MGIC Investment Reports $175 Million Net Income and $152.5 Million in Buybacks

MGIC Investment Corporation reported third-quarter 2026 net income of $175 million, or $0.85 per diluted share, and adjusted net operating income of $174.7 million, or $0.85 per diluted share. The Milwaukee-based mortgage insurer announced the results on November 4, 2026, according to PR Newswire.

Inside MGIC's Third-Quarter Results

MGIC Investment Corporation is the parent of Mortgage Guaranty Insurance Corporation, which provides private mortgage insurance that protects U.S. lenders and investors against credit losses on low-down-payment residential mortgages. Net income fell from $191.1 million in the third quarter of 2025 and from $182.1 million in the second quarter of 2026. Net premiums earned were $238.5 million, compared with $241.8 million a year earlier.

New insurance written was $17.1 billion, up from $16.5 billion in the third quarter of 2025. Insurance in force reached $307.3 billion. Losses incurred, net were $23.9 million, and the loss ratio was 10.0%, against 4.5% a year earlier. The primary delinquency inventory was 27,814 loans, and the count-based delinquency rate was 2.52%.

Chief Executive Tim Mattke said, "Our third quarter results demonstrate the continued strength and consistency of our business." Mattke added that the company remains focused on "maintaining financial strength, serving our customers and managing the business for the long term."

MGIC repurchased 5.1 million shares for $152.5 million and paid a dividend of $0.17 per common share during the quarter. It also executed a traditional excess-of-loss reinsurance transaction providing up to $168 million of coverage on eligible new insurance written in 2027. The quota share cede rate on its 2023 transaction will decrease from 25% to 23.98%, effective December 31, 2026.

MGIC's Reinsurance and Capital Moves

According to akta.pro company records, MGIC increased its quarterly dividend by 13% to $0.17 per share in July 2026 and appointed Antony D'Cruz as chief information officer that year. The same records show insurance in force of $302.7 billion as of the first quarter of 2026, covering 1.1 million mortgages, and first-quarter 2026 net income of $165.3 million.

What Led Up to the Results

MGIC declared the $0.17 quarterly dividend on October 29, 2026, payable November 23 to shareholders of record as of November 12, PR Newswire reported. MarketBeat reported on October 28, 2026, that analysts projected $0.8090 in earnings per share and $298.66 million in revenue for the quarter. In July 2026, MGIC reported second-quarter net income of $182 million, or $0.86 per share, alongside a 14.5% return on equity, AInvest reported.

MGIC's Fourth-Quarter Steps

MGIC agreed to terms for a 40% quota share reinsurance transaction covering eligible 2028 new insurance written and a 20% quota share transaction covering eligible 2029 new insurance written with unaffiliated reinsurers. The company declared a dividend of $0.17 per common share payable on November 23, 2026, to shareholders of record on November 12, 2026. In October it repurchased an additional 2.5 million shares for $70.2 million, and in November MGIC paid a $350 million dividend to the holding company. MGIC Investment will hold a conference call on November 5, 2026, at 10:00 a.m. ET.