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Note 8 - Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2020
Reinsurance Disclosures [Abstract] |
Effects of Reinsurance [Table Text Block] | The effect of all of our reinsurance programs on our net income is as follows.
|  | Year Ended December 31,
(In thousands) |  | 2020 |  | 2019 |  | 2018
Net premiums written: |  |  |  |  |  |
Direct |  | $ | 1,108,513 |  |  | $ | 1,132,338 |  |  | $ | 1,089,720 |
Assumed (1) |  | 12,197 |  |  | 10,379 |  |  | 6,901 |
Ceded (2) |  | (87,201) |  |  | (56,132) |  |  | (98,314) |
Net premiums written |  | $ | 1,033,509 |  |  | $ | 1,086,585 |  |  | $ | 998,307 |
Net premiums earned: |  |  |  |  |  |
Direct |  | $ | 1,286,527 |  |  | $ | 1,244,870 |  | (3) | $ | 1,074,298 |
Assumed (1) |  | 12,213 |  |  | 10,382 |  |  | 6,904 |
Ceded (2) |  | (183,419) |  |  | (109,903) |  | (3) | (67,195) |
Net premiums earned |  | $ | 1,115,321 |  |  | $ | 1,145,349 |  | (3) | $ | 1,014,007 |
Ceding commissions earned (4) |  | $ | 53,654 |  |  | $ | 48,659 |  | (3) | $ | 33,446 |
Ceded losses |  | 58,266 |  |  | 5,859 |  |  | 5,086 |
(1)Includes premiums from our participation in certain credit risk transfer programs. (2)Net of profit commission, which is impacted by the level of ceded losses recoverable, if any, on reinsurance transactions. See Note 11 for additional information on our reserve for losses and reinsurance recoverables. (3)Includes a cumulative adjustment to unearned premiums recorded in the second quarter of 2019 related to an update to the amortization rates used to recognize revenue for Single Premium Policies. See Note 4 for further information. (4)Deferred ceding commissions of $52.5 million and $74.8 million are included in other liabilities on our consolidated balance sheets at December 31, 2020 and 2019, respectively.
Schedule of Single Premium Quota Share Reinsurance Program Details | The following table sets forth additional details regarding the Single Premium QSR Program.
|  | 2020 Singles QSR |  | 2018 Singles QSR |  | 2016 Singles QSR
NIW Policy Dates |  | Jan 1, 2020-Dec 31, 2021 |  | Jan 1, 2018-Dec 31, 2019 |  | Jan 1, 2012-Dec 31, 2017
Effective Date |  | January 1, 2020 |  | January 1, 2018 |  | January 1, 2016
Scheduled Termination Date |  | December 31, 2031 |  | December 31, 2029 |  | December 31, 2027
Optional Termination Date |  | January 1, 2024 |  | January 1, 2022 |  | January 1, 2020
Quota Share % |  | 65% |  | 65% |  | 20% - 65% (1)
Ceding Commission % |  | 25% |  | 25% |  | 25%
Profit Commission % |  | Up to 56% |  | Up to 56% |  | Up to 55%
(In millions) |  | As of December 31, 2020
RIF Ceded |  | $ | 1,597 |  |  | $ | 1,979 |  |  | $ | 3,071 |
(In millions) |  | As of December 31, 2019
RIF Ceded |  | $ | — |  |  | $ | 3,231 |  |  | $ | 5,351 |
(1)Effective December 31, 2017, we amended the 2016 Single Premium QSR Agreement to increase the amount of ceded risk on performing loans under the agreement from 35% to 65% for the 2015 through 2017 vintages. Loans included in the 2012 through 2014 vintages, and any other loans subject to the agreement that were delinquent at the time of the amendment, were unaffected by the change and therefore the amount of ceded risk for those loans continues to range from 20% to 35%.
Schedule of Collateralized Reinsurance Agreements [Table Text Block] | The following table sets forth additional details regarding the Excess-of-Loss Program.
(In millions) |  | Eagle Re 2020-2 Ltd. |  | Eagle Re 2020-1 Ltd. |  | Eagle Re 2019-1 Ltd. |  | Eagle Re 2018-1 Ltd.
Issued |  | October 2020 |  | February 2020 |  | April 2019 |  | November 2018 |
NIW Policy Dates |  | Oct 1, 2019- Jul 31, 2020 |  | Jan 1, 2019- Sep 30, 2019 |  | Jan 1, 2018- Dec 31, 2018 |  | Jan 1, 2017- Dec 31, 2017 |
Initial RIF |  | $ | 13,011 |  |  |  | $ | 9,866 |  |  |  | $ | 10,705 |  |  |  | $ | 9,109 |  |  |
Initial Coverage |  | 390 |  |  |  | 488 |  |  |  | 562 |  |  |  | 434 |  | (1) |
Initial First Layer Retention |  | 423 |  |  |  | 202 |  |  |  | 268 |  |  |  | 205 |  |  |
(In millions) |  | As of December 31, 2020
RIF |  | $ | 11,748 |  |  |  | $ | 6,121 |  |  |  | $ | 4,657 |  |  |  | $ | 3,986 |  |  |
Remaining Coverage |  | 390 |  |  |  | 488 |  |  |  | 385 |  |  |  | 276 |  | (1) |
First Layer Retention |  | 423 |  |  |  | 202 |  |  |  | 265 |  |  |  | 201 |  |  |
(In millions) |  | As of December 31, 2019
RIF |  | $ | — |  |  |  | $ | — |  |  |  | $ | 8,409 |  |  |  | $ | 7,026 |  |  |
Remaining Coverage |  | — |  |  |  | — |  |  |  | 487 |  |  |  | 343 |  | (1) |
First Layer Retention |  | — |  |  |  | — |  |  |  | 267 |  |  |  | 204 |  |  |
(1)Excludes a separate excess-of-loss reinsurance agreement entered into by Radian Guaranty with both initial and remaining coverage of $21.4 million.
Schedule of VIE Assets [Table Text Block] | The following table presents the total assets and liabilities of the Eagle Re Issuers as of the dates indicated.
|  | Total VIE Assets and Liabilities (1)
|  | Year Ended December 31,
(In thousands) |  | 2020 |  | 2019
Eagle Re 2020-2 Ltd. |  | $ | 390,324 |  |  | $ | — |
Eagle Re 2020-1 Ltd. |  | 488,385 |  |  | — |
Eagle Re 2019-1 Ltd. |  | 384,602 |  |  | 508,449 |
Eagle Re 2018-1 Ltd. |  | 275,718 |  |  | 357,005 |
Total |  | $ | 1,539,029 |  |  | $ | 865,454 |
(1)Assets held by the Eagle Re Issuers are required to be invested in U.S. government money market funds, cash or U.S. Treasury securities. Liabilities of Eagle Re Issuers consist of their mortgage insurance-linked notes, as described above.

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