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Statutory Information
 9 Months Ended
Sep. 30, 2015
Insurance [Abstract]  
Statutory Information
Statutory Information
NMIC and Re One's combined statutory net loss, statutory surplus, contingency reserve and risk-to-capital (RTC) ratios were as follows:
As of and for the nine months and year ended September 30, 2015 and December 31, 2014, respectively
September 30, 2015
 
December 31, 2014
 
(In Thousands)
Statutory net loss
$
(38,591
)
 
$
(47,961
)
Statutory surplus
201,140

 
236,738

Contingency reserve
23,714

 
9,401

Risk-to-Capital
11.8:1

 
3.6:1


NMIH is not subject to any limitations on its ability to pay dividends except those generally applicable to corporations that are incorporated in Delaware, such as NMIH. Delaware corporation law provides that dividends are only payable out of a corporation's capital surplus or recent net profits (subject to certain limitations). Since inception, NMIC has not paid any dividends to NMIH. As NMIC had a statutory net loss for the year ended December 31, 2014, NMIC cannot pay any dividends to NMIH through December 31, 2015, without the prior approval of the Wisconsin OCI. Additionally, NMIC will not be permitted to pay dividends to NMIH until after December 31, 2015 as a condition of GSE Approval or until January 2016 under agreements with various state insurance regulators.