Company Profile
MGIC Investment Corporation Basic Information, Manufacturing Base, Sales Area, and Competitors
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Sr. No. |
Item |
Description |
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1 |
Company Name |
MGIC Investment Corporation |
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2 |
Website |
www.mgic.com |
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3 |
Established Date |
1957 |
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4 |
Headquartered |
United States |
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5 |
Market Position/ History |
MGIC (Mortgage Guaranty Insurance Corporation) has a rich history dating back to its founding in 1957 by Max Karl, a Milwaukee real estate attorney. Frustrated with the lengthy and restrictive process of closing loans with government guarantees, Karl envisioned a private company that would insure only the top portion of a mortgage. With $250,000 in capital raised from a group of investors, including his family and friends, Karl established MGIC to provide an affordable alternative for families wanting to buy homes with less than a 20% down payment. This innovative approach became the foundation of the private mortgage insurance (PMI) industry. MGIC’s success was so impactful that by the early 1970s, all 50 states had passed legislation allowing PMI. In 1961, MGIC went public, and by 1974, Karl handed over the operational reins to Gerald Friedman while he continued as Chairman. In 1982, Baldwin-United Corp. acquired MGIC, though Baldwin-United filed for Chapter 11 bankruptcy in 1983. Despite this, MGIC remained financially strong and in compliance with insurance capital requirements. In 1985, Northwestern Mutual Life Insurance Company invested $250 million into the company, re-establishing MGIC as an independent entity. Over the decades, MGIC continued to grow, celebrating its 50th anniversary in 2007 and its 65th anniversary in 2022. The company navigated through many economic challenges, including the Great Financial Crisis, and remained a leader in the PMI industry, launching platforms like MiQ in 2019 to innovate in risk-based pricing. |
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6 |
Sales Area |
United States |
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7 |
Ticker |
NYSE: MTG |
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8 |
Competitors |
Enact Holdings, Inc Radian Group Inc. Mutual of Omaha Mortgage, Inc. |
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9 |
CEO |
Tim Mattke |
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10 |
Ownership Type |
Public |
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13 |
Contact Information |
270 E. Kilbourn Avenue, Milwaukee, WI 53202 Tel: 1-800-558-9900 |
Business Segment or Overview of MGIC Investment Corporation
MGIC is the principal subsidiary of MGIC Investment Corporation. They founded modern private mortgage insurance (PMI) in 1957, and remain the industry's premier provider today. MGIC (Mortgage Guaranty Insurance Corporation) is a leading provider of private mortgage insurance (PMI) and mortgage credit risk management solutions through its wholly-owned subsidiaries. The company supports the housing market by offering mortgage insurance and ancillary services, helping borrowers with low down payments achieve homeownership while protecting lenders against default risks. MGIC operates in a regulated environment with its insurance portfolio benefiting from favorable housing fundamentals. Its insurance-in-force has remained relatively stable, driven by an increase in persistency and fluctuations in new insurance written (NIW), influenced by factors such as mortgage rates, home prices, and GSE activities. MGIC is committed to maintaining strong cybersecurity practices, ensuring the protection of sensitive consumer and employee data while complying with federal and state privacy laws.
Mortgage Insurance Types Specification
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Product |
Product Description |
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Mortgage Insurance |
MGIC's mortgage insurance, whether borrower-paid or lender-paid, helps make homeownership more affordable for customers. In addition to providing private mortgage insurance solutions, the company offer lender partners a wide range of innovative services, training, and resources. By using mortgage insurance to mitigate risk, the quality of the mortgage as an asset is enhanced. It becomes a more secure investment for lenders holding loans in their portfolio and for investors seeking reliable purchases. Even if borrowers default, the lender or investor won’t face a total loss but will instead share the loss with the mortgage insurer. Mortgage insurance is not just a product; it's a strategic tool that can help you secure more deals by overcoming common obstacles and creating new opportunities, even for borrowers who may think they have no options left. Borrower benefits Increased buying power Expanded cash flow options Lower monthly payments Secure, competitive, predictable monthly payments |
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Profile Details
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Author Sonali Shinde
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Published 09 Oct 2025
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Last Updated 09 Oct 2025
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Reading Time~5 minutes
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CoverageSWOT, Financials, Key Employees, History
Table of Contents
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- 1.1 About MGIC Investment Corporation
- 1.2 Key Facts
- 1.3 Key Employees
- 1.3.1 Key Employee Biographies
- 1.4 History
- 1.5 Locations & Subsidiaries
- 1.5.1 Head Office
- 1.5.2 Other Locations & Subsidiaries
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- 2.1 Company Overview
- 2.2 Business Segments
- 2.3 R&D Overview
- 2.4 Brands
- 2.5 Key Company Statistics
- 2.6 Key Financials (2015–2019)
- 2.7 Share Holder Analysis
- 2.8 Regional Presence
- 2.9 Services Offered
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- 3.1 Strengths
- 3.2 Weaknesses
- 3.3 Opportunities
- 3.4 Threats
- 3.5 Key Competitors
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- 4.1 Company Metrics
- 4.2 Key Investors
- 4.3 Recent Funding & Valuation
- 4.4 Historical Funding & Valuation
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- 5.1 Acquisitions
- 5.2 Partnerships
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- 6.1 Latest News & Announcements
- 6.2 Strategic Initiatives
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- 7.1 Summary of Findings
- 7.2 Strategic Recommendations
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