Comparing the current results to its competitors, Mgic Investment reported Revenue decrease in the 2 quarter 2026 year on year by -2.91 %, faster than the overall decrease of Mgic Investment's competitors by -1.83 %, recorded in the same quarter.
Mgic Investment Corp Net Income in the 2 quarter 2026 fell year on year by -5.37%, while most of its competitors have experienced a contraction in net income by -13.58 %.
Mgic Investment's Comment on Competition and Industry Peers
The company primarily competes with federal and state governmental and quasi-governmental agencies that sponsor government-backed mortgage insurance programs, specifically the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the United States Department of Agriculture (USDA). In 2025, the FHA accounted for 34.3% of low down payment residential mortgages subject to mortgage insurance, while the VA held a 22.8% market share in 2023.
The private mortgage insurance industry also faces competition from alternatives such as risk mitigation and credit risk transfer techniques employed by investors, capital market transactions conducted by government-sponsored enterprises (GSEs) and banks, lenders self-insuring, and piggyback loans. The GSEs have initiated secondary mortgage market programs involving reinsurers not governed by Private Mortgage Insurer Eligibility Requirements (PMIERs), which compete with traditional private mortgage insurance; the company participates in these programs through an affiliate. Additional forms of credit enhancement include credit-linked note transactions and securitizations that transfer credit risk to other investors, including competitors and an affiliate of MGIC.
Competition within the private mortgage insurance industry is intense and includes price competition. Private mortgage insurers are subject to comprehensive regulation by state insurance departments, including in Wisconsin, the company’s domiciliary state.
September 20, 2024
MGIC Investment Corporation Sees Credit Ratings Upgraded by AM Best Amid Financial Growth OLDWICK, N.J. In a significant development for MGIC Investment Corporation NYSE: MTG, AM Best has upgraded the Financial Strength Rating (FSR) of the company s operating subsidiaries to A (Excellent) from A- (Excellent). Additionally, the Long-Term Issuer Credit Rating (ICR) has been elevated to a (Excellent) from a- (Excellent). These positive adjustments reflect increasing strength in MGIC s financial profile and operational efficacy. The affected entities include Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, and MGIC Assurance Corporation, all domiciled in Milwaukee, WI.This rating upgrade co...
Genworth Financial Inc's business model revolves around providing insurance and financial solutions, focusing primarily on long-term care insurance, life insurance, mortgage insurance, and annuities. Their aim is to help individuals and families protect themselves financially, manage risks, and plan for the future.
Enact Holdings Inc operates as a private mortgage insurance company. It provides mortgage insurance products and services to lenders, helping them mitigate risk associated with low down payment residential mortgages.
Arch Capital Group Ltd operates as a global insurance and reinsurance company, providing risk management solutions to clients worldwide. Their business model involves underwriting various lines of insurance and reinsurance policies, generating revenue through premiums received, and managing risk through diversification and prudent investment strategies.
Radian Group Inc operates as a mortgage insurance company, providing private mortgage insurance, risk management products, and mortgage services in the United States. The company works with lenders to mitigate mortgage credit risk and offers various solutions to enhance homeownership opportunities and facilitate the sale of mortgage-related assets.
Nmi Holdings Inc operates as a private mortgage insurance company. They provide mortgage insurance products and related services to lenders and government sponsored entities, helping to protect them from credit losses on low down payment residential mortgage loans. Their business model primarily revolves around underwriting mortgage insurance and collecting premiums from lenders in exchange for assuming credit risk.
Sources:
Mgic Investment Corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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