MGIC Quarterly Statement (as of June 30, 2022)

Current Statement Date

4

1

2

3

December 31

Net Admitted Assets

Prior Year Net

Assets

Nonadmitted Assets

(Cols. 1 - 2)

Admitted Assets

1.

Bonds

5,783,900,010

5,783,900,010

5,877,606,312

2.

Stocks:

2.1 Preferred stocks

2.2 Common stocks

376,910,901

3,294,600

373,616,301

370,591,803

4.

Real estate:

4.1 Properties occupied by the company (less $

encumbrances)

12,402,837

12,402,837

12,673,779

4.2 Properties held for

the production of income (less

$

encumbrances)

4.3 Properties held for sale (less $

encumbrances)

879,145

879,145

1,506,656

5.

Cash ($

9,777,749 ), cash equivalents

($

46,485,535

) and short-term

investments ($

14,663,363 )

70,926,647

70,926,647

133,585,821

6.

Contract loans (including $

premium notes)

8.

Other invested assets

75,253

75,253

9.

Receivables for securities

520,000

10.

Securities lending reinvested collateral assets

12.

Subtotals, cash and invested assets (Lines 1 to 11)

6,245,094,793

3,369,853

6,241,724,940

6,396,484,371

13.

Title plants less $

charged off (for Title insurers

only)

14.

Investment income due and accrued

47,185,612

47,185,612

46,825,408

15.

Premiums and considerations:

15.1 Uncollected premiums and agents' balances in the course of collection

56,778,815

56,778,815

55,719,482

earned but unbilled premiums)

15.3

Accrued retrospective premiums ($

) and

contracts subject to redetermination ($

)

16. Reinsurance:

16.1

Amounts recoverable from reinsurers

309,986

309,986

36,269,541

16.2

Funds held by or deposited with reinsured companies

16.3

Other amounts receivable under reinsurance contracts

18.1

Current federal and foreign income tax recoverable and interest thereon

18.2

Net deferred tax asset

177,462,210

138,726,716

38,735,494

28,635,574

19.

Guaranty funds receivable or on deposit

20.

Electronic data processing equipment and software

3,041,497

629,679

2,411,818

1,760,782

($

)

36,094,949

36,094,949

23.

Receivables from parent, subsidiaries and affiliates

4,126,142

4,126,142

4,321,235

24.

Health care ($

) and other amounts receivable

25.

Aggregate write-ins for other than invested assets

144,548,974

136,915,470

7,633,504

7,112,112

26.

Total assets excluding Separate Accounts, Segregated Accounts and

Protected Cell Accounts (Lines 12 to 25)

6,714,642,978

315,736,667

6,398,906,311

6,577,128,505

28.

Total (Lines 26 and 27)

6,714,642,978

315,736,667

6,398,906,311

6,577,128,505

DETAILS OF WRITE-INS

1101.

1102.

1103.

1198.

Summary of remaining write-ins for Line 11 from overflow page

1199.

Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)

2501.

Prepaid post retirement assets

119,545,722

119,545,722

2502.

Prepaid expenses

14,651,781

14,651,781

2503.

ILN expense premium

7,097,194

7,097,194

6,704,202

2598.

Summary of remaining write-ins for Line 25 from overflow page

3,254,277

2,717,967

536,310

407,910

2599.

Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)

144,548,974

136,915,470

7,633,504

7,112,112

1

2

Current

December 31,

Statement Date

Prior Year

1.

Losses (current accident year $

65,209,509 )

627,851,979

761,730,043

2.

Reinsurance payable on paid losses and loss adjustment expenses

24,831

3.

Loss adjustment expenses

44,290,313

53,384,121

5.

Other expenses (excluding taxes, licenses and fees)

48,456,649

57,282,935

6.

Taxes, licenses and fees (excluding federal and foreign income taxes)

3,636,459

5,765,283

7.1

Current federal and foreign income taxes (including $

on realized capital gains (losses))

50,738,168

17,844,892

7.2

Net deferred tax liability

8.

Borrowed money $

and interest thereon $

155,254,932

9.

Unearned premiums (after deducting unearned premiums for ceded reinsurance of $

and

including warranty reserves of $

and accrued accident and health experience rating refunds

including $

for medical loss ratio rebate per the Public Health Service Act)

169,235,747

188,380,276

10.

Advance premium

11.

Dividends declared and unpaid:

11.1 Stockholders

11.2 Policyholders

12.

Ceded reinsurance premiums payable (net of ceding commissions)

8,426,012

17,653,709

13.

Funds held by company under reinsurance treaties

14.

Amounts withheld or retained by company for account of others

6,028,977

7,321,416

15.

Remittances and items not allocated

1,764,631

504,612

16.

Provision for reinsurance (including $

certified)

17.

Net adjustments in assets and liabilities due to foreign exchange rates

18.

Drafts outstanding

19.

Payable to parent, subsidiaries and affiliates

3,378,748

2,158,597

21.

Payable for securities

6,551,160

22.

Payable for securities lending

24.

Capital notes $

and interest thereon $

25.

