MGIC Q2 2024 Earnings Report

MGIC Investment Corporation reported solid financial results, benefiting from favorable credit trends and a disciplined market approach.

Key Takeaways

MGIC Investment Corporation reported a strong second quarter of 2024, with a net income of $204.2 million, or $0.77 per diluted share, and an adjusted net operating income of $204.9 million, or $0.77 per diluted share. The company continues to benefit from favorable credit trends and a disciplined market approach.

Net income for the second quarter of 2024 was $204.2 million, or $0.77 per diluted share.

Adjusted net operating income for the second quarter of 2024 was $204.9 million, or $0.77 per diluted share.

New insurance written (NIW) for the second quarter of 2024 was $13.5 billion.

The company repurchased 7.6 million shares of common stock for $157.0 million during the second quarter.