\n\nKey Financial Highlights<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \nQuarter ended<\/b><\/p><\/td><\/tr>\n\n\n($ in millions, except per-share amounts)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nMarch 31,\n2026 (1)<\/sup><\/b><\/p><\/td>\n\u00a0<\/p><\/td> | \nDecember 31,\n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \nMarch 31,\n2025<\/b><\/p><\/td><\/tr>\n\n\nConsolidated<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal revenues<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$466<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$301<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$295<\/p><\/td><\/tr>\n | \n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$403<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$237<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$234<\/p><\/td><\/tr>\n | \n\nNet investment income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$70<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$63<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$61<\/p><\/td><\/tr>\n | \n\nNet income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$124<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$155<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$145<\/p><\/td><\/tr>\n | \n\nNet income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$129<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$159<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$152<\/p><\/td><\/tr>\n | \n\nDiluted net income from continuing operations per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$0.93<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1.15<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1.03<\/p><\/td><\/tr>\n | \n\nPretax income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$174<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$201<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$199<\/p><\/td><\/tr>\n | \n\nAdjusted pretax operating income (2)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n$232<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$204<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$201<\/p><\/td><\/tr>\n | \n\nAdjusted diluted net operating income per share (2)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n$1.27<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1.16<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1.04<\/p><\/td><\/tr>\n | \n\nReturn on equity from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10.8%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n13.5%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n13.2%<\/p><\/td><\/tr>\n | \n\nAdjusted net operating return on equity (2)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n14.7%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n13.6%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n13.4%<\/p><\/td><\/tr>\n | \n\nSegment information (3)<\/sup><\/b><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCombined ratio - Mortgage (4)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n30.2%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28.1%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n27.8%<\/p><\/td><\/tr>\n | \n\nCombined ratio - Specialty (4)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n85.3%<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td><\/tr>\n | \n\nNew insurance written - Mortgage<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$13,490<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$15,850<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$9,489<\/p><\/td><\/tr>\n | \n\nGross premiums written - Specialty<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$162<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td><\/tr>\n<\/table> \n\n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nAs of<\/b><\/p><\/td><\/tr>\n\n\n($ in millions, except per-share amounts)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nMarch 31,\n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \nDecember 31,\n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \nMarch 31,\n2025<\/b><\/p><\/td><\/tr>\n\n\nConsolidated<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBook value per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$35.67<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$35.29<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$32.48<\/p><\/td><\/tr>\n | \n\nAccumulated other comprehensive income (loss) value per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$(1.94)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$(1.64)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$(2.09)<\/p><\/td><\/tr>\n | \n\nAvailable holding company liquidity (5)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n$391<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1,834<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$834<\/p><\/td><\/tr>\n | \n\nTotal investments<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$7,040<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$5,987<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$5,725<\/p><\/td><\/tr>\n | \n\nAssets held for sale<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$280<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$474<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1,517<\/p><\/td><\/tr>\n | \n\nLiabilities held for sale<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$219<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$364<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1,312<\/p><\/td><\/tr>\n | \n\nSegment information<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPMIERs Available Assets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$5,445<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$5,384<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$6,022<\/p><\/td><\/tr>\n | \n\nPMIERs excess Available Assets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1,596<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$1,560<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$2,094<\/p><\/td><\/tr>\n | \n\nPrimary mortgage insurance in force<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$281,718<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$282,519<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$274,159<\/p><\/td><\/tr>\n | \n\nPercentage of primary loans in default<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2.51%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2.56%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2.33%<\/p><\/td><\/tr>\n<\/table> \n\n\nN\/A \u2013 Not applicable<\/p><\/td><\/tr>\n | \n\n(1)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nIncludes Inigo results from the date of acquisition, February 2, 2026.<\/p><\/td><\/tr>\n | \n\n(2)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nAdjusted results, including adjusted pretax operating income, adjusted diluted net operating income per share and adjusted net operating return on equity, are on a continuing operations basis and are non-GAAP financial measures on a consolidated basis. For definitions and reconciliations of these measures to the comparable GAAP measures, see Exhibits F and G.<\/p><\/td><\/tr>\n | \n\n(3)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSee Exhibit E for additional segment information.<\/p><\/td><\/tr>\n | \n\n(4)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nCalculated as the sum of each segment\u2019s reported provision for losses and operating expenses (which consist of amortization of policy acquisition costs and other operating expenses) expressed as a percentage of net premiums earned. See Exhibit E for additional details on the key ratios by segment.<\/p><\/td><\/tr>\n | \n\n(5)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nRepresents Radian Group\u2019s available liquidity without considering available capacity under its unsecured revolving credit facility.<\/p><\/td><\/tr>\n<\/table> \nBook value per share at March 31, 2026, was $35.67 compared to $35.29 at December 31, 2025, and $32.48 at March 31, 2025. This represents a 10% growth in book value per share at March 31, 2026, as compared to March 31, 2025, and includes accumulated other comprehensive income (loss) of $(1.94) per share as of March 31, 2026, and $(2.09) per share as of March 31, 2025. Changes in accumulated other comprehensive income (loss) are primarily from net unrealized gains or losses on investments as a result of decreases or increases, respectively, in market interest rates.<\/p> \n\u201cThis quarter marks a defining milestone for Radian, our first as a global multi-line specialty insurer following the successful acquisition of Inigo. By uniting two world-class insurance businesses, we have created a more diversified and resilient enterprise, as reflected in our exceptional first quarter results,\u201d said Radian Chief Executive Officer Rick Thornberry. \u201cWith a strong capital position, 22% year-over-year growth in adjusted diluted net operating income per share and adjusted operating return on equity increasing to 14.7% in the quarter, we are demonstrating the power of our strategy. We are confident in our direction, energized by the opportunities ahead, and committed to delivering long-term value for our stockholders.\u201d<\/p> \nFIRST QUARTER RESULTS OF OPERATIONS<\/p> \nMortgage<\/b><\/p> \nThe Mortgage segment reported adjusted pre-tax operating income of $221 million for the quarter. Key drivers of Mortgage segment\u2019s first quarter results include:<\/p> \n- \nPrimary Insurance in Force of $282 billion, an increase of 3% year-over-year\n
