Statutory Information (Tables)

12 Months Ended

Dec. 31, 2020

Statutory Capital [Abstract]

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 shown in table 14.1 below. 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.

Statutory financial information of insurance subsidiaries
Table	14.1
		As of and for the Years Ended December 31,
(In thousands)		2020		2019		2018
Statutory net income		$	65,201	$	305,857	$	375,484
Statutory policyholders' surplus		1,339,509		1,619,069		1,683,058
Contingency reserve		3,585,864		3,021,055		2,442,996

For the years ended December 31, 2020, 2019, and 2018 there were no surplus contributions made to MGIC or distributions from other insurance subsidiaries to us. Dividends paid by MGIC are shown in table 14.2 below.

Surplus contributions and dividends of insurance subsidiaries
Table	14.2
		Years Ended December 31,
(In thousands)		2020		2019	2018
Dividends paid by MGIC to the parent company (1)		$	390,000	280,000	220,000

(1) Dividends paid in cash and/or investment securities. Also in 2020, MGIC distributed to the holding company, as a dividend, its ownership in the 9% Debentures held at an amortized cost of $139.5 million.