7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2009-03-31 2008-06-30 2008-03-31 2007-09-30 2007-06-30 2007-03-31 2006-09-30 2006-06-30 2006-03-31 2005-09-30 2005-06-30 2005-03-31 2004-09-30 2004-06-30 2004-03-31 
      
    		                                                          
      cash flows from operating activities
    		                                           27,104,000 -123,214,000 -62,031,000 94,293,000 25,578,000 204,187,000 130,610,000 115,813,000 127,321,000 280,568,000 99,050,000 65,423,000 99,814,000 79,661,000 21,936,000 
      net income
    		141,443,000 141,796,000 144,558,000 148,291,000 151,892,000                                       -88,797,000               
      less: income from discontinued operations, net of tax
    		                                                          
      net income from continuing operations
    		                                                          
      adjustments to reconcile net income to net cash from operating activities:
    		                                                          
      net (gains) losses on investments and other financial instruments
    		-6,710,000 4,852,000 723,000 8,291,000 -2,174,000                                                      
      loss on extinguishment of debt
    		   0 0                                                      
      depreciation, other amortization and other impairments
    		                                                          
      deferred income tax provision
    		52,717,000 31,439,000 42,705,000 40,219,000 43,157,000                                                      
      change in:
    		                                                          
      accrued investment income
    		6,298,000 -7,971,000 2,950,000 -1,473,000 -4,053,000                                                      
      accounts and notes receivable
    		-6,056,000 -2,714,000 995,000 10,215,000 2,148,000                                                      
      reinsurance recoverable
    		-3,059,000 -3,425,000 -3,794,000 -2,418,000 -2,951,000                                                      
      deferred policy acquisition costs
    		537,000 607,000 -109,000 684,000 136,000                                       26,391,000               
      prepaid federal income tax
    		-14,824,000   -50,744,000 -32,600,000                                                      
      other assets
    		6,820,000 614,000 8,761,000 16,990,000 -1,330,000                                                      
      unearned premiums
    		-5,736,000 -7,030,000 -9,406,000 -9,670,000 -8,087,000                                       319,785,000               
      reserve for losses and lae
    		10,442,000 8,158,000 14,619,000 -2,899,000 5,755,000                                                      
      reinsurance funds withheld
    		3,213,000 3,027,000 3,156,000 -16,827,000 2,961,000                                                      
      other liabilities
    		24,401,000 -13,635,000 -22,684,000 -6,367,000 10,385,000                                                      
      net cash from operating activities, continuing operations
    		                                   91,587,000 135,639,000 112,629,000 41,869,000 21,507,000 60,811,000 -66,884,000 80,000                
      net cash from operating activities, discontinued operations
    		                                       0 0 10,409,000 -12,168,000                
      net cash from operating activities
    		358,397,000 -713,335,000 67,806,000 -269,415,000 -237,919,000 -207,282,000 51,044,000 264,958,000 75,227,000 72,471,000 116,778,000 106,150,000 105,298,000 60,175,000 116,675,000 153,808,000 127,408,000 122,867,000 153,029,000 159,678,000 193,465,000 149,491,000 155,800,000 187,626,000 168,676,000 120,351,000 217,778,000 185,857,000 191,107,000 182,375,000 118,447,000 142,150,000 12,013,000 122,480,000 83,932,000 91,587,000 135,639,000 112,629,000 41,869,000 21,507,000 60,811,000 -56,475,000 -12,088,000                
      capex
    		-843,000 -1,284,000 -1,209,000 -342,000 -207,000 -1,066,000 -1,558,000 -1,886,000 -4,282,000 -5,327,000 -4,786,000 -5,523,000 -4,664,000 0 -4,075,000 -3,881,000 -3,727,000 -2,920,000 -2,073,000 -2,293,000 -4,129,000 -5,644,000 -4,950,000 -6,919,000 -5,500,000 -8,548,000 -6,659,000 -5,685,000 -7,995,000 -7,626,000 -4,702,000 -3,503,000 -11,729,000 -5,757,000 -7,687,000 -7,290,000 -11,626,000 -10,108,000 -6,518,000 -6,202,000 -8,610,000 -8,184,000 -2,470,000                
      free cash flows
    		357,554,000 -714,619,000 66,597,000 -269,757,000 -238,126,000 -208,348,000 49,486,000 263,072,000 70,945,000 67,144,000 111,992,000 100,627,000 100,634,000 60,175,000 112,600,000 149,927,000 123,681,000 119,947,000 150,956,000 157,385,000 189,336,000 143,847,000 150,850,000 180,707,000 163,176,000 111,803,000 211,119,000 180,172,000 183,112,000 174,749,000 113,745,000 138,647,000 284,000 116,723,000 76,245,000 84,297,000 124,013,000 102,521,000 35,351,000 15,305,000 52,201,000 -64,659,000 -14,558,000                
      cash flows from investing activities
    		                                                          
