000089092612/312023Q3FALSEhttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilities00008909262023-01-012023-09-3000008909262023-11-01xbrli:shares00008909262023-09-30iso4217:USD00008909262022-12-31iso4217:USDxbrli:shares00008909262023-07-012023-09-3000008909262022-07-012022-09-3000008909262022-01-012022-09-300000890926us-gaap:CommonStockMember2023-06-300000890926us-gaap:CommonStockMember2022-06-300000890926us-gaap:CommonStockMember2022-12-310000890926us-gaap:CommonStockMember2021-12-310000890926us-gaap:CommonStockMember2023-07-012023-09-300000890926us-gaap:CommonStockMember2022-07-012022-09-300000890926us-gaap:CommonStockMember2023-01-012023-09-300000890926us-gaap:CommonStockMember2022-01-012022-09-300000890926us-gaap:CommonStockMember2023-09-300000890926us-gaap:CommonStockMember2022-09-300000890926us-gaap:TreasuryStockCommonMember2023-06-300000890926us-gaap:TreasuryStockCommonMember2022-06-300000890926us-gaap:TreasuryStockCommonMember2022-12-310000890926us-gaap:TreasuryStockCommonMember2021-12-310000890926us-gaap:TreasuryStockCommonMember2023-07-012023-09-300000890926us-gaap:TreasuryStockCommonMember2022-07-012022-09-300000890926us-gaap:TreasuryStockCommonMember2023-01-012023-09-300000890926us-gaap:TreasuryStockCommonMember2022-01-012022-09-300000890926us-gaap:TreasuryStockCommonMember2023-09-300000890926us-gaap:TreasuryStockCommonMember2022-09-300000890926us-gaap:AdditionalPaidInCapitalMember2023-06-300000890926us-gaap:AdditionalPaidInCapitalMember2022-06-300000890926us-gaap:AdditionalPaidInCapitalMember2022-12-310000890926us-gaap:AdditionalPaidInCapitalMember2021-12-310000890926us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300000890926us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300000890926us-gaap:AdditionalPaidInCapitalMember2023-01-012023-09-300000890926us-gaap:AdditionalPaidInCapitalMember2022-01-012022-09-300000890926us-gaap:AdditionalPaidInCapitalMember2023-09-300000890926us-gaap:AdditionalPaidInCapitalMember2022-09-300000890926us-gaap:RetainedEarningsMember2023-06-300000890926us-gaap:RetainedEarningsMember2022-06-300000890926us-gaap:RetainedEarningsMember2022-12-310000890926us-gaap:RetainedEarningsMember2021-12-310000890926us-gaap:RetainedEarningsMember2023-07-012023-09-300000890926us-gaap:RetainedEarningsMember2022-07-012022-09-300000890926us-gaap:RetainedEarningsMember2023-01-012023-09-300000890926us-gaap:RetainedEarningsMember2022-01-012022-09-300000890926us-gaap:RetainedEarningsMember2023-09-300000890926us-gaap:RetainedEarningsMember2022-09-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-09-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300000890926us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-3000008909262022-09-3000008909262021-12-31rdn:segment0000890926rdn:MortgageInsuranceSegmentMember2023-09-30xbrli:pure0000890926rdn:MortgageInsuranceSegmentMember2022-12-310000890926us-gaap:OperatingSegmentsMemberrdn:MortgageInsuranceSegmentMember2023-07-012023-09-300000890926us-gaap:OperatingSegmentsMemberrdn:MortgageInsuranceSegmentMember2022-07-012022-09-300000890926us-gaap:OperatingSegmentsMemberrdn:MortgageInsuranceSegmentMember2023-01-012023-09-300000890926us-gaap:OperatingSegmentsMemberrdn:MortgageInsuranceSegmentMember2022-01-012022-09-300000890926us-gaap:OperatingSegmentsMemberrdn:HomegeniusSegmentMember2023-07-012023-09-300000890926us-gaap:OperatingSegmentsMemberrdn:HomegeniusSegmentMember2022-07-012022-09-300000890926us-gaap:OperatingSegmentsMemberrdn:HomegeniusSegmentMember2023-01-012023-09-300000890926us-gaap:OperatingSegmentsMemberrdn:HomegeniusSegmentMember2022-01-012022-09-300000890926us-gaap:OperatingSegmentsMember2023-07-012023-09-300000890926us-gaap:OperatingSegmentsMember2022-07-012022-09-300000890926us-gaap:OperatingSegmentsMember2023-01-012023-09-300000890926us-gaap:OperatingSegmentsMember2022-01-012022-09-300000890926us-gaap:CorporateNonSegmentMember2023-07-012023-09-300000890926us-gaap:CorporateNonSegmentMember2022-07-012022-09-300000890926us-gaap:CorporateNonSegmentMember2023-01-012023-09-300000890926us-gaap:CorporateNonSegmentMember2022-01-012022-09-300000890926us-gaap:MaterialReconcilingItemsMember2023-07-012023-09-300000890926us-gaap:MaterialReconcilingItemsMember2022-07-012022-09-300000890926us-gaap:MaterialReconcilingItemsMember2023-01-012023-09-300000890926us-gaap:MaterialReconcilingItemsMember2022-01-012022-09-300000890926rdn:MortgageInsuranceSegmentMember2023-07-012023-09-300000890926rdn:MortgageInsuranceSegmentMember2022-07-012022-09-300000890926rdn:MortgageInsuranceSegmentMember2023-01-012023-09-300000890926rdn:MortgageInsuranceSegmentMember2022-01-012022-09-300000890926rdn:HomegeniusSegmentMember2023-07-012023-09-300000890926rdn:HomegeniusSegmentMember2022-07-012022-09-300000890926rdn:HomegeniusSegmentMember2023-01-012023-09-300000890926rdn:HomegeniusSegmentMember2022-01-012022-09-300000890926rdn:AllOtheractivitiessegmentMember2023-07-012023-09-300000890926rdn:AllOtheractivitiessegmentMember2022-07-012022-09-300000890926rdn:AllOtheractivitiessegmentMember2023-01-012023-09-300000890926rdn:AllOtheractivitiessegmentMember2022-01-012022-09-300000890926us-gaap:IntersegmentEliminationMember2023-07-012023-09-300000890926us-gaap:IntersegmentEliminationMember2022-07-012022-09-300000890926us-gaap:IntersegmentEliminationMember2023-01-012023-09-300000890926us-gaap:IntersegmentEliminationMember2022-01-012022-09-300000890926rdn:ValuationServicesMember2023-07-012023-09-300000890926rdn:ValuationServicesMember2022-07-012022-09-300000890926rdn:ValuationServicesMember2023-01-012023-09-300000890926rdn:ValuationServicesMember2022-01-012022-09-300000890926rdn:SingleFamilyRentalMember2023-07-012023-09-300000890926rdn:SingleFamilyRentalMember2022-07-012022-09-300000890926rdn:SingleFamilyRentalMember2023-01-012023-09-300000890926rdn:SingleFamilyRentalMember2022-01-012022-09-300000890926rdn:AssetmanagementservicesMember2023-07-012023-09-300000890926rdn:AssetmanagementservicesMember2022-07-012022-09-300000890926rdn:AssetmanagementservicesMember2023-01-012023-09-300000890926rdn:AssetmanagementservicesMember2022-01-012022-09-300000890926rdn:RealEstateOwnedREOAssetManagementMember2023-07-012023-09-300000890926rdn:RealEstateOwnedREOAssetManagementMember2022-07-012022-09-300000890926rdn:RealEstateOwnedREOAssetManagementMember2023-01-012023-09-300000890926rdn:RealEstateOwnedREOAssetManagementMember2022-01-012022-09-300000890926rdn:RealEstateAgentServicesMember2023-07-012023-09-300000890926rdn:RealEstateAgentServicesMember2022-07-012022-09-300000890926rdn:RealEstateAgentServicesMember2023-01-012023-09-300000890926rdn:RealEstateAgentServicesMember2022-01-012022-09-300000890926rdn:TitleServicesMember2023-07-012023-09-300000890926rdn:TitleServicesMember2022-07-012022-09-300000890926rdn:TitleServicesMember2023-01-012023-09-300000890926rdn:TitleServicesMember2022-01-012022-09-300000890926rdn:RealEstateTechnologyServicesMember2023-07-012023-09-300000890926rdn:RealEstateTechnologyServicesMember2022-07-012022-09-300000890926rdn:RealEstateTechnologyServicesMember2023-01-012023-09-300000890926rdn:RealEstateTechnologyServicesMember2022-01-012022-09-300000890926rdn:MortgageServicesMember2023-07-012023-09-300000890926rdn:MortgageServicesMember2022-07-012022-09-300000890926rdn:MortgageServicesMember2023-01-012023-09-300000890926rdn:MortgageServicesMember2022-01-012022-09-300000890926rdn:HomegeniusSegmentMember2023-09-300000890926rdn:HomegeniusSegmentMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:FairValueMeasurementsRecurringMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FairValueInputsLevel3Member2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMember2023-09-300000890926srt:PartnershipInterestMemberrdn:InvestmentsMeasuredatNAVMember2023-09-300000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberrdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926rdn:TradingSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberrdn:MortgageLoansHeldForSaleMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MoneyMarketFundsMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherInvestmentsMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:FairValueMeasurementsRecurringMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:FairValueInputsLevel1Memberus-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-12-310000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-12