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Mar 31, 2023
NMI Holdings Q1 2023 Earnings Report
Reported net income of $74.5 million, or $0.88 per diluted share, for the first quarter ended March 31, 2023.
Key Takeaways
NMI Holdings, Inc. reported a strong start to the year with significant momentum, delivering strong operating performance, continued growth in its high-quality insured portfolio, and standout financial results in the first quarter. Net income was $74.5 million, or $0.88 per diluted share, compared to $67.7 million, or $0.77 per diluted share, in the first quarter of 2022.
Primary insurance-in-force at quarter end was $186.7 billion, compared to $158.9 billion in the first quarter of 2022.
Net premiums earned were $121.8 million, compared to $116.5 million in the first quarter of 2022.
Total revenue was $136.8 million, compared to $127.4 million in the first quarter of 2022.
Underwriting and operating expenses were $25.8 million, compared to $32.9 million in the first quarter of 2022.
NMI Holdings
NMI Holdings
Forward Guidance
The company did not provide specific forward guidance in this earnings report.