RADIAN GROUP INC
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 6, 2026
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Results of Operations—Corporate Category
The following table summarizes the results of operations for our Corporate category for the periods indicated.
| Summary results of operations - Corporate | ||||||
|---|---|---|---|---|---|---|
| Three Months EndedSeptember 30, · ChangeFavorable(Unfavorable) · Nine Months EndedSeptember 30, · ChangeFavorable(Unfavorable) | ||||||
| (In thousands) | 2026 | 2025 | 2026 vs. 2025 | 2026 | 2025 | 2026 vs. 2025 |
| Revenues | ||||||
| Net investment income | $3,444 | $11,434 | $(7,990) | $16,596 | $32,376 | $(15,780) |
| Total revenues | 3,444 | 11,434 | (7,990) | 16,596 | 32,376 | (15,780) |
| Expenses | ||||||
| Other operating expenses | 15,845 | 14,414 | (1,431) | 43,267 | 46,032 | 2,765 |
| Interest expense | 26,650 | 16,077 | (10,573) | 82,009 | 48,692 | (33,317) |
| Total expenses | 42,495 | 30,491 | (12,004) | 125,276 | 94,724 | (30,552) |
| Adjusted pretax operating income (loss) (1) | $(39,051) | $(19,057) | $(19,994) | $(108,680) | $(62,348) | $(46,332) |
(1)
Our senior management uses adjusted pretax operating income as our primary measure to evaluate the fundamental financial performance of our business segments. See Note 5 of Notes to Unaudited Condensed Consolidated Financial Statements for more information.
The increase in adjusted pretax operating loss for our Corporate category activities for the three and nine months ended September 30, 2026, compared to the same periods in 2025, is primarily due to a $10 million increase in interest expense in each of the first, second and third quarters of 2026 related to interest payable on the Intercompany Note issued by Radian Guaranty to Radian Group in connection with the Inigo acquisition. A corresponding amount is reported as net investment income for the Mortgage segment and both amounts are eliminated in consolidation. In addition, net investment income decreased in the three and nine months ended September 30, 2026, compared to the same periods in 2025, primarily as a result of utilizing cash and investments from Radian Group’s portfolio to fund the acquisition of Inigo.
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