MGIC Investment Corporation reported its fourth-quarter 2024 financial results, with net income of $184.7 million, a slight increase from $184.5 million in Q4 2023. Diluted net income per share for the quarter was $0.72, up from $0.66 in the prior year period. The company's new insurance written (NIW) saw substantial growth, reaching $15.9 billion compared to $10.9 billion in Q4 2023.
For the full year 2024, MGIC achieved a net income of $763.0 million, an increase from $712.9 million in 2023. Full-year diluted net income per share was $2.89, up from $2.49 in 2023, reflecting strong overall profitability. The total new primary insurance written for the year amounted to $55.7 billion, a significant rise from $46.1 billion in 2023.
Despite a slight decrease in PMIERs excess assets to $2.2 billion at year-end 2024 from $2.4 billion at year-end 2023, holding company liquidity increased to $1,076 million from $918 million. The company's book value per common share outstanding also grew to $20.82 from $18.61. These results highlight the company's ability to generate capital and return value to shareholders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.