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Statutory Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Statutory Capital [Abstract] |
Summary of amounts disclosed under statutory accounting practices | The statutory net income, policyholders’ surplus, and contingency reserve liability of our insurance subsidiaries, including MGIC, are shown in table 14.1.
Statutory financial information of insurance subsidiaries
Table | 14.1 |  |  |  |  |  |
|  | As of and for the Years Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Statutory net income |  | $ | 440,944 |  |  | $ | 295,811 |  |  | $ | 65,201 |
Statutory policyholders' surplus |  | 924,977 |  |  | 1,220,714 |  |  | 1,339,509 |
Contingency reserve |  | 4,669,724 |  |  | 4,126,604 |  |  | 3,585,864 |
The decrease in statutory policyholders' surplus from December 31, 2021 to December 31, 2022 is primarily due to dividend payments to the parent company (discussed below), offset by statutory net income. For the years ended December 31, 2022, 2021, and 2020 there were no contributions made to MGIC or distributions from other insurance subsidiaries to us. Dividends paid by MGIC are shown in table 14.2 below.
Surplus contributions and dividends of insurance subsidiaries
Table | 14.2 |  |  |  |  |  |
|  | Years Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Dividends paid by MGIC to the parent company (1) |  | $ | 800,000 |  |  | 400,000 |  |  | 390,000 |
(1) Dividends paid in cash and/or investment securities. Also, in 2021 MGIC distributed to the holding company, as a dividend, its investment in MGIC Credit Assurance Corporation at an amount of $8.9 million. In 2020, MGIC distributed to the holding company, as a dividend, its ownership in the 9% Debentures held at an amortized cost of $139.5 million.

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- Definition Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.23(c)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6486098&loc=d3e24708-158529 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=6486098&loc=d3e24790-158529 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=6486098&loc=d3e24746-158529 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=82848697&loc=d3e24959-158530 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=82848697&loc=d3e24938-158530 + Details
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