Sunday, November 11, 2018 8:58:16 AM
A QUICK COMPARISON OF THE LEADING PMI COMPANIES risk to capital ratios. These numbers are from third quarter FINANCIAL results and SEC 10Q SEPTEMBER 2018.
MGIC FIRST AT 9.8 TO 1
RADIAN SECOND AT 11.4 TO 1.
NMI HOLDINGS THIRD 13.9 TO 1
ESSENT GUARANTY FOURTH AT 14.1 TO 1.
The higher capital level essentially gives MGIC a competitive advantage in PMI industry. The extra capital can be used to reduce reinsurance cost, payoff debt, strategic opportunity to build insurance portfolio, repurchase company stock or other equity enhancement opportunities.
MGIC waited untilf the final structure of PMIERS 2.0 regulatory requirements was completed to establish the level of capital cushion MGIC had in place.
Recent MTG News
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