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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Reconciliation of Revenue from Segment to Consolidated | The table below presents details on our Mortgage Insurance segment’s operating results, including a disaggregation of significant segment expenses as monitored by Radian’s chief operating decision maker.
Mortgage Insurance segment operating results |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
($ in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Total revenues |  | $ | 301,901 |  |  | $ | 306,659 |  |  | $ | 895,437 |  |  | $ | 911,227 |
Less: expenses |  |  |  |  |  |  |  |  |  |  |  |
Provision for losses |  |  | 17,886 |  |  |  | 6,346 |  |  |  | 45,180 |  |  |  | (2,309 | )
Policy acquisition costs |  |  | 7,166 |  |  |  | 6,724 |  |  |  | 20,759 |  |  |  | 20,040 |
Other operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Salaries and share-based employee expenses |  |  | 40,357 |  |  |  | 36,937 |  |  |  | 136,004 |  |  |  | 126,530 |
Other non-personnel operating expenses |  |  | 18,108 |  |  |  | 19,768 |  |  |  | 57,603 |  |  |  | 58,795 |
Depreciation expense |  |  | 2,664 |  |  |  | 3,872 |  |  |  | 8,021 |  |  |  | 11,960 |
Ceding Commissions |  |  | (7,556 | ) |  |  | (6,276 | ) |  |  | (21,353 | ) |  |  | (17,877 | )
Total other operating expenses |  |  | 53,573 |  |  |  | 54,301 |  |  |  | 180,275 |  |  |  | 179,408 |
Interest expense |  |  | 17,184 |  |  |  | 21,892 |  |  |  | 51,101 |  |  |  | 67,182 |
Adjusted pretax operating income |  | $ | 206,092 |  |  | $ | 217,396 |  |  | $ | 598,122 |  |  | $ | 646,906 |
Key segment ratios |  |  |  |  |  |  |  |  |  |  |  |
Loss Ratio (1) |  |  | 7.5 | % |  |  | 2.7 | % |  |  | 6.4 | % |  |  | (0.3 | )%
Expense Ratio (2) |  |  | 25.6 | % |  |  | 26.0 | % |  |  | 28.5 | % |  |  | 28.3 | %
(1) Calculated as provision for losses expressed as a percentage of net premiums earned. (2) Calculated as operating expenses (which consist of policy acquisition costs and other operating expenses) expressed as a percentage of net premiums earned.
Schedule of Reconciliation of Adjusted Pretax Operating Income to Pretax Income | The reconciliation of adjusted pretax operating income to pretax income from continuing operations is as follows.
Reconciliation of adjusted pretax operating income to pretax income from continuing operations |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Adjusted pretax operating income |  | $ | 206,092 |  |  | $ | 217,396 |  |  | $ | 598,122 |  |  | $ | 646,906 |
Reconciling items |  |  |  |  |  |  |  |  |  |  |  |
Net gains (losses) on investments and other financial instruments |  |  | 1,285 |  |  |  | 6,721 |  |  |  | 1,135 |  |  |  | 2,403 |
Impairment of other long-lived assets and other non-operating items (1) |  |  | (8,683 | ) |  |  | (9,811 | ) |  |  | (9,067 | ) |  |  | (14,086 | )
Pretax income from continuing operations |  | $ | 198,694 |  |  | $ | 214,306 |  |  | $ | 590,190 |  |  | $ | 635,223 |
(1) For the three and nine months ended September 30, 2025, primarily relates to acquisition-related expenses. For the three and nine months ended September 30, 2024, primarily relates to impairment of internal-use software.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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