NMI Holdings, Inc. (NASDAQ:NMIH) Q2 2024 Earnings Conference Call July 30, 2024 5:00 PM ET

Company Participants

John Swenson - VP of IR & Treasury
Bradley Shuster - Executive Chairman
Adam Pollitzer - President & CEO
Aurora Swithenbank - CFO

Conference Call Participants

Doug Harter - UBS
Mihir Bhatia - Bank of America
Rick Shane - JPMorgan
Bose George - KBW
Soham Bhonsle - BTIG
Mark Hughes - Truist
Scott Heleniak - RBC Capital Markets

Operator

Good day and welcome to the NMI Holdings Second Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please note, this call has been recorded.

I would now like to turn the conference over to Mr. John Swenson of Management. Please go ahead.

John Swenson

Thank you, Operator. Good afternoon and welcome to the 2024 second quarter conference call for National MI. I'm John Swenson, Vice President of Investor Relations and Treasury.

Joining us on the call today are Brad Shuster, Executive Chairman, Adam Pollitzer, President and Chief Executive Officer, and Aurora Swithenbank, our Chief Financial Officer.

Financial results for the quarter were released after the close today. The press release may be accessed on NMI's website located at nationalmi.com under the Investors tab. During the course of this call, we may make comments about our expectations for the future. Actual results could differ materially from those contained in these forward-looking statements. Additional information about the factors that could cause actual results or trends to differ materially from those discussed on the call can be found on our website or through our regulatory filings with the SEC.

If and to the extent the company makes forward-looking statements, we do not undertake any obligation to update those statements in the future in light of subsequent developments. Further, no one should rely on the fact that the guidance of such statements is current at any time other than the time of this call. Also note that on this call, we may refer to certain non-GAAP measures. In today's press release and on our website, we've provided a reconciliation of these measures to the most comparable measures under GAAP.

Now I'll turn the call over to Brad.

Bradley Shuster

Thank you, John, and good afternoon, everyone. I'm pleased to report that in the second quarter, National MI again delivered strong operating performance, continued growth in our insured portfolio, and record financial results. We also achieved a notable milestone, closing the second quarter with a record $203.5 billion of high-quality, high-performing insurance in force. It's the first quarter our insured portfolio has surpassed $200 billion, and the size and strength of our portfolio today serves to highlight the consistent and significant success we've been delivering for so long.