The following is a summary of the Radian Group Inc. (RDN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Radian Group Inc. reported third quarter 2024 net income of $152 million and revenues of $334 million.

• Annualized return on equity was 13.2%, with adjusted net operating return on equity at 13.7%.

• Book value per share increased by 18% year-over-year to $31.37.

• The company successfully paid off $450 million of senior debt, reducing the leverage ratio to 18.5%.

Business Progress:

• The company has written $13.5 billion of high-quality new insurance in Q3 2024. The primary mortgage insurance in force grew to $275 billion.

• Radian Group launched an inaugural private label prime jumbo securitization transaction, reflecting the strategic expansion of its Mortgage Conduit business.

• Radian's investment portfolio increased both in size and average yield, generating $78 million in net investment income.

Opportunities:

• There is anticipatory growth in the private mortgage insurance market, which is expected to be 10% larger in 2025 than in 2024.

Risks:

• Possible impact from Hurricanes Milton and Helene that might increase the number of new defaults in Q4.

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