\n- \nNew Insurance Written of $13.5 billion, an increase of 42% year-over-year<\/li>\n
- \nAnnualized persistency for the three months ended March 31, 2026, of 81.3%<\/li>\n<\/ul><\/li>\n
- \nNet premiums earned grew to $238 million, with a stable in-force portfolio premium yield of 37.9 basis points<\/li>\n
- \nProvision for losses of $24 million, which includes favorable reserve development on prior period defaults of $36 million<\/li>\n
- \nMortgage segment combined ratio of 30.2%, including an expense ratio of 20.0%<\/li>\n
- \nSee Exhibit E for additional segment information<\/li>\n<\/ul>
\nSpecialty<\/b><\/p> \nThe Specialty segment reported adjusted pre-tax operating income of $40 million for the quarter, reflecting Inigo\u2019s operations for the period post-acquisition, beginning February 2, 2026. Key drivers of Specialty segment\u2019s results for the period since acquisition include:<\/p> \n- \nTotal gross premiums written of $162 million\n
\n- \nInsurance gross premiums written of $82 million<\/li>\n
- \nReinsurance gross premiums written of $80 million<\/li>\n<\/ul><\/li>\n
- \nNet premiums earned of $164 million<\/li>\n
- \nProvision for losses of $86 million, which includes favorable reserve development on prior year loss reserves of $13 million<\/li>\n
- \nSpecialty segment combined ratio of 85.3%<\/li>\n
- \nSee Exhibit E for additional segment information and Exhibit J for supplemental information related to Inigo\u2019s financial results for the month ended January 31, 2026, prior to the acquisition.<\/li>\n<\/ul>
\nCAPITAL AND LIQUIDITY UPDATE<\/p> \nRadian Group<\/b><\/p>\n- \nIn January 2026, Radian Group drew $200 million on its unsecured revolving credit facility. The company repaid $50 million of this borrowing during the first quarter and expects to repay this borrowing in full during 2026.<\/li>\n
- \nOn February 2, 2026, Radian Group completed its strategic acquisition of Inigo Limited (\u201cInigo\u201d), a Lloyd\u2019s of London (\u201cLloyd\u2019s\u201d) specialty insurer. Radian funded the acquisition from Radian Group\u2019s available liquidity sources.<\/li>\n
- \nDuring the first quarter of 2026, the company repurchased 1.5 million shares of Radian Group common stock at a total cost of $50 million. In addition, in April the company repurchased 1.9 million shares of Radian Group common stock at a total cost of $65 million.\n
\n- \nThe Company has fully utilized the authority under its $900 million share repurchase authorization that was scheduled to expire on June 30, 2026. As a result, future repurchases will be made pursuant to the $750 million authorization approved by Radian Group\u2019s board of directors in May 2025, which is scheduled to expire in December 2027. Following the April share repurchases, purchase authority of up to $748 million remained available under this authorization.<\/li>\n<\/ul><\/li>\n
- \nRadian Group paid a dividend on its common stock in the amount of $0.255 per share, totaling $35 million, in the first quarter of 2026.<\/li>\n
- \nRadian Group\u2019s available liquidity was $391 million as of March 31, 2026. In addition, Radian Group maintained $350 million of undrawn capacity under its unsecured revolving credit facility as of March 31, 2026.<\/li>\n<\/ul>
\nRadian Guaranty<\/b><\/p>\n- \nRadian Guaranty paid an ordinary dividend to Radian Group of $140 million in the first quarter of 2026.<\/li>\n
- \nRadian Guaranty expects to pay over $600 million in ordinary dividends to Radian Group during 2026, subject to prior approval from the Pennsylvania Insurance Department.<\/li>\n
- \nAt March 31, 2026, Radian Guaranty\u2019s Available Assets under PMIERs totaled $5.4 billion, resulting in PMIERs excess Available Assets of $1.6 billion.<\/li>\n<\/ul>
\nSTRATEGIC UPDATE<\/p> \nDiscontinued Operations<\/b><\/p>\n- \nAs an update to the divestiture plan previously announced in 2025, during the first quarter of 2026 Radian made the decision to wind down its Mortgage Conduit business following an evaluation of divestment opportunities. The Company is currently engaged in ongoing discussions with prospective buyers for its Title and Real Estate Services businesses, and continues to expect to complete its divestiture plans for these businesses by the end of the third quarter of 2026.<\/li>\n
- \nDuring the first quarter of 2026, Radian Group received $46 million in distributions from its businesses held for sale. These distributions reduced the net carrying value of the assets and liabilities held for sale related to these businesses to $61 million as of March 31, 2026, including the impact of estimated costs related to the sales.<\/li>\n
- \nAdditional details regarding discontinued operations may be found in Exhibit D.<\/li>\n<\/ul>
\nCONFERENCE CALL<\/p> \nRadian will discuss first quarter 2026 financial results in a conference call tomorrow, Thursday, May 7, 2026, at 11:00 a.m. Eastern time. The conference call will be webcast live on the company\u2019s website at www.radian.com\/for-investors\/investor-events<\/a> or at www.radian.com<\/a>. The webcast is listen-only. Those interested in participating in the question-and-answer session should follow the conference call dial-in instructions below.<\/p>\nThe call may be accessed via telephone by registering for the call here<\/a> to receive the dial-in numbers and unique PIN. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).<\/p>\nA digital replay of the webcast will be available on Radian\u2019s website approximately two hours after the live broadcast ends for a period of one year at www.radian.com\/for-investors\/investor-events<\/a>.<\/p>\nIn addition to the information provided in the company\u2019s earnings news release, other statistical and financial information, which is expected to be referred to during the conference call, will be available on Radian\u2019s website at www.radian.com<\/a>, under Investors.<\/p>\nNON-GAAP FINANCIAL MEASURES<\/p> \nRadian believes that adjusted pretax operating income (loss), adjusted diluted net operating income (loss) per share and adjusted net operating return on equity, each from continuing operations (non-GAAP measures on a consolidated basis) facilitate evaluation of the company\u2019s fundamental financial performance and provide relevant and meaningful information to investors about the ongoing operating results of the company. These measures are not recognized in accordance with accounting principles generally accepted in the United States of America (GAAP) and should not be considered in isolation or viewed as substitutes for GAAP measures of performance. The measures described below have been established in order to increase transparency for the purpose of evaluating the company\u2019s operating trends and enabling more meaningful comparisons with Radian\u2019s competitors.<\/p> \nAdjusted pretax operating income (loss) is defined as GAAP pretax income (loss) from continuing operations excluding the effects of: (i) net gains (losses) on financial instruments and foreign exchange, (ii) amortization of other acquired intangible assets, (iii) other purchase accounting adjustments, net, and (iv) acquisition-related expenses and other non-operating items, such as impairment of internal-use software and other long-lived assets and gains (losses) on extinguishment of debt, among others. Adjusted diluted net operating income (loss) per share is calculated by dividing adjusted pretax operating income (loss), net of taxes computed using the company\u2019s effective tax rate, by the sum of the weighted average number of common shares outstanding and all dilutive potential common shares outstanding. Adjusted net operating return on equity is calculated by dividing annualized adjusted pretax operating income (loss), net of taxes computed using the company\u2019s effective tax rate, by average stockholders\u2019 equity, based on the average of the beginning and ending balances for each period presented.