MGIC Investment Corporation reported its second-quarter 2025 financial results, with net income of $192.5 million, a decrease from $204.2 million in the second quarter of 2024. However, diluted net income per share increased to $0.81 from $0.77 in the prior year period, reflecting the impact of share repurchases. The company also achieved an annualized 15% return on equity.
New insurance written (NIW) for the quarter reached $16.4 billion, an increase from $13.5 billion in the second quarter of 2024, indicating continued strong business generation. Net premiums earned remained stable at $244.3 million, compared to $243.5 million in Q2 2024. Losses incurred, net, were $(2.8) million, representing less favorable development compared to $(18.3) million in Q2 2024.
The company's capital position remained solid, with PMIERs excess assets at $2.4 billion as of June 30, 2025, consistent with the prior year. Holding company liquidity increased to $1,046 million from $990 million. MGIC returned $212 million of capital to shareholders during the quarter through a combination of share repurchases and dividends, demonstrating a strong commitment to shareholder value.
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