Losses and LAE (Tables)

9 Months Ended

Sep. 30, 2022

Insurance Loss Reserves [Abstract]

Reserve for Losses and LAE by Segment

Our reserve for losses and LAE, at the end of each period indicated, consisted of the following.

Reserve for losses and LAE
(In thousands)	September 30, 2022		December 31, 2021
Primary case	$	454,726	$	790,380
Primary IBNR and LAE	13,672		22,745
Pool and other	9,349		10,011
Mortgage insurance	477,747		823,136
Title insurance	5,917		5,506
Total reserve for losses and LAE	$	483,664	$	828,642

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
	Nine Months Ended September 30,
(In thousands)	2022		2021
Balance at beginning of period	$	823,136	$	844,107
Less: Reinsurance recoverables (1)	66,676		71,769
Balance at beginning of period, net of reinsurance recoverables	756,460		772,338
Add: Losses and LAE incurred in respect of default notices reported and unreported in:
Current year (2)	115,159		119,823
Prior years	(411,024)		(53,947)
Total incurred	(295,865)		65,876
Deduct: Paid claims and LAE related to:
Current year (2)	381		499
Prior years	12,123		24,431
Total paid	12,504		24,930
Balance at end of period, net of reinsurance recoverables	448,091		813,284
Add: Reinsurance recoverables (1)	29,656		74,737
Balance at end of period	$	477,747	$	888,021

(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.