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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Information |
|  | Year Ended December 31, 2024
(In thousands) |  | Mortgage Insurance |  | Corporate & Other |  | Consolidated
Revenues: |  |  |  |  |  |
Net premiums earned |  | $ | 924,676 |  |  | $ | 66,206 |  |  | $ | 990,882 |
Net investment income |  | 183,341 |  |  | 38,729 |  |  | 222,070 |
Realized investment (losses) gains, net |  | (2,343) |  |  | (7) |  |  | (2,350) |
Income (loss) from other invested assets |  | 7,171 |  |  | 204 |  |  | 7,375 |
Other income |  | 14,152 |  |  | 10,775 |  |  | 24,927 |
Total revenues |  | 1,126,997 |  |  | 115,907 |  |  | 1,242,904 |
Losses and expenses: |  |  |  |  |  |
Provision (benefit) for losses and LAE |  | 75,182 |  |  | 6,038 |  |  | 81,220 |
Compensation and benefits |  | 72,156 |  |  | 64,236 |  |  | 136,392 |
Premium and other taxes |  | 23,007 |  |  | 1,497 |  |  | 24,504 |
Ceding commission |  | (24,248) |  |  | — |  |  | (24,248) |
Other underwriting and operating expenses |  | 44,829 |  |  | 89,397 |  |  | 134,226 |
Net operating expenses before allocations |  | 115,744 |  |  | 155,130 |  |  | 270,874 |
Corporate expense allocations |  | 43,787 |  |  | (43,787) |  |  | — |
Operating expenses after allocations |  | 159,531 |  |  | 111,343 |  |  | 270,874 |
Interest expense |  | — |  |  | 35,319 |  |  | 35,319 |
Income (loss) before income taxes |  | $ | 892,284 |  |  | $ | (36,793) |  |  | $ | 855,491 |
Loss ratio (1) |  | 8.1 | % |  |  |  |
Expense ratio (2) |  | 17.3 | % |  |  |  |
Combined ratio |  | 25.4 | % |  |  |  |
(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned. |  |  |  |  |  |
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. |  |  |  |  |  |
|  | Year Ended December 31, 2023
(In thousands) |  | Mortgage Insurance |  | Corporate & Other |  | Consolidated
Revenues: |  |  |  |  |  |
Net premiums earned |  | $ | 878,937 |  |  | $ | 37,969 |  |  | $ | 916,906 |
Net investment income |  | 159,868 |  |  | 26,271 |  |  | 186,139 |
Realized investment (losses) gains, net |  | (6,392) |  |  | (812) |  |  | (7,204) |
Income (loss) from other invested assets |  | (490) |  |  | (10,628) |  |  | (11,118) |
Other income |  | 20,692 |  |  | 4,344 |  |  | 25,036 |
Total revenues |  | 1,052,615 |  |  | 57,144 |  |  | 1,109,759 |
Losses and expenses: |  |  |  |  |  |
Provision (benefit) for losses and LAE |  | 30,120 |  |  | 1,422 |  |  | 31,542 |
Compensation and benefits |  | 68,996 |  |  | 45,902 |  |  | 114,898 |
Premium and other taxes |  | 22,544 |  |  | (376) |  |  | 22,168 |
Ceding commission |  | (21,326) |  |  | — |  |  | (21,326) |
Other underwriting and operating expenses |  | 44,968 |  |  | 64,373 |  |  | 109,341 |
Net operating expenses before allocations |  | 115,182 |  |  | 109,899 |  |  | 225,081 |
Corporate expense allocations |  | 47,274 |  |  | (47,274) |  |  | — |
Operating expenses after allocations |  | 162,456 |  |  | 62,625 |  |  | 225,081 |
Interest expense |  | — |  |  | 30,137 |  |  | 30,137 |
Income (loss) before income taxes |  | $ | 860,039 |  |  | $ | (37,040) |  |  | $ | 822,999 |
Loss ratio (1) |  | 3.4 | % |  |  |  |
Expense ratio (2) |  | 18.5 | % |  |  |  |
Combined ratio |  | 21.9 | % |  |  |  |
(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned. |  |  |  |  |  |
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. |  |  |  |  |  |
|  | Year Ended December 31, 2022
Summary of Profit & Loss (In thousands) |  | Mortgage Insurance |  | Corporate & Other |  | Consolidated
Revenues: |  |  |  |  |  |
Net premiums earned |  | $ | 842,527 |  |  | $ | — |  |  | $ | 842,527 |
Net investment income |  | 112,285 |  |  | 12,124 |  |  | 124,409 |
Realized investment (losses) gains, net |  | (1,829) |  |  | (11,343) |  |  | (13,172) |
Income (loss) from other invested assets |  | 33,142 |  |  | (4,466) |  |  | 28,676 |
Other income |  | 18,384 |  |  | — |  |  | 18,384 |
Total revenues |  | 1,004,509 |  |  | (3,685) |  |  | 1,000,824 |
Losses and expenses: |  |  |  |  |  |
Provision (benefit) for losses and LAE |  | (174,704) |  |  | — |  |  | (174,704) |
Compensation and benefits |  | 66,410 |  |  | 33,892 |  |  | 100,302 |
Premium and other taxes |  | 20,977 |  |  | — |  |  | 20,977 |
Ceding commission |  | (17,516) |  |  | — |  |  | (17,516) |
Other underwriting and operating expenses |  | 41,634 |  |  | 26,336 |  |  | 67,970 |
Net operating expenses before allocations |  | 111,505 |  |  | 60,228 |  |  | 171,733 |
Corporate expense allocations |  | 48,100 |  |  | (48,100) |  |  | — |
Operating expenses after allocations |  | 159,605 |  |  | 12,128 |  |  | 171,733 |
Interest expense |  | — |  |  | 15,608 |  |  | 15,608 |
Income (loss) before income tax expense |  | $ | 1,019,608 |  |  | $ | (31,421) |  |  | $ | 988,187 |
Loss ratio (1) |  | (20.7) | % |  |  |  |
Expense ratio (2) |  | 18.9 | % |  |  |  |
Combined ratio |  | (1.8) | % |  |  |  |
(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned. |  |  |  |  |  |
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. |  |  |  |  |  |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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