      proceeds from sales of:
    		                                                          
      available for sale securities
    		40,972,000 115,909,000 117,832,000                                                        
      equity securities
    		21,486,000 3,589,000 14,319,000 17,244,000 13,996,000 13,667,000 840,000 21,817,000 841,000 43,219,000 2,076,000 359,000 1,875,000 1,235,000 4,535,000 7,459,000 24,849,000 2,601,000 1,839,000 13,005,000 1,652,000 16,454,000 59,339,000 17,484,000 12,477,000 6,540,000 33,278,000 2,995,000 10,001,000 26,906,000 55,795,000                            
      proceeds from redemptions of:
    		                                                          
      trading securities
    		595,000 2,600,000 7,803,000     0 1,000 -1,000 9,123,000 39,000    0 0 0 7,952,000 0 0 1,666,000 9,936,000 9,662,000 9,162,000 41,630,000 70,083,000 23,135,000 18,543,000 4,675,000 11,964,000 18,336,000 46,426,000 83,334,000 46,688,000 112,628,000 28,109,000                      
      purchases of:
    		                                                          
      sales, redemptions and (purchases) of:
    		                                                          
      short-term investments
    		-226,822,000 27,593,000 -4,408,000 -88,559,000 308,463,000 -27,514,000 -39,147,000 -174,090,000 -47,134,000 -73,628,000 43,190,000 -18,239,000 -44,162,000 142,942,000 70,153,000 85,557,000 24,451,000 -9,614,000 -32,311,000 -61,128,000 396,947,000 -346,524,000 -72,220,000 20,216,000 360,341,000 153,473,000 -526,013,000 108,453,000 -11,212,000 -188,349,000 -17,217,000 72,749,000 49,567,000 144,019,000 57,923,000 92,877,000 -34,713,000                      
      other assets and other invested assets
    		214,000 -46,000 -279,000 -159,000 43,000 1,411,000 -180,000 2,900,000 -2,750,000 -30,000 -165,000 -6,353,000 257,000   -127,000 1,210,000 2,322,000 2,721,000 445,000 -1,357,000 -1,000 2,347,000 -1,426,000 197,000 141,000 349,000 479,000 1,818,000 201,000 92,000 286,000 184,000 190,000 222,000 99,000 1,233,000                      
      additions to property and equipment
    		-843,000 -1,284,000 -1,209,000 -342,000 -207,000 -1,066,000 -1,558,000 -1,886,000 -4,282,000 -5,327,000 -4,786,000 -5,523,000 -4,664,000                                              
      net cash from investing activities, continuing operations
    		                                   -89,003,000 92,999,000 -105,464,000 -74,590,000  -41,899,000 31,162,000 25,189,000                
      net cash from investing activities, discontinued operations
    		                                       0 0 -4,515,000 9,514,000                
      net cash from investing activities
    		-26,705,000 125,073,000 106,237,000 35,317,000 366,862,000 -1,035,000 -73,398,000 -111,397,000 -99,412,000 -59,491,000 -30,542,000 -53,731,000 35,952,000 84,399,000 -71,795,000 32,122,000 42,409,000 5,545,000 -81,938,000 -145,523,000 -157,222,000 -612,428,000 31,993,000 -139,146,000 -18,109,000 40,549,000 -185,343,000 -183,014,000 -129,700,000 -256,960,000 -119,740,000 -126,263,000 -25,032,000 -98,731,000 48,534,000 -89,003,000 92,999,000 -105,464,000 -74,590,000 -17,662,000 -41,899,000 26,647,000 34,703,000 -30,022,000   -335,765,000 -34,678,000 -147,210,000    55,092,000   -41,688,000 -81,200,000 -7,411,000 
      cash flows from financing activities
    		                                                          
