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Losses and LAE (Tables)
6 Months Ended
Jun. 30, 2024
Insurance Loss Reserves [Abstract]  
Schedule of Reserve for Losses and LAE by Segment
Our reserve for losses and LAE consisted of the following as of the dates indicated.
Reserve for losses and LAE
(In thousands)June 30,
2024
December 31,
2023
Primary case$331,959 $344,235 
Primary IBNR and LAE11,754 12,177 
Pool and other 7,494 8,511 
Mortgage insurance351,207 364,923 
Title insurance 6,263 5,225 
Total reserve for losses and LAE$357,470 $370,148 
Schedule of Provision for Losses
Provision for losses consisted of the following.
Provision for losses
Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands)2024202320242023
Mortgage insurance$(1,769)$(21,623)$(8,655)$(38,487)
Title insurance24 (9)(124)(74)
Total provision for losses$(1,745)$(21,632)$(8,779)$(38,561)
Schedule of Mortgage Insurance Reserve for Losses and LAE Rollforward
For the periods indicated, the following table presents information relating to our mortgage insurance reserve for losses, including our IBNR reserve and LAE.
Rollforward of mortgage insurance reserve for losses
Six Months Ended
June 30,
(In thousands)20242023
Balance at beginning of period$364,923 $420,955 
Less: Reinsurance recoverables (1)
25,074 24,727 
Balance at beginning of period, net of reinsurance recoverables339,849 396,228 
Add: Losses and LAE incurred in respect of default notices reported and unreported in:
Current year (2)
100,986 87,594 
Prior years (109,642)(126,081)
Total incurred(8,656)(38,487)
Deduct: Paid claims and LAE related to:
Current year (2)
91 40 
Prior years8,813 6,138 
Total paid8,904 6,178 
Balance at end of period, net of reinsurance recoverables322,289 351,563 
Add: Reinsurance recoverables (1)
28,918 22,118 
Balance at end of period$351,207 $373,681 
(1)Related to ceded losses recoverable, if any, on reinsurance transactions. See Note 8 for additional information.
(2)Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default.