<\/p> \nSee Exhibit F or Radian\u2019s website for a description of these items, as well as Exhibit G for reconciliations to the most comparable GAAP measures.<\/p> \nABOUT RADIAN<\/p> \nRadian Group Inc. (NYSE: RDN) is a trusted, global multi-line specialty insurer that helps businesses navigate risk with confidence. Built on financial strength and disciplined risk management, Radian brings clarity to complex risk decisions through its proprietary view of risk and a global perspective. Visit www.radian.com<\/a> to learn how our collaborative and customer-centric culture transforms risk into a world of opportunity.<\/p>\nFINANCIAL RESULTS AND SUPPLEMENTAL INFORMATION CONTENTS (Unaudited)<\/p> \n\n\nExhibit A:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nCondensed Consolidated Statements of Operations<\/p><\/td><\/tr>\n | \n\nExhibit B:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nNet Income Per Share<\/p><\/td><\/tr>\n | \n\nExhibit C:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nCondensed Consolidated Balance Sheets<\/p><\/td><\/tr>\n | \n\nExhibit D:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nCondensed Consolidated Statements of Operations Detail<\/p><\/td><\/tr>\n | \n\nExhibit E:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSegment Information<\/p><\/td><\/tr>\n | \n\nExhibit F:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nDefinition of Consolidated Non-GAAP Financial Measures<\/p><\/td><\/tr>\n | \n\nExhibit G:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nNon-GAAP Financial Measure Reconciliations<\/p><\/td><\/tr>\n | \n\nExhibit H:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nMortgage Supplemental Information - New Insurance Written<\/p><\/td><\/tr>\n | \n\nExhibit I:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nMortgage Supplemental Information - Primary Insurance in Force and Risk in Force<\/p><\/td><\/tr>\n | \n\nExhibit J:<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSupplemental Information - Inigo Adjusted Pretax Operating Income for January 2026 (Pre-Acquisition)<\/p><\/td><\/tr>\n<\/table> \n\n\nRadian Group Inc. and Subsidiaries<\/b><\/p><\/td><\/tr>\n\n\nCondensed Consolidated Statements of Operations (1)<\/sup><\/b><\/p><\/td><\/tr>\n\n\nExhibit A<\/b><\/p><\/td><\/tr>\n\n| \u00a0<\/td>\n<\/tr>\n | \n\n(In thousands, except per-share amounts)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \nQtr 1 (2)<\/sup><\/b><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 4<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 3<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 2<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRevenues<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n402,528<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n237,192<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n237,103<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n233,526<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n234,044<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet investment income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n69,698<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n62,683<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63,399<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n61,672<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n61,010<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet gains (losses) on financial instruments and foreign exchange<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(8,879<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(1,159<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,285<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,851<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(2,001<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nOther income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,990<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,796<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,399<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,502<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,782<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal revenues<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n466,337<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n300,512<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n303,186<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n298,551<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n294,835<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nExpenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nProvision for losses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n107,933<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n21,588<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,886<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n11,954<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n15,340<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAmortization of deferred policy acquisition costs and value of business acquired (\u201cVOBA\u201d)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n62,069<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,280<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n7,166<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n7,205<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,388<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther operating expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n98,169<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n56,417<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n62,256<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n69,178<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n57,908<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInterest expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n20,594<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,189<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,184<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,428<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n16,489<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAmortization of other acquired intangible assets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,909<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n292,674<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n99,474<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n104,492<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n105,765<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n96,125<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPretax income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n173,663<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n201,038<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n198,694<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n192,786<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n198,710<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome tax provision<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n44,197<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n42,236<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n45,892<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n38,301<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n46,620<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n129,466<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n158,802<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n152,802<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n154,485<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n152,090<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome (loss) from discontinued operations, net of tax<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(5,373<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(3,959<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(11,359<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(12,689<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(7,532<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNet income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n124,093<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n154,843<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n141,443<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n141,796<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n144,558<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDiluted net income per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.93<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.15<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.11<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.11<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.03<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome (loss) from discontinued operations, net of tax<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.04<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.03<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.08<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.09<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.05<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nDiluted net income per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.89<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.12<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.03<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.02<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.98<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n\n\n(1)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSee Exhibit D for additional details.