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MBIA Inc
(NYSE:MBI) 

MBI stock logo

MBIA Inc. provides financial insurance services to public finance markets. It operates through United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable ind...

Full Time Employees: 93
Sector: Financial Services
Industry: Insurance-Specialty
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At a glance:
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Quarterly
Annual
    Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-03-31 2019-09-30 2019-03-31 2018-03-31 2017-03-31 2013-06-30 2011-06-30 2008-03-31 2007-06-30 2007-03-31 2006-09-30 2006-06-30 2006-03-31 2005-12-31 2005-09-30 2004-09-30 2003-03-31 
                                          
      revenues
    		                             390,330,000 362,079,000 308,473,000 294,299,000 258,206,000 247,705,000 225,671,000 142,323,000 29,240,000 
      premiums earned:
    		                                      
      total premiums earned
    		5,500,000 7,000,000 7,000,000    8,000,000 9,000,000                               
      net investment income
    		19,000,000 17,000,000 19,000,000 18,000,000 19,000,000 20,000,000 22,000,000 23,000,000 26,000,000 38,000,000 26,000,000 28,000,000 24,000,000 25,000,000 18,000,000 17,000,000 16,000,000 14,000,000 15,000,000 17,000,000 16,000,000 23,000,000 27,000,000 32,000,000 31,000,000 52,000,000 38,000,000 95,000,000 514,904,000 146,185,000 146,106,000 164,418,000 144,390,000 140,012,000 129,274,000 122,435,000 117,363,000 106,421,000 
      net realized investment gains
    		  -1,000,000 -5,000,000   -2,000,000 -1,000,000 -13,000,000 -7,000,000 -3,000,000 -4,000,000 -13,000,000 -21,000,000 -3,000,000                        
      net gains on financial instruments at fair value and foreign exchange
    		 -12,000,000 -2,000,000 -15,000,000 14,000,000 -5,000,000 -55,000,000 4,000,000 21,000,000 11,000,000 -13,000,000 -6,000,000 25,000,000 9,000,000 17,000,000 -2,000,000 11,000,000 -20,000,000 51,000,000 -12,000,000 13,000,000 -63,000,000 44,000,000 22,000,000 4,000,000 17,000,000 78,000,000 -103,000,000 76,562,000 -14,058,000 1,847,000        
      fees and reimbursements
    		 1,000,000  1,000,000  2,000,000 1,000,000     1,000,000  4,000,000  1,000,000 5,000,000 1,000,000   2,000,000    6,000,000 2,000,000 6,000,000 11,000,000 7,453,000 4,634,000 10,168,000 17,046,000 4,019,000 8,174,000     
      other net realized gains
    		    -6,000,000 2,000,000 2,000,000 2,000,000 -6,000,000 1,000,000 -15,000,000 6,000,000 1,000,000 -16,000,000 -3,000,000 8,000,000 -9,000,000 -5,000,000  9,250,000 23,000,000 -9,000,000 -4,000,000 1,000,000  3,000,000 1,000,000 3,000,000           
      revenues of consolidated variable interest entities:
    		                                      
      expenses
    		                             22,795,000 22,663,000 19,062,000 18,461,000 17,590,000 22,386,000 18,341,000 19,620,000 15,799,000 
      losses and loss adjustment
    		14,000,000 -50,000,000 8,000,000 8,000,000 13,000,000 11,000,000 142,000,000 18,000,000 123,000,000 28,000,000 6,000,000 -19,000,000 -12,000,000 20,000,000 49,000,000 118,000,000 125,000,000 9,000,000 98,000,000 103,000,000 48,000,000 243,000,000 -13,000,000 -38,000,000 72,000,000 94,000,000 188,000,000 50,000,000 287,608,000 20,968,000 20,484,000 20,414,000 20,295,000 20,126,000 20,919,000 20,796,000   
      amortization of deferred acquisition costs
    		1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 2,000,000 3,000,000 2,000,000 1,000,000 2,000,000 1,000,000  3,000,000 2,000,000 3,000,000 2,000,000 2,000,000 3,000,000 4,000,000 4,000,000 7,000,000 11,000,000 23,000,000 15,552,000 17,433,000 16,629,000 16,774,000 17,122,000 16,266,000 16,941,000 16,121,000 15,680,000 12,782,000 
      operating
    		15,000,000 19,000,000 18,000,000 16,000,000 15,000,000 14,000,000 15,000,000 25,000,000 15,000,000 20,000,000 22,000,000 24,000,000 14,000,000 11,000,000 19,000,000 21,000,000 23,000,000 21,000,000 26,000,000 26,000,000 21,000,000 18,000,000 23,000,000 26,000,000 20,000,000 29,000,000 103,000,000 75,000,000 63,487,000 35,043,000 32,569,000 37,455,000 35,889,000 36,727,000 39,962,000 39,893,000 26,485,000 23,643,000 
      interest
    		48,000,000 50,000,000 48,000,000 50,000,000 50,000,000 53,000,000 53,000,000 52,000,000 53,000,000 53,000,000 51,000,000 49,000,000 46,000,000 43,000,000 41,000,000 41,000,000 40,000,000 41,000,000 41,000,000 43,000,000 43,000,000 47,000,000 50,000,000 52,000,000 51,000,000 48,000,000 60,000,000 75,000,000           
      expenses of consolidated variable interest entities:
    		                                      
      income from continuing operations before income taxes
    		-56,000,000 -7,000,000 -56,000,000 -62,000,000 -50,000,000 -51,000,000 -253,000,000 -87,000,000 -185,000,000 -78,000,000 -83,000,000 -4,000,000 -35,000,000                 293,017,000 277,041,000 306,522,000   258,934,000 220,478,000 257,983,000  
      benefit for income taxes
    		                          -86,000,000  -1,293,105,000          
      income from continuing operations
    		-56,000,000 -7,000,000 -56,000,000 -62,000,000 -50,000,000 -51,000,000 -253,000,000 -87,000,000 -185,000,000 -78,000,000 -83,000,000 -5,000,000 -35,000,000                 211,831,000 198,611,000 216,553,000   182,721,000 142,877,000 186,046,000  
      income from discontinued operations, net of income taxes
    		-1,000,000 -1,000,000   -1,000,000 -1,000,000 -2,000,000 1,000,000 -1,000,000 3,000,000 -3,000,000 -55,000,000 1,000,000                          
      net income
    		-57,000,000 -8,000,000 -56,000,000 -62,000,000 -51,000,000 -52,000,000 -255,000,000 -86,000,000 -186,000,000 -75,000,000 -86,000,000 -60,000,000 -34,000,000 -36,000,000 -73,000,000 -155,000,000 -123,000,000 -61,000,000 -106,000,000 -81,000,000 -58,000,000 -333,000,000 71,000,000 -17,000,000 -98,000,000 -72,000,000 -178,000,000 137,000,000 -2,406,732,000 211,831,000 198,611,000 217,947,000 221,362,000 198,994,000 182,721,000 141,784,000 186,046,000 223,326,000 
      yoy
    		11.76% -84.62% -78.04% -27.91% -72.58% -30.67% 196.51% 43.33% 447.06% 108.33% 17.81% -61.29% -72.36% -40.98% -31.13% 91.36% 112.07% -81.68% -249.30% 376.47% -40.82% 362.50% -139.89% -112.41% -95.93% -133.99% -189.62% -37.14% -1187.24% 6.45% 8.70% 53.72% 18.98% -10.90%     
      qoq
    		612.50% -85.71% -9.68% 21.57% -1.92% -79.61% 196.51% -53.76% 148.00% -12.79% 43.33% 76.47% -5.56% -50.68% -52.90% 26.02% 101.64% -42.45% 30.86% 39.66% -82.58% -569.01% -517.65% -82.65% 36.11% -59.55% -229.93% -105.69% -1236.16% 6.66% -8.87% -1.54% 11.24% 8.91% 28.87% -23.79% -16.69%  
      net income margin %
    		-Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -267.86% -4300.00% -105.26% -200.00% -90.00% -182.50% -574.07% -170.83% -338.89% -147.22% -78.64% -81.69% 5550.00% 41.28% -34.00% -134.25% -93.51% -158.93% 139.80% 81.42% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% 54.61% 
      less: net income from discontinued operations attributable to noncontrolling interest
    		     4,000,000 -1,000,000  -1,000,000 -1,000,000                             
      net income attributable to mbia inc.
    		-51,000,000 -8,000,000 -56,000,000  -51,000,000 -56,000,000 -254,000,000 -86,000,000 -185,000,000 -74,000,000 -93,000,000                            
      net income per common share attributable to mbia inc. - basic and diluted
    		-1,010,000 -170,000 -1,120,000  -1,060,000 -1,180,000 -5,340,000 -1,840,000 -3,940,000 -1,460,000 -1,860,000                            
      continuing operations
    		-990,000 -150,000 -1,120,000 -1,280,000 -1,050,000 -1,080,000 -5,300,000 -1,880,000 -3,930,000 -1,520,000 -1,670,000 -120,000 -680,000                          
      discontinued operations
    		-20,000 -20,000   -10,000 -100,000 -40,000 40,000 -10,000 60,000 -190,000                            
      weighted-average number of common shares outstanding
    		                                      
