in Loss and LAE Reserves for the Year Ended December 31, 2018 |  |  |
Gross Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Loss
and LAE |  |  |  | Accretion |  |  |  |  |  |  |  | Changes in |  |  |  |  | and LAE
Reserves as of |  |  |  | of Claim |  | Changes in |  |  |  | Unearned |  | Changes in |  | Reserves as of
December 31, |  | Loss |  | Liability |  | Discount |  | Changes in |  | Premium |  | LAE |  | December 31,
2017 |  | Payments |  | Discount |  | Rates |  | Assumptions |  | Revenue |  | Reserves |  | 2018
$ | 979 |  | $ | (354) |  | $ | 26 |  | $ | 13 |  | $ | 261 |  | $ | 15 |  | $ | (6) |  | $ | 934
In millions |  | Changes in Loss and LAE Reserves for the Year Ended December 31, 2017 |  |  |
Gross Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Loss
and LAE |  |  |  |  | Accretion |  |  |  |  |  |  |  | Changes in |  |  |  |  |  |  | and LAE
Reserves as of |  |  |  | of Claim |  | Changes in |  |  |  | Unearned |  | Changes in |  |  |  | Reserves as of
December 31, |  | Loss |  | Liability |  | Discount |  | Changes in |  | Premium |  | LAE |  |  |  | December 31,
2016 |  | Payments(1) |  | Discount |  | Rates |  | Assumptions |  | Revenue |  | Reserves |  | Other(2) |  | 2017
$ | 541 |  | $ | (1,069) |  | $ | 12 |  | $ | 15 |  | $ | 661 |  | $ | (30) |  | $ | 6 |  | $ | 843 |  | $ | 979
____________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Includes payments made to satisfy the Zohar II Claim.
(2) - Primarily changes in the amount to satisfy the Zohar II Claim.
Schedule Of Insurance Loss Recoverable And Changes In Recoveries On Unpaid Losses |
|  |  |  |  |  | Changes in Insurance Loss Recoverable and Recoveries on Unpaid Losses |  |  |
|  |  |  |  |  | for the Year Ended December 31, 2018 |  |  |
|  |  | Gross |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gross
|  |  | Reserve |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Reserve
|  |  | as of |  |  |  | Accretion |  | Changes in |  |  |  | Changes in |  |  |  | as of
|  |  | December 31, |  | Collections |  | of |  | Discount |  | Changes in |  | LAE |  |  |  | December 31,
In millions |  | 2017 |  | for Cases |  | Recoveries |  | Rates |  | Assumptions |  | Recoveries |  | Other(1) |  | 2018
Insurance loss recoverable |  | $ | 511 |  | $ | (56) |  | $ | 25 |  | $ | (13) |  | $ | 1,099 | (2) | $ | - |  | $ | (2) |  | $ | 1,564
Recoveries on unpaid losses (3) |  |  | 35 |  |  | - |  |  | 1 |  |  | (1) |  |  | (8) |  |  | (8) |  |  | - |  |  | 19
Total |  | $ | 546 |  | $ | (56) |  | $ | 26 |  | $ | (14) |  | $ | 1,091 |  | $ | (8) |  | $ | (2) |  | $ | 1,583
____________
(1) - Primarily changes in amount and timing of collections.
(2) - Includes amounts which have been paid and are expected to be recovered in the future.
(3) - Excludes certain Puerto Rico recoveries which have been netted against reserves.
|  |  |  |  |  |  | Changes in Insurance Loss Recoverable and Recoveries on Unpaid Losses |  |  |
|  |  |  |  |  |  | for the Year Ended December 31, 2017 |  |  |
|  |  | Gross |  |  |  |  |  |  |  |  |  |  |  | Gross
|  |  | Reserve |  |  |  |  |  |  |  |  |  |  |  | Reserve
|  |  | as of |  |  |  | Accretion |  | Changes in |  |  |  |  | Changes in |  |  |  | as of
|  |  | December 31, |  | Collections |  | of |  | Discount |  | Changes in |  | LAE |  |  |  | December 31,
In millions |  | 2016 |  | for Cases |  | Recoveries |  | Rates |  | Assumptions |  | Recoveries |  | Other(1) |  | 2017
| Insurance loss recoverable |  | $ | 504 |  | $ | (124) |  | $ | 10 |  | $ | 2 |  | $ | 113 |  | $ | - |  | $ | 6 |  | $ | 511
| Recoveries on unpaid losses (2) |  |  | 79 |  |  | - |  |  | 1 |  |  | 1 |  |  | (45) |  |  | (1) |  |  | - |  |  | 35
Total |  | $ | 583 |  | $ | (124) |  | $ | 11 |  | $ | 3 |  | $ | 68 |  | $ | (1) |  | $ | 6 |  | $ | 546
____________
(1) - Primarily changes in amount and timing of collections. |  |  |
(2) - Excludes certain Puerto Rico recoveries which have been netted against reserves.