<\/p><\/td><\/tr>\n | \n\n(2)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nIncludes Inigo results from the date of acquisition, February 2, 2026.<\/p><\/td><\/tr>\n<\/table> \n\n\nRadian Group Inc. and Subsidiaries<\/b><\/p><\/td><\/tr>\n\n\nNet Income Per Share<\/b><\/p><\/td><\/tr>\n\n\nExhibit B<\/b><\/p><\/td><\/tr>\n\n| \u00a0<\/td>\n<\/tr>\n | \n\nThe calculation of basic and diluted net income per share is as follows.<\/p><\/td><\/tr>\n | \n| \u00a0<\/td>\n<\/tr>\n | \n\n(In thousands, except per-share amounts)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \nQtr 1 (1)<\/sup><\/b><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 4<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 3<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 2<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n129,466<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n158,802<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n152,802<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n154,485<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n152,090<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome (loss) from discontinued operations, net of tax<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(5,373<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(3,959<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(11,359<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(12,689<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(7,532<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNet income\u2014basic and diluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n124,093<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n154,843<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n141,443<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n141,796<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n144,558<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAverage common shares outstanding\u2014basic<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n137,004<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n137,032<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n137,003<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n137,376<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n145,618<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDilutive effect of share-based compensation arrangements (2)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,481<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,218<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n923<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n984<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,109<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAdjusted average common shares outstanding\u2014diluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n138,485<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n138,250<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n137,926<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n138,360<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n147,727<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBasic<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.94<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.16<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.12<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.12<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.04<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome (loss) from discontinued operations, net of tax<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.04<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.03<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.08<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.09<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.05<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nBasic net income per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.90<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.13<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.04<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.03<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.99<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDiluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income from continuing operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.93<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.15<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.11<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.11<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.03<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome (loss) from discontinued operations, net of tax<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.04<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.03<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.08<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.09<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(0.05<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nDiluted net income per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.89<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.12<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.03<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.02<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.98<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n\n\n(1)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nIncludes Inigo results from the date of acquisition, February 2, 2026.<\/p><\/td><\/tr>\n | \n\n(2)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nThe following number of shares of our common stock equivalents issued under our share-based compensation arrangements are not included in the calculation of diluted net income per share because their effect would be anti-dilutive.<\/p><\/td><\/tr>\n<\/table> \n\n| \n | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n| \n | \n(In thousands)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 4<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 3<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 2<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n| \n | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n| \n | \nShares of common stock equivalents<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n24<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n\n\nRadian Group Inc. and Subsidiaries<\/b><\/p><\/td><\/tr>\n\n\nCondensed Consolidated Balance Sheets<\/b><\/p><\/td><\/tr>\n\n\nExhibit C<\/b><\/p><\/td><\/tr>\n\n| \u00a0<\/td>\n<\/tr>\n | \n\n(In thousands, except per-share amounts)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nMar 31,\n<\/b>2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nDec 31,\n<\/b>2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nSep 30,\n<\/b>2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nJun 30,\n<\/b>2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nMar 31,\n<\/b>2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAssets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInvestments<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n7,040,322<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n5,987,318<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n5,852,034<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n5,680,489<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n5,725,077<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCash<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n55,445<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n24,829<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n15,258<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n19,013<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n16,026<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRestricted