2023 Q2 Form 10-Q Financial Statement

#000087643723000025 Filed on May 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $290.7M $284.0M $294.6M
YoY Change -0.83% -3.62% -1.12%
Cost Of Revenue -$17.69M $6.446M -$19.31M
YoY Change -82.14% -133.37%
Gross Profit $308.4M $277.5M $313.9M
YoY Change -21.37% -11.6%
Gross Profit Margin 106.09% 97.73% 106.56%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.180M $2.478M $2.740M
YoY Change 207.85% -9.56% 1.63%
% of Gross Profit 2.98% 0.89% 0.87%
Operating Expenses $38.92M $78.99M $38.16M
YoY Change -191.29% 107.0% -57.79%
Operating Profit $269.5M $198.5M $275.8M
YoY Change -38.03% -28.01%
Interest Expense -$9.377M -$9.374M -$14.91M
YoY Change -30.34% -37.14% -17.16%
% of Operating Profit -3.48% -4.72% -5.41%
Other Income/Expense, Net
YoY Change
Pretax Income $242.4M $195.6M $219.4M
YoY Change -23.27% -10.86% 15.73%
Income Tax $51.33M $41.06M $44.43M
% Of Pretax Income 21.18% 20.99% 20.25%
Net Earnings $191.1M $154.5M $175.0M
YoY Change -23.35% -11.69% 16.66%
Net Earnings / Revenue 65.73% 54.42% 59.4%
Basic Earnings Per Share $0.67 $0.53 $0.55
Diluted Earnings Per Share $0.66 $0.53 $0.54
COMMON SHARES
Basic Shares Outstanding 286.6M shares 290.4M shares 316.0M shares
Diluted Shares Outstanding 289.6M shares 294.7M shares 324.5M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $310.7M $358.2M $477.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $39.70M $40.58M $45.18M
YoY Change -11.92% -10.19% -1.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.618B $5.579B $5.952B
YoY Change -1.92% -6.26% -12.86%
Other Assets $116.8M $108.5M $12.78M
YoY Change 37.9% 748.97% 27.84%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $6.353B $6.352B $6.845B
YoY Change -3.73% -7.2% -7.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $663.5M $663.2M $935.3M
YoY Change -27.71% -29.09% -24.82%
Other Long-Term Liabilities $143.1M $169.5M $218.8M
YoY Change -12.63% -22.53% -10.34%
Total Long-Term Liabilities $806.6M $832.7M $1.154B
YoY Change -25.43% -27.85% -22.44%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $806.6M $832.7M $1.154B
Total Liabilities $1.509B $1.575B $2.234B
YoY Change -25.53% -29.53% -16.46%
SHAREHOLDERS EQUITY
Retained Earnings $4.291B $4.129B $3.400B
YoY Change 18.41% 21.45% 19.72%
Common Stock $2.171B $2.163B $2.155B
YoY Change 0.37% 0.37% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.193B $1.119B $793.7M
YoY Change 34.33% 40.99% 106.4%
Treasury Stock Shares 82.99M shares 58.77M shares
Shareholders Equity $4.844B $4.778B $4.610B
YoY Change
Total Liabilities & Shareholders Equity $6.353B $6.352B $6.845B
YoY Change -3.73% -7.2% -7.59%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $191.1M $154.5M $175.0M
YoY Change -23.35% -11.69% 16.66%
Depreciation, Depletion And Amortization $9.180M $2.478M $2.740M
YoY Change 207.85% -9.56% 1.63%
Cash From Operating Activities $144.7M $212.3M $228.0M
YoY Change 8.22% -6.9% 15.14%
INVESTING ACTIVITIES
Capital Expenditures $308.0K $363.0K $888.0K
YoY Change -124.48% -59.12% 101.36%
Acquisitions
YoY Change
Other Investing Activities -$91.54M -$64.82M $350.3M
YoY Change 56.22% -118.5% -227.81%
Cash From Investing Activities -$91.85M -$65.18M $349.4M
YoY Change 53.45% -118.65% -227.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $123.6M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -102.7M -$113.4M -$392.5M
YoY Change -28.93% -71.1% 1330.02%
NET CHANGE
Cash From Operating Activities 144.7M $212.3M $228.0M
Cash From Investing Activities -91.85M -$65.18M $349.4M
Cash From Financing Activities -102.7M -$113.4M -$392.5M
Net Change In Cash -49.85M $33.66M $184.9M
YoY Change -29.43% -81.8% -277.97%
FREE CASH FLOW
Cash From Operating Activities $144.7M $212.3M $228.0M
Capital Expenditures $308.0K $363.0K $888.0K
Free Cash Flow $144.4M $211.9M $227.1M
YoY Change 6.99% -6.69% 14.95%

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CY2023Q1 mtg Increase Decrease In Reinsurance Recoverable On Paid Losses
IncreaseDecreaseInReinsuranceRecoverableOnPaidLosses
17936000 usd
CY2022Q1 mtg Increase Decrease In Reinsurance Recoverable On Paid Losses
IncreaseDecreaseInReinsuranceRecoverableOnPaidLosses
36072000 usd
CY2023Q1 us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
-625000 usd
CY2022Q1 us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
798000 usd
CY2023Q1 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
-965000 usd
CY2022Q1 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
-133000 usd
CY2023Q1 mtg Increase Decrease In Profit Commission Receivable
IncreaseDecreaseInProfitCommissionReceivable
-9324000 usd
CY2022Q1 mtg Increase Decrease In Profit Commission Receivable
IncreaseDecreaseInProfitCommissionReceivable
-6779000 usd
CY2023Q1 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
527000 usd
CY2022Q1 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
-32250000 usd
CY2023Q1 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
-11822000 usd
CY2022Q1 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
-12575000 usd
CY2023Q1 us-gaap Increase Decrease In Other Insurance Liabilities
IncreaseDecreaseInOtherInsuranceLiabilities
-1300000 usd
CY2022Q1 us-gaap Increase Decrease In Other Insurance Liabilities
IncreaseDecreaseInOtherInsuranceLiabilities
-900000 usd
CY2023Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
39481000 usd
CY2022Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
38445000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
23405000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
36389000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
212286000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
228011000 usd
