Radian Group (RDN)

[56Chevy]

Enterprising Investor writes:

Old PMI companies even with huge legacy issues can outperform new entrants.

Rob Chrisman writes:

But in general, older MI companies are seeing profits on new insurance policies offsetting legacy losses, and newer companies such as Essent or National MI not having the older book of business act as a tire tied to one's leg during a race.

It would seem that not having legacy issues at all would be ideal for profits but what you're saying is having the book of business (i.e. pre-existing customers) to draw from is even better?