Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
MGIC Investment's Claims Ratio % for the quarter that ended in Dec. 2023 was -4.20%
, which is lower than
0.00% for the pervious quarter ended in Sep. 2023.
MGIC Investment's Claims Ratio % for the annual that ended in Dec. 2023 was -2.20%
, which is higher than
-25.30% for the pervious year ended in Dec. 2022.
The historical rank and industry rank for MGIC Investment's Claims Ratio % or its related term are showing as below:
MTG's Claims Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Claims Ratio % only.
MGIC Investment Claims Ratio % Historical Data
The historical data trend for MGIC Investment's Claims Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of MGIC Investment's Claims Ratio %
For the Insurance - Specialty subindustry, MGIC Investment's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
MGIC Investment (NYSE:MTG) Claims Ratio % Calculation
Claims Ratio % is calculated as
Claims Ratio %
=
Total Claims
/
Total Premiums Earned
*
100%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MGIC Investment (NYSE:MTG) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
MGIC Investment Claims Ratio % Related Terms
Thank you for viewing the detailed overview of MGIC Investment's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
MGIC Investment (MGIC Investment) Business Description
MGIC Investment Corp provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The insurance premiums that these customers pay for the protection accounts for close to majority of the company's total revenue. Investment income accounts for the remaining revenue. The company sells its insurance products in all 50 states of the United States and in Puerto Rico. Its greatest exposure is in California, Florida, Texas, Pennsylvania, Ohio, Illinois, Virginia, North Carolina, Georgia and New York.
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