      basic
    		49,278,281,000,000 49,597,200,000,000 49,543,258,000,000 48,354,307,000,000 47,436,079,000,000 47,671,114,000,000 47,501,248,000,000 46,820,922,000,000 47,009,765,000,000 49,040,489,000,000 49,945,917,000,000 49,803,739,000,000 49,878,191,000,000 49,826,695,000,000 49,631,448,000,000 49,472,281,000,000 49,552,796,000,000 49,488,368,000,000 49,258,110,000,000 59,071,843,000,000 52,588,533,000,000 72,089,016,000,000 78,686,542,000,000 85,554,236,000,000 88,131,373,000,000 131,402,465,000,000 193,104,610,000,000 199,295,797,000,000 184,708,960,000 127,386,668,000 131,972,954,000 132,794,395,000 132,765,468,000 132,717,298,000 134,098,392,000 132,622,848,000 141,408,855,000 144,042,116,000 
      diluted
    		49,278,281,000,000 49,597,200,000,000 49,543,258,000,000 48,354,307,000,000 47,436,079,000,000 47,671,114,000,000 47,501,248,000,000 46,820,922,000,000 47,009,765,000,000 49,040,489,000,000 49,945,917,000,000 49,803,739,000,000 49,878,191,000,000 49,826,695,000,000 49,631,448,000,000 49,472,281,000,000 49,552,796,000,000 49,488,368,000,000 49,258,110,000,000 59,071,843,000,000 52,588,533,000,000 72,089,016,000,000 78,686,542,000,000 85,554,236,000,000 88,131,373,000,000 131,402,465,000,000 193,104,610,000,000 200,064,679,000,000 184,708,960,000 131,460,764,000 136,090,503,000 136,739,403,000 136,634,382,000 136,547,417,000 137,220,731,000 135,822,330,000 144,125,409,000 145,357,445,000 
      provision for income taxes
    		                      18,000,000  2,000,000 -48,000,000  -284,000,000         71,937,000 89,894,000 
      premiums earned
    		   8,000,000 10,000,000 9,000,000    8,000,000 10,000,000 16,000,000 11,000,000 11,000,000 15,000,000 11,000,000 29,000,000 14,000,000 20,000,000 18,000,000 16,000,000 20,000,000 20,000,000 23,000,000 40,000,000 49,000,000 124,000,000 149,000,000 155,315,000 220,667,000 210,498,000 212,327,000 216,736,000 205,899,000 214,440,000 204,072,000 201,777,000 161,180,000 
      net income per common share - basic and diluted
    		   -1,280,000        -717,500 -670,000                          
      net gains on extinguishment of debt
    		       1,000,000      4,000,000   16,000,000 14,000,000     -1,000,000   8,000,000 39,000,000            
      scheduled premiums earned
    		         8,000,000 10,000,000 8,000,000 10,000,000 10,000,000 11,000,000 11,000,000 26,000,000 12,000,000 15,000,000 14,000,000 14,000,000 16,000,000 17,000,000 18,000,000 23,000,000 28,000,000 77,000,000 116,000,000 147,520,000 174,732,000 170,701,000 170,112,000 169,130,000 167,715,000 131,991,000 173,302,000 169,873,000 140,653,000 
      refunding premiums earned
    		           8,000,000 1,000,000 1,000,000 4,000,000  3,000,000 2,000,000 5,000,000 4,000,000 2,000,000 4,000,000 3,000,000 5,000,000 17,000,000 21,000,000 47,000,000 33,000,000 7,795,000 45,935,000 39,797,000 42,215,000 47,606,000 38,184,000 25,084,500 30,770,000 31,904,000 20,527,000 
      net gains (losses) on extinguishment of debt
    		         1,000,000                             
      total revenues
    		         28,000,000 2,000,000 57,000,000 17,000,000 40,000,000 40,000,000 27,000,000 72,000,000 18,000,000 72,000,000 103,000,000 71,000,000 -6,000,000 172,000,000 50,000,000 73,000,000 77,000,000 112,000,000 98,000,000 -2,956,120,000         408,924,000 
      yoy
    		         -30.00% -95.00% 111.11% -76.39% 122.22% -44.44% -73.79% 1.41% -400.00% -58.14% 106.00% -2.74% -107.79% 53.57% -48.98% -102.47%              
      qoq
    		         1300.00% -96.49% 235.29% -57.50% 0.00% 48.15% -62.50% 300.00% -75.00% -30.10% 45.07% -1283.33% -103.49% 244.00% -31.51% -5.19% -31.25% 14.29% -103.32%           
      total expenses
    		         106,000,000 85,000,000 61,000,000 52,000,000 76,000,000 113,000,000 182,000,000 195,000,000 79,000,000 178,000,000 184,000,000 129,000,000 327,000,000 83,000,000 69,000,000 169,000,000 197,000,000 376,000,000 245,000,000 743,717,000         95,704,000 
      revenues:
    		                                      
      expenses:
    		                                      
      less: net income from discontinued operations attributable to noncontrolling interests
    		          7,000,000                            
      weighted-average number of common shares outstanding:
    		                                      
      basic
    		49,278,281,000,000 49,597,200,000,000 49,543,258,000,000 48,354,307,000,000 47,436,079,000,000 47,671,114,000,000 47,501,248,000,000 46,820,922,000,000 47,009,765,000,000 49,040,489,000,000 49,945,917,000,000 49,803,739,000,000 49,878,191,000,000 49,826,695,000,000 49,631,448,000,000 49,472,281,000,000 49,552,796,000,000 49,488,368,000,000 49,258,110,000,000 59,071,843,000,000 52,588,533,000,000 72,089,016,000,000 78,686,542,000,000 85,554,236,000,000 88,131,373,000,000 131,402,465,000,000 193,104,610,000,000 199,295,797,000,000 184,708,960,000 127,386,668,000 131,972,954,000 132,794,395,000 132,765,468,000 132,717,298,000 134,098,392,000 132,622,848,000 141,408,855,000 144,042,116,000 
      diluted
    		49,278,281,000,000 49,597,200,000,000 49,543,258,000,000 48,354,307,000,000 47,436,079,000,000 47,671,114,000,000 47,501,248,000,000 46,820,922,000,000 47,009,765,000,000 49,040,489,000,000 49,945,917,000,000 49,803,739,000,000 49,878,191,000,000 49,826,695,000,000 49,631,448,000,000 49,472,281,000,000 49,552,796,000,000 49,488,368,000,000 49,258,110,000,000 59,071,843,000,000 52,588,533,000,000 72,089,016,000,000 78,686,542,000,000 85,554,236,000,000 88,131,373,000,000 131,402,465,000,000 193,104,610,000,000 200,064,679,000,000 184,708,960,000 131,460,764,000 136,090,503,000 136,739,403,000 136,634,382,000 136,547,417,000 137,220,731,000 135,822,330,000 144,125,409,000 145,357,445,000 
      discontinuing operations
    		           2,500 10,000                          
      income before income taxes
    		             -36,000,000 -73,000,000 -155,000,000 -123,000,000 -61,000,000 -106,000,000 -81,000,000 -58,000,000 -333,000,000 89,000,000 -19,000,000 -96,000,000 -120,000,000 -264,000,000 -147,000,000 -3,699,837,000    305,369,000 274,512,000    313,220,000 
      net income per common share
    		                                      
      basic
    		             -720,000 -1,480,000 -3,120,000 -2,490,000 -1,230,000 -2,160,000 -1,810,000 -1,110,000 -4,620,000 860,000 -200,000 -1,120,000 -550,000 -920,000 690,000 -13,030 1,660 1,500 1,640 1,670 1,500 1,370 1,070 1,320 1,550 
      diluted
    		             -720,000 -1,480,000 -3,120,000 -2,490,000 -1,230,000 -2,160,000 -1,810,000 -1,110,000 -4,620,000 860,000 -200,000 -1,120,000 -550,000 -920,000 680,000 -13,030 1,610 1,460 1,590 1,620 1,460 1,340 1,040 1,290 1,540 
      net income per common share:
    		                                      
      basic
    		             -720,000 -1,480,000 -3,120,000 -2,490,000 -1,230,000 -2,160,000 -1,810,000 -1,110,000 -4,620,000 860,000 -200,000 -1,120,000 -550,000 -920,000 690,000 -13,030 1,660 1,500 1,640 1,670 1,500 1,370 1,070 1,320 1,550 
      diluted
    		             -720,000 -1,480,000 -3,120,000 -2,490,000 -1,230,000 -2,160,000 -1,810,000 -1,110,000 -4,620,000 860,000 -200,000 -1,120,000 -550,000 -920,000 680,000 -13,030 1,610 1,460 1,590 1,620 1,460 1,340 1,040 1,290 1,540 
      change in fair value of insured derivatives:
    		                                      
      realized gains and other settlements on insured derivatives
    		                      -9,000,000  -19,000,000 -31,000,000 -1,532,000,000 -191,000,000 33,758,000          
      unrealized gains on insured derivatives
    		                      9,000,000 14,000,000 14,000,000 -22,000,000 1,350,000,000 116,000,000           
      net change in fair value of insured derivatives
    		                       14,000,000  -53,000,000 -182,000,000 -75,000,000 -3,543,345,000          
      net investment losses related to other-than-temporary impairments:
    		                                      
      other-than-temporary impairments recognized in accumulated other comprehensive income
    		                       -28,000,000               
      net investment losses related to other-than-temporary impairments
    		                       -28,000,000    -20,000,000           
      investment losses related to other-than-temporary impairments
    		                                      
      investment losses related to other-than-temporary impairments:
    		                                      
      other-than-temporary impairments recognized in accumulated other comprehensive loss
    		                           -14,000,000           
      gross premiums written
    		                            114,711,000 247,562,000 217,626,000 202,178,000 251,476,000 172,872,000 232,354,000 220,970,000 255,609,000 288,147,000 
      ceded premiums
    		                            -17,450,000 -26,525,000 -21,369,000 -26,461,000 -27,166,000 -23,905,000 -28,751,000 -34,608,000 -51,914,000 -64,119,000 
      net premiums written
    		                            97,261,000 221,037,000 196,257,000 175,717,000 224,310,000 148,967,000 203,603,000 186,362,000 203,695,000 224,028,000 
      unrealized losses on insured derivatives
    		                            -3,577,103,000          
      net realized gains
    		                            -167,009,000 31,052,000 992,000 4,021,000 17,085,000 -7,012,000 -1,756,000 -7,526,000 304,000 30,157,000 
      insurance recoveries
    		                             3,000,000 3,400,000        
      interest expense
    		                            377,070,000 20,711,000 21,736,000 22,225,000 18,786,000 12,918,000 204,361,000 184,397,000 106,431,000 16,949,000 
      insurance
    		                                      
      total insurance revenues
    		                             388,480,000 369,611,000 393,106,000 383,535,000 351,830,000 345,174,000 330,995,000 325,296,000 280,903,000 
      total insurance expenses
    		                             94,155,000 91,418,000 96,868,000 92,092,000 86,037,000 77,822,000 76,810,000 62,549,000 53,303,000 
      insurance income
    		                             294,325,000 278,193,000 296,238,000 291,443,000 265,793,000 267,352,000 254,185,000 262,747,000 227,600,000 
      investment management services
    		                                      
      total investment management services revenues
    		                             390,645,000 354,171,000 314,249,000 300,262,000 260,784,000 247,014,000 268,562,000   
      total investment management services expenses
    		                             364,309,000 337,158,000 282,866,000 268,382,000 234,337,000 226,747,000 202,738,000   
      investment management services income
    		                             26,336,000 17,013,000 31,383,000 31,880,000 26,447,000 20,267,000 65,824,000 16,272,000 13,441,000 
      corporate
    		                                      