      dividends and dividend equivalents paid
    		-34,827,000 -38,627,000 -37,288,000 -36,734,000 -37,157,000 -40,507,000 -37,563,000  -35,828,000 -39,516,000 -35,685,000  -32,433,000 -35,934,000 -35,354,000  -26,129,000 -27,941,000 -24,095,000 -24,093,000 -24,064,000 -24,163,000 -25,138,000                                    
      issuance of common stock
    		248,000 670,000 109,000 0 41,000 427,000 460,000  19,000 531,000 983,000  549,000 238,000 331,000  113,000 772,000 340,000 48,000 25,000 33,000 1,447,000 290,000 858,000 905,000 363,000 257,000 318,000 147,000 663,000 3,849,000 160,000 258,000 2,865,000 374,000 278,000 41,000 24,000                    
      repurchases of common stock, including excise taxes paid
    		0                                                          
      issuance of senior notes
    		   0 0 -419,000 617,164,000             0 -516,000   -59,000 -439,000                                  
      redemption of senior notes
    		   0 -450,000,000 0 -527,079,000                                                    
      proceeds
    		                                                          
      proceeds from fhlb advances
    		                                                          
      repayments of fhlb advances
    		                                                          
      proceeds from credit facility borrowings
    		0                                                          
      repayments of credit facility borrowings
    		0                                                          
      credit facility commitment fees paid
    		-141,000 -122,000 -146,000 -239,000 -291,000 -140,000 -142,000  -192,000 -281,000 -193,000  -194,000 -191,000 -189,000  -239,000 -237,000 -234,000 -299,000 -239,000 -1,517,000 -237,000 -279,000 -239,000 -237,000 -234,000 -867,000 -238,000 -220,000 -185,000                            
      proceeds (repayments) related to cash collateral for loaned securities
    		-45,880,000 28,421,000 10,385,000 8,818,000                                                       
      net cash from financing activities, continuing operations
    		                                   -27,000 -237,241,000 -16,669,000 50,668,000 -25,886,000 -1,164,000 26,721,000 930,000                
      net cash from financing activities, discontinued operations
    		                                                          
      net cash from financing activities
    		-337,841,000 582,108,000 -187,166,000 245,495,000 -114,652,000 195,276,000 31,114,000  18,520,000 -1,265,000 -92,052,000  -221,265,000 -142,255,000 -63,996,000  -151,149,000 -114,268,000 -41,474,000 -6,453,000 -34,465,000 485,678,000 -222,142,000 -4,452,000 -177,439,000 -209,532,000 -11,683,000 -10,179,000 -51,795,000 49,206,000 35,154,000 -18,763,000 29,381,000 -27,788,000 -107,914,000 -27,000 -237,241,000 -16,669,000 50,668,000 -25,886,000 -1,164,000 26,721,000 930,000 -203,000 -1,619,000 11,160,000 199,052,000 -10,669,000 14,755,000 -54,228,000 -57,359,000 -48,827,000       
      increase in cash and restricted cash
    		-6,149,000 -6,154,000 -13,123,000 11,397,000 14,291,000 -13,041,000 8,760,000  -5,665,000 11,715,000 -5,816,000  -80,015,000 2,319,000 -19,116,000  18,668,000 14,144,000 29,617,000 7,702,000 1,778,000 22,741,000 -34,349,000 44,028,000 -26,872,000 -48,636,000 20,752,000 -7,336,000 9,613,000 -25,379,000 33,860,000 -2,561,000 16,401,000 -3,986,000 24,576,000                        
      cash and restricted cash, beginning of period
    		0 -1,000 41,473,000 0 0 0 20,065,000  0 0 56,560,000  0 0 152,620,000  0 0 94,146,000 0 0 0 96,274,000 0 0 0 107,002,000 0 0 0 96,244,000 0 0 0 61,814,000                        
      cash and restricted cash, end of period
    		-6,149,000 -6,155,000 28,350,000 11,397,000 14,291,000 -13,041,000 28,825,000  -5,665,000 11,715,000 50,744,000  -80,015,000 2,319,000 133,504,000  18,668,000 14,144,000 123,763,000 7,702,000 1,778,000 22,741,000 61,925,000 44,028,000 -26,872,000 -48,636,000 127,754,000 -7,336,000 9,613,000 -25,379,000 130,104,000 -2,561,000 16,401,000 -3,986,000 86,390,000                        
      supplemental noncash information, discontinued operations
    		                                                          
