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Jun 30, 2022
MGIC Q2 2022 Earnings Report
Reported strong financial results and meaningful returns to shareholders.
Key Takeaways
MGIC Investment Corporation reported a net income of $249.3 million, or $0.80 per diluted share, and an adjusted net operating income of $254.4 million, or $0.81 per diluted share, for the second quarter of 2022. The company demonstrated the benefits of its capital position by growing insurance in force, repurchasing stock, paying a common stock dividend, decreasing its leverage ratio and producing an annualized 21.6% return on equity.
New insurance written was $24.3 billion.
Persistency was 71.5% at June 30, 2022.
Insurance in force of $286.8 billion at June 30, 2022, increased by 3.4% during the quarter and 9.5% compared with June 30, 2021.
Primary delinquency inventory of 26,855 loans at June 30, 2022 decreased from 30,462 loans at March 31, 2022, and 42,999 loans at June 30, 2021.
Forward Guidance
No forward guidance provided in the transcript.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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