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Statutory Information (Tables)

12 Months Ended

Dec. 31, 2024

Summary of amounts disclosed under statutory accounting practices

The statutory net income, policyholders’ surplus, and contingency reserve liability of our insurance subsidiaries, including MGIC, 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)		2024		2023		2022
Statutory net income		$	1,112,477	$	279,145	$	440,944
Statutory policyholders' surplus		976,756		639,878		924,977
Contingency reserve		4,897,284		5,199,405		4,669,724

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)		2024		2023	2022

Dividends paid by MGIC to the holding company (1)		$	750,000	600,000	800,000

(1) Dividends paid in cash and/or investment securities

- 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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