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Losses and LAE (Tables)

9 Months Ended

Sep. 30, 2025

Insurance Loss Reserves [Abstract]

Schedule of Reserve for Losses and LAE by Segment

Our reserve for losses and LAE consists of the following as of the dates indicated.

Reserve for losses and LAE
(In thousands)		September 30, 2025				December 31, 2024
Primary case		$	366,893			$	336,553
Primary IBNR and LAE			15,081				13,399
Pool and other			5,676				4,479
Total reserve for losses and LAE		$	387,650			$	354,431

Schedule of Reserve for Losses and LAE Rollforward

For the periods indicated, the following table presents information relating to our mortgage insurance reserve for losses, including our IBNR reserve and LAE.

Rollforward of reserve for losses
		Nine Months Ended September 30,
(In thousands)		2025				2024
Balance at beginning of period		$	354,431			$	364,923
Less: Reinsurance recoverables (1)			34,144				25,074
Balance at beginning of period, net of reinsurance recoverables			320,287				339,849
Add: Losses and LAE incurred in respect of default notices reported and unreported in:
Current year (2)			159,968				151,497
Prior years			(114,788	)			(153,806	)
Total incurred			45,180				(2,309	)
Deduct: Paid claims and LAE related to:
Current year (2)			666				359
Prior years			20,558				11,937
Total paid			21,224				12,296
Balance at end of period, net of reinsurance recoverables			344,243				325,244
Add: Reinsurance recoverables (1)			43,407				31,710
Balance at end of period		$	387,650			$	356,954

(1)Related to ceded losses recoverable, if any, on reinsurance transactions. See Note 8 for additional information.

(2)Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default.

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- Definition

Schedule of Liability for Unpaid Claims and Claim Adjustment Expenses, by Segment [Table Text Block]

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- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-3

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