      transfer from residential mortgage loans held for sale to securitized residential mortgage loans held for investment
    		0 397,971,000 369,977,000 427,648,000                                                       
      retention of mortgage servicing and other related rights from residential mortgage loan sales
    		1,616,000 1,733,000 1,486,000                                                        
      operating lease right-of-use assets obtained in exchange for operating lease liabilities
    		   0                                                       
      purchases of residential mortgage loans held for sale
    		 -944,224,000 -210,909,000 -505,843,000                                                       
      proceeds from sales of residential mortgage loans held for sale
    		 114,543,000 71,046,000 65,014,000                                                       
      principal payments from residential mortgage loans held for sale
    		 8,548,000 12,249,000 9,963,000                                                       
      net (gains) losses on consolidated vie assets and liabilities
    		 2,081,000 -1,430,000 1,434,000                                                       
      depreciation, other amortization, and other impairments
    		 26,724,000 14,376,000 25,725,000 18,753,000                                                      
      principal payments from securitized residential mortgage loans held for investment
    		 66,889,000 39,419,000 58,533,000                                                       
      issuance of securitized nonrecourse debt
    		 391,373,000 353,744,000 421,822,000                                                       
      repayments of securitized nonrecourse debt
    		 -66,889,000 -39,419,000 -58,533,000                                                       
      proceeds from secured borrowings
    		 1,598,912,000 336,069,000 534,860,000 1,101,356,000 406,704,000 145,977,000  120,786,000 44,011,000 10,569,000  13,417,000 10,151,000 3,000,000  0 29,000,000 3,000,000 68,125,000 31,949,000 46,965,000 59,995,000 42,264,000 37,011,000 30,000,000 6,000,000 10,991,000 29,914,000 8,994,000 6,550,000                            
      repayments of secured borrowings
    		 -1,108,645,000 -601,696,000 -548,483,000 -1,052,855,000 -119,889,000 -48,853,000  -46,193,000 -40,493,000 -599,000  -16,000,000 -3,000,000 -5,000,000  -6,000,000 -14,000,000 -28,000,000 -31,950,000 -39,964,000 -37,002,000 -29,011,000 -25,382,000 -23,000,000                                  
      supplemental noncash information
    		                                                          
      repurchases of common stock
    		  -208,924,000 -76,016,000 -49,010,000 -50,015,000 -50,018,000  -50,019,000 -5,002,000 -15,007,000  -200,203,000 -167,920,000 -18,988,000                                            
      amortization and impairment of goodwill and other acquired intangible assets
    		                                                          
      supplemental disclosures of cash flow information
    		                                                          
      income taxes paid
    		                                        -196,000      31,485,000   81,061,000 76,411,000 24,126,000 56,783,000 89,227,000 29,675,000    
      interest paid
    		                                       27,018,000 4,512,000 25,031,000 4,516,000 8,382,000 19,094,000 9,334,000 9,238,000 16,446,000 8,057,000 8,071,000 16,481,000 7,502,000 10,015,000 9,799,000 9,637,000 9,627,000 9,837,000 9,618,000 
      retention of mortgage servicing rights from residential mortgage loan sales
    		   426,000                                                       
      amortization of other acquired intangible assets
    		                                                          
      fixed-maturities available for sale
    		    91,589,000 169,775,000 130,248,000 65,674,000 36,125,000 119,199,000 110,882,000 3,395,000 202,009,000 65,895,000 128,072,000 198,953,000 207,315,000 174,649,000 154,423,000 68,591,000 159,844,000 202,135,000 533,019,000 216,254,000 202,042,000                                  
      purchases of mortgage loans held for sale
    		                                                          
      proceeds from sales of mortgage loans held for sale
    		                                                          
      proceeds from repayments of mortgage loans held for sale
    		                                                          
      change in secured borrowings
    		     -885,000 -68,832,000  29,947,000 39,485,000 -52,120,000  13,599,000 54,401,000 -7,796,000  33,893,000 -11,804,000 16,152,000 -18,284,000 -1,656,000 -14,681,000 -2,854,000 4,294,000 -1,995,000 -9,971,000 21,534,000 -2,072,000 -78,217,000 80,912,000 38,719,000                            
      radian group inc. and subsidiaries notes to unaudited condensed consolidated financial statements
    		                                                          
