MGIC Investment Corporation
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- MGIC Investment Corporation (NYSE: MTG), founded in 1957 and headquartered in Milwaukee, Wisconsin, operates as a holding company that, through wholly-owned subsidiaries including Mortgage Guaranty Insurance Corporation, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services such as underwriting and products related to home mortgage lending to lenders throughout the United States, Puerto Rico, and Guam. The company offers core products including primary mortgage insurance for homebuyers with low down payments, pool mortgage insurance, and excess-of-loss reinsurance arrangements; insurance premiums constitute the majority of revenue, supplemented by investment income, with primary exposure in states such as California, Florida, Texas, Pennsylvania, Ohio, Illinois, Virginia, North Carolina, Georgia, and New York. In recent developments, MGIC amended its 2022 quota share reinsurance transaction to reduce the cede rate from 30% to 28% effective December 31, 2025, agreed to a new 40% quota share reinsurance transaction covering eligible new insurance written in 2027, executed two excess-of-loss reinsurance deals providing $344 million in coverage for new defaults in the first half of 2025 and additional $250 million effective December 1, 2025, repurchased approximately 7 million shares for $188 million in the third quarter of 2025 and announced an additional $750 million share repurchase program through 2027, increased its quarterly dividend by 15% to $0.15 per share, became the first mortgage insurer to directly manage its functionality within the ICE Mortgage Technology Encompass Partner Connect platform in October 2025 to accelerate product enhancements, and received a positive outlook revision from S&P along with Moody's ratings upgrades in 2025 reflecting robust capital adequacy and profitability.
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