Neha Tahita's questions to MGIC Investment Corp (MTG) leadership • Q3 2024
Question
An analyst from Bank of America inquired about the stabilization of the premium rate, the competitive landscape, expectations for persistency amid rate changes, and the expense outlook for the remainder of the year.
Answer
CEO Tim Mattke noted the premium rate is stable due to a balance of new business pricing and portfolio runoff in a competitive market. CFO Nathan Colson stated that persistency has likely peaked and expects only modest declines, as much of the portfolio has low note rates. He also reaffirmed the full-year expense guidance of $215-$225 million and projected lower expenses for 2025.