XML 71 R14.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Note 7 - Reinsurance | 3 Months Ended
--- | ---
Mar. 31, 2015
Reinsurance Disclosures [Abstract] |
Reinsurance | Reinsurance The effect of reinsurance on net premiums written and earned is as follows:
| Three Months Ended March 31,
(In thousands) | 2015 |  | 2014
Net premiums written-insurance: |  |  |
Direct | $ | 255,248 |  |  | $ | 229,322 |
Assumed | 47 |  |  | 473 |
Ceded | (13,387 | ) |  | (16,089 | )
Net premiums written-insurance | $ | 241,908 |  |  | $ | 213,706 |
Net premiums earned-insurance: |  |  |
Direct | $ | 242,164 |  |  | $ | 215,876 |
Assumed | 13 |  |  | 12 |
Ceded | (17,582 | ) |  | (17,126 | )
Net premiums earned-insurance | $ | 224,595 |  |  | $ | 198,762 |
In 2012, Radian Guaranty entered into two separate QSR agreements with a third-party reinsurance provider. As of March 31, 2015, RIF ceded under the Initial QSR Transaction and the Second QSR Transaction was $1.1 billion and $1.5 billion, respectively. The following tables show the amounts related to the QSR Reinsurance Transactions for the periods indicated:
| Initial QSR Transaction
| Three Months Ended March 31,
(In thousands) | 2015 |  | 2014
Ceded premiums written | $ | 4,067 |  |  | $ | 5,304 |
Ceded premiums earned | 6,018 |  |  | 6,807 |
Ceding commissions written | 880 |  |  | 1,326 |
| Second QSR Transaction
| Three Months Ended March 31,
(In thousands) | 2015 |  | 2014
Ceded premiums written | $ | 6,529 |  |  | $ | 7,293 |
Ceded premiums earned | 8,768 |  |  | 6,585 |
Ceding commissions written | 2,285 |  |  | 2,553 |
Radian Guaranty has ceded the maximum amount permitted under the QSR Reinsurance Transactions (up to $1.6 billion of ceded RIF for each); therefore, Radian Guaranty is no longer ceding NIW under these transactions. Effective January 1, 2015, the ceding commission was reduced from 25% to 20% for two-thirds of the reinsurance ceded under the Initial QSR Transaction. Ceded losses to date under the QSR Reinsurance Transactions have been immaterial.

X
- Details
Name: | us-gaap_ReinsuranceDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 310 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6485557&loc=d3e21549-158491 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27374-158547 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6811-158387 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6816-158387 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 6 -Article 7 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.6,13) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=34714010&loc=d3e27795-158548 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=34714010&loc=d3e27703-158548 + Details
Name: | us-gaap_ReinsuranceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration