Radian Group Inc., a US financial services company operating in mortgage and specialty insurance, has reported a total revenue hike of 106% to $624 million for the third quarter of 2026, as net premiums earned rose to $548 million, of which 57%, or $311 million, came from the specialty segment following the firm’s acquisition of Inigo.
For the quarter, Radian reported a net income from continuing operations of $172 million, compared to $153 million in Q3’25. In Q3’26, the insurer reported pretax income of $228 million compared to $199 million for Q3’25.
The Specialty (Inigo) segment delivered a strong underwriting performance, benefiting from a benign catastrophe quarter, reporting a Q3’26 combined ratio of 80%.
For the quarter, the segment recorded total gross premiums written (GPW) of $310 million, comprising direct gross premiums written of $151 million and assumed gross premiums written of $159 million.
The Specialty arm recorded an adjusted pretax operating income of $86 million for the quarter. Meanwhile, Q3’26 provision for losses was $148 million, reflecting a benign quarter for catastrophe losses. The provision for losses this quarter also included favourable development on prior accident year loss reserves of $43 million.
The firm’s mortgage segment reported adjusted pretax operating income of $206 million for the quarter, as primary insurance in force increased 2% year over year to $286 billion.
Meanwhile, new insurance written was down 5% year over year to $15 billion, as net premiums earned and in-force portfolio premium yield remained stable at $237 million, and provisions for losses were $32 million, which included favourable reserve development on prior period defaults of $26 million.
Mike Weinbach, Chief Executive Officer, Radian, commented, “Radian delivered an excellent third quarter, with strong contributions from both our Mortgage Insurance and Specialty Insurance businesses. Total revenue more than doubled year-over-year with the addition of Inigo, and the strategic rationale for the acquisition is already showing up in our results. With two strong insurance businesses, disciplined underwriting, and significant financial flexibility, we’re focused on executing and creating long-term value for shareholders.”
