{"id":809473,"date":"2025-02-05T16:36:10","date_gmt":"2025-02-05T21:36:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/radian-announces-fourth-quarter-and-full-year-2024-financial-results\/"},"modified":"2025-02-05T16:36:10","modified_gmt":"2025-02-05T21:36:10","slug":"radian-announces-fourth-quarter-and-full-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/radian-announces-fourth-quarter-and-full-year-2024-financial-results\/","title":{"rendered":"Radian Announces Fourth Quarter and Full Year 2024 Financial Results"},"content":{"rendered":"

<\/p>\n

Radian Announces Fourth Quarter and Full Year 2024 Financial Results<\/b><\/p>\n

\u2014 Fourth quarter net income of $148 million, or $0.98 per diluted share \u2014<\/i><\/p>\n

\u2014 Full year net income of $604 million, or $3.92 per diluted share \u2014<\/i><\/p>\n

\u2014 Full year return on equity of 13.4% \u2014<\/i><\/p>\n

\u2014 Book value per share growth of 9% year-over-year to $31.33 \u2014<\/i><\/p>\n

\u2014 Primary mortgage insurance in force increased to an all-time high of $275.1 billion \u2014<\/i><\/p>\n

\n\u2014 $675 million in ordinary dividends paid from Radian Guaranty to holding company during the year \u2014<\/i><\/p>\n

\u2014 Returned $376 million of capital to stockholders through dividends and share repurchases during the year, including $111 million in the fourth quarter \u2014<\/i><\/p>\n

WAYNE, Pa.–(BUSINESS WIRE<\/a>)–
\nRadian Group Inc. (NYSE: RDN) today reported net income for the quarter ended December 31, 2024, of $148 million, or $0.98 per diluted share. This compares with net income for the quarter ended December 31, 2023, of $143 million, or $0.91 per diluted share.<\/p>\n

\nNet income for the full year 2024 was $604 million, or $3.92 per diluted share. This compares with net income for the full year 2023 of $603 million, or $3.77 per diluted share.<\/p>\n

\nAdjusted pretax operating income for the quarter ended December 31, 2024, was $209 million, compared to $192 million for the quarter ended December 31, 2023. Adjusted diluted net operating income per share for the quarter ended December 31, 2024, was $1.09, compared to $0.96 for the quarter ended December 31, 2023.<\/p>\n

\nAdjusted pretax operating income for the full year 2024 was $803 million, compared to $786 million for the full year 2023. Adjusted diluted net operating income per share for the full year 2024 was $4.11, compared to $3.88 for the full year 2023.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

Key Financial
\n
Highlights<\/b><\/p>\n<\/td>\n

\n\n

Quarter Ended<\/b><\/p>\n<\/td>\n

\n\n

Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n($ in millions, except per-share amounts)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

December 31,
\n
2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,
\n
2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

December 31,
\n
2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

December 31,
\n
2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

December 31,
\n
2023<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal revenues<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$316<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$334<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$329<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$1,290<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$1,241<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$148<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$152<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$143<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$604<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$603<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted net income per share<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$0.98<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$0.99<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$0.91<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$3.92<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$3.77<\/p>\n<\/td>\n<\/tr>\n

\n

\nConsolidated pretax income<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$189<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$195<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$180<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$771<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$767<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted pretax operating income (1)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$209<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$199<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$192<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$803<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$786<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted diluted net operating income per share (1)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$1.09<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$1.03<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$0.96<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$4.11<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$3.88<\/p>\n<\/td>\n<\/tr>\n

\n

\nReturn on equity<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12.7%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13.2%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13.4%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13.4%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14.5%<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted net operating return on equity (1)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14.2%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13.7%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14.2%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14.1%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14.9%<\/p>\n<\/td>\n<\/tr>\n

