MGIC Investment Reports Q3 2026 Results with Increased Delinquency Rates
MGIC Investment (MTG) reported third-quarter net income of $175 million, a decrease from the $191.1 million recorded in the same period last year. Despite the drop in net income, diluted earnings per share rose slightly to $0.85 compared to $0.83 a year ago. The company saw growth in its core business, with new insurance written increasing by 3.6% to $17.1 billion and total insurance in force reaching $307.3 billion. Management noted a normalization of credit performance, highlighted by a delinquency rate increase to 2.52%. This trend is attributed to newer loan vintages from 2022 onwards making up a larger portion of the portfolio. To manage risk and volatility, MGIC continues to utilize reinsurance programs and aggressive capital return strategies, including significant share repurchases and dividends.
Tickers: $MTG
Topics: dividend eps insurance written net income share repurchases