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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Investments:    
Assets held for sale $ 71 $ 73
Total assets 2,304 2,606
Liabilities:    
Liabilities held for sale 64 64
Total liabilities 4,289 4,253
Commitments and contingencies (Refer to Note 12: Commitments and Contingencies)
Equity:    
Preferred stock, par value $1 per share; authorized shares—10,000,000; issued and outstanding—none 0 0
Common stock, par value $1 per share; authorized shares--400,000,000; issued shares--283,186,115 and 283,186,115 283 283
Additional paid-in capital 2,483 2,515
Retained earnings (deficit) (1,484) (1,144)
Accumulated other comprehensive income (loss), net of tax of $7 and $7 (137) (139)
Treasury stock, at cost--232,158,415 and 232,323,184 shares (3,139) (3,172)
Total shareholders' equity of MBIA Inc. (1,994) (1,657)
Preferred stock of subsidiary and noncontrolling interest held for sale 9 10
Total equity (1,985) (1,647)
Total liabilities and equity 2,304 2,606
Non Variable Interest Entity [Member]    
Investments:    
Fixed-maturity securities held as available-for-sale, at fair value (amortized cost $1,125 and $1,175) 969 1,043
Investments carried at fair value 214 337
Short-term investments, at fair value (amortized cost $451 and $548) 451 548
Other investments at amortized cost 2 3
Total investments 1,636 1,931
Cash and cash equivalents 195 104
Premiums receivable (net of allowance for credit losses $- and $-) 141 146
Deferred acquisition costs 29 31
Insurance loss recoverable 142 183
Assets held for sale 71 73
Other assets 57 76
Liabilities:    
Unearned premium revenue 216 232
Loss and loss adjustment expense reserves 577 473
Long-term debt 2,663 2,585
Medium-term notes (includes financial instruments carried at fair value of $36 and $40) 432 497
Investment agreements 221 221
Liabilities held for sale 64 64
Other liabilities 70 86
Variable Interest Entity, Primary Beneficiary [Member]    
Investments:    
Investments carried at fair value 0 22
Other assets 0 2
Cash 2 3
Loans receivable at fair value 31 35
Liabilities:    
Variable interest entity debt (includes financial instruments carried at fair value of $31 and $78) 37 81
Derivative liabilities $ 9 $ 14