      corporate expenses
    		                             8,461,000 8,455,000 5,260,000 3,357,000 2,302,000 5,011,000 81,391,000 4,174,000 3,663,000 
      corporate loss
    		                             -27,644,000 -18,165,000 -21,099,000 -19,040,000 -18,243,000 -30,025,000 -99,834,000 -20,038,000 -18,239,000 
      benefit from income taxes
    		                             81,186,000 78,430,000 89,969,000 84,007,000 75,518,000 76,213,000 77,601,000   
      income from discontinued operations, net of tax
    		                               1,394,000    -1,093,000   
      income from continuing operations per common share:
    		                                      
      basic
    		                             1,660 1,500 1,630   1,380 1,080   
      diluted
    		                             1,610 1,460 1,580   1,350 1,050   
      gross revenues from operations
    		                             780,124,000 734,251,000  693,694,000 622,444,000     
      gross expenses from operations
    		                             487,107,000 457,210,000  388,325,000 347,932,000     
      net gains on derivative instruments and foreign exchange
    		                               -4,706,000 1,305,000 4,757,000 -4,851,000 2,485,000 -1,914,000  
      gross revenues from continuing operations
    		                               711,786,000   599,854,000 608,818,000 476,188,000  
      gross expenses from continuing operations
    		                               405,264,000   340,920,000 388,340,000 218,205,000  
      municipal services
    		                                      
      total municipal services revenues
    		                                5,410,000 5,640,000 7,822,000 5,624,000   
      municipal services income
    		                                1,086,000 515,000 1,340,000 303,000 612,000 52,000 
      advisory fees
    		                                  8,067,000 9,529,000 6,156,000 13,302,000 
      gain on sale of discontinued operations, net of tax
    		                                      
      income from discontinued operations
    		                                   -1,093,000   
      losses and lae incurred
    		                                    20,384,000 16,878,000 
      net revenues
    		                                    35,892,000  
      gains and losses
    		                                      
      net gains and losses
    		                                    -1,610,000 90,366,000 
      weighted-average common shares outstanding:
    		                                      
      basic
    		49,278,281,000,000 49,597,200,000,000 49,543,258,000,000 48,354,307,000,000 47,436,079,000,000 47,671,114,000,000 47,501,248,000,000 46,820,922,000,000 47,009,765,000,000 49,040,489,000,000 49,945,917,000,000 49,803,739,000,000 49,878,191,000,000 49,826,695,000,000 49,631,448,000,000 49,472,281,000,000 49,552,796,000,000 49,488,368,000,000 49,258,110,000,000 59,071,843,000,000 52,588,533,000,000 72,089,016,000,000 78,686,542,000,000 85,554,236,000,000 88,131,373,000,000 131,402,465,000,000 193,104,610,000,000 199,295,797,000,000 184,708,960,000 127,386,668,000 131,972,954,000 132,794,395,000 132,765,468,000 132,717,298,000 134,098,392,000 132,622,848,000 141,408,855,000 144,042,116,000 
      diluted
    		49,278,281,000,000 49,597,200,000,000 49,543,258,000,000 48,354,307,000,000 47,436,079,000,000 47,671,114,000,000 47,501,248,000,000 46,820,922,000,000 47,009,765,000,000 49,040,489,000,000 49,945,917,000,000 49,803,739,000,000 49,878,191,000,000 49,826,695,000,000 49,631,448,000,000 49,472,281,000,000 49,552,796,000,000 49,488,368,000,000 49,258,110,000,000 59,071,843,000,000 52,588,533,000,000 72,089,016,000,000 78,686,542,000,000 85,554,236,000,000 88,131,373,000,000 131,402,465,000,000 193,104,610,000,000 200,064,679,000,000 184,708,960,000 131,460,764,000 136,090,503,000 136,739,403,000 136,634,382,000 136,547,417,000 137,220,731,000 135,822,330,000 144,125,409,000 145,357,445,000 
      change in fair value of derivative instruments
    		                                     60,209,000 
      income before cumulative effect of accounting change
    		                                     223,326,000 
      cumulative effect of accounting change
    		                                      
      income before cumulative effect of accounting change per common share:
    		                                      
      basic
    		                                     1,550 
      diluted
    		                                     1,540 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-03-31 2019-09-30 2019-03-31 2018-03-31 2017-03-31 2011-06-30 2008-03-31 2007-06-30 2007-03-31 2006-09-30 2006-06-30 2006-03-31 2005-12-31 2005-09-30 2004-09-30 2003-03-31 
                                           
        assets
      		                                     
        investments:
      		                                     
        fixed-maturity securities held as available-for-sale, at fair value
      		1,042,000,000 1,008,000,000 892,000,000 988,000,000 925,000,000 997,000,000 969,000,000 1,040,000,000 1,555,000,000 1,725,000,000 1,957,000,000 1,812,000,000 1,814,000,000 2,188,000,000 2,677,000,000 2,157,000,000 2,088,000,000 2,154,000,000 2,222,000,000 2,257,000,000 2,374,000,000 2,720,000,000 2,840,000,000 3,458,000,000 3,757,000,000 4,701,000,000 8,155,000,000 28,407,120,000 30,398,657,000 28,966,168,000 27,209,053,000 25,440,302,000 24,470,935,000 23,747,204,000 23,388,776,000   
        investments carried at fair value
      		223,000,000 221,000,000 229,000,000 222,000,000 237,000,000 223,000,000 214,000,000 321,000,000 346,000,000 346,000,000 355,000,000 511,000,000 507,000,000 332,000,000 356,000,000 258,000,000 246,000,000 223,000,000 207,000,000 196,000,000 210,000,000 187,000,000 217,000,000 231,000,000 228,000,000 150,000,000            
        short-term investments, at fair value
      		409,000,000 497,000,000 425,000,000 429,000,000 492,000,000 468,000,000 451,000,000 442,000,000 444,000,000 374,000,000 368,000,000 353,000,000 751,000,000 458,000,000 441,000,000 374,000,000 372,000,000 418,000,000 623,000,000 282,000,000 347,000,000 245,000,000 428,000,000 407,000,000 448,000,000             
        other investments at amortized cost
      		1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 2,000,000 3,000,000 3,000,000               1,000,000              
        cash and cash equivalents
      		69,000,000 64,000,000 165,000,000 61,000,000 84,000,000 72,000,000 195,000,000 131,000,000 70,000,000 208,000,000 67,000,000 50,000,000 102,000,000 202,000,000 147,000,000 151,000,000 108,000,000 342,000,000 116,000,000 158,000,000 107,000,000 212,000,000 76,000,000 132,000,000 120,000,000 112,000,000 626,000,000 290,287,000 418,332,000 235,654,000 341,330,000 221,502,000 222,936,000 233,046,000 311,486,000 241,100,000 288,177,000 
        premiums receivable
      		121,000,000 125,000,000 129,000,000 133,000,000 133,000,000 138,000,000 141,000,000 145,000,000 151,000,000 155,000,000 160,000,000 160,000,000 167,000,000 171,000,000 177,000,000 178,000,000 185,000,000 206,000,000 215,000,000 216,000,000 229,000,000 240,000,000 273,000,000 293,000,000 368,000,000 408,000,000 1,429,000,000           
        deferred acquisition costs
      		24,000,000 24,000,000 25,000,000 26,000,000 27,000,000 28,000,000 29,000,000 30,000,000 32,000,000 33,000,000 35,000,000 35,000,000 38,000,000 39,000,000 41,000,000 42,000,000 44,000,000 46,000,000 48,000,000 50,000,000 53,000,000 58,000,000 63,000,000 69,000,000 92,000,000 112,000,000 375,000,000 442,012,000 459,942,000 456,105,000 437,648,000 434,020,000 429,842,000 427,111,000 431,010,000 345,243,000 303,801,000 
        insurance loss recoverable
      		43,000,000 39,000,000 185,000,000 191,000,000 185,000,000 202,000,000 142,000,000 179,000,000 177,000,000 100,000,000 95,000,000 137,000,000 273,000,000 443,000,000 366,000,000 1,296,000,000 1,537,000,000 1,561,000,000 1,622,000,000 1,677,000,000 1,798,000,000 1,607,000,000 1,843,000,000 1,583,000,000 530,000,000 486,000,000 2,658,000,000           
        assets held for sale
      		8,000,000 10,000,000 11,000,000 11,000,000 11,000,000 12,000,000 71,000,000 74,000,000 74,000,000 88,000,000 83,000,000 80,000,000 132,000,000                         
        other assets
      		37,000,000 33,000,000 37,000,000 38,000,000 42,000,000 57,000,000 57,000,000 57,000,000 78,000,000 65,000,000 67,000,000 73,000,000 78,000,000 85,000,000 81,000,000 67,000,000 64,000,000 82,000,000 94,000,000 84,000,000 106,000,000 116,000,000 224,000,000 161,000,000 134,000,000 157,000,000 45,000,000 346,436,000 225,425,000 267,049,000 186,096,000 221,682,000 209,157,000 293,609,000 269,669,000 133,627,000 86,623,000 
        assets of consolidated variable interest entities:
      		                                     
        cash
      		2,000,000 5,000,000 2,000,000 2,000,000 3,000,000 2,000,000 2,000,000 6,000,000 4,000,000 7,000,000 16,000,000 16,000,000 9,000,000 5,000,000 4,000,000 9,000,000 4,000,000 5,000,000 5,000,000 9,000,000 4,000,000 5,000,000 5,000,000 31,000,000 21,000,000 40,000,000 735,000,000           
        loans receivable at fair value
      		34,000,000 33,000,000 33,000,000 30,000,000 28,000,000 30,000,000 31,000,000 36,000,000 32,000,000 70,000,000 83,000,000 78,000,000 79,000,000 68,000,000 76,000,000 77,000,000 77,000,000 129,000,000 124,000,000 120,000,000 114,000,000 98,000,000 146,000,000 206,000,000 1,662,000,000 1,716,000,000 2,320,000,000           
        liabilities and equity
      		                                     
        liabilities:
      		                                     
