RADIAN GROUP INC — Form 8-K

Radian Group (market cap ~$4.8B) reported Q2 2026 net income from continuing operations of $118 million ($0.87/diluted share), down from $154 million ($1.11/share) in Q2 2025. Net premiums earned surged 116% YoY to $504 million, driven by the Inigo acquisition (closed Feb 2, 2026) which created the new Specialty segment (53% of net premiums earned). Mortgage segment generated $236 million net premiums earned with a 35.8% combined ratio; Specialty segment generated $267 million net premiums earned with a 97.7% combined ratio (elevated by $169 million loss provision including Middle East conflict reserves). Radian Guaranty paid $200 million dividend to holding company in Q2; company repurchased $76 million shares and paid $37 million dividends. Book value per share grew 8.5% YoY to $36.00. Primary mortgage insurance in force reached record $284 billion. Company is divesting Title and Real Estate Services businesses and winding down Mortgage Conduit operations.