Aggregate write-ins for liabilities

4,359,799,324

4,092,727,820

26.

Total liabilities excluding protected cell liabilities (Lines 1 through 25)

5,330,158,167

5,360,033,467

27.

Protected cell liabilities

28.

Total liabilities (Lines 26 and 27)

5,330,158,167

5,360,033,467

29.

Aggregate write-ins for special surplus funds

30.

Common capital stock

5,000,000

5,000,000

31.

Preferred capital stock

32.

Aggregate write-ins for other than special surplus funds

33.

Surplus notes

34.

Gross paid in and contributed surplus

1,098,231,032

1,289,320,525

35.

Unassigned funds (surplus)

153,099,053

110,356,454

36.

Less treasury stock, at cost:

36.1

58,915

shares common (value included in Line 30

$

2,945,750 )

187,581,941

187,581,941

36.2

shares preferred (value included in Line 31

$

)

37.

Surplus as regards policyholders (Lines 29 to 35, less 36)

1,068,748,144

1,217,095,038

38.

Totals (Page 2, Line 28, Col. 3)

6,398,906,311

6,577,128,505

DETAILS OF WRITE-INS

2501.

Contingency reserve per Wisconsin Administrative Code Section 3.09(14)

4,326,312,612

4,056,128,239

2502.

Accrual for premium refunds

32,800,000

37,300,000

2503.

Liability for pension benefits

(2,735,001)

(3,263,505)

2598.

Summary of remaining write-ins for Line 25 from overflow page

3,421,713

2,563,086

2599.

Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)

4,359,799,324

4,092,727,820

2901.

2902.

2903.

2998.

Summary of remaining write-ins for Line 29 from overflow page

2999.

Totals (Lines 2901 through 2903 plus 2998)(Line 29 above)

3201.

3202.

3203.

3298.

Summary of remaining write-ins for Line 32 from overflow page

3299.

Totals (Lines 3201 through 3203 plus 3298)(Line 32 above)

1

2

3

Current

Prior Year

Prior Year Ended

Year to Date

to Date

December 31

UNDERWRITING INCOME

1.

Premiums earned:

1.1 Direct (written $

551,114,383

)

570,212,385

580,331,594

1,151,932,663

1.2 Assumed (written $

96,169 )

142,697

602,499

747,165

1.3 Ceded (written $

68,453,126

)

68,453,126

87,609,541

163,032,330

1.4 Net (written $

482,757,426 )

501,901,956

493,324,552

989,647,498

DEDUCTIONS:

2.

Losses incurred (current accident year $

65,308,213 ):

2.1 Direct

(124,617,953)

76,147,375

59,975,419

2.2 Assumed

(347,670)

(88,780)

(658,897)

2.3 Ceded

(12,057,159)

16,851,852

9,639,124

2.4 Net

(112,908,464)

59,206,743

49,677,398

3.

Loss adjustment expenses incurred

(4,832,791)

9,584,010

14,154,524

4.

Other underwriting expenses incurred

108,926,877

101,556,784

197,868,309

5.

Aggregate write-ins for underwriting deductions

270,184,373

280,340,917

554,093,063

6.

Total underwriting deductions (Lines 2 through 5)

261,369,995

450,688,454

815,793,294

7.

Net income of protected cells

8.

Net underwriting gain or (loss) (Line 1 minus Line 6 + Line 7)

240,531,961

42,636,098

173,854,204

INVESTMENT INCOME

9.

Net investment income earned

76,373,729

75,646,604

149,710,833

10.

Net realized capital gains (losses) less capital gains tax of $

(762,308)

(2,867,730)

(4,069,177)

(4,561,580)

11.

Net investment gain (loss) (Lines 9 + 10)

73,505,999

71,577,427

145,149,253

OTHER INCOME

12.

Net gain or (loss) from agents' or premium balances charged off (amount recovered

$

95,098

amount charged off $

)

95,098

(69,587)

(67,387)

13.

Finance and service charges not included in premiums

14.

Aggregate write-ins for miscellaneous income

(1,326,436)

5,395

5,737

15.

Total other income (Lines 12 through 14)

(1,231,338)

(64,192)

(61,650)

16.

Net income before dividends to policyholders, after capital gains tax and before all other federal

and foreign income taxes (Lines 8 + 11 + 15)

312,806,622

114,149,333

318,941,807

17.

Dividends to policyholders

18.

Net income, after dividends to policyholders, after capital gains tax and before all other federal and

foreign income taxes (Line 16 minus Line 17)

312,806,622

114,149,333

318,941,807

19.

Federal and foreign income taxes incurred

66,546,389

(577,663)

29,368,504

20.

Net income (Line 18 minus Line 19)(to Line 22)

246,260,233

114,726,996

289,573,303

CAPITAL AND SURPLUS ACCOUNT

21.

Surplus as regards policyholders, December 31 prior year

1,217,095,038

1,336,037,188

1,336,037,188

22.

Net income (from Line 20)

246,260,233

114,726,996

289,573,303

23.

Net transfers (to) from Protected Cell accounts

24.