        unearned premium revenue
      		172,000,000 178,000,000 186,000,000 192,000,000 199,000,000 208,000,000 216,000,000 224,000,000 240,000,000 249,000,000 257,000,000 266,000,000 287,000,000 297,000,000 308,000,000 322,000,000 333,000,000 372,000,000 386,000,000 405,000,000 429,000,000 464,000,000 499,000,000 544,000,000 712,000,000 913,000,000 3,801,000,000           
        loss and loss adjustment expense reserves
      		454,000,000 443,000,000 526,000,000 521,000,000 526,000,000 524,000,000 577,000,000 470,000,000 450,000,000 361,000,000 379,000,000 439,000,000 1,047,000,000 965,000,000 886,000,000 894,000,000 850,000,000 954,000,000 990,000,000 990,000,000 991,000,000 966,000,000 859,000,000 806,000,000 1,006,000,000 559,000,000 865,000,000 1,542,378,000 520,080,000 533,773,000 725,629,000 708,293,000 730,352,000 721,502,000 711,423,000 567,830,000 577,294,000 
        long-term debt
      		2,843,000,000 2,853,000,000 2,814,000,000 2,780,000,000 2,741,000,000 2,705,000,000 2,663,000,000 2,625,000,000 2,546,000,000 2,505,000,000 2,467,000,000 2,428,000,000 2,393,000,000 2,359,000,000 2,344,000,000 2,331,000,000 2,308,000,000 2,283,000,000 2,258,000,000 2,229,000,000 2,318,000,000 2,261,000,000 2,199,000,000 2,284,000,000 2,154,000,000 2,034,000,000 1,843,000,000 2,247,140,000 1,214,134,000 1,214,985,000 1,216,403,000 1,219,962,000 1,211,356,000 1,210,405,000 1,313,375,000 1,018,959,000 1,035,690,000 
        medium-term notes
      		472,000,000 463,000,000 454,000,000 447,000,000 440,000,000 440,000,000 432,000,000 457,000,000 495,000,000 494,000,000 507,000,000 501,000,000 484,000,000 493,000,000 589,000,000 590,000,000 592,000,000 638,000,000 698,000,000 710,000,000 686,000,000 663,000,000 670,000,000 721,000,000 790,000,000 830,000,000 1,763,000,000 11,353,744,000 13,799,029,000 12,174,588,000 9,005,718,000 7,806,665,000 7,508,714,000 7,542,416,000 7,905,890,000   
        investment agreements
      		174,000,000 173,000,000 203,000,000 203,000,000 204,000,000 202,000,000 221,000,000 220,000,000 225,000,000 236,000,000 233,000,000 233,000,000 273,000,000 277,000,000 274,000,000 274,000,000 271,000,000 269,000,000 268,000,000 269,000,000 293,000,000 295,000,000 310,000,000 313,000,000 330,000,000 390,000,000 1,632,000,000 15,998,310,000 13,361,280,000 12,300,127,000 11,811,231,000 11,801,633,000 11,149,718,000 10,806,277,000 10,061,756,000   
        liabilities held for sale
      		6,000,000 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000 64,000,000 64,000,000 65,000,000 70,000,000 68,000,000 61,000,000 59,000,000                         
        other liabilities
      		73,000,000 67,000,000 67,000,000 56,000,000 78,000,000 86,000,000 70,000,000 85,000,000 82,000,000 84,000,000 81,000,000 94,000,000 92,000,000 122,000,000 210,000,000 163,000,000 194,000,000 169,000,000 203,000,000 161,000,000 176,000,000 120,000,000 195,000,000 152,000,000 162,000,000 235,000,000 232,000,000 1,009,185,000 528,812,000 533,676,000 626,983,000 519,872,000 507,987,000 600,810,000 525,598,000 420,903,000 313,823,000 
        liabilities of consolidated variable interest entities:
      		                                     
        commitments and contingencies
      		                                     
        equity:
      		                                     
        preferred stock, par value 1 per share; authorized shares--10,000,000; issued and outstanding--none
      		                                     
        common stock
      		283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 283,000,000 284,000,000 284,000,000 284,000,000 284,000,000 275,000,000 271,755,000 160,170,000 159,751,000 157,812,000 157,539,000 157,453,000 156,602,000 156,539,000 155,137,000 152,886,000 
        additional paid-in capital
      		2,450,000,000 2,453,000,000 2,453,000,000 2,460,000,000 2,492,000,000 2,483,000,000 2,483,000,000 2,486,000,000 2,919,000,000 2,915,000,000 2,915,000,000 2,925,000,000 2,921,000,000 2,919,000,000 2,919,000,000 2,931,000,000 2,936,000,000 2,934,000,000 2,934,000,000 2,962,000,000 2,960,000,000 2,961,000,000 2,997,000,000 2,996,000,000 3,174,000,000 3,166,000,000 3,066,000,000 3,082,349,000 1,627,913,000 1,588,438,000 1,490,066,000 1,467,493,000 1,530,811,000 1,479,447,000 1,473,190,000 1,388,095,000 1,256,881,000 
        retained earnings
      		-1,768,000,000 -1,717,000,000 -1,709,000,000 -1,653,000,000 -1,591,000,000 -1,540,000,000 -1,484,000,000 -1,230,000,000 -1,006,000,000 -820,000,000 -746,000,000 -653,000,000 -601,000,000 -567,000,000 -531,000,000 -458,000,000 -303,000,000 -180,000,000 -119,000,000 -13,000,000 68,000,000 232,000,000 850,000,000 949,000,000 1,164,000,000 2,628,000,000 986,000,000 1,895,148,000 6,719,357,000 6,550,849,000 6,260,164,000 6,084,005,000 5,904,405,000 5,747,171,000 5,601,993,000 5,101,003,000 4,089,596,000 
        accumulated other comprehensive income, net of tax of 7 and 7
      		-95,000,000 -89,000,000 -96,000,000 -99,000,000 -128,000,000 -88,000,000 -137,000,000 -131,000,000                              
        treasury stock
      		-3,107,000,000 -3,110,000,000 -3,109,000,000 -3,117,000,000 -3,145,000,000 -3,139,000,000 -3,139,000,000 -3,141,000,000 -3,172,000,000 -3,165,000,000 -3,143,000,000 -3,154,000,000 -3,152,000,000 -3,152,000,000 -3,154,000,000 -3,169,000,000 -3,176,000,000 -3,176,000,000 -3,178,000,000 -3,211,000,000 -3,211,000,000 -3,083,000,000 -3,053,000,000 -2,967,000,000 -3,133,000,000 -2,833,000,000 -2,251,000,000 -1,964,942,000 -1,888,236,000 -1,560,719,000 -1,174,976,000 -1,161,366,000 -1,158,107,000 -1,147,100,000 -1,142,424,000 -637,015,000 -367,882,000 
        preferred stock of subsidiary and noncontrolling interests
      		7,000,000                                     
        preferred stock of subsidiary
      		 13,000,000 13,000,000 13,000,000          13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 12,000,000 12,000,000            
        preferred stock of subsidiary and noncontrolling interest held for sale
      		    13,000,000 13,000,000 9,000,000 10,000,000 11,000,000 12,000,000 13,000,000 6,000,000 14,000,000                         
        derivative liabilities
      		        23,000,000 48,000,000 57,000,000 49,000,000 49,000,000 72,000,000 99,000,000 131,000,000 133,000,000 140,000,000 126,000,000 215,000,000 228,000,000 206,000,000 194,000,000 199,000,000 219,000,000 313,000,000 5,934,000,000 9,134,441,000 528,295,000 423,394,000 390,435,000 483,499,000 420,725,000 384,611,000 421,918,000 415,987,000 240,764,000 
        accumulated other comprehensive income, net of tax of 7 and 8
      		        -263,000,000 -213,000,000 -221,000,000                           
        total investments
      		         2,445,000,000 2,680,000,000 2,676,000,000 3,072,000,000 2,978,000,000 3,474,000,000 2,793,000,000 2,710,000,000 2,797,000,000 3,052,000,000 2,736,000,000 2,932,000,000 3,153,000,000 3,495,000,000 4,100,000,000 4,466,000,000 5,392,000,000  41,783,852,000 40,108,311,000 38,430,916,000 35,302,280,000 33,016,348,000 33,282,653,000 32,154,666,000 32,404,004,000 27,985,536,000 17,382,246,000 
        total assets
      		         3,257,000,000 3,317,000,000 3,375,000,000 4,015,000,000 4,067,000,000 4,443,000,000 4,696,000,000 4,816,000,000 5,252,000,000 5,375,000,000 5,751,000,000 6,551,000,000 6,632,000,000 7,606,000,000 8,778,000,000 8,893,000,000 11,017,000,000 31,668,000,000 49,686,725,000 43,153,834,000 41,227,486,000 37,939,584,000 35,631,577,000 35,716,193,000 34,561,394,000 34,930,060,000 30,800,435,000 19,300,000,000 
        variable interest entity debt
      		         186,000,000 156,000,000 174,000,000                          
        total liabilities
      		         4,245,000,000 4,216,000,000 4,251,000,000 4,864,000,000 4,802,000,000 4,995,000,000 4,996,000,000 4,973,000,000 5,275,000,000 5,403,000,000 5,602,000,000 6,308,000,000 6,135,000,000 6,558,000,000 7,577,000,000 7,633,000,000 7,791,000,000 29,763,000,000 47,626,551,000 36,370,000,000 34,180,059,000 30,882,826,000 28,963,644,000 29,114,730,000 27,969,750,000 28,435,283,000 24,269,120,000 13,635,437,000 
        preferred stock, par value 1 per share; authorized shares—10,000,000; issued and outstanding—none
      		                                     
        total shareholders’ equity of mbia inc.
      		         -1,000,000,000 -912,000,000 -882,000,000 -863,000,000 -748,000,000 -565,000,000 -313,000,000 -170,000,000 -36,000,000 -41,000,000 136,000,000 230,000,000 484,000,000 1,035,000,000 1,188,000,000 1,248,000,000 3,214,000,000            
        total equity
      		         -988,000,000 -899,000,000 -876,000,000 -849,000,000 -735,000,000 -552,000,000 -300,000,000 -157,000,000 -23,000,000 -28,000,000 149,000,000 243,000,000 497,000,000 1,048,000,000 1,201,000,000 1,260,000,000 3,226,000,000 1,905,000,000           
        total liabilities and equity
      		         3,257,000,000 3,317,000,000 3,375,000,000 4,015,000,000 4,067,000,000 4,443,000,000 4,696,000,000 4,816,000,000 5,252,000,000 5,375,000,000 5,751,000,000 6,551,000,000 6,632,000,000 7,606,000,000 8,778,000,000 8,893,000,000 11,017,000,000 31,668,000,000           
        investments pledged as collateral, at fair value
      		               4,000,000 4,000,000 2,000,000  1,000,000 1,000,000 1,000,000 10,000,000 3,000,000 32,000,000 137,000,000 599,000,000 1,085,245,000          
        preferred stock, par value 1 per share; authorized shares--10,000,000; issued and outstanding—none
      		                                     
