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Statutory Information (Tables)

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]

Statutory net income and policyholders' surplus

Our insurance subsidiaries’ statutory net income and statutory policyholders’ surplus for the years ended and as of December 31, 2022, 2021 and 2020, were as follows.


Statutory net income

	Years Ended December 31,
(In thousands)	2022		2021		2020
Radian Guaranty (1)	$	1,091,946	$	762,609	$	474,431
Other mortgage subsidiaries	1,957		1,669		1,086
Radian Title Insurance	2,589		6,862		2,126

Statutory policyholders’ surplus (2)

	December 31,
(In thousands)	2022		2021		2020
Radian Guaranty (1)	$	758,467	$	1,105,266	$	842,188
Other mortgage subsidiaries	17,086		14,524		41,327		(3)
Radian Title Insurance	39,285		36,599		28,849

(1)The amounts for 2021 and 2020 have been updated to reflect the merger of Radian Reinsurance into Radian Guaranty. See “—Recent Capital Actions” above.

(2)See the “Surplus additions (distributions)” table under “—Statutory Dividend Restrictions” below for additional information on certain changes impacting policyholders’ surplus.(3)Includes the surplus for two previous insurance subsidiaries, Radian Mortgage Guaranty Inc. and Radian Investor Surety Inc., which were dissolved in 2021.

Surplus additions (distributions)

The surplus additions (distributions) between Radian Group and Radian Guaranty and our other insurance subsidiaries for the years ended December 31, 2022, 2021 and 2020, were as follows.


Surplus additions (distributions)

	Years Ended December 31,
(In thousands)	2022		2021		2020
Additions to Radian Guaranty surplus	$	—	$	—	$	200,000
Distributions from Radian Guaranty surplus (1)	(881,979)		—		—
Additions to other insurance subsidiaries’ surplus	—		250		—
Distributions from other insurance subsidiaries’ surplus (2)	(32,500)		(40,000)		(465,000)

(1)Consists of $782 million in returns of capital and a $100 million repayment of the Surplus Note due 2027.

(2)These distributions were from Radian Reinsurance prior to its merger with Radian Guaranty.

- 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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