MGIC Investment Reports Strong Q2 Earnings and Business Growth
MGIC Investment Corporation (NYSE: MTG) posted strong second-quarter results for 2026, reporting a net income of $182 million or $0.86 per diluted share. The performance was driven by favorable reserve development amounting to $43 million and reduced operating expenses. Book value per share increased by 10% year-over-year to $24.27, with an annualized return on equity (ROE) of 14.5%. New insurance written rose 8.5% from the previous year to $18 billion, while total insurance in force reached $305 billion, up 2.6% annually. Credit performance showed signs of normalization with a delinquency rate at 2.37%, higher than last year but still below historical levels and consistent with broader trends rather than concentrated issues. Management expects seasonal factors to contribute to increased delinquencies in the second half of 2026, though overall credit conditions remain stable. The company also announced a 13% increase in its quarterly dividend to $0.17 per share for the sixth consecutive year and repurchased $177 million worth of stock during the quarter.
Tickers: $MTG
Topics: finance mortgage insurance real estate