        accumulated other comprehensive income, net of tax of 8 and 8
      		           -283,000,000 -314,000,000 -231,000,000 -82,000,000 100,000,000 90,000,000 103,000,000 39,000,000 115,000,000 130,000,000 91,000,000                
        variable interest entity notes and loans payable
      		            175,000,000                         
        variable interest entity notes carried at fair value
      		             217,000,000 285,000,000                       
        preferred stock, par value 1 per share; authorized shares - 10,000,000; issued and outstanding - none
      		                                     
        loan repurchase commitments
      		                   604,000,000 530,000,000 506,000,000 478,000,000 420,000,000 407,000,000 409,000,000 905,000,000           
        variable interest entity notes
      		               291,000,000 292,000,000 450,000,000 451,000,000 623,000,000 1,187,000,000 1,160,000,000 1,632,000,000 2,558,000,000 2,260,000,000 2,517,000,000 10,449,000,000           
        investments held-to-maturity, at amortized cost
      		                    575,000,000 529,000,000 890,000,000 890,000,000 890,000,000 890,000,000 3,934,000,000 4,544,549,000 5,368,999,000 5,047,718,000 5,070,668,000 4,588,155,000 5,271,708,000 5,765,182,000 6,374,234,000   
        accumulated other comprehensive income, net of tax of 21 and 8
      		                      -43,000,000               
        accumulated other comprehensive income, net of tax of 4 and 8
      		                       -74,000,000              
        other investments
      		                        1,000,000 6,000,000 160,000,000 664,749,000 919,700,000 866,202,000 200,963,000 240,736,000 267,009,000 234,927,000 243,845,000 261,941,000 198,663,000 
        accumulated other comprehensive income, net of tax of 7 and 16
      		                        -241,000,000             
        short-term investments held as available-for-sale, at fair value
      		                         398,000,000 1,754,000,000           
        deferred income taxes
      		                         1,019,000,000 1,574,000,000 2,873,131,000 398,451,000 462,881,000 510,843,000 379,226,000 475,646,000 569,536,000 557,166,000 532,991,000 484,832,000 
        accumulated other comprehensive income, net of tax of 17 and 37
      		                         -31,000,000            
        fixed-maturity securities at fair value
      		                          183,000,000           
        total
      		                          10,851,000,000           
        accrued investment income
      		                          91,000,000 576,207,000 565,490,000 555,548,000 497,668,000 446,821,000 418,643,000 396,048,000 378,895,000 294,985,000 217,045,000 
        prepaid reinsurance premiums
      		                          94,000,000 312,142,000 337,052,000 347,883,000 373,463,000 385,704,000 394,608,000 407,614,000 417,293,000 563,630,000 530,488,000 
        reinsurance recoverable on paid and unpaid losses
      		                          20,000,000           
        goodwill
      		                          31,000,000 79,406,000 79,406,000 79,406,000 79,406,000 79,406,000 79,406,000 79,406,000 79,406,000 79,406,000 90,041,000 
        property and equipment, at cost
      		                          70,000,000 103,007,000 99,240,000 100,776,000 106,015,000 107,356,000 107,438,000 109,275,000 109,050,000 115,307,000 126,004,000 
        receivable for investments sold
      		                          76,000,000 449,364,000 102,030,000 204,552,000 127,136,000 74,108,000 82,611,000 74,787,000 191,315,000 174,374,000 54,017,000 
        derivative assets
      		                          3,000,000 2,323,098,000 710,528,000 501,972,000 441,540,000 600,158,000 429,575,000 326,867,000 292,255,000 234,428,000 177,336,000 
        current income taxes
      		                          23,000,000  43,629,000 56,548,000 38,610,000  9,968,000   18,661,000 84,203,000 
        reinsurance premiums payable
      		                          69,000,000           
        securities sold under agreements to repurchase
      		                          387,000,000 1,019,155,000 524,101,000 649,209,000 757,260,000 508,154,000 1,031,325,000 646,343,000 603,652,000 372,049,000 719,167,000 
        short-term debt
      		                           7,158,000 13,383,000 40,898,000 40,898,000 40,898,000 58,745,000 58,745,000 58,745,000 58,745,000  
        deferred fee revenue
      		                          9,000,000 15,115,000 14,991,000 14,628,000 16,891,000 17,680,000 18,399,000 20,379,000 20,917,000 19,444,000 23,998,000 
        payable for settlement of derivatives and investments purchased
      		                          235,000,000           
        preferred stock, par value 1 per share; authorized shares — 10,000,000; issued and outstanding — none
      		                                     
        accumulated other comprehensive loss, net of deferred tax of 122 and 229
      		                          -195,000,000           
        total shareholders' equity of mbia inc.
      		                          1,881,000,000           
        preferred stock of subsidiary and noncontrolling interest
      		                          24,000,000           
        short-term investments, at amortized cost
      		                           7,082,189,000 2,879,689,000 2,856,023,000 2,000,179,000 2,187,705,000 2,184,720,000 1,678,281,000 1,987,668,000  792,148,000 
        reinsurance recoverable on unpaid losses
      		                           107,783,000 48,078,000 47,625,000 47,002,000 44,472,000 59,324,000 58,965,000 45,677,000 32,492,000 44,222,000 
        liabilities and shareholders’ equity
      		                                     
        deferred premium revenue
      		                           3,045,903,000 3,096,434,000 3,101,278,000 3,084,419,000 3,123,086,000 3,116,502,000 3,185,200,000 3,208,059,000 3,163,773,000 2,828,100,000 
        commercial paper
      		                           362,478,000 714,591,000 723,072,000 755,234,000 753,594,000 872,526,000 859,997,000 1,745,767,000   
        variable interest entity floating rate notes
      		                           1,353,045,000 1,381,603,000 1,413,203,000 1,475,750,000 1,228,760,000 1,248,194,000 1,280,160,000 801,115,000   
        payable for investments purchased
      		                           504,916,000 231,187,000 537,799,000 426,522,000 372,322,000 754,573,000 83,369,000 499,902,000 240,535,000 119,526,000 
        shareholders’ equity:
      		                                     
        accumulated other comprehensive loss, net of deferred income tax of
      		                           -1,224,136,000          
        total shareholders’ equity
      		                           2,060,174,000 6,783,834,000 7,047,427,000 7,056,758,000 6,667,933,000 6,601,463,000 6,591,644,000 6,494,777,000 6,531,315,000  
        total liabilities and shareholders’ equity
      		                           49,686,725,000 43,153,834,000 41,227,486,000 37,939,584,000 35,631,577,000 35,716,193,000 34,561,394,000 34,930,060,000 30,800,435,000  
        investment agreement portfolio pledged as collateral, at fair value
      		                            541,266,000 694,805,000 821,417,000 559,450,000 1,088,281,000 729,072,000 409,481,000   
        accumulated other comprehensive income, net of deferred income tax of 93,178 and 172,798
      		                            164,630,000         
        accumulated other comprehensive income, net of deferred income tax of 166,758 and 172,798
      		                             309,108,000        
        accumulated other comprehensive income, net of deferred income tax of 177,319 and 238,881
      		                              323,692,000       
        accumulated other comprehensive income, net of deferred income tax of 72,239 and 238,881
      		                               120,262,000      
        accumulated other comprehensive income, net of deferred income tax of 140,828 and 238,881
      		                                243,548,000     
        unearned compensation — restricted stock
      		                                -76,647,000 -43,857,000 -48,699,000   
        accumulated other comprehensive income, net of deferred income tax of 238,881 and 321,565
      		                                 399,381,000    
        accumulated other comprehensive income, net of deferred income tax of 264,632 and 321,565
      		                                  454,178,000   
        fixed-maturity securities held as available-for-sale at fair value
      		                                   19,270,348,000 8,128,081,000 
        conduit investments held-to-maturity at amortized cost
      		                                   6,002,934,000  
        investment agreement portfolio pledged as collateral at fair value
      		                                   437,228,000 916,327,000 
        short-term investments at amortized cost
      		                                   2,013,085,000  
        variable interest entity assets
      		                                   600,307,000  
        investment agreement and medium-term note obligations
      		                                   11,183,068,000 6,718,370,000 
        conduit debt obligations
      		                                   5,655,868,000  
        variable interest entity liabilities
      		                                   600,307,000  
        preferred stock, par value 1 per share; authorized shares—10,000,000; issued and outstanding — none
      		                                     
        accumulated other comprehensive income, net of deferred income tax of 300,436 and 337,175
      		                                   562,552,000  
        unearned compensation—restricted stock
      		                                   -38,457,000 -17,416,000 
        investments: - sum
      		                                    9,118,892,000 
        investment agreement and medium-term note portfolios held as available-for-sale at fair value
      		                                    7,347,027,000 
        liabilities and shareholders' equity
      		                                     
        investment repurchase agreement obligations
      		                                    489,670,000 
        shareholders' equity:
      		                                     
        accumulated other comprehensive income, net of deferred income tax provision of 296,056 and 294,160
      		                                    550,668,000 
        unallocated esop shares
      		                                    -170,000 
        total shareholders' equity
      		                                    5,664,563,000 
        total liabilities and shareholders' equity
      		                                    19,300,000,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-03-31 2019-03-31 2018-03-31 2017-03-31 2011-06-30 2008-03-31 2007-06-30 2007-03-31 2006-09-30 2006-06-30 2006-03-31 2005-12-31 2003-03-31 
                                       
          cash flows from operating activities:
        		                               
