What does specialty segment operating — combined ratio mean?

The combined ratio is the sum of the loss ratio and the expense ratio for the specialty segment, providing a comprehensive view of its overall underwriting and operational profitability. A ratio below 100 percent indicates that the segment is generating an underwriting profit, while a ratio above 100 percent indicates an underwriting loss. It is a primary benchmark for evaluating the total operational health of the segment.

Radian Group RDN Specialty Segment Operating — Combined Ratio

Similar metrics at other companies

ORISpecialty Insurance Group — Combined Ratio

94.8%+5.0pp

SIGIStandard Commercial Lines — Combined Ratio

100.2%+3.8pp

SIGIInsurance Operations — Combined Ratio

98.3%+2.2pp

RNRCasualty and Specialty — Combined Ratio

100.4%-10.7pp

AXSReinsurance — Combined Ratio

92.7%+0.4pp

SIGIStandard Personal Lines — Combined Ratio

92.8%-5.2pp

Other financials

Income statement

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Revenue$466.3M+58.2%

Gross profit$290.1M+0.4%

Net income$124.1M-14.2%

EPS (diluted)$0.89-9.2%

Balance sheet

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Cash & equivalents$95.3M+236%

Total debt$1.3B+3,561%

Total equity$4.8B+4.8%

Total assets$10.7B+21.5%

Cash flow

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Operating cash flow$285.0M+320%

CapEx$749.0K-31.3%

Free cash flow$284.3M+326%

Valuation

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Market cap$4.61B-6.0%

Profitability

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Gross margin96.9%+0.1pp

Net margin41.1%-8.7pp

FCF margin24.3%+14.4pp

Returns & leverage

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Return on equity12%-1.3pp

Debt / equity0.3×+0.3×

Where this comes from

Reported directly by Radian Group in its filing.

Tagged under the XBRL concept us-gaap:CombinedRatio.

The official record: Radian Group’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Radian Group's specialty segment operating — combined ratio?: Radian Group (RDN) reported specialty segment operating — combined ratio of 85.3% in Q1 2026.
What does specialty segment operating — combined ratio mean?: The combined ratio is the sum of the loss ratio and the expense ratio for the specialty segment, providing a comprehensive view of its overall underwriting and operational profitability. A ratio below 100 percent indicates that the segment is generating an underwriting profit, while a ratio above 100 percent indicates an underwriting loss. It is a primary benchmark for evaluating the total operational health of the segment.