MGIC Investment Corp - Company Profile
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MGIC Investment Corp(MGIC) is a holding company that operates through its wholly-owned subsidiaries. The company's primary activities include providing private mortgage insurance, other mortgage credit risk management solutions, and ancillary services. Its major products and services include primary mortgage insurance, pool insurance, and contract underwriting services. MGIC is the principal subsidiary associated with the company. The company's products and services are primarily used by lenders in the home mortgage lending industry, aiding in making affordable low-down-payment mortgages a reality through the use of private mortgage insurance. The company serves lenders across various locations, including all 50 states of the United States, the District of Columbia, Puerto Rico, and Guam. MGIC is headquartered in Milwaukee, Wisconsin, the US.
Headquarters
United States of America
Address
250 E Kilbourn Ave, Milwaukee, Wisconsin, 53202-3102
Website
www.mgic.com
Telephone
1 414 3476480
No of Employees
627
Industry
Financial Services
Ticker Symbol & Exchange
MTG (NYSE)
Revenue (2022)
$1.2B
-1.5%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-17.6%
(2022 vs 2021)
Market Cap*
$5.5B
Net Profit Margin (2022)
XYZ
-16.4%
(2022 vs 2021)
* As of and is in US$
MGIC Investment Corp premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Primary Mortgage Insurance | Contract Underwriting |
| Pool Mortgage Insurance | Related Fee-Based Services |
| Portfolio Retention | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | New Products/Services | In November, Mortgage Guaranty Insurance Corporation and CondoTek announced the launch of a new All-In-One Condominium Compliance solution available through CondoTek. |
| 2022 | Contracts/Agreements | In December, Mortgage Guaranty Insurance Corporation (MGIC), the subsidiary of the company, announced a partnership with Vesta. |
| 2020 | Contracts/Agreements | In November, the company’s subsidiary, MGIC partnered with Mortgage Coach to provide access to MGIC mortgage insurance rates. |
Competitor Comparison
| Key Parameters | MGIC Investment Corp | Radian Group Inc | Arch Mortgage Insurance Company | Essent Guaranty, Inc. | Genworth Mortgage Insurance Corporation |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Milwaukee | Wayne | San Francisco | Radnor | Raleigh |
| State/Province | Wisconsin | Pennsylvania | California | Pennsylvania | North Carolina |
| No. of Employees | 627 | 1,100 | - | - | - |
| Entity Type | Public | Public | Private | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Timothy J. Mattke | Director; Chief Executive Officer | Executive Board | 2019 | 48 |
| Nathaniel H. Colson | Executive Vice President; Chief Financial Officer | Senior Management | 2019 | 39 |
| Salvatore A. Miosi | President; Chief Operating Officer | Senior Management | 2019 | 56 |
| Steven M. Thompson | Chief Risk Officer; Executive Vice President | Senior Management | 2019 | 60 |
| Robert J. Candelmo | Chief Information Officer - MGIC; Senior Vice President - MGIC | Senior Management | 2019 | 59 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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