cash<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n32,534<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n11<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n29<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAccrued investment income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n51,497<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n40,285<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n43,031<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n43,467<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n41,973<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPremiums and other receivables<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n665,910<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n120,197<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n128,765<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n125,744<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n121,052<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nReinsurance recoverable<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n356,521<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n48,806<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n44,837<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n41,653<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n38,188<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDeferred policy acquisition costs and VOBA<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n188,673<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n19,018<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n16,711<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,248<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,855<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nGoodwill and other acquired intangible assets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n420,738<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPrepaid federal income taxes<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,056,329<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,056,329<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,012,629<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n997,805<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n921,080<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther assets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n504,347<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n351,337<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n369,013<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n411,198<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n389,255<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAssets held for sale<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n280,060<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n474,268<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n722,514<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,267,056<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,517,393<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal assets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n10,652,376<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n8,122,397<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n8,204,803<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n9,603,701<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n8,787,928<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLiabilities and stockholders\u2019 equity<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nReserve for losses and loss adjustment expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1,822,619<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n399,946<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n387,650<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n377,231<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n369,090<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nUnearned premiums<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n856,058<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n159,341<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n166,165<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n171,901<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n178,931<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nShort-term borrowings<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n494,730<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n33,320<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n50,679<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n88,963<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n22,400<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLong-term borrowings<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n773,946<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,075,795<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,076,973<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,076,325<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,075,687<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet deferred tax liability<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n978,540<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n942,193<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n910,256<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n864,421<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n826,692<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther liabilities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n697,989<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n366,470<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n410,232<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n461,335<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n415,986<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLiabilities held for sale<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n219,233<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n363,818<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n550,399<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,070,844<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,312,316<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal liabilities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,843,115<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,340,883<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,552,354<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,111,020<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,201,102<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCommon stock<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n156<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n157<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n157<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n157<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n162<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTreasury stock<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(991,427<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(989,745<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(989,352<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(988,764<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(969,396<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nAdditional paid-in capital<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n842,235<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n861,211<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n855,320<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n847,399<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,048,738<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRetained earnings<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,220,411<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,132,050<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,012,742<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,906,830<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,802,038<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAccumulated other comprehensive income (loss)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(262,114<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(222,159<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(226,418<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(272,941<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(294,716<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nTotal