          premiums, fees and reimbursements received
        		3,000,000 5,000,000 3,000,000 6,000,000 4,000,000 5,000,000 2,000,000 5,000,000 2,000,000 8,000,000 5,000,000 10,000,000 2,000,000 8,000,000 24,000,000 9,000,000 3,000,000 8,000,000 3,000,000 3,000,000 10,000,000 9,000,000          
          investment income received
        		14,000,000 12,000,000 13,000,000 13,000,000 13,000,000 15,000,000 16,000,000 24,000,000 26,000,000 24,000,000 27,000,000 22,000,000 19,000,000 17,000,000 19,000,000 20,000,000 21,000,000 22,000,000 37,000,000 44,000,000 59,000,000 64,000,000          
          financial guarantee losses and loss adjustment expenses paid
        		-105,000,000 -8,000,000 -21,000,000 -6,000,000 -126,000,000 -6,000,000 -19,000,000 -59,000,000 -28,000,000 -627,000,000 -125,000,000 -20,000,000 -336,000,000 -28,000,000 -238,000,000 -19,000,000 -58,000,000 -14,000,000 -75,000,000 -95,000,000 -86,000,000 -469,000,000          
          proceeds from recoveries and reinsurance, net of salvage paid to reinsurers
        		218,000,000 12,000,000 3,000,000 12,000,000 6,000,000 2,000,000 2,000,000 3,000,000 3,000,000 47,000,000 43,000,000                     
          operating expenses paid and other operating
        		-18,000,000 -10,000,000 -32,000,000 -15,000,000 -7,000,000 -16,000,000 -19,000,000 -14,000,000 -34,000,000 -18,000,000 -35,000,000 -22,000,000 -22,000,000                   
          other proceeds from consolidated variable interest entities
        		   0 0   13,000,000 15,000,000                       
          interest paid, net of interest converted to principal
        		-22,000,000 -10,000,000 -9,000,000 -7,000,000 -22,000,000 -12,000,000 -12,000,000 -13,000,000 -14,000,000 -8,000,000 -10,000,000 -13,000,000 -12,000,000 -13,000,000 -11,000,000 -15,000,000 -22,000,000 -17,000,000 -23,000,000 -46,000,000 -42,000,000 -35,000,000          
          cash (used) provided by discontinued operations
        		   0    -1,000,000 -6,000,000                       
          cash flows from investing activities:
        		                               
          purchases of available-for-sale investments
        		-161,000,000 -36,000,000 -137,000,000 -51,000,000 -51,000,000 -55,000,000 -53,000,000 -48,000,000 -247,000,000 -173,000,000 -174,000,000 -310,000,000 -352,000,000 -352,000,000 -140,000,000 -372,000,000 -299,000,000 -233,000,000 -242,000,000 -747,000,000 -819,000,000 -394,000,000          
          sales of available-for-sale investments
        		2,000,000 61,000,000 62,000,000 15,000,000 45,000,000 27,000,000 28,000,000 174,000,000 98,000,000 241,000,000 339,000,000 414,000,000 106,000,000 128,000,000 73,000,000 218,000,000 178,000,000 233,000,000 279,000,000 683,000,000 651,000,000 271,000,000          
          paydowns, maturities and other proceeds of available-for-sale investments
        		57,000,000 74,000,000 29,000,000 66,000,000 24,000,000 89,000,000 28,000,000                         
          purchases of investments at fair value
        		-22,000,000 -11,000,000 -11,000,000 -22,000,000 -24,000,000 -22,000,000 -46,000,000 -21,000,000 -24,000,000 -27,000,000 -39,000,000 -35,000,000 -47,000,000 -47,000,000 -56,000,000 -41,000,000 -62,000,000 -42,000,000 -33,000,000 -69,000,000 -53,000,000 -69,000,000          
          sales, paydowns, maturities and other proceeds of investments at fair value
        		18,000,000 10,000,000 22,000,000 16,000,000 19,000,000 89,000,000 65,000,000 31,000,000 206,000,000  117,000,000 28,000,000 44,000,000  28,000,000 49,000,000 59,000,000  34,000,000 122,000,000            
          sales, paydowns and maturities (purchases) of short-term investments
        		-68,000,000 8,000,000 66,000,000 -20,000,000 -4,000,000 -12,000,000 112,000,000 -3,000,000 -13,000,000 402,000,000 -293,000,000 -10,000,000 -68,000,000 -5,000,000 44,000,000 204,000,000 -342,000,000 66,000,000 178,000,000 -154,000,000 222,000,000 206,000,000          
          proceeds (payments) from discontinued operations
        		                               
          other investing
        		2,000,000 0 1,000,000                   -23,000,000          
          cash flows from financing activities:
        		                               
          principal paydowns of investment agreements
        		-15,000,000   0 -4,000,000 0 -1,000,000 0 -1,000,000 -45,000,000 -7,000,000 -1,000,000 -1,000,000 -1,000,000 1,000,000   -27,000,000 -12,000,000   -13,000,000          
          principal paydowns of medium-term notes
        		   0 0 -26,000,000 -36,000,000   0 0   -4,000,000 -28,000,000      -20,000,000 -67,000,000          
          proceeds from variable interest entity debt
        		   6,000,000 0 0 2,000,000                         
          principal paydowns/redemptions of variable interest entity debt
        		-1,000,000 -2,000,000 -6,000,000 -1,000,000 -1,000,000 -21,000,000 -36,000,000                         
          principal paydowns of long-term debt
        		   0 0     0 0 -12,000,000 -17,000,000 -2,000,000                  
          purchases of treasury stock
        		0 0 -7,000,000 0 0 -2,000,000 -2,000,000 -24,000,000 -4,000,000 0 -1,000,000 0 -2,000,000 0 0 0 -1,000,000 0 -62,000,000 -10,000,000 -15,000,000 -31,000,000          
          cash provided (used) by discontinued operations
        		   0    2,000,000 4,000,000                       
          net increase in cash and cash equivalents
        		-98,000,000 104,000,000 -24,000,000 13,000,000 -124,000,000 60,000,000 30,000,000 133,000,000 15,000,000 -46,000,000 -83,000,000 56,000,000 -9,000,000 48,000,000 -235,000,000 226,000,000 -46,000,000 56,000,000 134,000,000 -117,000,000  -35,000,000 204,445,000 26,555,000   121,909,000 -1,434,000 -10,110,000 -78,440,000 204,959,000 
          cash and cash equivalents - beginning of period
        		0 0 87,000,000        0 0 160,000,000  0 0 167,000,000  83,000,000        -2,081,000 0 233,046,000   
          cash and cash equivalents - end of period
        		-98,000,000 104,000,000 63,000,000        -83,000,000 56,000,000 151,000,000  -235,000,000 226,000,000 121,000,000  217,000,000        119,828,000 -1,434,000 222,936,000   
          reconciliation of net income to net cash provided (used) by operating activities:
        		                               
          net income
        		-8,000,000 -56,000,000 -62,000,000 -51,000,000 -52,000,000 -255,000,000 -86,000,000 -75,000,000 -86,000,000 -60,000,000 -34,000,000 -36,000,000 -73,000,000 -155,000,000 -123,000,000 -61,000,000 -106,000,000 -81,000,000 -333,000,000 -17,000,000 -98,000,000 -72,000,000 1,268,732,000 -2,406,732,000 211,831,000 198,611,000 217,947,000 221,362,000 198,994,000 182,721,000 223,326,000 
          income from discontinued operations, net of income taxes
        		   -1,000,000 -1,000,000 -2,000,000 1,000,000  -3,000,000                       
          income from continuing operations
        		-7,000,000 -56,000,000 -62,000,000 -50,000,000 -51,000,000 -253,000,000 -87,000,000 -78,000,000 -83,000,000 -5,000,000               211,831,000 198,611,000      
          adjustments to reconcile net income from continuing operations to net cash provided (used) by operating activities:
        		                               
          supplementary disclosure of consolidated cash flow information:
        		                               
          non-cash financing activities:
        		                               
          variable interest entity debt extinguishment
        		 0 7,000,000                             
          proceeds from litigation settlement
        		                               
          income taxes received
        		                 0              
          paydowns and maturities of loans receivable
        		   1,000,000 1,000,000   2,000,000 3,000,000  3,000,000 2,000,000 2,000,000  50,000,000 20,000,000 5,000,000  3,000,000 7,000,000 48,000,000 70,000,000          
          proceeds for derivative settlements
        		   0 0 0 -1,000,000 0 -1,000,000 -1,000,000 -2,000,000 -3,000,000 -4,000,000 -5,000,000 -4,000,000 -4,000,000 -53,000,000 -4,000,000 -3,000,000 -11,000,000            
          proceeds from discontinued operations
        		   0                            
          proceeds from investment agreements
        		       2,000,000 2,000,000 2,000,000 3,000,000 1,000,000 2,000,000 0    2,000,000 3,000,000 3,000,000 3,000,000 2,000,000          
          dividends paid
        		                       -42,640,000 -44,932,000 -41,816,000 -41,764,000 -41,759,000 -37,541,000 -37,539,000 -24,587,000 
          effect of exchange rate changes on cash and cash equivalents
        		         0 -1,000,000 -2,000,000 1,000,000         1,000,000          
          cash and cash equivalents - beginning of year
        		   0 0 0 108,000,000                         
          cash and cash equivalents - end of year
        		   13,000,000 -124,000,000 60,000,000 138,000,000                         
          non-cash investing activities:
        		                               
          loans receivable disposed of a variable interest entity
        		                               
          other investments, received from sale of net assets held for sale
        		                               
          fixed-maturity securities held as available-for-sale, received as salvage
        		         123,000,000 0                     
          investments carried at fair value, received as salvage
        		         0 165,000,000                     
          net cash provided (used) by operating activities
        		       -42,000,000 -36,000,000 -558,000,000 -92,000,000 -41,000,000 273,000,000 152,000,000 -186,000,000 16,000,000 529,000,000 -2,000,000 -82,000,000 -70,000,000 -101,000,000 -471,000,000          
          net cash provided (used) by investing activities
        		       243,000,000 71,000,000 568,000,000 67,000,000 242,000,000 -254,000,000 -98,000,000 147,000,000 308,000,000 -418,000,000 770,000,000 610,000,000 128,000,000 191,000,000 311,000,000          
          principal paydowns of variable interest entity debt
        		       -38,000,000 -21,000,000                       
          net cash provided (used) by financing activities
        		       -68,000,000 -20,000,000 -56,000,000 -57,000,000 -143,000,000 -29,000,000 -6,000,000 -196,000,000 -98,000,000 -157,000,000 -713,000,000 -394,000,000 -175,000,000 -95,000,000 124,000,000         86,670,000 
          cash and cash equivalents—beginning of period
        		       0 78,000,000           280,000,000 146,000,000 187,000,000  263,732,000  269,277,000     83,218,000 
          cash and cash equivalents—end of period
        		       133,000,000 93,000,000           163,000,000 141,000,000 152,000,000  290,287,000  235,654,000     288,177,000 
          change in:
        		                               