-310000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2022-12-310000890926srt:PartnershipInterestMemberrdn:InvestmentsMeasuredatNAVMember2022-12-310000890926us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-09-300000890926us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-09-300000890926us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000890926us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000890926us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926rdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:DebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionCostMemberus-gaap:DebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:DebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-09-300000890926us-gaap:DebtSecuritiesMember2023-09-300000890926us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:CorporateDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:CollateralizedLoanObligationsMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:AssetBackedSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926rdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:DebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:SecuritiesFinancingTransactionCostMemberus-gaap:DebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:SecuritiesFinancingTransactionFairValueMemberus-gaap:DebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310000890926us-gaap:DebtSecuritiesMember2022-12-310000890926us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2023-09-300000890926us-gaap:USStatesAndPoliticalSubdivisionsMember2023-09-300000890926us-gaap:CorporateDebtSecuritiesMember2023-09-300000890926us-gaap:ResidentialMortgageBackedSecuritiesMember2023-09-300000890926us-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000890926us-gaap:CollateralizedLoanObligationsMember2023-09-300000890926us-gaap:AssetBackedSecuritiesMember2023-09-300000890926rdn:MortgageInsuranceLinkedNotesMember2023-09-300000890926us-gaap:ForeignGovernmentDebtSecuritiesMember2023-09-300000890926us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2022-12-310000890926us-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000890926us-gaap:CorporateDebtSecuritiesMember2022-12-310000890926us-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000890926us-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000890926us-gaap:CollateralizedLoanObligationsMember2022-12-310000890926us-gaap:AssetBackedSecuritiesMember2022-12-310000890926rdn:MortgageInsuranceLinkedNotesMember2022-12-310000890926us-gaap:ForeignGovernmentDebtSecuritiesMember2022-12-31rdn:security0000890926us-gaap:SecuritiesFinancingTransactionFairValueMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionFairValueMember2022-12-310000890926rdn:MortgageLoansHeldForSaleMember2023-09-30rdn:investmentrdn:state0000890926us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberrdn:MortgageLoansHeldForSaleMember2023-09-300000890926us-gaap:FixedMaturitiesMember2023-07-012023-09-300000890926us-gaap:FixedMaturitiesMember2022-07-012022-09-300000890926us-gaap:FixedMaturitiesMember2023-01-012023-09-300000890926us-gaap:FixedMaturitiesMember2022-01-012022-09-300000890926rdn:TradingSecuritiesMember2023-07-012023-09-300000890926rdn:TradingSecuritiesMember2022-07-012022-09-300000890926rdn:TradingSecuritiesMember2023-01-012023-09-300000890926rdn:TradingSecuritiesMember2022-01-012022-09-300000890926us-gaap:EquitySecuritiesMember2023-07-012023-09-300000890926us-gaap:EquitySecuritiesMember2022-07-012022-09-300000890926us-gaap:EquitySecuritiesMember2023-01-012023-09-300000890926us-gaap:EquitySecuritiesMember2022-01-012022-09-300000890926us-gaap:OtherInvestmentsMember2023-07-012023-09-300000890926us-gaap:OtherInvestmentsMember2022-07-012022-09-300000890926us-gaap:OtherInvestmentsMember2023-01-012023-09-300000890926us-gaap:OtherInvestmentsMember2022-01-012022-09-300000890926rdn:NonAssetBackedSecurityInvestmentsContractualMaturitiesMember2023-09-300000890926rdn:AssetBackedAndOtherMortgageBackedSecuritiesMember2023-09-300000890926us-gaap:SecuritiesFinancingTransactionCostMember2023-09-300000890926us-gaap:CustomerRelationshipsMemberrdn:HomegeniusSegmentMember2023-09-300000890926