Statutory Information (Tables)

12 Months Ended

Dec. 31, 2017

Summary of amounts disclosed under statutory accounting practices

The statutory net income (loss), policyholders' surplus and contingency reserve liability of the insurance subsidiaries of our holding company are show in table 14.1 below. The statutory net loss in 2015 was driven by the dissolution of an MGIC non-insurance subsidiary. The surplus amounts included in the following table are the combined policyholders' surplus of our insurance operations as utilized in our risk-to-capital calculations.



	Table	14.1
Statutory financial information of holding company insurance subsidiaries			As of and for the Years Ended December 31,
	(in thousands)		2017		2016		2015
	Statutory net income (loss)		$	310,776	$	106,326	$	(72,767	)	⁽¹⁾
	Statutory policyholders' surplus		1,622,115		1,506,475		1,608,214			⁽¹⁾
	Contingency reserve		1,896,701		1,360,088		826,706


⁽¹⁾	The dissolution of an MGIC non-insurance subsidiary in 2015 had no impact on statutory surplus as the equity value of the investment was fully reflected in surplus as an unrealized loss prior to 2015.

The surplus contributions made to MGIC, dividends paid by MGIC, and distributions from other insurance subsidiaries to us, are shown in table 14.2 below.



	Table	14.2
Surplus contributions and dividends of insurance subsidiaries			Years Ended December 31,
	(in thousands)		2017		2016	2015
	Additions to the surplus of MGIC from parent company funds		$	—	36,025	—
	Dividends paid by MGIC to the parent company		$	140,000	64,000	—
	Distributions from other insurance subsidiaries to the parent company		$	—	52,001	38,500

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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