Schedule Of Financial Guarantees And Related Claim Liability |
|  |  |  |  | Surveillance Categories
|  |  |  |  | Caution |  | Caution |  | Caution |  |  |  |  |  |
|  |  |  |  | List |  | List |  | List |  | Classified |  |  |
$ in millions |  | Low |  | Medium |  | High |  | List |  | Total
Number of policies |  |  | 50 |  |  | 18 |  |  | - |  |  | 232 |  |  | 300
Number of issues (1) |  |  | 16 |  |  | 4 |  |  | - |  |  | 101 |  |  | 121
Remaining weighted average contract |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| period (in years) |  |  | 6.7 |  |  | 8.0 |  |  | - |  |  | 9.7 |  |  | 8.9
Gross insured contractual payments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| outstanding: (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Principal |  | $ | 1,604 |  | $ | 249 |  | $ | - |  | $ | 5,353 |  | $ | 7,206
|  | Interest |  |  | 2,118 |  |  | 123 |  |  | - |  |  | 5,414 |  |  | 7,655
|  |  | Total |  | $ | 3,722 |  | $ | 372 |  | $ | - |  | $ | 10,767 |  | $ | 14,861
Gross Claim Liability (3) |  | $ | - |  | $ | - |  | $ | - |  | $ | 977 |  | $ | 977
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross Potential Recoveries (4) |  |  | - |  |  | - |  |  | - |  |  | 2,255 |  |  | 2,255
| Discount, net (5) |  |  | - |  |  | - |  |  | - |  |  | (670) |  |  | (670)
Net claim liability (recoverable) |  | $ | - |  | $ | - |  | $ | - |  | $ | (608) |  | $ | (608)
Unearned premium revenue |  | $ | 5 |  | $ | 4 |  | $ | - |  | $ | 63 |  | $ | 72
Reinsurance recoverable on paid and unpaid losses (6) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 21
__________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - An “issue” represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments on the insured debt.
(2) - Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.
(3) - The gross claim liability with respect to Puerto Rico exposures are net of expected recoveries for policies in a net payable position.
(4) - Gross potential recoveries with respect to certain Puerto Rico exposures are net of the claim liability for policies in a net recoverable position.
(5) - Represents discount related to Gross Claim Liability and Gross Potential Recoveries.
(6) - Included in "Other assets" on the Company's consolidated balance sheets.
|  |  |  |  | Surveillance Categories
|  |  |  |  | Caution |  | Caution |  | Caution |  |  |  |  |  |
|  |  |  |  | List |  | List |  | List |  | Classified |  |  |
$ in millions |  | Low |  | Medium |  | High |  | List |  | Total
Number of policies |  |  | 89 |  |  | 5 |  |  | 1 |  |  | 280 |  |  | 375
Number of issues (1) |  |  | 20 |  |  | 4 |  |  | 1 |  |  | 119 |  |  | 144
Remaining weighted average contract |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| period (in years) |  |  | 7.4 |  |  | 4.3 |  |  | 8.7 |  |  | 9.7 |  |  | 8.9
Gross insured contractual payments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| outstanding: (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Principal |  | $ | 2,764 |  | $ | 13 |  | $ | 104 |  | $ | 6,083 |  | $ | 8,964
|  | Interest |  |  | 2,676 |  |  | 3 |  |  | 46 |  |  | 5,756 |  |  | 8,481
|  |  | Total |  | $ | 5,440 |  | $ | 16 |  | $ | 150 |  | $ | 11,839 |  | $ | 17,445
Gross Claim Liability (3) |  | $ | - |  | $ | - |  | $ | - |  | $ | 1,082 |  | $ | 1,082
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross Potential Recoveries (4) |  |  | - |  |  | - |  |  | - |  |  | 782 |  |  | 782
| Discount, net (5) |  |  | - |  |  | - |  |  | - |  |  | (178) |  |  | (178)
Net claim liability (recoverable) |  | $ | - |  | $ | - |  | $ | - |  | $ | 478 |  | $ | 478
Unearned premium revenue |  | $ | 9 |  | $ | - |  | $ | 4 |  | $ | 77 |  | $ | 90
Reinsurance recoverable on paid and unpaid losses (6) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 17
__________
(1) - An “issue” represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments on the insured debt.
(2) - Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.
(3) - The gross claim liability with respect to Puerto Rico exposures are net of expected recoveries for policies in a net payable position.
(4) - Gross potential recoveries with respect to certain Puerto Rico exposures are net of the claim liability for policies in a net recoverable position.
(5) - Represents discount related to Gross Claim Liability and Gross Potential Recoveries.
(6) - Included in "Other assets" on the Company's consolidated balance sheets.

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- Definition Tabular disclosure of insured financial obligations with credit deterioration related to the claim liability on financial guarantee insurance contracts as of the end of each annual and interim reporting period detailing, at a minimum, the following for each surveillance category or grouping used to track and monitor the entity's insured financial obligations: (1) number of issued and outstanding financial guarantee insurance contracts; (2) remaining weighted average contract period; (3) insured contractual payments outstanding, segregating principal and interest; (4) gross claim liability; (5) gross potential recoveries; (6) net discount of both the claim liability and potential recoveries; (7) net claim liability; (8) reinsurance recoverable; and (9) unearned premium revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=99379334&loc=SL5751140-161288 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 9 -Subparagraph (a)(5), (b)(1) -URI http://asc.fasb.org/extlink&oid=99382878&loc=SL5749324-161292 + Details
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