Segment Reporting |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Segment Reporting [Abstract] | |
| Segment Reporting | Segment Reporting We manage our business activities on a consolidated basis under a single reportable operating segment and our Chief Executive Officer (CEO) serves as our Chief Operating Decision Maker (CODM). Our Mortgage Insurance segment provides private mortgage insurance and ancillary loan review services, and our CODM evaluates our performance and allocates resources based on our consolidated financial results, including consolidated revenue, expenses, net income, assets and shareholders' equity. Our CODM reviews these financial metrics to gauge our performance and make strategic decisions, such as whether to reinvest profits in our Mortgage Insurance segment or return capital to shareholders. The significant revenue and expense categories that are regularly reviewed by our CODM align with those presented on our condensed consolidated statements of operations and comprehensive income, and segment assets align with total assets as those presented on our condensed consolidated balance sheets. The accounting policies governing our Mortgage Insurance segment are the same as those described in Item 8, “Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - Note 2 - Summary of Accounting Principles” of our 2024 10-K. Investment income, also referred to as interest revenue, is reported within “Net Investment Income” on our condensed consolidated statements of operations and was $25.3 million and $49.3 million for the three and six months ended June 30, 2025, respectively, and $21.0 million and $40.7 million for the three and six months ended June 30, 2024, respectively. Amortization and depreciation expense for software, equipment, and leasehold improvements was $2.8 million and $5.7 million for the three and six months ended June 30, 2025, respectively, and $3.0 million and $6.0 million for the three and six months ended June 30, 2024, respectively.
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