RADIAN GROUP INC
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
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Results of Operations—All Other
The following table summarizes our results of operations for our All Other activities for the periods indicated.
| Summary results of operations - All Other | |||||
|---|---|---|---|---|---|
| Years Ended December 31, · ChangeFavorable (Unfavorable) | |||||
| (In thousands) | 2024 | 2023 | 2022 | 2024 vs. 2023 | 2023 vs. 2022 |
| Revenues | |||||
| Net premiums earned | $12,046 | $10,215 | $23,918 | $1,831 | $(13,703) |
| Services revenue | 49,646 | 45,394 | 85,158 | 4,252 | (39,764) |
| Net investment income | 91,240 | 63,353 | 24,437 | 27,887 | 38,916 |
| Net gains (losses) on investments and other financial instruments | (5,798) | 814 | 47 | (6,612) | 767 |
| Income (loss) on consolidated VIEs | (2) | — | — | (2) | — |
| Other income | 582 | 27 | 248 | 555 | (221) |
| Total revenues | 147,714 | 119,803 | 133,808 | 27,911 | (14,005) |
| Expenses | |||||
| Provision for losses | (266) | (390) | 1,135 | (124) | 1,525 |
| Cost of services | 37,737 | 37,778 | 76,407 | 41 | 38,629 |
| Other operating expenses | 114,593 | 122,305 | 135,478 | 7,712 | 13,173 |
| Interest expense | 20,008 | 3,507 | 14 | (16,501) | (3,493) |
| Total expenses | 172,072 | 163,200 | 213,034 | (8,872) | 49,834 |
| Adjusted pretax operating income (loss) (1) | $(24,358) | $(43,397) | $(79,226) | $19,039 | $35,829 |
(1)
Our senior management uses adjusted pretax operating income (loss) as our primary measure to evaluate the fundamental financial performance of each of our business segments. See Note 4 of Notes to Consolidated Financial Statements.
Our All Other results include income from investments held at Radian Group, which have benefited from rising interest rates over the past year as well as from rising balances resulting from distributions by Radian Guaranty.
All Other also includes the financial results of our other immaterial operating segments, comprising our Mortgage Conduit, Title, Real Estate Services and Real Estate Technology businesses. In particular, Radian Mortgage Capital contributed to the increase in net investment income, net losses on investments and other financial instruments and interest expense during 2024, as our residential mortgage loan and securitization activities increased.
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