Achieved record gross profit of $111,000,000, a 73% year-over-year increase, driven by nine consecutive quarters of accelerating top-line growth and improving unit economics. Narrowed adjusted EBITDA loss to $5,000,000, representing a $19,000,000 improvement over the prior year as the business nears GAAP profitability. Generated $37,000,000 in positive adjusted free cash flow, marking the second consecutive year of swelling cash reserves due to insurance cash flows preceding GAAP accounting recognitio ...

Key Takeaways Radian Group beat Q4 estimates with EPS of $1.16 and revenue of $302 million.RDN saw MI's new insurance written surge 20.2% to $15.9B, boosting premiums.RDN returned $576M in 2025 as book value rose 12.6% to $35.29 per share.Radian Group Inc. (RDN) reported fourth-quarter 2025 adjusted operating income of $1.16 per share, which beat the Zacks Consensus Estimate by 4.5%. The bottom line improved 2.7% year over year.Operating revenues increased 0.8% year over year to $302 million, driven by high ...

Radian Group (NYSE:RDN) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsBob Lally - VP of FinanceBose George - Managing DirectorDan Kobell - Senior Executive Vice President and Interim CFORick Thornberry - CEOConference Call ParticipantsMihir Bhatia - Director and Senior Equity Research AnalystTerry Ma - Director and Equity Research AnalystOperatorToday, and thank you for standing by. Welcome to the fourth quarter 2025 Radian Group conference call. At this time, all participants are ...

Radian Group (NYSE:RDN) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsBob Lally - VP of FinanceBose George - Managing DirectorDan Kobell - Senior Executive Vice President and Interim CFORick Thornberry - CEOConference Call ParticipantsMihir Bhatia - Director and Senior Equity Research AnalystTerry Ma - Director and Equity Research AnalystOperatorToday, and thank you for standing by. Welcome to the Q4 2025 Radian Group conference call. At this time, all participants are in a listen- ...

Financial Data and Key Metrics Changes - For Q4 2025, the company reported net income from continuing operations of $159 million, or $1.15 per share, and for the full year, net income was $618 million, or $4.39 per share, reflecting strong earnings and an 8% reduction in share count [11][12] - Total revenues for Q4 were $301 million and $1.2 billion for the full year, with net premiums earned reaching $237 million in Q4, the highest level in over three years [12][13] - The return on equity was 13.5% in Q4 and 13.1% for the full year, with book value per share growing 13% year-over-year to $35.29 [12][13] Business Line Data and Key Metrics Changes - The mortgage insurance business saw growth in insurance in force and new insurance written (NIW), with NIW increasing 6% year-over-year [12][13] - The in-force premium yield for the mortgage insurance portfolio remained stable at 38 basis points, expected to remain stable in 2026 [15][36] Market Data and Key Metrics Changes - The company maintained a strong persistency rate of 82% in Q4, with approximately half of the insurance in force portfolio having a mortgage rate of 5.5% or lower, indicating less likelihood of cancellation due to refinancing [14] - The total number of defaults increased to approximately 25,000 loans at quarter end, resulting in a portfolio default rate of 2.56%, reflecting normal seasonal trends [16] Company Strategy and Development Direction - The acquisition of Inigo marks a strategic transformation for the company, positioning it to expand into a global multi-line specialty insurer, expected to double annual revenues and provide greater strategic flexibility [5][6] - The divestiture plan for mortgage, conduit, title, and real estate services businesses is on track for completion by Q3 2026, aligning leadership with strategic focus [8][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong performance of the mortgage insurance business and the positive credit trends, with no significant concerns noted across different credit segments [32] - The company anticipates continued strong capital returns and liquidity, with expected dividends of at least $600 million from Radian Guaranty in 2026 [21][22] Other Important Information - The company distributed $795 million from Radian Guaranty to the holding company and returned $576 million to stockholders through dividends and share repurchases in 2025 [4][18] - The holding company liquidity was expanded to $1.8 billion at year-end, supporting the Inigo acquisition [20] Q&A Session Summary Question: Any updated thoughts on financial metrics for Inigo? - Management confirmed no changes from previous guidance, expecting a mid-teens return through the cycle from the Inigo acquisition, translating to approximately $170 million of incremental net income [27][28] Question: How sticky can the 90% cure rate be for recent vintages? - Management noted that while recent vintages are being monitored, strong cure activity continues, and no significant concerns have been observed in credit trends [31][32] Question: How does the current pricing environment compare to a year ago? - The in-force premium yield has remained stable at 38 basis points, indicating a balanced pricing perspective, with management focusing on economic value rather than market share [35][36] Question: What is the expected combined ratio for Inigo? - Management indicated that while no forward guidance has been provided, a mid- to high-80% combined ratio is a reasonable trend based on Inigo's historical performance [40] Question: Will there be intangibles that need to be amortized from the acquisition? - Management confirmed that there will be intangibles, and details will be provided in future reports as purchase accounting is completed [50]

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Turning to slide four, our strong full year operating results drove nearly 12% growth in our adjusted operating earnings supported by stable fee income and increased investment spread earnings. Our commitment to shareholder capital return, and the benefit of share repurchases resulted in over 20% growth in adjusted operating earnings per share for the full year. As a reminder, our net income includes the impact of our annual assumption review and net hedge results, which Don will discuss. Over the course of ...

