MGIC Investment Corp 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune 30, 2026☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ______ to ______Commission file number1-10816 MGIC Investment Corporation (Exact name of registrant as specified in its charter) 39-1486475(I.R.S. Employer Identification No.)53202(Zip Code) (414)347-6480(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. (Check one): Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES☐NO Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As ofJuly24, 2026, there were 205,124,840 shares of common stock of the registrant, par value $1.00 per share, outstanding. Forward Looking Statements and Risk Factors This report contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Thesestatements are based on current assumptions, expectations, and projections and are subject to risks and uncertainties that could causeactual results to differ materially. Forward-looking statements consist of statements which relate to matters other than historical fact,including matters that inherently refer to future events. Among others, statements that include words such as "believe," "anticipate,""will" or "expect," or words of similar import, are forward-looking statements. Our actual results may differ, possibly materially, fromthose expressed or implied in such forward-looking statements. Factors and uncertainties that could cause actual results to differ can befound in the “Risk Factors” and “Forward-Looking Statements” sections included in MGIC Investment Corporation’s Annual Report onForm 10-K for the year ended December 31, 2025, as supplemented by our Quarterly Reports on Form 10-Q and other reports filedfrom time to time with the Securities and Exchange Commission. Such factors and uncertainties include, without limitation: •Our results are dependent on U.S. economic and housing market conditions; adverse conditions may cause a decrease in newinsurance written and/or an increase in delinquencies, claim frequency, and claim severity. Additionally, if the volume of low downpayment home mortgage originations declines, the amount of new insurance that we write could decline.•The substantial majority of MGIC’s new insurance written is for loans purchased by Fannie Mae and Freddie Mac (“the GSEs”);therefore, changes to their business practices or legislative, regulatory or administrative reforms could materially affect ourbusiness and financial results.•Failure to comply with the GSEs’ Private Mortgage Insurance Eligibility Requirements (“PMIERs”) could limit our operations, or atthe extreme, lead to suspension or termination of eligibility to insure loans purchased by the GSEs.•Loss reserve estimates are subject to uncertainties; actual losses may differ materially from estimates. Additionally, becausereserves are established only upon delinquency, losses may disproportionately impact earnings in certain periods.•We operate in a highly regulated environment at both the federal and state levels; regulatory changes or enforcement actionsmay adversely affect our operations and/or financial results.•If we fail to meet the State Capital Requirements of Wisconsin, we could be prevented from writing new business in alljurisdictions; we could be prevented from writing new business in a particular jurisdiction if we fail to meet the state capitalrequirements of that jurisdiction.•Pandemics, severe weather events, and climate related developments may negatively affect home prices and affordability,potentially leading to an increase in delinquencies, claim frequency, and claim severity. Actions by government authorities,including FHFA and the GSEs,