      impairment of goodwill
    		                                                          
      table of contentsglossary
    		                                                          
      proceeds from sale of subsidiary, net of cash sold
    		                                                          
      purchases of property and equipment
    		              -4,075,000 -3,881,000 -3,727,000 -2,920,000 -2,073,000 -2,293,000 -4,129,000 -5,644,000 -4,950,000 -6,919,000 -5,500,000 -8,548,000 -6,659,000 -5,685,000 -7,995,000 -7,626,000 -4,702,000 -3,503,000 -11,729,000 -5,757,000 -7,687,000 -7,290,000 -11,626,000 -10,108,000 -6,518,000 -6,202,000 -8,610,000 -8,184,000 -2,470,000 -814,000 -2,939,000 -344,000 268,000 -854,000 -2,142,000 -2,172,000 -4,748,000 -4,403,000 -2,016,000 -2,052,000 -2,033,000 -5,269,000 -4,135,000 -5,290,000 
      amortization and impairment of other acquired intangible assets
    		                                                          
      reinsurance recoverables
    		                                                          
      repayments of other borrowings
    		                   0 0 -40,000 -39,000 -38,000 -39,000                                  
      repurchases of common shares
    		                 -90,058,000 -8,637,000 0 0 0 -226,305,000 -25,016,000 -86,368,000                                  
      cash flows from operating activities:
    		                                                          
      prepaid reinsurance premiums
    		                                                          
      cash flows from investing activities:
    		                                                          
      acquisitions, net of cash acquired
    		                           -7,302,000 -28,000 -373,000 -261,000 0 0 0 -86,000     -4,388,000 0 0 -6,449,000                
      cash flows from financing activities:
    		                                                          
      repayments and repurchases of senior notes
    		                       -24,000 -102,722,000                                  
      effect of exchange rate changes on cash and restricted cash
    		                       0 0     0 -1,000 315,000 39,000 53,000 24,000                        
      supplemental disclosures of cash flow information:
    		                                                          
      proceeds from sale of a subsidiary, net of cash sold
    		                    0 612,000 15,869,000                                    
      net income —basic and diluted
    		                                                          
      average common shares outstanding—basic
    		                    -123,000    -4,990,000 -5,440,000 213,537,000                                
      dilutive effect of share-based compensation arrangements
    		                        78,000 700,000 4,806,000                                
      adjusted average common shares outstanding—diluted
    		                    857,000    -4,912,000 -4,740,000 218,343,000                                
      net income per share
    		                                                          
      basic
    		                    850    50 0 800                                
      diluted
    		                    850    50 0 780                                
      net income—basic and diluted
    		                        6,708,000 -4,227,000 170,957,000                                
      •
    		                                                          
      net cash received (transferred) in sale of subsidiaries
    		                                                          
      radian group inc.
    		                                                          
      consolidated statements of cash flows
    		                                                          
      dividends paid
    		                       -502,000 -506,000 -519,000 -534,000 -534,000 -533,000 -533,000 -540,000 -540,000 -538,000 -538,000 -538,000 -537,000 -535,000 -536,000 -497,000 -517,000 -521,000 -480,000 -478,000 -203,000 -1,619,000 -1,640,000 -1,597,000 -1,607,000 -1,604,000 -1,631,000 -1,639,000 -1,664,000 -1,695,000 -1,702,000 -1,769,000 -1,972,000 -1,975,000 -1,885,000 
      proceeds from termination of capped calls
    		                               99,000 26,000       1,177,000 0                  
      fixed-maturity investments available for sale
    		                          435,709,000 151,550,000 228,952,000 123,485,000 224,597,000 151,165,000 87,367,000 396,566,000 253,121,000 149,494,000 231,104,000                      
      purchase of common shares
    		                          -31,774,000  0 -40,050,000 -10,003,000 0 0   0 0                      
      payments of secured borrowings
    		                          -7,000,000 -17,917,000                               
      repayment of other borrowings
    		                          -38,000  -39,000 -44,000 -50,000 -57,000 -67,000 -59,000 -81,000 -79,000 -86,000 -98,000 -108,000                    
      loss on induced conversion and debt extinguishment
    		                                                          
