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AI brief of an SEC Form 8-K · MGIC Investment (MTG)

MGIC Q3 2024 net income rises to $200.0 million, or $0.77 per diluted share

Positive Impact 3 of 5 earnings Written later

MGIC Investment Corporation reported third quarter 2024 net income of $200.0 million, or $0.77 per diluted share, up from $0.64 a year earlier and equal to the prior quarter's $0.77. The company also said it agreed on terms for a 40% quota share reinsurance transaction covering most of its 2025 and 2026 new insurance written, and it will terminate its 2021 quota share transaction effective December 31, 2024, with expected termination fees of about $8 million.

Key points

  • Q3 2024 net income was $200.0 million, or $0.77 per diluted share, versus $0.64 in Q3 2023 and $204.2 million, or $0.77 per share, in Q2 2024.
  • Net premiums earned were $243.3 million, compared with $241.3 million in Q3 2023. Annualized return on equity was 15.6%, versus 15.1% a year earlier.
  • Agreed on terms for a 40% quota share reinsurance transaction with unaffiliated reinsurers covering most 2025 and 2026 new insurance written.
  • Repurchased 5.2 million shares for $122.9 million in Q3 2024 and declared a $0.13 per share dividend payable November 21, 2024.

The filing

CompanyMGIC Investment (MTG)
Form8-K, current report
Filed with the SECNov 4, 2024, 4:05 PM ET
Accession number0000876437-24-000110

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.