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Note 7 - Reinsurance (Tables)
 6 Months Ended
Jun. 30, 2019
Reinsurance Disclosures [Abstract]  
Reinsurance, Net Premiums Written and Earned [Table Text Block]
The effect of all of our reinsurance programs on our net income is as follows:
 
Three Months Ended
June 30,

Six Months Ended
June 30,
(In thousands)
2019

2018

2019

2018
Net premiums written—insurance:
 
 
 
 
 
 
 
Direct
$
279,991

 
$
284,713

 
$
541,022

 
$
541,312

Assumed (1) 
2,475

 
1,504

 
4,920

 
2,816

Ceded (2) 
(14,289
)
 
(31,883
)
 
(24,445
)
 
(51,814
)
Net premiums written—insurance
$
268,177

 
$
254,334

 
$
521,497

 
$
492,314

 
 
 
 
 
 
 
 
Net premiums earned—insurance:
 
 
 
 
 
 
 
Direct
$
333,791

(3)
$
266,512

 
$
614,014

(3)
$
523,943

Assumed (1) 
2,481

 
1,510

 
4,931

 
2,828

Ceded (2) 
(37,106
)
(3)
(16,678
)
 
(56,267
)
(3)
(32,877
)
Net premiums earned—insurance
$
299,166

(3)
$
251,344

 
$
562,678

(3)
$
493,894

 
 
 
 
 
 
 
 
Ceding commissions earned
$
16,353

(3)
$
8,539

 
$
25,038

(3)
$
17,355

Ceded losses
1,868

 
1,019

 
3,555

 
2,165


______________________
(1)
Includes premiums earned from our participation in certain Front-end and Back-end credit risk transfer programs.
(2)
Net of profit commission.
(3)
Includes a cumulative adjustment to unearned premiums recorded in the second quarter of 2019 related to an update to the amortization rates used to recognize revenue for Single Premium Policies. See Note 3 for further information.
Schedule of VIE Assets [Table Text Block] The following table presents the total assets of the Eagle Re Issuers as well as Radian Guaranty’s maximum exposure to loss associated with each Eagle Re Issuer, as of the dates indicated.
 
 
At June 30, 2019
 
 
 
 
Maximum Exposure to Loss
(In thousands)
 
Total VIE Assets (1)
 
On - Balance Sheet
 
Off - Balance Sheet (2)
 
Total
Eagle Re 2018-1
 
$
434,034

 
$
557

(3)
$
434,034

 
$
434,591

Eagle Re 2019-1
 
562,036

 
410

(3)
562,036

 
562,446

Total
 
$
996,070

 
$
967

 
$
996,070

 
$
997,037

 
 
 
 
 
 
 
 
 
 
 
At December 31, 2018
 
 
 
 
Maximum Exposure to Loss
(In thousands)
 
Total VIE Assets (1)
 
On - Balance Sheet
 
Off - Balance Sheet (2)
 
Total
Eagle Re 2018-1
 
$
434,034

 
$
1,114

(3)
$
434,034

 
$
435,148

Total
 
$
434,034

 
$
1,114

 
$
434,034

 
$
435,148

______________________
(1)
Assets held by the Eagle Re Issuers are required to be invested in U.S. government money market funds, cash or U.S. Treasury securities. Liabilities of the Eagle Re Issuers consist of their mortgage insurance-linked notes, described above.
(2)
Represents Radian Guaranty’s maximum exposure to loss in the event the VIE is unable to meet its obligations to us and our insurance subsidiaries would be liable to make claims payments to our policyholders. In the event that all of the assets in the reinsurance trust (consisting of U.S. government money market funds, cash or U.S. Treasury securities) were to lose their value and the VIE is unable to make its payments to us, our maximum potential loss would be the amount of mortgage insurance claim payments for losses on the insured policies, net of the aggregate reinsurance payments already received, up to the full aggregate excess-of-loss reinsurance coverage amount. In the same scenario, the related embedded derivative would no longer have value.
(3)
Represents the fair value of the related embedded derivative, included in other assets in our condensed consolidated balance sheets.