Change in net unrealized capital gains (losses)

less capital gains tax of $

(13,201)

4,850,049

8,099,288

11,936,858

25.

Change in net unrealized foreign exchange capital gain (loss)

26.

Change in net deferred income tax

3,849,524

(23,992,775)

(38,956,278)

27.

Change in nonadmitted assets

(4,508,292)

(4,614,756)

(20,668,376)

28.

Change in provision for reinsurance

31.

Cumulative effect of changes in accounting principles

15,175,463

15,175,463

32.

Capital changes:

32.1 Paid in

33. Surplus adjustments:

33.1

Paid in

(191,089,493)

33.2

Transferred to capital (Stock Dividend)

35.

Dividends to stockholders

(208,910,507)

(8,911,559)

(408,911,559)

36.

Change in treasury stock

37.

Aggregate write-ins for gains and losses in surplus

1,201,592

2,545,886

32,908,439

38.

Change in surplus as regards policyholders (Lines 22 through 37)

(148,346,894)

103,028,543

(118,942,150)

39.

Surplus as regards policyholders, as of statement date (Lines 21 plus 38)

1,068,748,144

1,439,065,731

1,217,095,038

DETAILS OF WRITE-INS

0501.

Contingency reserve contribution per Wisconsin Administrative Code Section Insurance

3.09(14)

270,184,373

280,340,917

554,093,063

0502.

0503.

0598.

Summary of remaining write-ins for Line 5 from overflow page

0599.

Totals (Lines 0501 through 0503 plus 0598)(Line 5 above)

270,184,373

280,340,917

554,093,063

1401.

Other revenue

2,651

5,395

5,737

1402.

Federal Home Loan Bank prepayment fee

(1,329,087)

1403.

1498.

Summary of remaining write-ins for Line 14 from overflow page

1499.

Totals (Lines 1401 through 1403 plus 1498)(Line 14 above)

(1,326,436)

5,395

5,737

3701.

SSAP 92 & SSAP 102 net funded status adjustments

1,201,592

2,545,886

32,908,439

3702.

3703.

3798.

Summary of remaining write-ins for Line 37 from overflow page

3799.

Totals (Lines 3701 through 3703 plus 3798)(Line 37 above)

1,201,592

2,545,886

32,908,439

1

2

3

Current Year

Prior Year

Prior Year Ended

To Date

To Date

December 31

Cash from Operations

1.

Premiums collected net of reinsurance

467,970,397

475,847,969

954,822,350

2.

Net investment income

97,397,058

93,379,990

190,374,905

3.

Miscellaneous income

97,749

(64,192)

(61,650)

4.

Total (Lines 1 to 3)

565,465,204

569,163,767

1,145,135,605

5.

Benefit and loss related payments

(13,992,076)

22,557,041

54,818,089

6.

Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts

7.

Commissions, expenses paid and aggregate write-ins for deductions

120,433,356

109,418,403

205,943,494

8.

Dividends paid to policyholders

9.

Federal and foreign income taxes paid (recovered) net of $

437,561 tax on capital

gains (losses)

32,571,049

(784,000)

(1,962,731)

10.

Total (Lines 5 through 9)

139,012,329

131,191,444

258,798,852

11.

Net cash from operations (Line 4 minus Line 10)

426,452,875

437,972,323

886,336,753

12.1

Bonds

421,229,604

392,463,946

658,780,716

12.2

Stocks

2,250,000

12.3

Mortgage loans

12.4

Real estate

1,985,309

3,015,783

3,927,551

12.5

Other invested assets

12.6

Net gains or (losses) on cash, cash equivalents and short-term investments

38,571

(4,279)

(9,861)

12.7

Miscellaneous proceeds

520,000

(520,000)

12.8 Total investment proceeds (Lines 12.1 to 12.7)

426,023,484

395,475,450

662,178,406

13. Cost of investments acquired (long-term only):

13.1

Bonds

393,247,619

835,361,225

1,136,380,745

13.2

Stocks

13.3

Mortgage loans

13.4

Real estate

1,357,798

2,495,783

4,342,207

13.5

Other invested assets

13.6

Miscellaneous applications

(6,551,160)

22,770,000

22,770,000

13.7

Total investments acquired (Lines 13.1 to 13.6)

388,054,257

860,627,008

1,163,492,952

14.

Net increase (or decrease) in contract loans and premium notes

15.

Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)

37,969,227

(465,151,558)

(501,314,546)

RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

18.

Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)

(62,659,174)

(31,081,708)

(25,002,995)

19.

Cash, cash equivalents and short-term investments:

19.1 Beginning of year

133,585,821

158,588,816

158,588,816

19.2 End of period (Line 18 plus Line 19.1)

70,926,647

127,507,108

133,585,821

20.0001.

Line 12.1

Bonds - Retuof capital to Parent

40,327,560

20.0002.

Line 12.2

Stocks - Dividend to Parent

8,911,559

8,911,559

20.0003.

Line

16.2

Capital and paid in surplus - Retuof capital to Parent

(40,327,560)

20.0004.

Line

16.5

Dividends to stockholders - Dividend to Parent

8,911,559

8,911,559