us-gaap:CustomerRelationshipsMemberrdn:HomegeniusSegmentMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20191LtdAndEagleRe20201LtdMember2023-01-012023-09-300000890926srt:MaximumMemberrdn:A2023QSRMember2023-07-010000890926rdn:A2022QSRMembersrt:MaximumMember2023-09-300000890926us-gaap:SalesRevenueNetMemberrdn:RadianGuarantyMemberus-gaap:ProductConcentrationRiskMemberrdn:A2023QSRMember2023-07-012023-07-010000890926us-gaap:SalesRevenueNetMemberrdn:RadianGuarantyMemberrdn:A2022QSRMemberus-gaap:ProductConcentrationRiskMember2022-07-012022-07-010000890926rdn:A2020SinglePremiumQSRMemberus-gaap:SalesRevenueNetMemberrdn:RadianGuarantyMemberus-gaap:ProductConcentrationRiskMember2020-01-012020-01-010000890926us-gaap:SalesRevenueNetMemberrdn:RadianGuarantyMemberrdn:A2018SinglePremiumQSRMemberus-gaap:ProductConcentrationRiskMember2018-01-012018-01-010000890926rdn:A2016SinglePremiumQSRTransactionMemberrdn:RadianGuarantyMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMembersrt:MinimumMember2022-09-302022-09-300000890926rdn:A2016SinglePremiumQSRTransactionMemberrdn:RadianGuarantyMemberus-gaap:SalesRevenueNetMembersrt:MaximumMemberus-gaap:ProductConcentrationRiskMember2022-09-302022-09-300000890926rdn:RadianGuarantyMemberrdn:A2023QSRMember2023-07-012023-07-010000890926rdn:RadianGuarantyMemberrdn:A2022QSRMember2022-07-012022-07-010000890926rdn:A2020SinglePremiumQSRMemberrdn:RadianGuarantyMember2020-01-012020-01-010000890926rdn:RadianGuarantyMemberrdn:A2018SinglePremiumQSRMember2018-01-012018-01-010000890926rdn:A2016SinglePremiumQSRTransactionMemberrdn:RadianGuarantyMember2016-01-012016-01-010000890926rdn:RadianGuarantyMembersrt:MaximumMemberrdn:A2023QSRMember2023-07-012023-07-010000890926rdn:RadianGuarantyMemberrdn:A2022QSRMembersrt:MaximumMember2022-07-012022-07-010000890926rdn:A2020SinglePremiumQSRMemberrdn:RadianGuarantyMembersrt:MaximumMember2020-01-012020-01-010000890926rdn:RadianGuarantyMemberrdn:A2018SinglePremiumQSRMembersrt:MaximumMember2018-01-012018-01-010000890926rdn:A2016SinglePremiumQSRTransactionMemberrdn:RadianGuarantyMembersrt:MaximumMember2016-01-012016-01-010000890926rdn:RadianGuarantyMemberrdn:A2023QSRMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:A2022QSRMember2023-09-300000890926rdn:A2020SinglePremiumQSRMemberrdn:RadianGuarantyMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:A2018SinglePremiumQSRMember2023-09-300000890926rdn:A2016SinglePremiumQSRTransactionMemberrdn:RadianGuarantyMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:A2023QSRMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:A2022QSRMember2022-12-310000890926rdn:A2020SinglePremiumQSRMemberrdn:RadianGuarantyMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:A2018SinglePremiumQSRMember2022-12-310000890926rdn:A2016SinglePremiumQSRTransactionMemberrdn:RadianGuarantyMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMembersrt:MinimumMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMembersrt:MaximumMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:ExcessofLossProgramMembersrt:MinimumMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:ExcessofLossProgramMembersrt:MaximumMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceLinkedNotesMemberus-gaap:FixedMaturitiesMember2023-06-300000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceLinkedNotesMemberrdn:EagleRe20201PrimaryMemberus-gaap:FixedMaturitiesMember2023-06-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20191LtdAndEagleRe20201LtdMemberrdn:TenderPremiumsMember2023-04-012023-06-300000890926rdn:DeferredCostsMemberrdn:RadianGuarantyMemberrdn:EagleRe20191LtdAndEagleRe20201LtdMember2023-04-012023-06-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20191LtdAndEagleRe20201LtdMembersrt:ScenarioForecastMember2023-07-012024-06-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2021-11-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2021-04-300000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2020-02-290000890926rdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2019-04-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2018-11-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2021-11-012021-11-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