Earnings ·
Radian reports Q3 EPS of $1.28 as revenue doubles to $624M on Inigo acquisition
RDNRadian Group Inc
Radian Group Inc. reported third-quarter net income from continuing operations of $172 million, or $1.28 per diluted share, compared with $153 million, or $1.11 per share, a year earlier. Total revenues more than doubled to $624 million, driven by the addition of Inigo, which contributed significantly to specialty insurance results. The company reported an adjusted diluted net operating income per share of $1.44 and a combined ratio of 61%. Primary mortgage insurance in force reached a record $286 billion. Radian Group Inc. is a global multi-line specialty insurer that provides mortgage guarantee insurance and other risk management solutions.