MGIC Investment (US:MTG)2025-04-30 22:34Risk in Force Composition - The original risk written in 2025 was $2.6 billion, with 99.4% remaining [6] - The original risk written in 2004 & Prior was $181.5 billion, with only 0.2% remaining [6] - Loans with an original LTV (loan-to-value) of 85% or less accounted for 3.7% of the primary risk in force as of March 31, 2025 [6] - Loans with an original LTV between 90.01% and 95.00% accounted for 53.3% of the primary risk in force as of March 31, 2025 [6] - Loans with FICO scores of 760 and greater represent 44.0% of the primary risk in force [6] Delinquency and Losses - The delinquency rate (based on loan count) was 2.3% [7] - Ever-to-date claims paid for the 2005-2008 origination year reached $13,388.3 million [7] - New notices previously delinquent accounted for 66.8% [7] Financial Performance - Net losses incurred for Q1 2025 were $10 million, after considering prior period development [12] - Direct primary loss reserves totaled $404 million as of March 31, 2025 [13] Capital and Risk Management - Total PMIERs (Primary Mortgage Insurer Eligibility Requirements) Primary Minimum Required Assets were $5,749 million, with $3,310 million retained [11] - The company ceded 42% of its risk through various reinsurance arrangements [11] - Scheduled Contingency Reserve Releases for 2025 totaled $457 million [39], with $112 million released as of March 31, 2025 [40]