2021-04-012021-04-300000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2020-02-012020-02-290000890926rdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2019-04-012019-04-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2018-11-012018-11-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:XOLFirstLayerMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2021-11-012021-11-300000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2021-04-012021-04-300000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2020-02-012020-02-290000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2019-04-012019-04-300000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2018-11-012018-11-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:XOLFirstLayerMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:XOLFirstLayerMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:XOLFirstLayerMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-01-012022-12-310000890926rdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:ExcessofLossProgramMemberrdn:RadianGroupInc.Member2023-01-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:ExcessofLossProgramMemberrdn:RadianGroupInc.Member2023-01-012023-09-300000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20212PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20181PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20211PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2023-09-300000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:EagleRe20201PrimaryMember2022-12-310000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-09-300000890926us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberrdn:RadianGuarantyMemberrdn:EagleRe20191PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2022-12-310000890926rdn:RadianGuarantyMemberrdn:ExcessofLossProgramMember2023-09-300000890926rdn:RadianGuarantyMemberrdn:ExcessofLossProgramMember2022-12-310000890926rdn:RadianGuarantyMemberus-gaap:SubsequentEventMemberrdn:EagleRe20231PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-10-310000890926us-gaap:SubsequentEventMemberrdn:EagleRe20231PrimaryMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMemberrdn:MortgageInsuranceLinkedNotesMemberrdn:EagleRe20231PrimaryMember2023-10-012023-10-310000890926rdn:A2023XOLAgreementMemberrdn:RadianGuarantyMemberus-gaap:SubsequentEventMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMember2023-10-310000890926rdn:A2023XOLAgreementMemberrdn:RadianGuarantyMemberrdn:MortgageInsuranceSegmentMemberrdn:ExcessofLossProgramMembersrt:ScenarioForecastMember2028-09-300000890926rdn:RadianGuarantyMember2023-09-300000890926rdn:RadianGuarantyMember2022-12-310000890926us-gaap:InternalRevenueServiceIRSMember2023-09-300000890926us-gaap:InternalRevenueServiceIRSMember2022-12-310000890926us-gaap:USTreasurySecuritiesMember2023-09-300000890926us-gaap:USTreasurySecuritiesMember2022-12-310000890926rdn:MortgageInsuranceSegmentMemberrdn:PrimaryCaseReservesMember2023-09-300000890926rdn:MortgageInsuranceSegmentMemberrdn:PrimaryCaseReservesMember2022-12-310000890926rdn:PrimaryIBNRAndLAEMemberrdn:MortgageInsuranceSegmentMember2023-09-300000890926rdn:PrimaryIBNRAndLAEMemberrdn:MortgageInsuranceSegmentMember2022-12-310000890926rdn:PoolAndOtherMemberrdn:MortgageInsuranceSegmentMember2023-09-300000890926rdn:PoolAndOtherMemberrdn:MortgageInsuranceSegmentMember2022-12-310000890926rdn:MortgageInsuranceSegmentMember2021-12-310000890926rdn:MortgageInsuranceSegmentMember2022-09-300000890926rdn:PrimaryMortgageProductMemberrdn:MortgageInsuranceSegmentMember2023-01-012023-09-30rdn:default0000890926rdn:PrimaryMortgageProductMemberrdn:MortgageInsuranceSegmentMember2022-01-012022-09-300000890926rdn:PrimaryMortgageProductMemberrdn:MortgageInsuranceSegmentMember2023-09-300000890926rdn:PrimaryMortgageProductMemberrdn:MortgageInsuranceSegmentMember2022-09-300000890926us-gaap:SeniorNotesMemberrdn:SeniorNotesDue2024Member2023-09-300000890926us-gaap:SeniorNotesMemberrdn:SeniorNotesDue2024Member2022-12-310000890926us-gaap:SeniorNotesMemberrdn:SeniorNotesDue2025Member2023-09-300000890926us-gaap:SeniorNotesMemberrdn:SeniorNotesDue2025Member2022-12-310