MGIC Investment Corporation (NYSE:MTG) Q2 2023 Earnings Call Transcript August 3, 2023 10:00 AM ET

Company Participants

Dianna Higgins - Head of IR

Tim Mattke - CEO

Nathan Colson - CFO

Conference Call Participants

Bose George - KBW

Mihir Bhatia - Bank of America

Geoffrey Dunn - Dowling & Partners

Eric Hagen - BTIG

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the MGIC Investment Corporation Second Quarter 2023 Earnings Call. [Operator Instructions] I will now turn the conference over to Dianna Higgins, Head of Investor Relations. Please go ahead.

Dianna Higgins

Thank you, Joel. Good morning, and welcome, everyone. Thank you for your interest in MGIC Investment Corporation. Joining me on the call today to discuss our results for the second quarter are Tim Mattke, Chief Executive Officer, and Nathan Colson, Chief Financial Officer.

Our press release, which contains MGIC's second quarter financial results was issued yesterday and is available on our website at mtg.mgic.com under Newsroom, includes additional information about our quarterly results that we will refer to during the call. It also includes a reconciliation of non-GAAP financial measures to their most comparable GAAP measures. In addition, we posted on our website a quarterly supplement that contains information pertaining to our primary risk in force and other information you may find valuable. As a reminder, from time to time, we may post information about our underwriting guidelines and other presentations or corrections to past presentations on our website.

Before we get started today, I want to remind everyone that during the course of this call, we may make comments about our expectations of the future. Actual results could differ materially from those in these forward-looking statements. Additional information about the factors that could cause actual results to differ materially from those discussed on the call today are contained in our 8-K and 10-Q that were also filed yesterday. If we make any forward-looking statements, we are not undertaking an obligation to update those statements in the future in light of subsequent events. No one should rely on the fact that such guidance or forward-looking statements are current at any other time than the time of this call or the issuance of our 8-K and 10-Q.

With that, I now have the pleasure to turn the call over to Tim.

Tim Mattke

Thanks, Diana, and good morning, everyone. We had another quarter of solid results, writing $12.4 billion in new insurance and ending the quarter was $292 billion of insurance in force, flat quarter-over-quarter and 2% higher than a year ago.