Conditions and Trends Affecting Our Business
Key Factors Affecting Our Results
New Insurance Written, Insurance-In-Force and Risk-In-Force
Net Premiums Written and Net Premiums Earned
•premium rates and the mix of premium payment type, which are either single, monthly or annual premiums, as described below;
•cession of premiums under third-party reinsurance arrangements.
Effect of reinsurance on our results
The following table presents the inception date, covered production period, current reinsurance coverage amount, current first layer retained aggregate loss and detail on the level of overcollateralization under each outstanding ILN Transaction. Current amounts are presented as of
ILN 2020-2 ILN 2021-1 ILN 2021-2 ILN ($ values in thousands)
Transaction Transaction Transaction Transaction Inception date
Each of the third-party reinsurance providers that is party to the XOL Transactions has an insurer financial strength rating of A- or better by S&P,
The following table presents the inception date, covered production period, initial and current reinsurance coverage
Quota share reinsurance
The following table presents net premiums written and earned for the periods indicated:
As of and for the three months ended
Average loan size ($ value in thousands) (1) $ 311 $
The tables below present our total primary IIF and RIF by FICO and LTV, and total primary RIF by loan type as of the dates indicated.
Insurance Claims and Claim Expenses
The following table provides details of our claims paid, before giving effect to claims ceded under the QSR Transactions for the periods indicated:
(1) Count includes seven and six claims settled without payment during the three months ended
(1) Defined as the gross reserve per insured loan in default. (2) Amount includes claims adjustment expenses.
The decrease in the risk-based required asset amount between the dates presented was primarily due to an increase in the risk ceded under our third-party reinsurance agreements, partially offset by the growth in our gross RIF and aggregate gross-risk based required asset amount.
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