MGIC Investment reported second-quarter 2026 net income of $182.1 million, or $0.86 per diluted share, and adjusted net operating income of $183.7 million, or $0.87 per diluted share. Total revenues for the quarter were $295.4 million, with net premiums earned of $238.1 million and net investment income of $59.5 million. The company generated a 14.5% annualized return on equity and repurchased 6.6 million shares for $176.6 million during the quarter.

Financial Highlights

  • Net income: $182.1 million for Q2 2026 (Net income per diluted share: $0.86).
  • Adjusted net operating income (Non-GAAP): $183.7 million for Q2 2026 (Adjusted net operating income per diluted share: $0.87).
  • Total revenues: $295.4 million for Q2 2026; net premiums earned: $238.1 million; net investment income: $59.5 million.
  • Return on equity (annualized): 14.5% for Q2 2026.
  • Shareholders' equity / book value per share: book value per common share $24.27; tangible book value per share $25.08 as of June 30, 2026.

Business Highlights

  • New insurance written (NIW) totaled $17.8 billion in Q2 2026, up from $14.4 billion in Q1 2026 and $16.4 billion in Q2 2025; year-to-date NIW was $32.2 billion.
  • Insurance in force increased to $304.8 billion at June 30, 2026, from $302.7 billion at March 31, 2026.
  • Annual persistency stood at 83.3% in Q2 2026, reflecting policy retention trends across the portfolio.
  • Delinquency and claims activity: primary IIF delinquency rate (count based) was 2.37%; ending primary delinquent inventory totaled 26,152 loans with 355 primary claims received included in that inventory.
  • Capital and liquidity actions: repurchased 6.6 million shares for $176.6 million in Q2 and paid a $0.15 per-share dividend; holding company liquidity was $930 million as of June 30, 2026, and the board authorized an additional $750 million share repurchase program through Dec. 31, 2028.

Original SEC Filing:

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