NMI Holdings Inc
35.58-0.37 (-1.03%)
Oct 29, 4:00:01 PM EDT · NasdaqGM · NMIH · USD
Key Stats
Market Cap
2.76BP/E (TTM)
7.55Basic EPS (TTM)
4.71Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
NMI Holdings posted solid Q2 FY2025 results, with net premiums earned up 6% y/y to $149.1M on steady new insurance written of $12.5B and 5% IIF growth to $214.7B, while net investment income surged 21% y/y to $24.9M from a larger portfolio yielding higher rates. Diluted EPS climbed 7% y/y to $1.21, backed by 79.3M shares, yet claims expenses jumped to $13.4M (9.0% loss ratio) from new delinquencies and reserve builds, offset by $13.7M favorable prior-year development. Operating cash flow held steady at $229.5M YTD, with $84.0M cash and $2.9B investments funding $416.1M in 6% senior notes due 2029 and a $250M undrawn revolver; free cash flow not disclosed in the 10-Q. Reinsurance tweaks recaptured $240M RIF, bolstering capital. Storm-related defaults pose a balanced risk amid housing market volatility.
8-K
NMI Q2 earnings dip on claims
NMI Holdings reported Q2 2025 net income of $96.2 million, down from $102.6 million in Q1, as insurance claims jumped to $13.4 million from $4.5 million, pushing the loss ratio to 9.0%. Yet primary insurance-in-force grew to $214.7 billion, up 2% sequentially and 5% year-over-year, fueled by $12.5 billion in new insurance written. Claims spiked. Strong portfolio expansion bolsters returns amid rising housing risks.
8-K
Annual meeting elects directors
NMI Holdings' stockholders convened their annual meeting on May 8, 2025, with 90.64% quorum present from 78,238,719 eligible shares. All eight director nominees—Bradley M. Shuster, Adam S. Pollitzer, Michael Embler, John C. Erickson, Priya Huskins, Lynn S. McCreary, Michael Montgomery, Regina L. Muehlhauser, and Steven L. Scheid—secured election amid minor withholdings. Executive compensation won advisory approval by a wide margin, while votes favored annual say-on-pay frequency; BDO USA, LLP's auditor role was ratified overwhelmingly. Board continuity bolsters steady governance.
10-Q
Q1 FY2025 results
NMI Holdings kicked off 2025 with solid momentum, as net premiums earned climbed 9% year-over-year to $149.4 million, fueled by 6% growth in insurance-in-force to $211.3 billion, while net investment income rose 22% to $23.7 million on a larger portfolio yielding higher rates. Operating income hit $119.2 million, up 15% from last year, with diluted EPS reaching $1.28—a 19% gain—confirmed against 79.9 million weighted shares, no anti-dilution quirks. Claims stayed lean at 3.0% of premiums, thanks to favorable prior-year releases and a 1.04% default rate. Cash swelled to $74.2 million, free cash flow (derived) at $99.4 million after $1.7 million capex, backing $415.6 million in 6% notes due 2029 and a fully available $250 million revolver. Yet competition from government mortgage insurers could squeeze market share.
8-K
Record Q1 profits surge
NMI Holdings reported record Q1 2025 net income of $102.6 million, up 19% from Q4 2024's $86.2 million, driven by net premiums earned rising 4% to $149.4 million and claims expenses plunging 74% to $4.5 million for a 3.0% loss ratio. Primary insurance-in-force grew modestly to $211.3 billion, while book value per share excluding unrealized gains climbed 4% to $30.85, yielding an 18.1% ROE. Claims remain low, but economic shifts could pressure defaults.
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