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Jun 30, 2023
Radian Q2 2023 Earnings Report
Radian reported net income with increased book value per share and mortgage insurance in force.
Key Takeaways
Radian Group Inc. reported excellent second quarter results, increasing book value per share by 12% year-over-year and generating net income of $146 million. The primary mortgage insurance in force grew 5% year-over-year, reaching $267 billion, and the total holding company liquidity increased to $1.3 billion.
Primary mortgage insurance in force increased 5% year-over-year to $266.9 billion.
Total holding company liquidity grew to $1.3 billion.
PMIERs excess Available Assets were $1.7 billion, or 41% over the Minimum Required Assets.
Net income was $146 million, or $0.91 per diluted share.
Forward Guidance
Radian Guaranty expects to pay a total of between $300 million to $400 million of ordinary dividends to Radian Group during 2023, based on current performance expectations. Under the 2023 QSR Agreement, Radian expects to cede 22.5% of policies issued between July 1, 2023, and June 30, 2024, subject to certain conditions.
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Avg. Return Before/After Earnings
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