      purchases and redemptions of senior notes
    		                                                          
      purchases of common shares
    		                                                          
      excess tax benefits from stock-based awards
    		                                   218,000 52,000 43,000 20,000 0 321,000 1,271,000 1,408,000    410,000 744,000 4,334,000 2,388,000 113,000 1,261,000       
      amortization and impairment of other intangible assets
    		                                                          
      equity securities available for sale
    		                               14,895,000 5,320,000   0 0                      
      issuance of long-term debt
    		                               -1,087,000    0 -132,000 -590,000 344,139,000 -145,000 -781,000            663,000      
      purchases and redemptions of long-term debt
    		                               -1,609,000 -450,232,000 -31,526,000 -110,160,000 -3,000 -236,818,000 -15,529,000 -192,722,000 -27,686,000 -183,000                  
      change in payable under securities lending agreements
    		                               -17,425,000                           
      less: increase in cash of business held for sale
    		                                                          
      income taxes paid (received), continuing operations
    		                                                          
      income taxes paid, discontinued operations
    		                                                          
      excess tax benefits from share-based awards
    		                                                          
      net (gains) losses on investments and other financial instruments recognized in earnings
    		                                                          
      amortization and impairment of intangible assets
    		                                                          
      depreciation and other amortization
    		                                                          
      fixed-maturity investments held to maturity
    		                                                          
      proceeds from the sale of investment in affiliate, net of cash transferred
    		                                       0 0                  
      effect of exchange rate changes on cash
    		                                    -103,000 -278,000 -1,000 -91,000 -99,000 103,000 -46,000 1,517,000 1,652,000 -3,362,000 -3,708,000 -3,908,000 2,972,000 -136,000 -1,242,000 -155,000       
      increase in cash
    		                                    -8,706,000 -9,782,000 17,946,000 -22,132,000 17,649,000 -3,004,000 23,499,000  -32,710,000 -19,749,000 -46,038,000 -23,767,000 74,704,000 -15,507,000 44,809,000 9,069,000   -8,196,000 -15,324,000 -22,393,000 734,000 
      cash, beginning of period
    		                                    0 0 46,898,000 0 0 0 30,465,000 79,048,000 0 200,787,000 0 0 57,901,000 0 0 7,847,000 0 0 30,680,000 0 0 67,169,000 
      cash, end of period
    		                                    -8,706,000 -9,782,000 64,844,000 -22,132,000 17,649,000 -5,823,000 57,204,000 77,444,000 -32,710,000 181,038,000 -46,038,000 -23,767,000 132,605,000 -15,507,000 44,809,000 16,916,000 3,205,000 2,087,000 22,484,000 -15,324,000 -22,393,000 67,903,000 
      proceeds from sales of fixed-maturity investments available for sale
    		                                      111,099,000 -76,584,000 39,375,000 53,688,000 3,621,000 267,834,000 122,084,000 71,452,000 48,457,000 51,289,000 111,104,000 266,030,000 127,804,000 322,294,000 140,535,000      
      proceeds from sales of equity securities available for sale
    		                                      74,868,000 499,000 0   221,000 2,169,000 3,623,000 28,099,000 11,157,000 5,096,000 16,625,000 14,516,000 56,419,000 10,965,000 43,656,000 9,704,000 26,088,000 15,053,000 172,096,000 
      proceeds from sales of trading securities
    		                                      65,163,000    69,915,000                
      proceeds from redemptions of fixed-maturity investments available for sale
    		                                      58,856,000 38,848,000 39,568,000 19,677,000 5,502,000 77,915,000 47,110,000 45,984,000 69,580,000 47,019,000 51,695,000 65,505,000 41,940,000 38,055,000 61,436,000      
      proceeds from redemptions of trading securities
    		                                      34,105,000                    
      purchases of fixed-maturity investments available for sale
    		                                      -753,660,000 -398,857,000 -361,821,000 -573,350,000 -152,290,000 -32,199,000 -173,030,000 -167,188,000 -95,071,000 -200,964,000 -217,339,000 -331,797,000 -355,489,000 -422,311,000 -413,030,000      
      sales and redemptions of short-term investments
    		                                      341,365,000                    
      sales and redemptions of other assets and other invested assets
    		                                      132,000                    
      purchase of shares under share repurchase program
    		                                      -100,188,000                    
      net payments related to derivative contracts and vies
    		                                                          
