WAYNE, PA — Radian Group Inc. (NYSE: RDN) announced its financial results for the fourth quarter and full year of 2024, achieving solid net income growth, a record-high $275.1 billion in primary mortgage insurance in force, and a 9% increase in book value per share.
For the fourth quarter, Radian reported net income of $148 million, or $0.98 per diluted share, compared to $143 million, or $0.91 per diluted share, in the same period last year. Full-year net income reached $604 million, or $3.92 per diluted share, marginally surpassing the prior year’s $603 million. Adjusted diluted net operating income per share saw similar gains, increasing to $1.09 for Q4 and $4.11 for 2024 overall.
The company’s return on equity stood at 13.4%, reflecting its sustained profitability and focus on shareholder value. Radian’s book value per share grew to $31.33 as of December 31, 2024, up from $28.71 a year earlier, supported by strategic initiatives and high-quality mortgage insurance portfolio performance.
“Our 2024 results reflect another year of strong financial performance,” said Rick Thornberry, CEO of Radian. “With record mortgage insurance in force at $275 billion, significant book value growth, and disciplined expense management, we’ve demonstrated our commitment to transforming risk into opportunity while returning meaningful value to our stockholders. We look forward to leveraging our strengths and seizing the opportunities ahead in 2025.”
Key Highlights
- Record Mortgage Insurance in Force: Primary insurance in force stood at an all-time high of $275.1 billion, a key driver of future earnings.
- Capital Returns to Shareholders: Radian returned $376 million to shareholders through dividends and share repurchases in 2024, including $111 million in Q4. This included 7 million shares repurchased at a total cost of $224 million for the year.
- Operational Performance: Net mortgage insurance premiums earned were stable at $235 million in Q4. Persistency remained steady at 84% for the year. Favorable reserve developments helped keep the loss ratio at 0%, further underscoring portfolio quality.
- Liquidity and Dividends: Radian maintained $1.2 billion in total liquidity by year-end, including an $885 million cash balance. Its subsidiary, Radian Guaranty, paid $675 million in ordinary dividends to the holding company during 2024.
Recent Ratings Upgrade
In January 2025, Fitch Ratings upgraded Radian Guaranty’s insurance financial strength rating to A from A-, while Radian Group’s senior unsecured debt rating was elevated to BBB. Both upgrades carry a stable outlook, reflecting confidence in the company’s strong financial position.
Looking Ahead
With improved credit ratings and a record year of operational success, Radian is poised to capture opportunities in the mortgage insurance sector while navigating market dynamics. “Our diversified portfolio and disciplined strategy position us to drive long-term shareholder value and growth,” Thornberry added.
Radian Group’s consistent performance, strong capital structure, and strategic focus on managing risk and opportunity signal robust potential for sustained growth in the years ahead.
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