NMI Holdings Inc ( (NMIH) ) has released its Q4 earnings. Here is a breakdown of the information NMI Holdings Inc presented to its investors.
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NMI Holdings, Inc., based in Emeryville, California, operates as a private mortgage insurance provider primarily in the United States, offering solutions that help low down payment borrowers achieve homeownership while safeguarding lenders and investors from borrower default losses.
In its latest earnings report, NMI Holdings announced a net income of $86.2 million for the fourth quarter of 2024, reflecting a slight decrease from the previous quarter but an increase from the same period last year. The company also revealed a new $250 million share repurchase authorization, highlighting its strong financial performance and commitment to returning value to shareholders.
Key highlights from the report include a total revenue of $166.5 million for the quarter, an increase compared to the same quarter last year. The company’s insurance-in-force grew to $210.2 billion, and net premiums earned were slightly up at $143.5 million. However, insurance claims and claim expenses saw a significant rise to $17.3 million, impacting the loss ratio, which increased to 12% from the previous quarter’s 7.2%.
The annual financial results were robust, with net income reaching $360.1 million, a notable increase from the previous year. NMI’s book value per share, excluding net unrealized gains and losses, increased by 17% year-over-year, showcasing the company’s solid financial foundation and effective operational strategies.
Looking ahead, NMI Holdings is well-positioned to leverage its strong financial platform and high-quality insurance portfolio to deliver continued growth and shareholder value. The company’s management remains confident in maintaining its momentum and expanding its market presence in the coming years.
