MGIC Investment Corporation reported strong second-quarter 2025 financial results, with net income reaching $192.5 million, or $0.81 per diluted share. The adjusted net operating income for the quarter was $194.0 million, or $0.82 per diluted share. These figures represent an increase in net income and diluted EPS compared to Q1 2025, and a solid performance against Q2 2024.
New insurance written (NIW) for the quarter was $16.4 billion, a notable increase from $10.2 billion in Q1 2025 and $13.5 billion in Q2 2024. Net premiums earned were $244.3 million, consistent with the previous quarter and Q2 2024. Insurance in force grew to $297.0 billion, up from $293.8 billion in Q1 2025.
The company returned $212 million of capital to shareholders during the quarter through a combination of share repurchases and dividends. This capital return, alongside a 15% increase in the common stock dividend announced prior to the earnings release, highlights the company's strong capital position and commitment to shareholder value. Book value per common share outstanding increased to $22.11 from $21.40 in Q1 2025, and the annualized return on equity was 15.0%.
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