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MGIC Investment Corporation Reports Q3 2026 Results

On November 4, 2026, MGIC Investment Corporation (NYSE: MTG) released its financial results for the third quarter of 2026, highlighting a net income of $175.0 million, equivalent to $0.85 per diluted share. This performance demonstrates the company's consistent strength, with CEO Tim Mattke emphasizing the importance of a disciplined strategy cultivated over nearly seventy years of navigating various market cycles.

Financial Highlights

In Q3 2026, MGIC reported the following key financial metrics:

• - Net income: $175.0 million (down from $182.1 million in Q2 2026 and $191.1 million in Q3 2025)
• - Adjusted net operating income: $174.7 million, also at $0.85 per share
• - New insurance written (NIW): $17.1 billion, showing a slight decrease compared to $17.8 billion in the previous quarter but an increase from $16.5 billion a year ago
• - Net premiums earned: $238.5 million
• - Insurance in force: $307.3 billion, reflecting continued growth

The annual persistency rate stood at 82.5%, a minor drop from 83.3% in Q2 2026, indicating a slight shift in customer retention. Losses incurred during the quarter were reported at $23.9 million, substantially higher than the $11 million incurred in Q2 2026.

Strategic Developments

During the third quarter, MGIC pursued strategies to enhance shareholder value:

• - Share Repurchase Program: The company repurchased 5.1 million common shares for $152.5 million, signaling confidence in its long-term prospects.
• - Dividend Payment: A quarterly dividend of $0.17 per common share was declared, reaffirming the company's commitment to returning value to shareholders.
• - Reinsurance Transactions: MGIC executed a traditional excess-of-loss reinsurance agreement, securing up to $168 million of financial protection against eligible NIW for 2027.

Looking Forward

For the upcoming fourth quarter, MGIC has outlined several key initiatives:

• - New Reinsurance Agreements: The company has agreed to a 40% quota share reinsurance transaction for eligible 2028 NIW and a 20% arrangement for 2029 NIW.
• - Additional Share Repurchases: In October, another 2.5 million shares were repurchased for $70.2 million, enhancing shareholder equity.
• - Fourth Quarter Dividends: Another dividend of $0.17 per common share has been declared, highlighting ongoing financial stability and shareholder appeal.

Management Insights

CEO Tim Mattke noted, "The results from this quarter assert our business's resilience and our commitment to navigating market challenges effectively. By continuing to focus on financial strength and customer service, we are positioning MGIC for sustainable, long-term growth." This perspective is affirmed by the company’s ongoing initiatives in capital management and operational efficiency.

Conclusion

Overall, MGIC Investment Corporation’s Q3 2026 results reflect a strong position in a competitive market landscape. The steps taken to adapt and innovate in the face of economic fluctuations underscore the company’s commitment to maintaining its leadership in the mortgage insurance sector. Stakeholders are encouraged to participate in the upcoming conference call on November 5, 2026, to gain deeper insights into these results and future strategies. For more information, visit MGIC's official website or access the conference call details through the provided link.

With a history marked by strategic growth and adaptability, MGIC continues to be a pivotal player in the mortgage insurance arena, continually seeking to enhance the value it provides to its customers and shareholders alike.