000890926rdn:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2023-09-300000890926rdn:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2022-12-310000890926us-gaap:SeniorNotesMember2023-09-300000890926us-gaap:SeniorNotesMember2022-12-310000890926us-gaap:FederalHomeLoanBankAdvancesMember2023-09-300000890926us-gaap:FederalHomeLoanBankAdvancesMember2022-12-310000890926rdn:MortgageFinancingFacilityMember2023-09-300000890926rdn:MortgageFinancingFacilityMember2022-12-310000890926us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-09-300000890926us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2022-12-310000890926us-gaap:FederalHomeLoanBankCertificatesAndObligationsFHLBMembersrt:MinimumMember2023-01-012023-09-300000890926us-gaap:FederalHomeLoanBankCertificatesAndObligationsFHLBMembersrt:MaximumMember2023-01-012023-09-300000890926us-gaap:DebtSecuritiesMemberrdn:FixedMaturitiesAFSAndTradingSecuritiesMember2023-09-300000890926us-gaap:DebtSecuritiesMemberrdn:FixedMaturitiesAFSAndTradingSecuritiesMember2022-12-310000890926us-gaap:MortgagesMemberrdn:GoldmanSachsMasterRepurchaseAgreementMember2022-12-310000890926us-gaap:MortgagesMemberrdn:GoldmanSachsMasterRepurchaseAgreementMember2023-07-310000890926us-gaap:MortgagesMemberrdn:BMOMasterRepurchaseAgreementMember2022-12-310000890926us-gaap:MortgagesMemberrdn:BMOMasterRepurchaseAgreementMember2023-04-300000890926us-gaap:MortgagesMemberrdn:BMOMasterRepurchaseAgreementMember2023-09-300000890926us-gaap:MortgagesMemberrdn:GoldmanSachsMasterRepurchaseAgreementMember2023-09-300000890926rdn:MortgageLoansHeldForSaleMemberus-gaap:AssetPledgedAsCollateralMember2023-09-300000890926rdn:MortgageLoansHeldForSaleMemberus-gaap:AssetPledgedAsCollateralMember2022-12-310000890926us-gaap:RevolvingCreditFacilityMember2023-09-300000890926rdn:RadianMortgageCapitalMember2023-09-300000890926us-gaap:UnassertedClaimMembersrt:MinimumMember2023-09-30rdn:legalMatter0000890926rdn:TotalOf3Q191Q20And3Q21RepurchaseProgramsMember2023-01-012023-09-300000890926rdn:TotalOf3Q191Q20And3Q21RepurchaseProgramsMember2022-01-012022-12-3100008909262022-01-012022-12-3100008909262023-01-310000890926rdn:TotalOf3Q191Q20And3Q21RepurchaseProgramsMember2023-09-3000008909262022-10-012022-12-3100008909262022-01-012022-03-3100008909262022-04-012022-06-3000008909262023-01-012023-03-3100008909262023-04-012023-06-300000890926rdn:A2021AwardYearMemberrdn:PerformanceBasedRSUsEquitySettledMember2023-01-012023-09-300000890926rdn:A2021AwardYearMemberrdn:PerformanceBasedRSUsEquitySettledMembersrt:MaximumMember2023-01-012023-09-300000890926rdn:A2021AwardYearMemberrdn:PerformanceBasedRSUsEquitySettledMembersrt:MinimumMember2023-01-012023-09-300000890926rdn:A2021AwardYearMemberrdn:TimedVestedRSUsEquitySettledMember2023-09-30rdn:anniversary0000890926rdn:A2021AwardYearMemberrdn:TimedVestedRSUsEquitySettledMembersrt:MinimumMember2023-01-012023-09-300000890926rdn:PerformanceBasedRSUsEquitySettledMember2022-12-310000890926rdn:TimedVestedRSUsEquitySettledMember2022-12-310000890926rdn:PerformanceBasedRSUsEquitySettledMember2023-01-012023-09-300000890926rdn:TimedVestedRSUsEquitySettledMember2023-01-012023-09-300000890926rdn:PerformanceBasedRSUsEquitySettledMember2023-09-300000890926rdn:TimedVestedRSUsEquitySettledMember2023-09-300000890926rdn:PerformanceBasedRSUsEquitySettledMembersrt:MinimumMember2023-01-012023-09-300000890926rdn:RadianGuarantyMember2023-01-012023-09-300000890926rdn:RadianGuarantyMember2022-01-012022-09-300000890926rdn:OtherMICompaniesMember2023-01-012023-09-300000890926rdn:OtherMICompaniesMember2022-01-012022-09-300000890926rdn:RadianTitleInsuranceMember2023-01-012023-09-300000890926rdn:RadianTitleInsuranceMember2022-01-012022-09-300000890926rdn:OtherMICompaniesMember2023-09-300000890926rdn:OtherMICompaniesMember2022-12-310000890926rdn:RadianTitleInsuranceMember2023-09-300000890926rdn:RadianTitleInsuranceMember2022-12-310000890926us-gaap:ReportableSubsegmentsMember2023-09-300000890926rdn:RadianGuarantyMember2023-01-012023-03-310000890926rdn:RadianGuarantyMember2023-04-012023-06-300000890926rdn:RadianGuarantyMember2023-07-012023-09-300000890926rdn:RadianGuarantyMemberrdn:EagleRe20191LtdAndEagleRe20201LtdMember2023-09-30