      net cash (paid) received for commutations, terminations and recaptures
    		                                                          
      proceeds from redemptions of fixed-maturity investments held to maturity
    		                                           5,005,000 1,640,000 5,841,000 10,023,000 4,912,000 5,906,000 17,523,000 10,391,000 8,968,000 17,528,000      
      proceeds from redemptions of equity securities available for sale
    		                                                          
      purchases of equity securities available for sale
    		                                       -75,038,000 0   -2,710,000 -69,508,000 -15,781,000 -1,013,000 -4,979,000 -830,000 -12,880,000 -11,786,000 -736,000 -53,205,000 -657,000 -10,213,000 -23,592,000 -15,394,000 -145,432,000 
      purchases of trading securities
    		                                                          
      sales, redemptions (purchases) of short-term investments
    		                                                          
      sales of other assets and other invested assets
    		                                                          
      net cash (used in) investing activities, continuing operations
    		                                                          
      purchase of shares under asr
    		                                       0 0                  
      proceeds from sales and redemptions of trading securities
    		                                        49,130,000                  
      purchases and redemptions of short-term investments
    		                                        187,828,000                  
      sales and redemptions of other assets
    		                                                          
      less: change in cash of business held for sale
    		                                        0                  
      sales of other assets
    		                                         333,000 632,000                
      sales (purchases) and redemptions of short-term investments
    		                                          106,728,000                
      change in cash of business held for sale
    		                                          3,240,000                
      income taxes (received) paid
    		                                          -41,000      -15,674,000          
      net premiums earned
    		                                          1,007,000                
      net investment income
    		                                          9,153,000 31,345,000               
      net gains on investments and other financial instruments
    		                                          13,668,000                
      change in fair value of derivative instruments
    		                                          2,625,000 -28,576,000               
      total revenues
    		                                          26,453,000 196,746,000               
      benefit from losses
    		                                          502,000 321,684,000               
      policy acquisition costs
    		                                          -191,000 5,739,000               
      other operating expense
    		                                          4,107,000                
      total expenses
    		                                          4,418,000 320,627,000               
      equity in net income of affiliates
    		                                          -13,000                
      income from operations of businesses held for sale
    		                                          22,022,000                
      loss on classification as held for sale
    		                                          -13,930,000                
      income tax provision
    		                                          7,562,000                
      income from discontinued operations, net of tax
    		                                          530,000                
      proceeds from sales of hybrid securities
    		                                           39,620,000 116,018,000 89,188,000 60,845,000 138,334,000 61,977,000          
      proceeds from redemptions of hybrid securities
    		                                           9,304,000 13,675,000 15,672,000 10,025,000 14,179,000 28,767,000          
      purchases of hybrid securities
    		                                           -58,790,000 -108,336,000 -134,618,000 -100,405,000 -141,688,000 -92,344,000          
      (purchases) sales of short-term investments
    		                                           -334,592,000   -593,201,000     -67,921,000       
      purchases of other invested assets
    		                                           -816,000 -989,000 -260,000   -6,167,000          
      proceeds from termination of interest-rate swap
    		                                            0 12,800,000             
      decrease in cash
    		                                           -1,604,000         3,205,000      
      income taxes received
    		                                           -226,128,000  -250,337,000             
      supplemental disclosures of non-cash items:
    		                                                          
      stock-based compensation, net of tax
    		                                           1,055,000 2,174,000 2,999,000 -2,255,000 536,000 3,658,000          
      net premiums written—insurance
    		                                           161,959,000               
      net premiums earned—insurance
    		                                           177,883,000               
      net gains on other financial instruments
    		                                           12,276,000               
      other income
    		                                           3,818,000               
      benefit from premium deficiency
    		                                           -48,184,000               
      other operating expenses
    		                                           35,694,000               
      interest expense
    		                                           5,694,000               
      pretax income
    		                                           -123,881,000               
      income tax benefit
    		                                           -35,084,000               
      cash and investments
    		                                           4,141,601,000               
      total assets
    		                                           5,241,881,000               
      reserve for losses and loss adjustment expenses
    		                                           3,116,553,000               
      derivative liabilities
    		                                           127,472,000               
      sales (purchases) of short-term investments
    		                                            142,577,000 120,915,000            42,563,000 
      net cash from (used) in investing activities
    		                                            90,471,000 34,484,000             
      proceeds from issuance of common stock under incentive plans
    		                                              239,000 9,037,000 16,005,000 5,641,000 5,854,000 11,811,000 14,094,000 3,071,000 9,168,000 886,000 4,264,000 8,265,000 
      purchase of treasury stock
    		                                              0 -18,843,000 -3,980,000 -60,626,000 -61,687,000 -60,235,000 -127,107,000 -72,763,000 -293,640,000 -72,364,000 -23,143,000 -20,171,000 
      sale (purchase) of investment in affiliates
    		                                                          
