Radian Group Inc. reported its financial results for the third quarter of 2025, revealing a net income of $141.4 million, a decrease from $151.9 million in the same period last year. The company's diluted net income per share rose to $1.03, compared to $0.99 in the prior year. For the nine months ending September 30, 2025, Radian's net income was $427.8 million, down from $456.1 million in 2024. Total revenues for the quarter were $303.2 million, a decline from $313.4 million year-over-year, primarily due to a decrease in net investment income and net gains on investments.
The company experienced a 15% increase in new insurance written (NIW) for the third quarter, totaling $15.5 billion, compared to $13.5 billion in the same quarter of 2024. For the nine months ended September 30, 2025, NIW reached $39.3 billion, a slight increase from $38.9 billion in the previous year. Radian's primary insurance in force (IIF) stood at $280.6 billion as of September 30, 2025, up from $275.1 billion at the end of 2024. The company also reported a persistency rate of 83.8%, consistent with the previous year.
Strategically, Radian announced plans to divest its Mortgage Conduit, Title, and Real Estate Services businesses, reclassifying them as discontinued operations. This decision follows a comprehensive review and is expected to be completed by the third quarter of 2026. Additionally, Radian entered into a definitive agreement to acquire Inigo, a specialty insurer, for approximately $1.7 billion, with the transaction anticipated to close in the first quarter of 2026. The acquisition is part of Radian's strategy to transform into a global multi-line specialty insurer.
Operationally, Radian's total assets decreased to $8.2 billion as of September 30, 2025, from $8.7 billion at the end of 2024. The company reported a total liabilities figure of $3.6 billion, down from $4.1 billion. Radian's stockholders' equity increased slightly to $4.7 billion, reflecting a net income contribution and a reduction in unrealized losses on investments. The company maintained a strong capital position, with a risk-to-capital ratio of 10.4:1, well within regulatory requirements.
Looking ahead, Radian's management expressed a positive outlook for the mortgage insurance business, despite potential risks from economic conditions and regulatory changes. The company plans to leverage its strong liquidity position, which includes $995 million in unrestricted cash and liquid investments, to support its growth initiatives and the upcoming acquisition of Inigo. Radian's ability to adapt to market conditions and execute its strategic plans will be critical as it navigates the evolving landscape of the mortgage insurance industry.
About RADIAN GROUP INC
Radian Group is a mortgage and real estate services company specializing in private mortgage insurance that supports affordable homeownership and mitigates default risks for lenders and investors. Its core business includes mortgage insurance, contract underwriting, mortgage conduit operations, title, and real estate services. The company leverages data, analytics, and technology to optimize risk management, diversify revenue streams, and enhance long-term profitability in the U.S. housing finance market.
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