Every material Form 8-K NMI Holdings filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
NMI Holdings reported third-quarter 2024 net income of $92.8 million, or $1.15 per diluted share, up from $84.0 million, or $1.00 per share, a year earlier. Total revenue rose to $166.1 million from $148.2 million, and primary insurance-in-force reached $207.5 billion. The company also said it entered new quota share and excess-of-loss reinsurance agreements covering new business written from January 1, 2025 through December 31, 2027.
Q3 2024 net income $92.8 million, up 11% from $84.0 million in Q3 2023 and up 1% from $92.1 million in Q2 2024
Diluted EPS $1.15, versus $1.00 a year earlier and $1.13 in Q2 2024
Adjusted net income $92.8 million, down 5% from $97.6 million in Q2 2024
New reinsurance agreements cover new business originated between January 1, 2025 and December 31, 2027
NMI Holdings reported record second-quarter 2024 results on July 30, 2024, with net income of $92.1 million, or $1.13 per diluted share, up from $80.3 million, or $0.95 per share, a year earlier. Adjusted diluted EPS was $1.20, excluding non-recurring capital markets transaction costs tied to a second-quarter debt refinancing, and primary insurance-in-force reached $203.5 billion.
Q2 2024 net income was $92.1 million, up 15% from $80.3 million in Q2 2023 and up 3% from $89.0 million in Q1 2024.
Diluted EPS was $1.13, up from $0.95 a year earlier; adjusted diluted EPS was $1.20, excluding $7.0 million of capital markets transaction costs.
Total revenue was $162.1 million, compared with $142.7 million in Q2 2023.
Shareholders' equity was $2.0 billion at June 30, 2024, and book value per share was $25.65.
NMI Holdings closed a registered offering of $425 million of 6.000% senior notes due August 15, 2029, with net proceeds of about $414.3 million. The company plans to use the proceeds to redeem its 7.375% senior secured notes due 2025 and for general corporate purposes, and it also terminated its 2021 revolving credit facility and entered a new credit agreement on the same date. For shareholders, this is a refinancing of existing debt that adds new long-term borrowings.
Closed $425 million of 6.000% senior notes due August 15, 2029, with net proceeds of about $414.3 million
Proceeds intended to satisfy and redeem the 7.375% senior secured notes due 2025, with redemption set for May 22, 2024
Interest payable semi-annually on February 15 and August 15, beginning February 15, 2025
2021 Revolving Credit Facility terminated on May 21, 2024; new revolving credit facility with Royal Bank of Canada as administrative agent
NMI Holdings reported first-quarter 2024 net income of $89.0 million, or $1.08 per diluted share, up from $74.5 million, or $0.88 per share, a year earlier, and described the quarter as a record. Total revenue rose to $156.3 million from $136.8 million, and the loss ratio fell to 2.7% from 5.5%, which supports earnings for shareholders.
Net income was $89.0 million, up 7% from $83.4 million in the fourth quarter of 2023 and up 20% from $74.5 million in the first quarter of 2023.
Diluted EPS was $1.08, compared with $1.01 in the fourth quarter of 2023 and $0.88 in the first quarter of 2023.
Primary insurance-in-force was $199.4 billion at March 31, 2024, up from $186.7 billion a year earlier.
Book value per share was $24.56, and book value per share excluding net unrealized gains and losses was $26.42.
NMI Holdings, Inc. said Aurora Swithenbank, formerly CFO of Vantage Group Holdings Ltd., will become Executive Vice President and Chief Financial Officer effective May 1, 2024, succeeding Ravi Mallela, who is leaving the company on the same date in an involuntary termination without cause. The filing says his departure is not the result of any disagreement over financial disclosures, accounting, operations, policies or practices. The change is a senior executive transition that shareholders may watch for continuity in financial leadership.
Aurora Swithenbank becomes EVP and CFO effective May 1, 2024, with a base salary of $505,000 and a target bonus of 100% of base salary
Her one-time inducement equity award has a grant date value of $1,500,000 in restricted stock units
Ravi Mallela, CFO since 2022, leaves effective May 1, 2024; his separation severance payment is $252,500
The company said Mallela's departure involves no issues or disagreements relating to financial disclosures or accounting
NMI Holdings reported fourth-quarter 2023 net income of $83.4 million, or $1.01 per diluted share, up from $72.9 million, or $0.86, a year earlier. For the full year, net income was $322.1 million, or $3.84 per diluted share, compared with $292.9 million, or $3.39, in 2022. Results were slightly below the third quarter in net income terms, but per-share earnings were higher than in both the prior quarter and the prior year.
Q4 2023 net income was $83.4 million, or $1.01 per diluted share, versus $72.9 million, or $0.86, in Q4 2022 and $84.0 million, or $1.00, in Q3 2023.
Full-year 2023 net income was $322.1 million, or $3.84 per diluted share, versus $292.9 million, or $3.39, in 2022.
Primary insurance-in-force was $197.0 billion at December 31, 2023, up from $184.0 billion a year earlier.
Book value per share excluding net unrealized gains and losses was $25.54, up from $21.76 at December 31, 2022.
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.
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