Radian Group Inc. reported net income of $145 million, or $0.98 per diluted share, for the first quarter ended March 31, 2025. This compares to $152 million, or $0.98 per diluted share, in the prior-year quarter. Consolidated pretax income was $188 million, down from $199 million in Q1 2024, while total revenues were $318 million, a slight decrease from $319 million in Q1 2024.
The company achieved an 11% year-over-year growth in book value per share, reaching $32.48 as of March 31, 2025, compared to $29.30 a year prior. Primary mortgage insurance in force grew to $274.2 billion, and the portfolio default rate declined to 2.33% from 2.44% at December 31, 2024, driven by favorable credit trends.
Radian continued its capital return strategy, repurchasing $207 million of shares, representing over 4% of shares outstanding, and paying $37 million in dividends during the quarter, totaling $244 million in capital returned. Additionally, Radian Guaranty agreed to principal terms on three new quota share reinsurance arrangements in April 2025, ceding 30% of policies issued from July 1, 2025, to June 30, 2027, and 15% for July 1, 2027, to June 30, 2028, to manage capital and mitigate risk.
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