Catalysts
Rising demand for housing with limited supply
Record Low Mortgage rate further increases demand for mortgages and consequently mortgage insurance
Asset price inflation - further increase in housing prices
Management considering buybacks and increased dividends
Best financial metric in industry and gaining market share at fast rate
Financial Analysis
Net Insurance Written (NIW) of $29.6 billion in 4Q20 vs $36.7 billion in 3Q20
NIW of $107.9 billion in FY20 vs $63.6 billion in FY19
Revenues of $247 million in 4Q20 vs $228 million in 4Q19
Revenues of $955 million in FY20 vs $8.67 million in FY19
Premiums of $862 million in FY20 vs $777 million in FY19
Net income of $123 million in 4Q20 vs $146 million in 4Q19
Net income of $413 million in FY20 vs net income of $555 million in FY19
Assets of $5.20 billion, liabilities of $1.34 billion and book value of $3.86 billion
Investments of $4.56 billion vs $3.35 billion in 4Q19
Yield of 2.11%
Almost all investment graded with 36% Aaa
