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Statutory Information (Tables) | 12 Months Ended
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Dec. 31, 2024
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) |  | 2024 |  | 2023 |  | 2022
Statutory net income |  | $ | 1,112,477 |  |  | $ | 279,145 |  |  | $ | 440,944 |
Statutory policyholders' surplus |  | 976,756 |  |  | 639,878 |  |  | 924,977 |
Contingency reserve |  | 4,897,284 |  |  | 5,199,405 |  |  | 4,669,724 |
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) |  | 2024 |  | 2023 |  | 2022
Dividends paid by MGIC to the holding company (1) |  | $ | 750,000 |  |  | 600,000 |  |  | 800,000 |
(1) Dividends paid in cash and/or investment securities

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(23)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477908/944-505-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477908/944-505-50-6 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478420/944-505-55-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478420/944-505-55-1 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477908/944-505-50-3 + Details
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