Despite efforts to curb the flow of insurance premiums they turn over to their lender customers, the private mortgage insurance industry last year ceded some $701.1 million in reinsurance premiums to captive reinsurance vehicles, according to a new analysis by Inside Mortgage Finance. The $701.1 million ceded to lender captives last year represented a 12.7 percent increase over the amount the private MIs coughed up in 2003. The two MIs that took the most aggressive…