Radian Group Inc., a global multi-line specialty insurer, has reported a total revenue hike of 93% to USD 575 million for the second quarter of 2026, as net premiums earned rose by USD 100 million to USD 504 million, of which 53%, or USD 267 million came from the Specialty segment following the firm’s acquisition of Inigo.
Q2’26 is Radian’s first full quarter with Inigo results, as the company’s divestitures near completion and the focus shifts to insurance.
For Q2’26, Radian generated net income from continuing operations of USD 118 million, compared to USD 154 million in Q2’25. Pretax income was USD 151 million, compared to USD 193 million for Q2’25, while adjusted pretax operating income for Q2’26 was USD 196 million compared to USD 191 million for Q2’25.
The Specialty (Inigo) segment recorded total gross premiums written (GPW) of USD 504 million, comprised of insurance GPW of USD 229 million, and reinsurance GPW of USD 275 million.
The segment recorded a combined ratio of 98%, with provision for losses of USD 169 million, which includes the impact of reserves established for expected and potential claims related to the Middle East conflict. The provision for loss also includes favourable reserve development on prior accident year loss reserves of USD 24 million. The Specialty segment reported adjusted pretax operating income of $29 million for the quarter.
The firm’s Mortgage segment reported adjusted pretax operating income of USD 208 million for the quarter. Primary insurance in force rose 3% year over year to USD 284 billion. Meanwhile, new insurance written rose 14% year over year to USD 16 billion, while net premiums earned grew to USD 236 million, with a stable in-force portfolio premium yield of 38 basis points.
The segment reported provision for losses of USD 29 million, which includes favourable reserve development on prior period defaults of USD 20 million in Q2’26. The mortgage segment reported a combined ratio of 36%, including an expense ratio of 23%.
Rick Thornberry, Chief Executive Officer, Radian, commented, “Radian delivered strong second quarter results as we benefit from our transformation into a global multi-line specialty insurer. Our Mortgage and Specialty Insurance businesses together generated 93% revenue growth and 116% increase in net earned premiums year over year, demonstrating the strength and diversification of our insurance platform.
“At the same time, our recently announced divestitures further simplify our portfolio and deepen our focus on insurance. With these actions, coupled with a seamless leadership transition, Radian is well-positioned to capitalise on future opportunities and deliver value for stockholders.”
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