v3.26.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Premiums, fees and reimbursements received $ 2 $ 3
Investment income received 11 13
Financial guarantee losses and loss adjustment expenses paid (21) (21)
Proceeds from recoveries and reinsurance, net of salvage paid to reinsurers 5 3
Operating expenses paid and other operating (21) (32)
Interest paid, net of interest converted to principal (8) (9)
Cash (used) by discontinued operations (1) 0
Net cash provided (used) by operating activities (33) (43)
Cash flows from investing activities:    
Purchases of available-for-sale investments (83) (137)
Sales of available-for-sale investments 0 62
Paydowns, maturities and other proceeds of available-for-sale investments 68 29
Purchases of investments at fair value (15) (11)
Sales, paydowns, maturities and other proceeds of investments at fair value 16 22
Sales, paydowns and maturities (purchases) of short-term investments, net 48 66
Other investing 1 1
Proceeds from discontinued operations 2 0
Net cash provided (used) by investing activities 37 32
Cash flows from financing activities:    
Principal paydowns of variable interest entity debt (2) (6)
Purchases of treasury stock (1) (7)
Net cash provided (used) by financing activities (3) (13)
Net increase (decrease) in cash and cash equivalents 1 (24)
Cash and cash equivalents - beginning of period 71 87
Cash and cash equivalents - end of period 72 63
Reconciliation of net income (loss) to net cash provided (used) by operating activities:    
Net income (loss) (42) (62)
Income (loss) from discontinued operations, net of income taxes (1) 0
Income (loss) from continuing operations (41) (62)
Change in:    
Unearned premium revenue (6) (7)
Loss and loss adjustment expense reserves (17) (5)
Insurance loss recoverable (4) (6)
Accrued interest payable 40 42
Other assets and liabilities (9) (19)
Net realized investment (gains) losses 0 5
Net (gains) losses on financial instruments at fair value and foreign exchange 0 15
Other net realized (gains) losses 1 (7)
Other operating 3 1
Total adjustments to income (loss) from continuing operations 8 19
Net cash provided (used) by operating activities (33) (43)
Non-cash financing activities:    
Variable interest entity debt extinguishment $ 0 $ 7