NMI Holdings Reports 8% Revenue Growth to $187.9 Million in Q2 2026

NMI Holdings, Inc. reported a solid financial performance for the second quarter of 2026, with total revenues reaching $187.9 million, an increase of 8% from $173.8 million in the same period last year. The growth was primarily driven by a 6% rise in net premiums earned, which totaled $157.5 million compared to $149.1 million in Q2 2025. Additionally, net investment income surged by 22% to $30.3 million, reflecting a larger investment portfolio and improved yields. The company’s net income for the quarter was $105.8 million, up 10% from $96.2 million a year earlier, resulting in earnings per share of $1.40, a 14% increase from $1.23.

In the first half of 2026, NMI Holdings reported total revenues of $371.4 million, a 7% increase from $347.0 million in the prior year. Net premiums earned rose by 5% to $312.3 million, while net investment income increased by 21% to $58.9 million. The company’s net income for the six-month period was $205.1 million, compared to $198.7 million in the same timeframe last year. The increase in net income was attributed to higher revenues, although insurance claims and claim expenses also rose significantly, reflecting a growing number of defaults in the insured portfolio.

Operationally, NMI Holdings expanded its customer base, issuing master policies with 2,223 customers as of June 30, 2026, compared to 2,100 a year prior. The company reported a primary insurance-in-force (IIF) of $227.1 billion, a 6% increase from $214.7 billion in the previous year. The number of loans in default increased slightly to 8,020, representing a default rate of 1.16%, up from 1.12% at the end of 2025. The company’s persistency rate was 81.4%, down from 84.1% a year earlier, indicating a slight decline in the retention of its insurance policies.

NMI Holdings continues to focus on strategic growth through disciplined risk management and pricing strategies. The company has maintained a strong capital position, with total assets of $4.0 billion as of June 30, 2026, up from $3.8 billion at the end of 2025. The company’s debt remained stable at $418.0 million, and it reported a risk-to-capital ratio of 12.9:1, well within regulatory limits. Looking ahead, NMI Holdings anticipates continued growth in its insurance portfolio, supported by favorable market conditions and an expanding customer base, while remaining vigilant to macroeconomic factors that could impact the housing market and mortgage insurance industry.