          unearned premium revenue
        		       -8,000,000 -9,000,000 -21,000,000 -10,000,000 -10,000,000 -15,000,000 -11,000,000 -39,000,000 -14,000,000 -19,000,000 -24,000,000 -19,000,000 -43,000,000 -39,000,000 -45,000,000          
          loss and loss adjustment expense reserves
        		       -21,000,000 -66,000,000 -613,000,000 80,000,000 78,000,000 -13,000,000 38,000,000 -100,000,000 -41,000,000 1,000,000 -15,000,000 84,000,000 -58,000,000 21,000,000 359,000,000          
          insurance loss recoverable
        		       -6,000,000 42,000,000 14,000,000 -196,000,000 -90,000,000 392,000,000 241,000,000 24,000,000 61,000,000 55,000,000 121,000,000 86,000,000 -20,000,000 -19,000,000 -691,000,000          
          accrued interest payable
        		       37,000,000 34,000,000 35,000,000 35,000,000 27,000,000 24,000,000 26,000,000 29,000,000 27,000,000 25,000,000 31,000,000 35,000,000 30,000,000 33,000,000 37,000,000      19,165,000 40,067,000 24,428,000  
          other assets and liabilities
        		       -3,000,000 7,000,000                       
          net realized investment gains
        		       7,000,000 3,000,000 4,000,000 13,000,000 21,000,000 3,000,000                   
          net losses on financial instruments at fair value and foreign exchange
        		       9,000,000 16,000,000 4,000,000 11,000,000 -33,000,000 -13,000,000 -5,000,000 -14,000,000 20,000,000 -41,000,000 -62,000,000 48,000,000 -40,000,000 5,000,000 16,000,000          
          other net realized losses
        		       2,000,000 15,000,000 -20,000,000 -6,000,000 16,000,000 3,000,000 7,000,000 9,000,000   0 9,000,000 41,000,000 1,000,000 -31,000,000          
          other operating
        		       19,000,000 5,000,000  7,000,000 -8,000,000 6,000,000 -6,000,000 8,000,000 0 20,000,000 -11,000,000 24,000,000 15,000,000 11,000,000           
          total adjustments to income from continuing operations
        		       36,000,000 47,000,000                       
          paydowns and maturities of available-for-sale investments
        		        49,000,000 86,000,000 104,000,000 156,000,000 65,000,000 144,000,000 152,000,000 234,000,000 96,000,000 111,000,000 123,000,000 234,000,000 94,000,000 169,000,000          
          accrued investment income
        		            -5,000,000    23,000,000 0              
          proceeds from loan repurchase commitments
        		             0 0 0 600,000,000               
          cash from discontinued operations
        		         -1,000,000                      
          sales, paydowns and maturities of investments at fair value
        		                    57,000,000 75,000,000          
          sales, paydowns and maturities of held-to-maturity investments
        		                 575,000,000 315,000,000             
          paydowns and maturities of loans receivable and other instruments at fair value
        		                               
          consolidation of variable interest entities
        		         0          72,000,000  18,000,000          
          capital expenditures
        		                       -1,510,000   -2,896,000 -3,188,000 -1,567,000  -1,473,000 
          free cash flows
        		                       255,923,000   -353,368,000 153,319,000 193,940,000  276,497,000 
          proceeds from receipt of discontinued operations
        		         0                      
          proceeds from variable interest debt
        		                               
          cash and cash equivalents—beginning of year
        		                               
          cash and cash equivalents—end of year
        		                               
          premiums receivable
        		         22,000,000 3,000,000   7,000,000 15,000,000   16,000,000 1,000,000 22,000,000 5,000,000 3,000,000          
          deferred acquisition costs
        		                 3,000,000 2,000,000 3,000,000 4,000,000 6,000,000          
          loan repurchase commitments
        		             0 0 0 604,000,000               
          other liabilities
        		         6,000,000 5,000,000                     
          deferred income tax provision
        		                    1,000,000 -49,000,000       3,477,000 38,884,000 11,244,000 
          other
        		                        9,298,000 19,914,000 13,109,000 38,569,000 -51,700,000 -74,128,000 -14,299,000 
          total adjustments to net income
        		         -552,000,000 -58,000,000 -5,000,000 346,000,000 307,000,000 -63,000,000 77,000,000 635,000,000 79,000,000 251,000,000 -53,000,000  -399,000,000 -2,207,165,000 2,664,165,000 52,268,000 -56,482,000 142,862,000 -64,855,000 -3,487,000  54,644,000 
          supplementary disclosure of non-cash consolidated cash flow information:
        		                               
          proceeds from variable interest entity notes
        		                               
          principal paydowns of variable interest entity notes
        		          -54,000,000 -57,000,000 -11,000,000 1,000,000 -167,000,000 -47,000,000 -156,000,000 -581,000,000 -323,000,000 -168,000,000 -55,000,000 -93,000,000          
          income from discontinued operations
        		                               
          adjustments to reconcile net income to net cash provided (used) by operating activities:
        		                               
          proceeds from recoveries and reinsurance
        		            622,000,000 191,000,000 42,000,000 32,000,000 17,000,000 15,000,000 10,000,000 60,000,000 16,000,000 44,000,000          
          accrued expenses
        		            -36,000,000 -1,000,000   -33,000,000 9,000,000 -19,000,000 -11,000,000 -18,000,000 -28,000,000          
          insured derivative commutations and losses paid
        		                    -19,000,000 -31,000,000          
          deconsolidation of variable interest entities
        		                               
          other financing
        		                               
          net investment losses related to other-than-temporary impairments
        		                   28,000,000 1,000,000           
          unrealized losses on insured derivatives
        		                   -14,000,000 -14,000,000 22,000,000 -2,270,103,000 3,577,103,000        
          interest on variable interest entities
        		                    5,000,000 10,000,000          
          operating and employee related expenses paid
        		              -22,000,000 -11,000,000 -32,000,000 -15,000,000 -34,000,000 -34,000,000 -38,000,000 -53,000,000          
          collateral (to) from counterparties
        		                  -44,000,000             
          proceeds from the mbia corp. financing facility
        		                     328,000,000          
          supplementary disclosure of consolidated cash flow information
        		                               
          non-cash consideration received from the sale of mbia uk insurance limited
        		                     332,000,000          
          collateral (to) from swap counterparty
        		                               
          adjustments to reconcile net income to net cash used by operating activities:
        		                               
          amortization of bond (premiums) discounts
        		                               
          decrease in accrued investment income
        		                               
          decrease in premiums receivable
        		                               
          decrease in deferred acquisition costs
        		                               
          decrease in unearned premium revenue
        		                               
          decrease in prepaid reinsurance premiums
        		                      -2,598,000 6,598,000 10,831,000 15,257,000 12,241,000 8,904,000 13,006,000   
          decrease in reinsurance premiums payable
        		                               
          decrease in loss and loss adjustment expense reserves
        		                               
          increase in reinsurance recoverable on paid and unpaid losses
        		                               
          increase in insurance loss recoverable
        		                               
          increase in payable to reinsurers on recoveries
        		                               
          depreciation
        		                      1,455,000 2,545,000 2,574,000 2,504,000 2,675,000 3,487,000 3,161,000 2,961,000 3,592,000 
          increase in accrued interest payable
        		                       6,827,000 11,827,000 53,091,000      
          decrease in accounts receivable
        		                               
          decrease in accrued expenses
        		                      7,523,000 -18,523,000 39,798,000 -57,526,000 20,117,000     
          decrease in deferred fee revenue
        		                               
          amortization of medium-term notes (premiums) discounts
        		                               
          realized losses and other settlements on insured derivatives
        		                               
          increase in current income taxes
        		                               
          deferred income tax benefit
        		                      513,863,000 -1,290,863,000  -6,475,000      
          gains on extinguishment of debt
        		                               
          share-based compensation
        		                      7,205,000 -1,205,000        
          purchase of fixed-maturity securities
        		                      1,896,192,000 -5,447,192,000 -9,832,815,000 -7,088,736,000      
          sale and redemption of fixed-maturity securities
        		                               
          decrease in loans receivable
        		                               
          purchase of held-to-maturity investments
        		                       -760,844,000 -658,695,000 -8,449,000 -406,518,000 -32,818,000 -20,620,000   
          redemptions of held-to-maturity investments
        		                      -1,518,553,000 1,623,553,000 154,332,000 181,651,000 -128,853,000 771,499,000 501,377,000   
          sale of short-term investments
        		                              45,316,000 
          sale of other investments
        		                              5,970,000 
          (deconsolidation) consolidation of variable interest entities
        		                               
          proceeds from issuance of investment agreements
        		                      -793,884,000 851,884,000 2,861,202,000 1,396,515,000 1,057,758,000 1,911,052,000 1,320,635,000 2,283,825,000  
          payments for drawdowns of investment agreements
        		                      726,120,000 -1,154,120,000 -1,788,710,000 -1,593,319,000 -1,104,894,000 -1,325,474,000 -976,371,000 -1,423,257,000  
          issuance of medium-term notes
        		                      -1,946,287,000 1,959,287,000 2,371,166,000 2,102,114,000 1,768,870,000 1,268,526,000 610,196,000 1,325,123,000  
          principal paydown of medium-term notes
        		                      3,507,118,000 -3,614,118,000 -677,557,000 -844,220,000 -608,373,000 -969,722,000 -567,206,000 -1,596,853,000  
          principal paydown of variable interest entity notes
        		                               
          securities sold under agreements to repurchase
        		                      60,744,000 -144,744,000 -125,108,000 479,777,000 249,106,000 -523,171,000 384,982,000 42,691,000 179,606,000 
          repayments for retirement of debt
        		                               
          purchase of treasury stock
        		                        -325,819,000 -348,919,000 -13,791,000 -3,259,000 -11,209,000 -6,305,000 -46,302,000 
          contribution from noncontrolling interest and redemption of subsidiary preferred stock
        		                               
          restricted stock awards settlements
        		                               
          collateral from swap counterparty
        		                       326,890,000        
          supplemental cash flow disclosures:
        		                               
          income taxes refunded
        		                               
          interest paid:
        		                               
          investment agreements
        		                      -151,830,000 187,830,000 159,554,000 144,877,000 128,225,000 134,608,000 107,897,000 100,709,000  
          medium-term notes
        		                      -114,276,000 146,276,000 157,209,000 141,992,000 98,861,000 92,931,000 95,331,000 75,600,000  
          variable interest entity notes
        		                               
          other borrowings and deposits
        		                      1,104,000 896,000 302,000 1,389,000  523,000 -1,478,000 -4,050,000  
          corporate debt
        		                               
          surplus notes
        		                               
          non cash items:
        		                               
          adjustments to reconcile net income to net cash from operating activities:
        		                               
