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Note 7 - Reinsurance (Tables)
 9 Months Ended
Sep. 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
September 30,

Nine Months Ended
September 30,
(In thousands)
2019

2018

2019

2018
Net premiums written—insurance:
 
 
 
 
 
 
 
Direct
$
287,000

 
$
279,137

 
$
828,022

 
$
820,449

Assumed (1) 
2,608

 
1,987

 
7,528

 
4,803

Ceded (2) 
(15,455
)
 
(24,348
)
 
(39,900
)
 
(76,162
)
Net premiums written—insurance
$
274,153

 
$
256,776

 
$
795,650

 
$
749,090

 
 
 
 
 
 
 
 
Net premiums earned—insurance:
 
 
 
 
 
 
 
Direct
$
305,493

 
$
272,505

 
$
919,507

(3)
$
796,448

Assumed (1) 
2,614

 
1,994

 
7,545

 
4,822

Ceded (2) 
(26,922
)
 
(16,068
)
 
(83,189
)
(3)
(48,945
)
Net premiums earned—insurance
$
281,185

 
$
258,431

 
$
843,863

(3)
$
752,325

 
 
 
 
 
 
 
 
Ceding commissions earned
$
12,153

 
$
8,373

 
$
37,191

(3)
$
25,728

Ceded losses
771

 
1,191

 
4,326

 
3,356


______________________
(1)
Includes premiums earned from our participation in certain 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 September 30, 2019
 
 
 
 
Maximum Exposure to Loss
(In thousands)
 
Total VIE Assets (1)
 
On - Balance Sheet
 
Off - Balance Sheet (2)
 
Total
Eagle Re 2018-1
 
$
408,586

 
$
1,493

(3)
$
408,586

 
$
410,079

Eagle Re 2019-1
 
562,036

 
2,202

(3)
562,036

 
564,238

Total
 
$
970,622

 
$
3,695

 
$
970,622

 
$
974,317

 
 
 
 
 
 
 
 
 
 
 
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.