CY2023Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
229198000 usd
CY2022Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
94017000 usd
CY2023Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
32991000 usd
CY2022Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
218373000 usd
CY2023Q1 mtg Proceeds From Maturity Of Fixed Income Securities
ProceedsFromMaturityOfFixedIncomeSecurities
131389000 usd
CY2022Q1 mtg Proceeds From Maturity Of Fixed Income Securities
ProceedsFromMaturityOfFixedIncomeSecurities
225972000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
363000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
888000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-65181000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
349440000 usd
CY2023Q1 us-gaap Early Repayment Of Subordinated Debt
EarlyRepaymentOfSubordinatedDebt
0 usd
CY2022Q1 us-gaap Early Repayment Of Subordinated Debt
EarlyRepaymentOfSubordinatedDebt
56965000 usd
CY2023Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
0 usd
CY2022Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
155000000 usd
CY2023Q1 mtg Gain Loss On Debt Extinghuishment Cash Portion
GainLossOnDebtExtinghuishmentCashPortion
0 usd
CY2022Q1 mtg Gain Loss On Debt Extinghuishment Cash Portion
GainLossOnDebtExtinghuishmentCashPortion
22107000 usd
CY2022Q4 mtg Primary Default Inventory Twelve Months Or More Percent Of Primary Default Inventory In Default For Twelve Months Or More In Default For More Than Thirty Six Consecutive Months
PrimaryDefaultInventoryTwelveMonthsOrMorePercentOfPrimaryDefaultInventoryInDefaultForTwelveMonthsOrMoreInDefaultForMoreThanThirtySixConsecutiveMonths
0.36
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
76151000 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
123640000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
30096000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
26112000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7199000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8688000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-113446000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-392512000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
33659000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
184939000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
332913000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
304958000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
366572000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
489897000 usd
CY2022Q1 mtg Primary Default Inventory Twelve Months Or More Percent Of Primary Default Inventory In Default For Twelve Months Or More In Default For More Than Thirty Six Consecutive Months
PrimaryDefaultInventoryTwelveMonthsOrMorePercentOfPrimaryDefaultInventoryInDefaultForTwelveMonthsOrMoreInDefaultForMoreThanThirtySixConsecutiveMonths
0.23
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:3pt;text-align:justify"><span style="color:#003b5c;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current year presentation.</span></div>
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
663200000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
662800000 usd
CY2023Q1 us-gaap Interest Paid
InterestPaid
17100000 usd
CY2022Q1 us-gaap Interest Paid
InterestPaid
26700000 usd
CY2023Q1 us-gaap Direct Premiums Earned
DirectPremiumsEarned
286034000 usd
CY2022Q1 us-gaap Direct Premiums Earned
DirectPremiumsEarned
287273000 usd
CY2023Q1 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
2787000 usd
CY2022Q1 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
2126000 usd
CY2023Q1 us-gaap Ceded Premiums Earned
CededPremiumsEarned
46806000 usd
CY2022Q1 us-gaap Ceded Premiums Earned
CededPremiumsEarned
34159000 usd
CY2023Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
242015000 usd
CY2022Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
255240000 usd
CY2023Q1 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
11123000 usd
CY2022Q1 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
-21092000 usd
CY2023Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
4000 usd
CY2022Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
-207000 usd
CY2023Q1 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
12100000 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
CY2023Q1 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
6446000 usd
CY2022Q1 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
-19314000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
154547000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
175013000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
290989000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315975000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
154547000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
175013000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
154922000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
176525000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
290989000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315975000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
294712000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
324538000 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q4 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
11800000 usd
CY2023Q1 us-gaap Assets Held In Trust
AssetsHeldInTrust
130700000 usd
CY2022Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
128400000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
667113000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
657832000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
