XML 45 R35.htm IDEA: XBRL DOCUMENT v3.25.1

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Information

The following table reconciles the components of reportable segment profit and loss to consolidated profit and loss for the periods presented. Within the tables, we have disclosed significant segment expenses at a level of disaggregation that coincides with what is regularly provided to the CODM. Other underwriting and operating expenses in the Mortgage Insurance segment include software, professional fees, travel, and occupancy costs. The accounting policies of our operating segments are the same as those described in the summary of significant accounting policies in our Form 10-K. We do not have inter-segment transactions.

						Three Months Ended March 31, 2025																		Three Months Ended March 31, 2024
(In thousands)						Mortgage Insurance						Corporate & Other						Consolidated						Mortgage Insurance						Corporate & Other						Consolidated
Revenues:
Net premiums earned						$	233,630					$	12,218					$	245,848					$	230,306					$	15,284					$	245,590
Net investment income						47,630						10,580						58,210						44,201						7,884						52,085
Realized investment losses, net						(101)						(80)						(181)						(1,140)						—						(1,140)
Income (loss) from other invested assets						3,209						4,199						7,408						(519)						(1,396)						(1,915)
Other income						4,501						1,772						6,273						1,900						1,837						3,737
Total revenues						288,869						28,689						317,558						274,748						23,609						298,357
Losses and expenses:
Provision (benefit) for losses and LAE						30,722						565						31,287						9,337						576						9,913
Compensation and benefits						19,890						19,802						39,692						18,707						16,002						34,709
Premium and other taxes						5,574						1,329						6,903						5,608						126						5,734
Ceding commission						(6,508)						—						(6,508)						(5,553)						—						(5,553)
Other underwriting and operating expenses						11,637						19,400						31,037						11,465						20,485						31,950
Net operating expenses before allocations						30,593						40,531						71,124						30,227						36,613						66,840
Corporate expense allocations						13,014						(13,014)						—						11,618						(11,618)						—
Operating expenses after allocations						43,607						27,517						71,124						41,845						24,995						66,840
Interest expense						—						8,148						8,148						—						7,862						7,862
Income (loss) before income taxes						$	214,540					$	(7,541)					$	206,999					$	223,566					$	(9,824)					$	213,742
Loss ratio (1)						13.1		%																4.1		%
Expense ratio (2)						18.7		%																18.2		%
Combined ratio						31.8		%																22.3		%
(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.

X

- 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration