Statutory Information (Tables)

12 Months Ended

Dec. 31, 2021

Statutory Capital [Abstract]

Summary of amounts disclosed under statutory accounting practices

The statutory net income, policyholders’ surplus, and contingency reserve liability of our insurance subsidiaries, which agrees to amounts utilized in our risk-to-capital calculations, are shown in table 14.1.

Statutory financial information of insurance subsidiaries
Table	14.1
		As of and for the Years Ended December 31,
(In thousands)		2021		2020		2019
Statutory net income		$	295,811	$	65,201	$	305,857
Statutory policyholders' surplus		1,220,714		1,339,509		1,619,069
Contingency reserve		4,126,604		3,585,864		3,021,055

For the years ended December 31, 2021, 2020, and 2019 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)		2021		2020	2019
Dividends paid by MGIC to the parent company (1)		$	400,000	390,000	280,000

(1) Dividends paid in cash and/or investment securities. Also in 2021 MGIC distributed to the holding company, as a dividend, its investment in MGIC Credit Assurance Corporation at an amount of $8.9 million. 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.