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Sep 30, 2021
MGIC Q3 2021 Earnings Report
MGIC reported strong financial results driven by high-quality insurance in force, a strong housing market, decreasing delinquencies, and improving economic conditions.
Key Takeaways
MGIC Investment Corporation reported a net income of $158.0 million, or $0.46 per diluted share, for the third quarter of 2021. Adjusted net operating income was $157.1 million, or $0.46 per diluted share.
New insurance written was $28.7 billion, reflecting a decrease in the refinance market.
Insurance in force increased by 2.4% during the quarter and 12.3% compared to the prior year.
The loss ratio for the third quarter of 2021 was 8.1%, compared to 15.9% for the third quarter of 2020.
The underwriting expense ratio associated with insurance operations for the third quarter of 2021 was 21.9%.
Forward Guidance
MGIC did not provide specific forward guidance in this earnings report. The report highlights the company's strong capital position and confidence in its business model, as evidenced by share repurchases and dividend payments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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