In This Story
Radian Group Inc. (RDN+0.26%) has filed its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in net premiums earned to $951.3 million from $919.6 million in the previous year. This increase is attributed to growth in insurance in force (IIF) and a corresponding rise in direct premiums earned.
Net investment income rose to $292.7 million from $258.4 million, driven by higher balances of residential mortgage loans held for sale and short-term investments.
Radian reported a decrease in the provision for losses to $2.5 million from $42.5 million, reflecting favorable development on prior year defaults and an increase in current year new primary defaults.
The company recorded a pretax income of $771.3 million, slightly up from $767.5 million in the previous year. Net income was $604.4 million, compared to $603.1 million in 2023.
Radian's mortgage insurance segment reported net premiums earned of $939.2 million, an increase from $909.4 million, primarily due to higher IIF.
The company's adjusted pretax operating income was $803 million, compared to $786.4 million in 2023, resulting in adjusted diluted net operating income per share of $4.11, up from $3.88.
Radian's Persistency Rate for the year ended December 31, 2024, was 83.6%, slightly down from 84.0% in the previous year.
The company repurchased 7.0 million shares in 2024 at an average price of $31.81, totaling $224 million.
Radian increased its quarterly cash dividend by 9% from $0.225 to $0.245 per share, beginning with the dividend declared in the first quarter of 2024.
Radian Group's board of directors authorized an increase to the quarterly dividend from $0.245 to $0.255 per share in February 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Radian Group Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.