Radian Group Inc

XMUN:RAG

Transformation: Radian said it has finished a major strategic overhaul, including closing Inigo, selling its real estate services business, agreeing to sell title, and exiting mortgage conduit operations.

Results: Second-quarter revenue jumped 93% year over year to $575 million, helped by the first full quarter of Inigo’s contribution.

Mortgage strength: The mortgage insurance business stayed strong, with new insurance written up 14% to $16.3 billion and primary insurance in force reaching a record $284 billion.

Specialty pressure: Management said specialty insurance is still performing well, but market conditions are getting more competitive and rates are softening, so underwriting discipline matters more than growth.

Middle East reserve: Radian booked about $30 million of reserving related to the Middle East conflict and said it feels well reserved and is actively monitoring the situation.

Capital returns: The company increased its 2026 dividend outlook to at least $650 million and expects share repurchases to land toward the upper end of the $200 million to $250 million range.