The 1Q 2024 NIW market was the smallest since 2017. Relative market share within LTV bands shows variability. Embedded equity in the in-force portfolio was highlighted on earnings call, underscoring the strong position of many borrowers.
Since 2018, Milliman has been tracking the Private Mortgage Insurer (PMI) New Insurance Written (NIW) landscape and Insurance In Force (IIF) performance to keep our finger on the pulse of the market. The linked publication provides information and context regarding trends and differences amongst the PMIs’ businesses for 1Q 2024.
The full 1Q 2024 report provides 20+ pages of figures and commentary covering:
- Summary of NIW
- LTV band-level market share
- Summary of IIF
- Volume/persistency
- Performance
- Summary of capital markets ILN issuances
- Appendix: Additional excerpts from earnings calls
- Embedded equity
The data used to compile this report includes publicly available PMIs’ disclosures (Earnings Releases, Financial Supplements, and 10-K/Qs) as well as additional aggregated industry data extracted from Milliman’s M-PIRe platform.