MGIC Investment Corporation's third quarter 2026 EPS beats while NIW of $17.1B exceeds expectations

MGIC Investment Corporation reported third quarter 2026 results featuring an earnings beat and strong New Insurance Written (NIW) volume, although total revenue fell short of analyst estimates. The company continued its aggressive capital return strategy through significant share repurchases and dividends.

Key Highlights

• New Insurance Written (NIW) reached $17.1 billion, outperforming the $14.2 billion estimate and growing 3.6% year-over-year.
• The company repurchased 5.1 million shares for $152.5 million during the quarter, with an additional 2.5 million shares repurchased for $70.2 million in October 2026.
• Insurance in Force (IIF) grew to $307.3 billion, a 2.2% increase from $300.8 billion in the third quarter of 2025.
• Credit quality remained stable with a primary delinquency rate of 2.52%, though the net premium yield compressed slightly to 31.2 basis points from 32.3 basis points YoY.