MGIC Investment Corporation (NYSE: MTG) reported strong results for the fourth quarter of 2024, with earnings per share beating analyst estimates. The company's performance was driven by higher net premiums earned and lower losses incurred, aided by its quota share reinsurance (QSR) and excess-of-loss (XOL) reinsurance arrangements.

The key highlights of MGIC's Q4 2024 financial results are as follows:

- Net income for Q4 2024 was $184.7 million or $0.72 per diluted share, compared to $184.5 million or $0.66 per diluted share in Q4 2023.
- Adjusted operating income (non-GAAP) for Q4 2024 was $184.5 million or $0.72 per diluted share, beating the analyst consensus estimate of $0.67 per share.
- Revenues for Q4 2024 were $301.4 million, up 6.2% from $284.0 million in Q4 2023, but slightly missing the analyst estimate of $303.5 million.
- Net premiums earned in Q4 2024 increased 6.6% year-over-year to $241.3 million, driven by higher insurance in force.
- Losses incurred in Q4 2024 were $8.7 million, significantly lower than $(9.5) million in Q4 2023, aided by MGIC's QSR and XOL reinsurance arrangements.
- New insurance written in Q4 2024 was $15.9 billion.

MGIC's strong performance in Q4 2024 was supported by its QSR and XOL reinsurance transactions, which helped reduce losses and earn ceding commissions. These reinsurance arrangements also contributed to MGIC's compliance with the Private Mortgage Insurer Eligibility Requirements (PMIERs) of the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac.

Additionally, MGIC declared a quarterly dividend of $0.13 per share, reflecting its solid financial position and commitment to returning capital to shareholders.