1362173000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
1300280000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
1831636000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
1693166000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
1188575000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
1035420000 usd
CY2023Q1 mtg Available For Sale Securities Debt Maturities With Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithSingleMaturityDateAmortizedCost
5049497000 usd
CY2023Q1 mtg Available For Sale Securities Debt Maturities With Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithSingleMaturityDateFairValue
4686698000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
5979045000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5564053000 usd
CY2023Q1 mtg Number Of Jurisdictions With Risk To Capital Requirements
NumberOfJurisdictionsWithRiskToCapitalRequirements
16 jurisdiction
CY2023Q1 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
15946000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
2000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
1425000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
14523000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
15924000 usd
CY2022 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
0 usd
CY2022 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
1784000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
14140000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
59000 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
4134000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
4133000 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
4657000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
360000 usd
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-1005000 usd
CY2023Q1 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
-3976000 usd
CY2022Q1 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
733000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
6000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
11000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-14000 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
12000 usd
CY2023Q1 mtg Net Gains Losses On Investments And Other Financial Instruments
NetGainsLossesOnInvestmentsAndOtherFinancialInstruments
-7698000 usd
CY2022Q1 mtg Net Gains Losses On Investments And Other Financial Instruments
NetGainsLossesOnInvestmentsAndOtherFinancialInstruments
-772000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
32181000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
216824000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
0 usd
CY2022Q1 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
0 usd
CY2023Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
75666000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
1634202000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
44345000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
3143669000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
382232000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
4777871000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
426577000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
3411256000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
298637000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
1592040000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
224403000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
5003296000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
523040000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
1152 security
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
1226 security
CY2023Q1 us-gaap Description Of Regulatory Capital Requirements Under Insurance Regulations
DescriptionOfRegulatoryCapitalRequirementsUnderInsuranceRegulations
25 to 1
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
108875000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-342462000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
22863000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-71917000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
86012000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-270545000 usd
CY2023Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-10346000 usd
CY2023Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-40800000 usd
CY2022Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-55700000 usd
CY2023Q1 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Table 11.1 provides a reconciliation of beginning and ending loss reserves as of and for the three months ended March 31, 2023 and 2022.</span></div><div style="margin-bottom:9pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:4.455%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.455%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.650%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.652%"/><td style="width:0.1%"/></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Development of reserves for losses and loss adjustment expenses</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #b9d9eb;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Table</span></td><td colspan="3" style="border-top:0.5pt solid #b9d9eb;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11.1</span></div></td><td colspan="3" style="border-top:0.5pt solid #b9d9eb;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #b9d9eb;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #b9d9eb;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #b9d9eb;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Three Months Ended March 