MGIC Investment Corp reported second-quarter 2026 results with revenue of $295.4M and net income of $182.1M; diluted EPS was $0.86. Revenue and net income declined modestly year over year while EPS rose as shares diluted further improved.
Financial Highlights
- Revenue was $295.4M for Q2 2026, down from $304.2M in the year-ago quarter ( (3.0%) ).
- Net income was $182.1M for Q2 2026, down from $192.5M in the year-ago quarter ( (5.3%) ).
- Diluted EPS was $0.86 for Q2 2026, up from $0.81 in the year-ago quarter (6.2%).
Business Highlights
- Top-line drivers: Net premiums and investment income were slightly down quarter over quarter. New insurance in force (NIW) rose to $17.8B, driven by higher purchase-originations which comprised about 90% of NIW in Q2.
- Channel and credit mix shifted toward purchase activity and higher-credit-score borrowers, increasing the purchase mix versus refinances.
- Risk management: Expanded use of reinsurance programs (QSR/XOL/Home Re) increased ceded risk-in-force and generated PMIERs capital credit, improving capital efficiency and contributing to a reported $2.7B PMIERs cushion.
- Claims and loss trends: New delinquencies and claim severity increased, producing higher current-year losses despite favorable development on prior-year reserves.
- Operations and compliance: The company maintained PMIERs and state capital compliance and continued focus on cybersecurity and evolving regulatory requirements.
Original SEC Filing:
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