stockholders\u2019 equity<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,809,261<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,781,514<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,652,449<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,492,681<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,586,826<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal liabilities and stockholders\u2019 equity<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n10,652,376<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n8,122,397<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n8,204,803<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n9,603,701<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n8,787,928<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nShares outstanding<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n134,845<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n135,498<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n135,473<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n135,395<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n141,220<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBook value per share<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n35.67<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n35.29<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n34.34<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n33.18<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n32.48<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nHolding company debt-to-capital ratio (1)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n20.2<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18.3<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18.7<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n19.2<\/p><\/td> | \n%<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18.9<\/p><\/td> | \n%<\/p><\/td><\/tr>\n<\/table> \n\n\n(1)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nCalculated as the aggregate carrying value of our senior notes, which were issued and are owed by our holding company, and revolving credit facility, divided by the carrying value of our senior notes, revolving credit facility and stockholders\u2019 equity. This holding company ratio does not include the effects of amounts owed by our subsidiaries related to other borrowings.<\/p><\/td><\/tr>\n<\/table> \n\n\nRadian Group Inc. and Subsidiaries<\/b><\/p><\/td> | \n<\/tr>\n | \n\nCondensed Consolidated Statements of Operations Detail<\/b><\/p><\/td> | \n<\/tr>\n | \n\nExhibit D (page 1 of 4)<\/b><\/p><\/td> | \n<\/tr>\n | \n| \u00a0<\/td>\n | \u00a0<\/td>\n<\/tr>\n | \n\nNet Premiums Earned<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n(In thousands)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 4<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 3<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 2<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nMortgage<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDirect<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n268,902<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n268,465<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n266,093<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n262,044<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n261,911<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCeded (1)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(30,725<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(31,273<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(28,990<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(28,518<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(27,867<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n238,177<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n237,192<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n237,103<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n233,526<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n234,044<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nSpecialty (2)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDirect<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n108,987<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAssumed<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n94,498<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCeded<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(39,134<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n164,351<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDirect<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n377,889<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n268,465<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n266,093<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n262,044<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n261,911<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAssumed<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n94,498<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nN\/A<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCeded<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(69,859<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(31,273<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(28,990<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(28,518<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(27,867<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nTotal net premiums earned<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n402,528<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n237,192<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n237,103<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n233,526<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n234,044<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n\n\n(1)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nIncludes profit commission under our Mortgage segment\u2019s QSR Program.<\/p><\/td><\/tr>\n | \n\n(2)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nIncludes Inigo results from the date of acquisition, February 2, 2026.<\/p><\/td><\/tr>\n<\/table> \n\n\nNet Investment Income<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n(In thousands)<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1 (1)<\/sup><\/b><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 4<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 3<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 2<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nQtr 1<\/b><\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nFixed maturities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n60,370<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n51,655<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n57,614<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n57,354<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n56,649<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nEquity securities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,160<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,798<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,446<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,634<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,145<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nShort-term investments<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n9,322<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10,362<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,503<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,842<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,508<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther (2)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(1,154<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(1,132<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(1,164<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(1,158<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(1,292<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNet investment income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n69,698<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n62,683<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n63,399<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n61,672<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n61,010<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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