          amortization of bond discounts (premiums)
        		                       -18,134,000        
          decrease (increase) in accrued investment income
        		                       13,853,000        
          decrease (increase) in deferred acquisition costs
        		                       30,504,000        
          decrease in deferred premium revenue
        		                       -61,930,000 -4,844,000 -28,342,000      
          increase in loss and loss adjustment expense reserves
        		                       195,955,000  -3,264,000   8,850,000 10,079,000 3,625,000 
          increase in reinsurance recoverable on unpaid losses
        		                       -25,742,000 -453,000 -684,000   -359,000 -13,288,000  
          decrease (increase) in salvage and subrogation
        		                       2,920,000        
          decrease in penalties and disgorgement accrual
        		                        0 -75,000,000      
          amortization of medium-term notes and commercial paper (premiums) discounts
        		                       -12,518,000        
          net realized gains on sale of investments
        		                       -56,607,000        
          realized losses on other than temporarily impaired investments
        		                       223,616,000        
          net (gains) losses on financial instruments at fair value and foreign exchange
        		                       -76,562,000 7,949,000 16,045,000      
          current income tax provision
        		                       176,346,000 -12,919,000 49,578,000 42,765,000 -14,124,000 66,963,000  66,555,000 
          other, operating
        		                       -10,018,000        
          net cash from operating activities
        		                       257,433,000   -350,472,000 156,507,000 195,507,000  277,970,000 
          increase in payable for investments purchased
        		                       463,557,000 -306,612,000 218,159,000      
          sale of fixed-maturity securities
        		                       5,887,601,000 7,892,622,000 5,196,334,000      
          increase in receivable for investments sold
        		                       -338,234,000 102,522,000 -126,959,000      
          redemption of fixed-maturity securities
        		                       2,790,000 42,197,000 2,186,000      
          (purchase) sale of short-term investments
        		                       -1,896,707,000    -116,192,000 -34,341,000   
          (purchase) sale of other investments
        		                       -552,000     -27,706,000   
          disposals of capital assets
        		                        -13,000 4,188,000 241,000 90,000 283,000 248,000  
          other, investing
        		                        8,247,000 -5,872,000 23,464,000 -19,755,000 -698,000   
          net cash used by investing activities
        		                       -467,538,000    -309,991,000 -903,205,000   
          decrease in commercial paper
        		                       -496,643,000        
          principal paydown of variable interest entity floating rate notes
        		                       -3,321,000 -26,585,000 -41,049,000 -52,563,000 -19,680,000 -34,810,000   
          gross proceeds from issuance of common stock
        		                       1,628,405,000        
          capital issuance costs
        		                       -71,918,000 -665,000 -1,884,000 -526,000 -502,000 -699,000 -715,000  
          net proceeds from issuance of warrants
        		                       21,467,000        
          net proceeds from issuance of long-term debt
        		                       982,263,000        
          repayment for retirement of short-term debt
        		                       -6,225,000        
          payments for derivatives
        		                        -3,631,000 -653,000      
          exercise of stock options
        		                       3,043,000 19,113,000 28,683,000 11,492,000 2,825,000 7,926,000 5,117,000 2,114,000 
          excess tax benefit on share-based payment
        		                       -2,499,000 530,000 6,901,000 645,000 60,000 476,000   
          other, financing
        		                       -351,000 -437,000 -1,030,000      
          net cash from financing activities
        		                       236,660,000    152,050,000 697,588,000   
          income taxes (refunded) paid
        		                       -172,414,000        
          commercial paper
        		                       11,211,000 9,469,000 9,799,000 10,658,000 10,912,000 9,396,000 15,158,000  
          variable interest entity floating rate notes
        		                       16,934,000 18,011,000 17,892,000 14,565,000 13,257,000 12,055,000 8,046,000  
          long-term debt
        		                       13,015,000 26,088,000 13,034,000 13,133,000 26,173,000 13,112,000 32,386,000 15,931,000 
          dividends declared but not paid
        		                        -1,609,000 45,167,000 25,000 3,000 41,760,000 4,000  
          cash flows from operating activities of continuing operations:
        		                               
          income from discontinued operations, net of tax
        		                               
          adjustments to reconcile net income from continuing operations to net cash from operating activities of continuing operations:
        		                               
          amortization of bond discount (premium)
        		                        2,036,000 4,690,000      
          increase in accrued investment income
        		                        -9,942,000 -29,080,000 -50,847,000 -28,178,000 -22,595,000 -17,153,000 -1,780,000 
          increase in deferred acquisition costs
        		                        -3,837,000 -6,549,000 -3,628,000 -4,178,000 -2,731,000 3,899,000 -1,579,000 
          amortization of medium-term notes and commercial paper—(premium) discount
        		                        -4,413,000 -5,011,000      
          net realized (gains) losses on sale of investments
        		                        -15,518,000 -12,055,000   858,000 3,111,000  
          net cash from operating activities of continuing operations
        		                        264,099,000 142,129,000    159,811,000  
          cash flows from investing activities of continuing operations:
        		                               
          net sale (purchase) of short-term investments
        		                               
          net (purchase) sale of other investments
        		                               
          net cash used by investing activities of continuing operations
        		                        -2,294,273,000 -1,284,130,000    -314,700,000  
          cash flows from financing activities of continuing operations:
        		                               
          net repayment of short-term debt
        		                               
          net cash from financing activities of continuing operations
        		                        2,212,852,000 1,108,378,000      
          discontinued operations:
        		                               
          net cash from investing activities
        		                               
          net cash used by financing activities
        		                               
          net cash used by discontinued operations
        		                               
          income taxes paid
        		                        84,985,000 29,999,000 20,651,000 127,915,000 4,458,000 59,017,000 11,993,000 
          stock option compensation
        		                         6,425,000 3,872,000 3,119,000 3,971,000 4,373,000 6,710,000 
          sale (purchase) of short-term investments
        		                         263,618,000      
          sale (purchase) of other investments
        		                         81,265,000      
          increase in commercial paper
        		                         -32,722,000      
          net cash used by operating activities
        		                               
          net cash from discontinued operations
        		                               
          net decrease in cash and cash equivalents
        		                         -33,623,000      
          stock compensation
        		                         6,425,000 3,872,000 3,119,000 3,971,000 4,373,000  
          loss (income) from discontinued operations, net of tax
        		                               
          net income from continuing operations
        		                               
          amortization of bond premium
        		                               
          decrease (increase) in reinsurance recoverable on unpaid losses
        		                          -2,530,000     
          decrease in salvage and subrogation
        		                               
          penalties and disgorgement
        		                             0  
          amortization of medium-term notes and commercial paper premium
        		                          -5,028,000 -3,168,000 -5,673,000   
          net gains on derivative instruments and foreign exchange
        		                          -977,000 -7,712,000 -1,836,000   
          purchase of fixed-maturity securities, net of payable for investments purchased
        		                          -5,183,509,000 -4,880,202,000 -4,935,303,000  -4,542,494,000 
          sale of fixed-maturity securities, net of receivable for investments sold
        		                          3,600,549,000 3,891,270,000 3,526,225,000 4,373,451,000 3,611,042,000 
          redemption of fixed-maturity securities, net of receivable for investments redeemed
        		                          166,391,000 63,376,000 89,145,000 23,941,000 816,966,000 
          purchase of short-term investments
        		                               
          net payments of commercial paper
        		                          -8,623,000     
          issuance of variable interest entity floating rate notes
        		                             478,611,000  
          net repayment of short term debt
        		                               
          discontinued operations
        		                               
          net cash (used) provided by financing activities
        		                               
          net cash provided (used) by discontinued operations
        		                               
          increase in deferred premium revenue
        		                           6,584,000 -68,698,000 -22,859,000 71,695,000 
          amortization of bond discount
        		                           12,737,000 9,752,000  8,094,000 
          purchase of other investments
        		                               
          net proceeds (payments) of commercial paper
        		                            2,687,000   
          gain on sale of discontinued operations, net of tax
        		                               
          decrease (increase) in prepaid reinsurance premiums
        		                             9,679,000  
          amortization of medium-term notes and commercial paper (premium) discount
        		                               
          current income tax benefit
        		                               
          net (gains) losses on derivative instruments and foreign exchange
        		                             3,896,000  
          acquisition of conduits
        		                               
          decrease in commerical paper
        		                               
          net proceeds from issuance of short-term debt
        		                               
          net repayment for retirement of long-term debt
        		                               
          adjustments to reconcile income from continuing operations to net cash from operating activities of continuing operations:
        		                               
          amortization of discount on bonds
        		                               
          amortization of premium on medium-term notes and commercial paper
        		                               
          purchases of fixed-maturity securities, net of payable for investments purchased
        		                               
          purchases for investment agreement and medium-term note portfolios, net of payable for investments purchased
        		                               
          sales for investment agreement and medium-term note portfolios, net of receivable for investments sold
        		                               
          purchases of held-to-maturity investments
        		                               
          proceeds from principal paydown of held-to-maturity investments
        		                               
          net cash provided (used) by financing activities of continuing operations
        		                               
          increase in prepaid reinsurance premiums
        		                              -8,847,000 
          decrease in reinsurance recoverable on unpaid losses
        		                               
          net losses on derivative instruments and foreign exchange
        		                               
          purchase of conduit investments
        		                               
          redemptions of conduit investments
        		                               
          disposal of capital assets
        		                               
          net proceeds from issuance of conduit debt obligations
        		                               
          net repayment for retirement of conduit debt obligations
        		                               
          other borrowings
        		                               
          proceeds from issuance of investment agreement and medium-term note obligations
        		                               
          payments for drawdowns of investment agreement and medium-term note obligations
        		                               
          investment agreements and medium-term notes
        		                               
          net realized losses on sale of investments
        		                              -30,157,000 
          fair value of derivative instruments
        		                              -60,209,000 
          cumulative effect of accounting changes
        		                               
          purchases for investment and repurchase agreement and medium-term note portfolios, net of payable for investments purchased
        		                              -2,428,266,000 
          sales for investment and repurchase agreement and medium-term note portfolios, net of receivable for investments sold
        		                              2,333,258,000 
          net cash (used) provided by investing activities
        		                              -159,681,000 
          net repayment from retirement of short-term debt
        		                               
          proceeds from issuance of investment and repurchase agreement and medium-term note obligations
        		                              822,493,000 
          payments for drawdowns of investment and repurchase agreement and medium-term note obligations
        		                              -846,654,000 
          investment and repurchase agreements and medium-term notes
        		                              60,533,000