(Mark One)

For the quarterly period ended September 30, 2023

For the transition period from              to             

Commission File Number 1-11356

550 East Swedesford Road, Suite 350, Wayne, PA 19087

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐   No  ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 153,160,338 shares of common stock, $0.001 par value per share, outstanding on November 1, 2023.

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, 2022 (“2022 Form 10-K”) are also utilized throughout this report, to assist readers seeking additional information related to a particular subject.

Cautionary Note Regarding Forward-Looking Statements
—Safe Harbor Provisions

All statements in this report that address events, developments or results that we expect or anticipate may occur in the future are “forward-looking statements” within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. In most cases, forward-looking statements may be identified by words such as “anticipate,” “may,” “will,” “could,” “should,” “would,” “expect,” “intend,” “plan,” “goal,” “contemplate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “strategy,” “future,” “likely” or the negative or other variations on these words and other similar expressions. These statements, which may include, without limitation, projections regarding our future performance and financial condition, are made on the basis of management’s current views and assumptions with respect to future events. These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment where new risks emerge from time to time and it is not possible for us to predict all risks that may affect us. The forward-looking statements are not guarantees of future performance, and the forward-looking statements, as well as our prospects as a whole, are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These risks and uncertainties include, without limitation:

■the health of the U.S. housing market generally and changes in economic conditions that impact the size of the insurable mortgage market, the credit performance of our insured mortgage portfolio and our business prospects, including more recently, changes resulting from inflationary pressures, the higher interest rate environment and the risks of a recession and of higher unemployment rates, as well as other macroeconomic stresses and uncertainties, including potential impacts resulting from geopolitical events;

■changes in the way customers, investors, ratings agencies, regulators or legislators perceive our performance, financial strength and future prospects;

■Radian Guaranty’s ability to remain eligible under the PMIERs to insure loans purchased by the GSEs;

■our ability to maintain an adequate level of capital in our insurance subsidiaries to satisfy current and future regulatory requirements;

■changes in the charters or business practices of, or rules or regulations imposed by or applicable to, the GSEs or loans purchased by the GSEs, or changes in the requirements for Radian Guaranty to remain an approved insurer to the GSEs, such as changes in the PMIERs or the GSEs’ interpretation and application of the PMIERs or other applicable requirements;

■the effects of the ERCF, which establishes a new regulatory capital framework for the GSEs, and which, as finalized, increases the capital requirements for the GSEs, and among other things, could impact the GSEs’ operations and pricing as well as the size of the insurable mortgage market, and which may form the basis for future changes to the PMIERs to better align with the ERCF;

■changes in the current housing finance system in the United States, including the roles of the Federal Housing Administration (the “FHA”), the GSEs and private mortgage insurers in this system;

