Radian(US:RDN)2022-05-13 02:28Financial Performance - Radian's net income was $181.1 million in Q1 2022 [7], compared to $125.6 million in Q1 2021 [7], and $193.4 million in Q4 2021 [7] - Diluted net income per share was $1.01 in Q1 2022 [7], compared to $0.64 in Q1 2021 [7], and $1.07 in Q4 2021 [7] - Adjusted diluted net operating income per share was $1.17 in Q1 2022 [7], compared to $0.68 in Q1 2021 [7] - Return on average equity was 17.2% in Q1 2022 [8], compared to 11.8% in Q1 2021 [8] - Adjusted net operating return on average equity was 19.9% in Q1 2022 [8], compared to 12.4% in Q1 2021 [8] Insurance Portfolio - Primary insurance in force was $249.0 billion in Q1 2022 [10], reflecting a 10.3% year-over-year increase in monthly premium policies [10], offset by a 19.1% decline in single premium policies [10] - New insurance written was $18.7 billion in Q1 2022 [11], compared to $20.2 billion in Q1 2021 [11] - Net mortgage premiums earned were $245.2 million in Q1 2022 [11], compared to $264.7 million in Q1 2021 [11] Loss Reserves and Defaults - Provision for losses was $(83.8) million in Q1 2022 [12], compared to $46.1 million in Q1 2021 [12] - Reserve for losses and loss adjustment expense was $727.2 million in Q1 2022 [13], compared to $887.4 million in Q1 2021 [13] - The percentage of loans in default was 2.6% [63], with 50.4% of those loans in forbearance programs [63] Capital and Liquidity - Available holding company liquidity was $1.0 billion in Q1 2022 [8] - Investment portfolio was $6.3 billion in Q1 2022 [8] - PMIERs excess available assets were $1.6 billion in Q1 2022 [14], representing a 44% cushion [24]