MGIC INVESTMENT CORP

For the period ended Dec 31, 2025. Filed Feb 25, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 25, 2026

MTG$28.50-0.3%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

MGIC Investment Corporation and Subsidiaries
Consolidated Statements of Operations
	Years Ended December 31,
(In thousands, except per share data)	Note	2025	2024	2023
Revenues:
Premiums written:
Direct		$1,114,049	$1,100,918	$1,105,027
Assumed		14,448	14,366	12,835
Ceded	7	(190,019)	(181,896)	(202,821)
Net premiums written		938,478	933,388	915,041
Decrease in unearned premiums, net		27,334	37,419	37,510
Net premiums earned	7	965,812	970,807	952,551
Investment income, net of expenses	5	246,258	244,640	214,740
Net gains (losses) on investments and other financial instruments	5	334	(9,846)	(14,141)
Other revenue		1,232	2,130	1,952
Total revenues		1,213,636	1,207,731	1,155,102
Losses and expenses:
Losses incurred, net	7 / 8	48,903	(14,861)	(20,856)
Amortization of deferred insurance policy acquisition costs		7,120	8,957	10,820
Other underwriting and operating expenses, net	14	193,473	209,324	226,004
Interest expense	3	35,603	35,602	36,905
Total losses and expenses		285,099	239,022	252,873
Income before tax		928,537	968,709	902,229
Provision for income taxes	16	190,190	205,715	189,280
Net income		$738,347	$762,994	$712,949
Earnings per share:	4
Basic		$3.17	$2.92	$2.51
Diluted		$3.14	$2.89	$2.49
Weighted average common shares outstanding - basic	4	232,975	261,684	283,605
Weighted average common shares outstanding - diluted	4	235,099	263,995	287,155

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.