■our ability to successfully execute and implement our capital plans, including our risk distribution strategy through the capital markets and traditional reinsurance markets, and to maintain sufficient holding company liquidity to meet our liquidity needs;

■our ability to successfully execute and implement our business plans and strategies, including plans and strategies that may require GSE and/or regulatory approvals and licenses, that are subject to complex compliance requirements that we may be unable to satisfy, or that may expose us to new risks, including those that could impact our capital and liquidity positions;

■risks related to the quality of third-party mortgage underwriting and mortgage servicing;

■a decrease in the Persistency Rates of our mortgage insurance on Monthly Premium Policies;

■competition in the private mortgage insurance industry generally, and more specifically: price competition in our mortgage insurance business, including the prevalence of formulaic, granular risk-based pricing methodologies that are less transparent than historical rate-card-based pricing practices; and competition from the FHA and the U.S. Department of Veterans Affairs as well as from other forms of credit enhancement, such as any potential GSE-sponsored alternatives to traditional mortgage insurance;

■U.S. political conditions and legislative and regulatory activity (or inactivity), including adoption of (or failure to adopt) new laws and regulations, or changes in existing laws and regulations, or the way they are interpreted or applied;

■legal and regulatory claims, assertions, actions, reviews, audits, inquiries and investigations that could result in adverse judgments, settlements, fines, injunctions, restitutions or other relief that could require significant expenditures, new or increased reserves or have other effects on our business; ■the amount and timing of potential payments or adjustments associated with federal or other tax examinations;

■the possibility that we may fail to estimate accurately, especially in the event of an extended economic downturn or a period of extreme market volatility and economic uncertainty, the likelihood, magnitude and timing of losses in establishing loss reserves for our mortgage insurance business or to accurately calculate and/or project our Available Assets and Minimum Required Assets under the PMIERs, which could be impacted by, among other things, the size and mix of our IIF, future changes to the PMIERs, the level of defaults in our portfolio, the reported status of defaults in our portfolio (including whether they are subject to mortgage forbearance, a repayment plan or a loan modification trial period), the level of cash flow generated by our insurance operations and our risk distribution strategies;

■volatility in our financial results caused by changes in the fair value of our assets and liabilities, including with respect to our use of derivatives and within our investment portfolio;

■changes in GAAP or SAP rules and guidance, or their interpretation;

■risks associated with investments to grow our existing businesses, or to pursue new lines of business or new products and services, including our ability and related costs to develop, launch and implement new and innovative technologies and digital products and services, whether these products and services receive broad customer acceptance or disrupt existing customer relationships, and additional financial risks related to these investments, including required changes in our investment, financing and hedging strategies, risks associated with our increased use of financial leverage, which could expose us to liquidity risks resulting from changes in the fair values of assets, and the risk that we may fail to achieve forecasted results, which could result in lower or negative earnings contribution and/or impairment charges associated with intangible assets;

■the effectiveness and security of our information technology systems and digital products and services, including the risk that these systems, products or services fail to operate as expected or planned or expose us to cybersecurity or third-party risks, including due to malware, unauthorized access, cyberattack, ransomware or other similar events;

■our ability to attract and retain key employees;

■the amount of dividends, if any, that our insurance subsidiaries may distribute to us, which under applicable regulatory requirements is based primarily on the financial performance of our insurance subsidiaries, and therefore, may be impacted by general economic, competitive and other factors, many of which are beyond our control; and

■the ability of our operating subsidiaries to distribute amounts to us under our internal tax- and expense-sharing arrangements, which for our insurance subsidiaries are subject to regulatory review and could be terminated at the discretion of such regulators.

For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to “Item 1A. Risk Factors” in this report and “Item 1A. Risk Factors” in our 2022 Form 10-K, and to subsequent reports and registration statements filed from time to time with the SEC. We caution you not to place undue reliance on these forward-looking statements, which are current only as of the date on which we issued this report. We do not intend to, and we disclaim any duty or obligation to, update or revise any forward-looking statements to reflect new information or future events or for any other reason.

Radian Group Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)

Radian Group Inc. and Subsidiaries
Condensed Consolidated Statements of Operations (Unaudited)

Radian Group Inc. and Subsidiaries
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

Radian Group Inc. and Subsidiaries
Condensed Consolidated Statements of Changes in Common Stockholders’ Equity (Unaudited)