MGIC Investment Corporation reported fourth-quarter 2024 net income of $184.7 million, or $0.72 per diluted share, with adjusted net operating income at $184.5 million, or $0.72 per diluted share. For the full year 2024, the company achieved a net income of $763.0 million, or $2.89 per diluted share, and adjusted net operating income of $768.5 million, or $2.91 per diluted share. These full-year results demonstrate a solid financial performance compared to 2023.
New insurance written (NIW) for the fourth quarter was $15.9 billion, contributing to a full-year NIW of $55.7 billion, an increase from $46.1 billion in 2023. Net premiums earned in Q4 2024 were $241.3 million, leading to $970.8 million for the full year. Insurance in force grew to $295.4 billion by year-end 2024, up from $293.5 billion at the end of 2023.
The company's capital and liquidity remained robust, with holding company liquidity at $1,076 million as of December 31, 2024. Book value per common share outstanding increased to $20.82 from $18.61 at the end of 2023. The annualized return on equity for Q4 2024 was 14.0%, reflecting consistent profitability and effective capital management.
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