      loan to affiliate
    		                                                          
      proceeds from other borrowings
    		                                                          
      balance sheets
    		                                                          
      cost
    		                                                100 1,400 -15,700 79,800       
      fair value
    		                                              0 -200 400 -2,800 -22,100 115,800 10,600 -15,700 95,100 -11,400 8,000 52,300 
      derivative financial contracts
    		                                                          
      notional value
    		                                              582,000 -4,840,000 60,885,000 4,174,000 6,017,000 36,509,000 5,250,000 1,707,000 12,593,000 1,000,000 2,000,000 9,000,000 
      gross unrealized gains
    		                                              -52,600 -42,700 124,600 4,900 -8,400 118,300 19,800 -1,200 66,700 7,600 10,200 57,300 
      gross unrealized losses
    		                                              593,900 76,700 34,100 1,600 12,000 22,700 -20,300 -10,800 55,400 -15,200 6,200 77,900 
      net unrealized gains
    		                                              -646,500 -119,400 90,500 3,300 -20,400 95,600 40,100 9,600 11,300    
      sales (purchases) of other invested assets
    		                                                          
      derivative financial guaranty contracts
    		                                                          
      purchases of short-term investments
    		                                                -92,933,000          
      other
    		                                                   365,000 1,407,000 -1,013,000 748,000 116,000   
      sales of short-term investments
    		                                                      234,562,000    
      (purchases) sales of other invested assets
    		                                                          
      (purchase) sale of investment in affiliates
    		                                                          
      net cash (used in)/provided by investing activities
    		                                                   -69,270,000       
      debt issuance costs
    		                                                    -334,000      
      redemption of long-term debt
    		                                                    -219,337,000 0 -663,000    
      sales of other invested assets
    		                                                    745,000   151,000 -306,000 3,370,000 
      net cash from by investing activities
    		                                                          
      stock-based compensation
    		                                                  1,782,000 3,926,000       
      purchase of other invested assets
    		                                                          
      investments in affiliates
    		                                                       0   
      proceeds from sales of investment in affiliates
    		                                                          
      net cash used by financing activities
    		                                                    -331,641,000 175,664,000 -288,979,000    
      balance sheet
    		                                                          
      amortized cost
    		                                                    -1,300 -4,900 72,300 -100 9,200 42,500 
      (purchases)/sales of short-term investments
    		                                                          
      distributions from affiliates
    		                                                     8,750,000 60,375,000 0 40,750,000 41,550,000 
      repurchase of warrants
    		                                                     0 -2,075,000    
      proceeds from sales of fixed maturity investments available for sale
    		                                                      61,211,000 227,730,000 249,141,000 363,205,000 
      proceeds from redemptions of fixed maturity investments available for sale
    		                                                      39,630,000 48,372,000 49,468,000 62,718,000 
      proceeds from redemptions of fixed maturity investments held to maturity
    		                                                      8,946,000 47,047,000 26,546,000 12,304,000 
      purchases of fixed maturity investments available for sale
    		                                                      -187,542,000 -309,179,000 -431,500,000 -554,495,000 
      (purchases)/sales of other invested assets
    		                                                      -28,000    
      net cash provided (used) in investing activities
    		                                                      215,360,000    
      disposals of property and equipment
    		                                                          
      repayment of short-term debt
    		                                                          
      capital issuance costs
    		                                                          
      net cash (used in)/provided by financing activities
    		                                                       -73,450,000 -20,854,000 -13,791,000 
      income taxes (paid)/received
    		                                                        -95,575,000 -2,007,000 
      net unrealized losses
    		                                                        4,000 -20,600 
      
    		                                                          
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.