MGIC Investment (MTG) Q4 2025 Earnings Transcript

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Tuesday, Feb. 3, 2026 astatine 10 a.m. ET

• Chief Executive Officer — Timothy James Mattke

• Chief Financial Officer and Chief Risk Officer — Nathaniel Howe Colson

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Timothy James Mattke, Chief Executive Officer, and Nathaniel Howe Colson, Chief Financial Officer and Chief Risk Officer. Our property release, which contains MGIC Investment Corporation's 4th fourth fiscal results, was issued yesterday and is disposable connected our website astatine mtg.mgic.com nether Newsroom. It includes accusation astir our quarterly results that we volition notation during today's telephone arsenic good arsenic a reconciliation of non-GAAP fiscal measures to their astir comparable GAAP measures. In addition, we posted a quarterly supplement connected our website that provides details astir our superior hazard successful unit and different accusation you whitethorn find valuable.

As a reminder, from clip to time, we whitethorn station updates to our underwriting guidelines, further presentations, oregon corrections to past materials connected our website. Before we get started today, I privation to punctual everyone that during today's call, we whitethorn marque forward-looking statements regarding our expectations for the future. Actual results could disagree materially from those expressed successful these forward-looking statements. Additional accusation astir the factors that could origin existent results to disagree materially from those discussed successful today's telephone is included successful our 8-Ks filed yesterday. If we marque immoderate forward-looking statements, we are not undertaking an work to update those statements successful the aboriginal successful airy of consequent events.

No 1 should trust connected the information that specified guidance oregon forward-looking statements are existent astatine immoderate clip different than the clip of this telephone oregon the issuance of our 8-K. With that, I present person the pleasance of turning the telephone implicit to Timothy James Mattke. Thank you, Dianna, and bully morning, everyone.

Timothy James Mattke: We delivered different 4th of coagulated fiscal results, closing 2025 strong, and entering the caller twelvemonth from a presumption of strength. This show is simply a continuation of the sustained momentum we person built implicit the past respective years. Our show stems from being grounded successful decades of acquisition crossed a wide scope of marketplace cycles, disciplined hazard management, and a thoughtful, measured attack to the market. We brace our expertise with a customer-centric mindset, continually evolving to conscionable the changing needs of our customers and the broader market. Turning to a fewer fiscal highlights. In the quarter, we earned nett income of $169 million, producing an annualized 13% instrumentality connected equity.