Radian Group Inc. Files Q3 2024 10-Q

TL;DR

Radian Group's Q3 10-Q is in: Investments look solid, notes due 2029 are on the books.

AI Summary

Radian Group Inc. filed its 10-Q for the period ending September 30, 2024. The filing details their financial position, including investments in fixed maturities and residential mortgage-backed securities, with fair value measurements. It also references their Senior Notes due in 2029 and their subsidiary, Radian Guaranty.

Why It Matters

This filing provides investors with an update on Radian Group's financial health and investment portfolio, crucial for assessing the company's stability and future performance.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

• 2024-09-30 — Reporting Date (End of the third quarter for 2024 financial reporting.)
• 2023-09-30 — Prior Year Reporting Date (End of the third quarter for 2023 financial reporting, for comparison.)
• 2023-12-31 — Prior Year End Reporting Date (End of the fiscal year 2023, for comparison.)

Key Players & Entities

• RADIAN GROUP INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241107 (date) — Filing Date
• rdn:SeniorNotesDue2029Member (financial_instrument) — Senior Notes due 2029
• rdn:RadianGuarantyMember (company) — Subsidiary

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share RDN New York St
• $450 million — nsecured senior notes due October 2024 ($450 million original principal amount) Senior Not
• $525 million — unsecured senior notes due March 2025 ($525 million original principal amount, of which the
• $625 million — 0% unsecured senior notes due May 2029 ($625 million original principal amount) 6 Term

Filing Documents

• rdn-20240930.htm (10-Q) — 6899KB
• rdn-ex31.htm (EX-31) — 22KB
• rdn-ex32.htm (EX-32) — 9KB
• img192100695_0.jpg (GRAPHIC) — 71KB
• 0000950170-24-122809.txt ( ) — 26329KB
• rdn-20240930.xsd (EX-101.SCH) — 1843KB
• rdn-20240930_htm.xml (XML) — 7334KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) 10 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 47 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 70 Item 4

Controls and Procedures

Controls and Procedures 71

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 72 Item 1A

Risk Factors

Risk Factors 72 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 72 Item 5 Other Information 73 Item 6 Exhibits 74

Signatures

Signatures 75 2 Glossary of Abbreviat ions and Acronyms for Selected References The following list defines various abbreviations and acronyms used throughout this report, including the Condensed Consolidated Financial Statements, the Notes to Unaudited Condensed Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations. A number of cross-references to additional information included throughout this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31, 2023 ("2023 Form 10-K") are also utilized throughout this report, to assist readers seeking additional information related to a particular subject. Term Definition 2012 QSR Agreements Collectively, the quota share reinsurance agreements entered into with a third-party reinsurance provider in the second and fourth quarters of 2012 to cede on a combined basis a portion of NIW originated between the fourth quarter of 2011 and the fourth quarter of 2014 2016 Single Premium QSR Agreement Quota share reinsurance agreement entered into with a panel of third-party reinsurance providers in the first quarter of 2016 and subsequently amended in the fourth quarter of 2017 to cede a portion of Single Premium NIW originated between January 1, 2012, and December 31, 2017 2018 Single Premium QSR Agreement Quota share reinsurance agreement entered into with a panel of third-party reinsurance providers in October 2017 to cede a portion of Single Premium NIW originated between January 1, 2018, and December 31, 2019 2020 Single Premium QSR Agreement Quota share reinsurance agreement entered into with a panel of third-party reinsurance providers in January 2020 to cede a portion of Single Premium NIW originated between January 1, 2020, and December 31, 2021 2022 QSR Agreement Quota share reinsurance arrangement entered into with a panel of third-party reinsurance providers to cede, starting July

View Full Filing

View this 10-Q filing on SEC EDGAR