Radian Q3 net income is $173.4m up from $142.8m in Q3 2018

Net income for US Mortgage insurer Radian is $173.4 million in Q3 2019 compared to net income for the quarter ended September 30, 2018 of $142.8 million.

Adjusted pre-tax operating income for the quarter ended September 30, 2019, was $212.7 million, compared to $196.7 million for the quarter ended September 30, 2018. Adjusted diluted net operating income per share for the quarter ended September 30, 2019, was $0.81, an increase of 14 percent compared to $0.71 for the quarter ended September 30, 2018.

Book value per share at September 30, 2019, was $19.40, an increase of 5 percent compared to $18.42 at June 30, 2019, and an increase of 24 percent compared to $15.69 at September 30, 2018.

Radian’s chief executive officer Rick Thornberry said: “I am pleased to report another excellent quarter for Radian, with net income of $173 million, a 24 percent increase in book value per share to $19.40 and return on equity of 18 percent.

“We broke another company record in the third quarter for volume of new mortgage insurance business, which drove a 9 percent year-over-year increase in our high-quality insurance in force portfolio to $237 billion. These results reflect the fundamental strength of our business model, the value of our customer partnerships and the talent of our entire Radian team."

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