31,</span></td></tr><tr><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2022</span></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reserve at beginning of period</span></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">557,988</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">883,522 </span></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.25pt solid #d0d0ce;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less reinsurance recoverable</span></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,240</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66,905 </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net reserve at beginning of period</span></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">529,748</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">816,617 </span></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:3pt"><td colspan="6" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Losses incurred:</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Losses and LAE incurred in respect of delinquency notices received in:</span></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">47,212</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36,344 </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.25pt solid #d0d0ce;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prior years </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(40,766)</span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(55,658)</span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total losses incurred</span></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,446</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,314)</span></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:3pt"><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Losses paid:</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Losses and LAE paid in respect of delinquency notices received in:</span></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">—</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,440</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,748 </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="6" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total losses paid</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,440</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,748 </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #d0d0ce;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net reserve at end of period</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">525,754</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">786,555 </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.25pt solid #d0d0ce;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plus reinsurance recoverable</span></td><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32,761</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #d0d0ce;padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #d0d0ce;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64,717 </span></td><td style="border-top:0.25pt solid #d0d0ce;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="6" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reserve at end of period</span></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:700;line-height:100%">558,515</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:100%">851,272 </span></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">A positive number for prior year loss reserve development indicates a deficiency of prior year reserves. A negative number for prior year loss reserve development indicates a redundancy of prior year loss reserves. See the following table for more information about prior year loss reserve development.</span></div>
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
557988000 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
883522000 usd
CY2022Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
28240000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
66905000 usd
CY2022Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
529748000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
816617000 usd
CY2023Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
47212000 usd
CY2022Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
36344000 usd
CY2023Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-40766000 usd
CY2022Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-55658000 usd
CY2023Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
6446000 usd
CY2022Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
-19314000 usd
CY2023Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
0 usd
CY2022Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
0 usd
CY2023Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
10440000 usd
CY2022Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
10748000 usd
CY2023Q1 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
10440000 usd
CY2022Q1 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
10748000 usd
CY2023Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
525754000 usd
CY2022Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
786555000 usd
CY2023Q1 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
32761000 usd
CY2022Q1 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
64717000 usd
CY2023Q1 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
558515000 usd
CY2022Q1 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
851272000 usd
CY2023Q1 mtg Primary Default Inventory Paids
PrimaryDefaultInventoryPaids
311 loan
CY2022Q1 mtg Primary Default Inventory Paids
PrimaryDefaultInventoryPaids
322 loan
