Business, Earnings Up at National MI

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8 · 01 · 17

New business surged from the preceding quarter at National MI. Earnings also improved, and the book of business continued to expand.

Income before income taxes at parent company NMI Holdings was $9 million during the second quarter, according to earnings data released Tuesday.

Income was greater than $7 million in the preceding three-month period. It was also improved from $2 million during the same three months last year.

There was $5.037 billion in new insurance written during the three months ended mid-2017. Business was better than $3.559 billion in the first quarter. But volume fell short of $5.838 billion in the second quarter of last year.

For both quarters that have completed so far this year, there has been
$8.596 billion in new insurance written by the Emeryville, California-based firm.

The first-half 2017 finished with $38.629 billion insurance in force. The book of business grew from $34.779 billion as of March 31 and $23.624 billion as of June 30, 2016.

The rate of default was 0.2 percent versus 0.1 percent three months earlier and one year earlier.

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