MGIC beats expectations, but new insurance written underwhelms

New business volume rises in Q2. In Q2 2018, PMIs produced about $80.3 billion of new insurance written (NIW), up 14% from Q2 2017. For the first half of 2018, NIW totaled $138.8 billion while production was also up 14% on the year. Premium rate cuts highlight competitive pressure. In April 2018, MGIC (senior Ba2) reduced its premium rates on.

New insurance written of $47.9 billion improved 11% from 2015. The insurer expects to write lower new insurance in 2017 than 2016 due to the current market conditions and a smaller origination market.

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MGIC beats expectations, but new insurance written underwhelms mgic Investment Corp. posted better-than-expected first-quarter earnings as expenses were lower than projected while net premiums came in higher.

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MGIC Investment’s fourth-quarter 2016 earnings beat our expectations and also improved year over year, primarily on the back of higher revenues, improved new insurance written.

MGIC Investment Corporation (MTG) reported fourth-quarter net income of $74.4 million, compared with a net loss of $1.4 million for the same quarter a year ago. Diluted net income per share was $0.

 · MGIC saw its net income and new insurance written spiral in the fourth quarter. New insurance written saw losses of nearly 30% from the last quarter. However, this drop was not unexpected, and the company CEO focused on the positive aspects of the report.

NEW YORK ( TheStreet) — Small-cap oil companies were rallying Wednesday, with a renewed surge in crude oil prices driving buying interest. Lucas Energy ( LEI) was gaining on unusually high.

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