\n

\nNew Insurance Written (NIW) – mortgage insurance<\/p>\n<\/td>\n

\n\n

\n$13,186<\/p>\n<\/td>\n

\n\n

\n$13,493<\/p>\n<\/td>\n

\n\n

\n$10,629<\/p>\n<\/td>\n

\n\n

\n$51,984<\/p>\n<\/td>\n

\n\n

\n$52,670<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet premiums earned – mortgage insurance<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$235<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$235<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$230<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$939<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$909<\/p>\n<\/td>\n<\/tr>\n

\n

\nNew defaults<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,967<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,708<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12,452<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n50,535<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n44,007<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

As of<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n($ in millions, except per-share amounts)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

December 31,
\n
2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,
\n
2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

December 31,
\n
2023<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nBook value per share<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$31.33<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$31.37<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$28.71<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccumulated other comprehensive income (loss) value per share<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$(2.37)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$(1.56)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$(2.16)<\/p>\n<\/td>\n<\/tr>\n

\n

\nPMIERs Available Assets<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$6,039<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$5,984<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$5,890<\/p>\n<\/td>\n<\/tr>\n

\n

\nPMIERs excess Available Assets<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$2,158<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$2,122<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$2,260<\/p>\n<\/td>\n<\/tr>\n

\n

\nAvailable holding company liquidity (2)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$885<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$844<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$992<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal investments<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$6,345<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$6,497<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$6,086<\/p>\n<\/td>\n<\/tr>\n

\n

\nResidential mortgage loans held for sale, at fair value (3)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$520<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$530<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$33<\/p>\n<\/td>\n<\/tr>\n

\n

\nPrimary mortgage insurance in force<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$275,126<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$274,721<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$269,979<\/p>\n<\/td>\n<\/tr>\n

\n

\nPercentage of primary loans in default<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2.44%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2.25%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2.20%<\/p>\n<\/td>\n<\/tr>\n

\n

\nMortgage insurance loss reserves<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$354<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$357<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$365<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n
\n

\n(1)<\/p>\n<\/td>\n

Adjusted results, including adjusted pretax operating income, adjusted diluted net operating income per share and adjusted net operating return on equity, are non-GAAP financial measures. For definitions and reconciliations of these measures to the comparable GAAP measures, see Exhibits F and G.<\/td>\n<\/tr>\n
\n

\n(2)<\/p>\n<\/td>\n

Represents Radian Group\u2019s available liquidity without considering available capacity under its undrawn $275 million unsecured revolving credit facility.<\/td>\n<\/tr>\n
\n

\n(3)<\/p>\n<\/td>\n

Included in total investments on our consolidated balance sheets.<\/td>\n<\/tr>\n<\/table>\n

\nBook value per share at December 31, 2024, was $31.33, compared to $31.37 at September 30, 2024, and $28.71 at December 31, 2023. This represents a 9% growth in book value per share at December 31, 2024, as compared to December 31, 2023, and includes accumulated other comprehensive income (loss) of $(2.37) per share as of December 31, 2024, and $(2.16) per share as of December 31, 2023. Changes in accumulated other comprehensive income (loss) are primarily from net unrealized gains or losses on investments as a result of decreases or increases, respectively, in market interest rates.<\/p>\n

\n\u201cWe reported another successful year for Radian in 2024, increasing book value per share by 9% year-over-year, generating net income of $604 million, and delivering a return on equity of 13.4%. Our primary mortgage insurance in force, which is the main driver of future earnings for our company, reached a record level of $275 billion dollars,\u201d said Radian\u2019s Chief Executive Officer, Rick Thornberry. \u201cOur results continue to reflect the economic value of our high-quality mortgage insurance portfolio, the strength and quality of our investment portfolio, our strong capital and liquidity positions, our ongoing strategic focus on managing expenses, and our commitment to helping our customers transform risk into opportunity \u2013 while also returning value to our stockholders. We look forward to the opportunities ahead in 2025.\u201d<\/p>\n

\nFOURTH QUARTER AND FULL YEAR HIGHLIGHTS<\/p>\n