CY2023Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-40766000 usd
CY2022Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-55658000 usd
CY2022Q4 mtg Primary Default Inventory
PrimaryDefaultInventory
26387 loan
CY2021Q4 mtg Primary Default Inventory
PrimaryDefaultInventory
33290 loan
CY2023Q1 mtg Primary Default Inventory New Notices
PrimaryDefaultInventoryNewNotices
11297 loan
CY2022Q1 mtg Primary Default Inventory New Notices
PrimaryDefaultInventoryNewNotices
10703 loan
CY2023Q1 mtg Primary Default Inventory Cures
PrimaryDefaultInventoryCures
12607 loan
CY2022Q1 mtg Primary Default Inventory Cures
PrimaryDefaultInventoryCures
13200 loan
CY2023Q1 mtg Primary Default Inventory Twelve Months Or More Percent Of Primary Default Inventory In Default For Twelve Months Or More In Default For More Than Thirty Six Consecutive Months
PrimaryDefaultInventoryTwelveMonthsOrMorePercentOfPrimaryDefaultInventoryInDefaultForTwelveMonthsOrMoreInDefaultForMoreThanThirtySixConsecutiveMonths
0.38
CY2023Q1 mtg Primary Default Inventory Rescissions And Denials
PrimaryDefaultInventoryRescissionsAndDenials
9 loan
CY2022Q1 mtg Primary Default Inventory Rescissions And Denials
PrimaryDefaultInventoryRescissionsAndDenials
9 loan
CY2023Q1 mtg Primary Default Inventory
PrimaryDefaultInventory
24757 loan
CY2022Q1 mtg Primary Default Inventory
PrimaryDefaultInventory
30462 loan
CY2023Q1 mtg Primary Default Inventory Three Months Or Less
PrimaryDefaultInventoryThreeMonthsOrLess
7573 loan
CY2022Q4 mtg Primary Default Inventory Three Months Or Less
PrimaryDefaultInventoryThreeMonthsOrLess
8820 loan
CY2022Q1 mtg Primary Default Inventory Three Months Or Less
PrimaryDefaultInventoryThreeMonthsOrLess
7382 loan
CY2023Q1 mtg Primary Default Inventory Four To Eleven Months
PrimaryDefaultInventoryFourToElevenMonths
8563 loan
CY2022Q4 mtg Primary Default Inventory Four To Eleven Months
PrimaryDefaultInventoryFourToElevenMonths
8217 loan
CY2022Q1 mtg Primary Default Inventory Four To Eleven Months
PrimaryDefaultInventoryFourToElevenMonths
8131 loan
CY2023Q1 mtg Primary Default Inventory Twelve Months Or More
PrimaryDefaultInventoryTwelveMonthsOrMore
8621 loan
CY2022Q4 mtg Primary Default Inventory Twelve Months Or More
PrimaryDefaultInventoryTwelveMonthsOrMore
9350 loan
CY2022Q1 mtg Primary Default Inventory Twelve Months Or More
PrimaryDefaultInventoryTwelveMonthsOrMore
14949 loan
CY2023Q1 mtg Primary Default Inventory
PrimaryDefaultInventory
24757 loan
CY2022Q4 mtg Primary Default Inventory
PrimaryDefaultInventory
26387 loan
CY2022Q1 mtg Primary Default Inventory
PrimaryDefaultInventory
30462 loan
CY2023Q1 mtg Primary Default Inventory Three Months Or Less Percentage
PrimaryDefaultInventoryThreeMonthsOrLessPercentage
0.31
CY2022Q4 mtg Primary Default Inventory Three Months Or Less Percentage
PrimaryDefaultInventoryThreeMonthsOrLessPercentage
0.33
CY2022Q1 mtg Primary Default Inventory Three Months Or Less Percentage
PrimaryDefaultInventoryThreeMonthsOrLessPercentage
0.24
CY2023Q1 mtg Primary Default Inventory Four To Eleven Months Percentage
PrimaryDefaultInventoryFourToElevenMonthsPercentage
0.34
CY2022Q4 mtg Primary Default Inventory Four To Eleven Months Percentage
PrimaryDefaultInventoryFourToElevenMonthsPercentage
0.31
CY2022Q1 mtg Primary Default Inventory Four To Eleven Months Percentage
PrimaryDefaultInventoryFourToElevenMonthsPercentage
0.27
CY2023Q1 mtg Primary Default Inventory Twelve Months Or More Percentage
PrimaryDefaultInventoryTwelveMonthsOrMorePercentage
0.35
CY2022Q4 mtg Primary Default Inventory Twelve Months Or More Percentage
PrimaryDefaultInventoryTwelveMonthsOrMorePercentage
0.36
CY2022Q1 mtg Primary Default Inventory Twelve Months Or More Percentage
PrimaryDefaultInventoryTwelveMonthsOrMorePercentage
0.49
CY2023Q1 mtg Primary Default Inventory Percentage
PrimaryDefaultInventoryPercentage
1
CY2022Q4 mtg Primary Default Inventory Percentage
PrimaryDefaultInventoryPercentage
1
CY2022Q1 mtg Primary Default Inventory Percentage
PrimaryDefaultInventoryPercentage
1
CY2023Q1 mtg Primary Default Inventory Claims Received Inventory
PrimaryDefaultInventoryClaimsReceivedInventory
296 loan
CY2022Q4 mtg Primary Default Inventory Claims Received Inventory
PrimaryDefaultInventoryClaimsReceivedInventory
267 loan
CY2022Q1 mtg Primary Default Inventory Claims Received Inventory
PrimaryDefaultInventoryClaimsReceivedInventory
217 loan
CY2023Q1 mtg Premium Refund Liability Expected Claim Payments
PremiumRefundLiabilityExpectedClaimPayments
24200000 usd
CY2022Q4 mtg Premium Refund Liability Expected Claim Payments
PremiumRefundLiabilityExpectedClaimPayments
25500000 usd
CY2023Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5800000 shares
CY2023Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
13.43
CY2022 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
27800000 shares
CY2022 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
13.89
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
36000000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
CY2023Q1 us-gaap Dividends Cash
DividendsCash
29600000 usd
CY2023Q1 us-gaap Statutory Accounting Practices Statutory Net Income Amount
StatutoryAccountingPracticesStatutoryNetIncomeAmount
54612000 usd
CY2022Q1 us-gaap Statutory Accounting Practices Statutory Net Income Amount
StatutoryAccountingPracticesStatutoryNetIncomeAmount
96018000 usd
CY2023Q1 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance
992075000 usd
CY2022Q1 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance
1319633000 usd
CY2023Q1 mtg Contingency Reserve
ContingencyReserve
4803752000 usd
CY2022Q1 mtg Contingency Reserve
ContingencyReserve
4263599000 usd

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