Jackson Financial (NYSE:JXN) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsDon Cummings - CFOLaura Prieskorn - CEOLiz Werner - Head of Investor RelationsLynn Sun - Chief ActuaryTom Gallagher - Senior Managing DirectorConference Call ParticipantsAlex Scott - Director and Senior Equity Research AnalystSuneet Kamath - Research AnalystOperatorHello, everyone, and welcome to the Jackson Financial 4Q25 Earnings Call. My name is Charlie, and I'll be coordinating the call today. You will h ...

Financial Data and Key Metrics Changes - Jackson Financial reported adjusted operating earnings of $455 million for Q4 2025, reflecting continued strength across spread-based products and a 12% growth in adjusted operating earnings for the full year [5][13] - The company achieved over $1 billion in free capital generation for the second consecutive year, with free cash flow totaling $838 million for the full year [6][36] - Adjusted operating earnings per share increased by 33% to $6.43, driven by strong spread income growth and a lower diluted share count [16][18] Business Line Data and Key Metrics Changes - Retail annuity sales reached nearly $20 billion for the full year, the highest level since 2019, with a record $2.3 billion in RILA sales for Q4, up 53% year-over-year [6][10] - The retail annuity segment delivered 27% growth over last year's fourth quarter, with RILA assets under management growing to over $20 billion [18][22] - Fixed index annuity sales contributed $812 million during the quarter, indicating strong momentum in the product lineup [19][22] Market Data and Key Metrics Changes - Total retail annuity account values increased by 7% to $269 billion at year-end 2025, supported by strong sales in RILA and fixed index annuities [7][10] - Variable annuity net outflows remained elevated, reflecting an aging policyholder base and market conditions, but were offset by strong investment performance generating over $28 billion [20][21] - The RBC ratio stood at 567%, indicating a strong capital position above the minimum target [7][41] Company Strategy and Development Direction - Jackson Financial closed a strategic partnership with TPG to support accelerated growth in its spread-based business, enhancing capital efficiency and product offerings [5][12] - The company aims to leverage its diversified product suite to meet various consumer needs, focusing on income, protection, growth, and legacy benefits [61] - Future growth targets include free capital generation of at least $1.2 billion for 2026 and a capital return target of $900 million to $1.1 billion [12][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining a balanced approach to capital management, focusing on financial strength, growth, and capital return to shareholders [6][8] - The partnership with TPG is expected to enhance profitability and support the growth of the spread-based business, with a positive outlook for retail annuity sales [62][64] - Management anticipates that surrender activity will remain closely tied to equity market performance, with expectations for improved actual-to-expected results in 2026 [21][78] Other Important Information - The company returned over $862 million to common shareholders in 2025, exceeding its capital return target range [7][38] - Jackson's annual actuarial assumptions review resulted in a favorable impact on operating earnings, reflecting improved mortality trends [17][30] - The establishment of Hickory Re as a subsidiary is expected to contribute to future cash flows and enhance the capital profile of Brook Re [48][50] Q&A Session Summary Question: Can you provide more details on capital levels and tracking? - Management discussed the progress of Brook Re and its diversified liability profile, highlighting recent reinsurance transactions that enhance stability [47][48] Question: What is the expected impact of the TPG partnership on growth? - Management indicated that the partnership will support strong retail annuity sales and enhance product offerings, with expectations for growth in the coming years [56][62] Question: How will cash flow from Hickory Re be managed? - It was clarified that dividends from Hickory Re would flow up to Brook Re and then to the holding company, supporting ongoing capital return strategies [65][66]

Trisura Group (OTCPK:TRRS.F) Fireside chat February 19, 2026 10:00 AM ET Company ParticipantsDavid Clare - CEOConference Call ParticipantsDoug Young - Managing Director and Senior Equity AnalystOperatorGood morning, everyone, and we apologize for the delay this morning. Thank you for joining us on today's call with David Clare, CEO of Trisura Group, and Doug Young, Bank and Insurance analyst at Desjardins. A quick reminder before we begin, as attendees, you are in listen-only mode. You will be able to submi ...