NMI (US:NMIH) Globenewswire·2025-07-29 20:01Core Insights - NMI Holdings, Inc. reported a net income of $96.2 million for Q2 2025, a decrease from $102.6 million in Q1 2025 but an increase from $92.1 million in Q2 2024, with diluted EPS at $1.21 [1][4] - The company highlighted strong operating performance and growth in its insured portfolio, with a robust balance sheet and significant earnings power [2] Financial Performance - Adjusted net income for Q2 2025 was $96.5 million, down from $102.5 million in Q1 2025 but slightly up from $97.6 million in Q2 2024 [1][4] - Total revenue for Q2 2025 was $173.8 million, compared to $173.2 million in Q1 2025 and $162.1 million in Q2 2024 [4] - Net premiums earned were $149.1 million, a slight decrease from $149.4 million in Q1 2025 but an increase from $141.2 million in Q2 2024 [4] Insurance Metrics - Primary insurance-in-force reached $214.7 billion, up 2% from $211.3 billion in Q1 2025 and 5% from $203.5 billion in Q2 2024 [3][4] - New insurance written (NIW) was $12.5 billion, a significant increase of 35% from $9.2 billion in Q1 2025, with no year-over-year change [3] Claims and Expenses - Insurance claims and claim expenses rose to $13.4 million, a substantial increase from $4.5 million in Q1 2025 and $0.3 million in Q2 2024, resulting in a loss ratio of 9.0% [4][5] - Underwriting and operating expenses were $29.5 million, down from $30.2 million in Q1 2025 but up from $28.3 million in Q2 2024, leading to an expense ratio of 19.8% [4][5] Shareholder Metrics - Shareholders' equity at the end of Q2 2025 was $2.4 billion, with a book value per share of $31.14, up 4% from $30.85 in Q1 2025 and 16% from $27.54 in Q2 2024 [4][5] - The annualized return on equity for the quarter was 16.2%, down from 18.1% in Q1 2025 and 18.3% in Q2 2024 [4][5]