Nate Rickman's questions to NMI Holdings Inc (NMIH) leadership • Q3 2024
Question
An analyst on behalf of Nate Rickman asked about the outlook for operating expenses, given the expense ratio is trending at the low end of the long-term range, and also inquired about intra-quarter persistency changes due to rate movements.
Answer
CFO Aurora Swithenbank stated that the company is managing the business with discipline and expects only natural expense growth from inflation, with no major near-term investments planned that would fundamentally alter the expense ratio. President and CEO Adam Pollitzer added that on persistency, it remains well above historical trends but will likely moderate from recent peaks, and the brief intra-quarter rate volatility was too short to have a meaningful impact.