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Insurance Premiums (Tables) | 12 Months Ended
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Dec. 31, 2021
Text Block [Abstract] |
Rollforward of Premiums Receivable | The following tables present a roll forward of the Company’s premiums receivable for the years ended December 31, 2021 and 2020.
In millions |  |  |  |  |  |  |  | Adjustments |  |  |  |
Premiums Receivable as of December 31, 2020 |  | Premium Payments Received |  |  | Premiums from New Business Written |  |  | Changes in Expected Term of Policies |  |  | Accretion of Premiums Receivable Discount (1) |  |  | Other (2) |  |  | Premiums Receivable as of December 31, 2021 |
$ 216 |  | $ | (44) |  |  | $ | — |  |  | $ | 7 |  |  | $ | 5 |  |  | $ | (6) |  |  | $ | 178 |
(1)—Recorded within premiums earned on MBIA’s consolidated statement of operations. (2)—The change primarily relates to a foreign exchange loss due to the termination of an international public finance credit.
In millions |  |  |  |  |  |  |  | Adjustments |  |  |  |
Premiums Receivable as of December 31, 2019 |  | Premium Payments Received |  |  | Premiums from New Business Written |  |  | Changes in Expected Term of Policies |  |  | Accretion of Premiums Receivable Discount (1) |  |  | Other (2) |  |  | Premiums Receivable as of December 31, 2020 |
$ 249 |  | $ | (30) |  |  | $ | — |  |  | $ | (1) |  |  | $ | 6 |  |  | $ | (8) |  |  | $ | 216 |
(1)—Recorded within premiums earned on MBIA’s consolidated statement of operations. (2)—The change primarily relates to a reduction in installment premiums due to refunding activity and the recording of an allowance for credit losses under Financial Instruments-Credit Losses, partially offset by changes in foreign exchange currency rates.
Undiscounted Future Premiums By Period | The following table presents the undiscounted future amount of premiums expected to be collected and the period in which those collections are expected to occur:
In millions |  | Expected Collection of Premiums |
Three months ending: |  |  |  |
March 31, 2022 |  | $ | 3 |
June 30, 2022 |  |  | 6 |
September 30, 2022 |  |  | 4 |
December 31, 2022 |  |  | 7 |
Twelve months ending: |  |  |  |
December 31, 2023 |  |  | 18 |
December 31, 2024 |  |  | 17 |
December 31, 2025 |  |  | 16 |
December 31, 2026 |  |  | 14 |
Five years ending: |  |  |  |
December 31, 2031 |  |  | 57 |
December 31, 2036 |  |  | 42 |
December 31, 2041 and thereafter |  |  | 47 |
Total |  | $ | 231 |
Unearned Premium Reserve And Future Premium Earnings | The following table presents the unearned premium revenue balance and future expected premium earnings as of and for the periods presented:
In millions |  | Unearned Premium Revenue |  |  | Expected Future Premium Earnings |  |  | Accretion |  |  | Total Expected Future Premium Earnings |
| Upfront |  |  | Installments |
December 31, 2021 |  | $ | 322 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three months ending: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2022 |  |  | 312 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 11 |
June 30, 2022 |  |  | 302 |  |  |  | 5 |  |  |  | 5 |  |  |  | 1 |  |  |  | 11 |
September 30, 2022 |  |  | 293 |  |  |  | 5 |  |  |  | 4 |  |  |  | 2 |  |  |  | 11 |
December 31, 2022 |  |  | 284 |  |  |  | 5 |  |  |  | 4 |  |  |  | 1 |  |  |  | 10 |
Twelve months ending: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2023 |  |  | 250 |  |  |  | 18 |  |  |  | 16 |  |  |  | 4 |  |  |  | 38 |
December 31, 2024 |  |  | 219 |  |  |  | 16 |  |  |  | 15 |  |  |  | 4 |  |  |  | 35 |
December 31, 2025 |  |  | 192 |  |  |  | 14 |  |  |  | 13 |  |  |  | 4 |  |  |  | 31 |
December 31, 2026 |  |  | 168 |  |  |  | 13 |  |  |  | 11 |  |  |  | 3 |  |  |  | 27 |
Five years ending: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2031 |  |  | 87 |  |  |  | 41 |  |  |  | 40 |  |  |  | 14 |  |  |  | 95 |
December 31, 2036 |  |  | 41 |  |  |  | 18 |  |  |  | 28 |  |  |  | 8 |  |  |  | 54 |
December 31, 2041 and thereafter |  |  | — |  |  |  | 12 |  |  |  | 29 |  |  |  | 7 |  |  |  | 48 |
Total |  |  |  |  |  | $ | 152 |  |  | $ | 170 |  |  | $ | 49 |  |  | $ | 371 |

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