MGIC Investment Corporation
mgic.comWhat Do They Do?
Provides private mortgage insurance and mortgage credit risk management services to residential mortgage lenders.
10-K for FY2025, filed Feb 25, 2026We are a holding company and through wholly-owned subsidiaries we provide private mortgage insurance, other mortgage credit risk management…View ↗
Primary insurance provides mortgage default protection on individual loans and covers a percentage of the unpaid loan principal, delinquent…View ↗
CustomersView ↗
How Do They Make Money?
Mortgage lenders pay premiums for insurance on individual home loans. Monthly premiums pay for coverage as it is provided, while annual and single premiums are spread over time.
10-K for FY2025, filed Feb 25, 2026We write policies which are guaranteed renewable at the insured's option on a monthly, single, or annual premium basis. We have no ability…View ↗
Primary insurance provides mortgage default protection on individual loans and covers a percentage of the unpaid loan principal, delinquent…View ↗
CustomersView ↗
$1.2B
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10-K for FY2025, filed Feb 25, 2026
$1.2B ↗
Who Are Their Customers?
Mortgage originators—including banks, brokers, credit unions and mortgage bankers—are customers. The company’s employees sell its insurance, and lenders apply for a master policy to obtain coverage.
Do Revenues Turn Into Profits?
Yes. It kept 61 cents of every revenue dollar as net income in FY2025 and turned 70 cents into free cash flow.
How Are They Changing?
Flat. Revenue was $1.2B in FY2025, about the same as the $1.2B of FY2021.
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