Busy quarter for MGIC Investment

• Q2 net income of $113.7M or $0.28 per share vs. $45.5M and $0.12 one year ago.
• New insurance written of $11.8B up 42% Y/Y. Insurance in force of $168.8B up 5.9%. Primary delinquent inventory of 66,357 loans down 22.3%. Annual persistency of 80.4% vs. 82.4%. Risk-to-capital ratio of 14.8:1 vs. 17.3:1.
• Percentage of loans delinquent, excluding bulk loans, of 5.48% vs. 7.3% one year ago.
• Losses incurred of $90.2M vs. $141.1M a year ago.
• Management expects full-year NIW to exceed that of 2014, but not as high of an amount as seen in H1. Full-year persistency is expected to be 80-85%. Delinquent inventory should gradually decrease. The company anticipates being in compliance with PMIERS when they become effective at year-end
• Conference call at 10 ET
• Previously: MGIC Investment beats by $0.05, misses on revenue (July 16)
• MTG flat premarket