MGIC Investment Corporation: How Is It Dealing With Challenges of Market Dynamics and Mortgage Affordability?

MGIC Investment Corporation reported its financial results for the second quarter of 2024, demonstrating a solid performance with sustained earnings and robust capital management strategies. The company reported net income of $204 million and a substantial annualized return on equity of 16%, reflecting its continued financial health and profitability. A key driver of revenue, MGIC’s insurance in force, stood at $292 billion, showing a slight increase over the quarter, which signals stability in this core aspect of its business. Furthermore, the company experienced a persistence rate of 85%, which although slightly down for the quarter, still underscores a strong customer retention rate.