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Mar 31, 2021
NMI Holdings Q1 2021 Earnings Report
Reported net income and record NIW volume, significant growth in insured portfolio and strong financial performance.
Key Takeaways
NMI Holdings, Inc. reported a net income of $52.9 million, or $0.61 per diluted share, for the first quarter ended March 31, 2021. New insurance written was $26.4 billion, up 33% compared to the fourth quarter and 134% compared to the first quarter of 2020.
New insurance written was $26.4 billion, up 33% compared to $19.8 billion in the fourth quarter and 134% compared to $11.3 billion in the first quarter of 2020
Primary insurance-in-force at quarter end was $123.8 billion, up 11% from $111.3 billion at the end of the fourth quarter and 26% compared to the first quarter of 2020
Net premiums earned were $105.9 million, up 5% compared to $100.7 million in the fourth quarter and 7% compared to $98.7 million in the first quarter of 2020
At quarter-end, cash and investments were $1.9 billion and shareholders’ equity was $1.4 billion, equal to $16.13 per share
NMI Holdings
NMI Holdings
Forward Guidance
Company did not provide forward guidance in the earnings report.