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Investments - Available for Sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2025 | Dec. 31, 2024
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Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Less: loaned securities |  | $ 154,891 |  | $ 139,121 |
Total fixed-maturities, available for sale, Amortized Cost |  | 5,479,486 |  | 5,511,501 |
Total fixed-maturities available for sale, Fair Value |  | 5,112,192 |  | 5,074,920 |
Total fixed-maturities available for sale |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 5,616,718 |  | 5,648,583 |
Total fixed-maturities, available for sale, Amortized Cost |  | 5,479,486 |  | 5,511,501 | [1]
Gross Unrealized Gains |  | 23,898 |  | 16,565 |
Gross Unrealized Losses | [2] | (397,486) |  | (460,376) |
Fair Value |  | 5,243,130 |  | 5,204,772 |
Total fixed-maturities available for sale, Fair Value |  | 5,112,192 |  | 5,074,920 | [1]
U.S. government and agency securities |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 171,718 |  | 160,509 |
Gross Unrealized Gains |  | 8 |  | 0 |
Gross Unrealized Losses |  | (28,490) |  | (32,177) |
Fair Value |  | 143,236 |  | 128,332 |
State and municipal obligations |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 157,430 |  | 167,114 |
Gross Unrealized Gains |  | 269 |  | 40 |
Gross Unrealized Losses |  | (15,821) |  | (18,263) |
Fair Value |  | 141,878 |  | 148,891 |
Corporate bonds and notes |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 2,829,292 |  | 2,878,705 |
Gross Unrealized Gains |  | 10,268 |  | 5,261 |
Gross Unrealized Losses |  | (245,503) |  | (277,535) |
Fair Value |  | 2,594,057 |  | 2,606,431 |
RMBS |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 1,080,716 |  | 1,104,721 |
Gross Unrealized Gains |  | 8,457 |  | 6,965 |
Gross Unrealized Losses |  | (82,848) |  | (100,056) |
Fair Value |  | 1,006,325 |  | 1,011,630 |
CMBS |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 415,327 |  | 438,139 |
Gross Unrealized Gains |  | 50 |  | 51 |
Gross Unrealized Losses |  | (20,936) |  | (26,191) |
Fair Value |  | 394,441 |  | 411,999 |
CLO |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 396,203 |  | 411,328 |
Gross Unrealized Gains |  | 273 |  | 983 |
Gross Unrealized Losses |  | (717) |  | (849) |
Fair Value |  | 395,759 |  | 411,462 |
Other ABS |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost |  | 520,648 |  | 442,620 |
Gross Unrealized Gains |  | 2,970 |  | 1,556 |
Gross Unrealized Losses |  | (3,171) |  | (5,305) |
Fair Value |  | 520,447 |  | 438,871 |
Mortgage insurance-linked notes |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Amortized Cost | [3] | 45,384 |  | 45,447 |
Gross Unrealized Gains | [3] | 1,603 |  | 1,709 |
Gross Unrealized Losses | [3] | 0 |  | 0 |
Fair Value | [3] | 46,987 |  | 47,156 |
Loaned securities, amortized cost | Total fixed-maturities available for sale |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Less: loaned securities |  | 137,232 | [1] | 137,082 |
Loaned securities, fair value | Total fixed-maturities available for sale |  |  |  |  |
Debt Securities, Available-for-sale [Line Items] |  |  |  |  |
Less: loaned securities |  | $ 130,938 | [1] | $ 129,852 |
[1] | Included in other assets on our condensed consolidated balance sheets. See “Loaned Securities” below for a discussion of our securities lending agreements.
[2] | See “Gross Unrealized Losses and Related Fair Value of Available for Sale Securities” below for additional details.
[3] | Includes mortgage insurance-linked notes purchased by Radian Group in connection with the XOL Program. See Note 8 for more information.

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