MGIC Q2 FY26 net income falls 5.4% to $182.1 million

MGIC repurchased $176.6 million of stock in the quarter; declared a $0.17 per-share dividend payable Aug. 20 and authorized an additional $750 million buyback through 2028.

MGIC Investment Corporation posted Q2 2026 net income of $182.1 million, or $0.86 per diluted share, versus $165.3 million in Q1 2026.

Adjusted net operating income (non-GAAP) edged up to $183.7 million, or $0.87 per diluted share, from $165.1 million in Q1 2026.

New insurance written rose to $17.8 billion from $14.4 billion in Q1 2026; insurance in force increased to $304.8 billion from $302.7 billion.

Losses incurred narrowed to $11 million from $33.2 million in Q1 2026; the loss ratio improved to 4.6% from 14.1%.