National MI Named to San Francisco Business Times’ Middle Market 50 List

Rhea-AI Summary

NMI Holdings' subsidiary, National Mortgage Insurance Corporation, earned a spot on the San Francisco Business Times’ Middle Market 50 List, ranking 15th among the fastest-growing mid-sized companies in the Bay Area. Its revenue surged by 107.3%, from $182.74 million in 2017 to $378.77 million in 2019, surpassing the median growth of 77.7% for listed firms. In 2019, the company reported net income of $171.96 million, marking a year-over-year growth of 59.3%, with insurance-in-force increasing by 38% to $94.8 billion.

Positive

• Ranked 15th on the Middle Market 50 List for rapid growth.
• Revenue increased by 107.3% from 2017 to 2019, reaching $378.77 million.
• Reported net income of $171.96 million in 2019, up 59.3% year-over-year.
• Primary insurance-in-force rose to $94.8 billion, a 38% increase from the previous year.

Negative

• None.

EMERYVILLE, Calif., Sept. 01, 2020 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc., (NASDAQ: NMIH) has been named to the San Francisco Business Times’ Middle Market 50 List of the fastest-growing mid-sized companies in the Bay Area. National MI ranked 15 out of 50 companies on the list, which are headquartered in Alameda, Contra Costa, Marin, San Francisco and San Mateo counties.

The Middle Market 50 List is comprised of public and privately-held companies with annual revenue between $25 million and $1 billion for 2017, 2018 and 2019. National MI’s revenue increased from $182.74 million at the end of 2017 to $378.77 million at the end of 2019. This represented a revenue increase of 107.3 percent, compared to the median two-year growth of 77.7 percent for the 50 companies on the list.

“It’s an honor to make the San Francisco Business Times’ Middle Market 50 List, considering how many fast-growing companies there are based in the Bay Area,” said Claudia Merkle, CEO of National MI. “We are very pleased with our success, which reflects several years of steady growth as we’ve helped more borrowers achieve homeownership.”

In the methodology used by the San Francisco Business Times, firms were ranked by weighted scores that took into account the percent change in revenue between 2017 and 2019 and the actual value difference in revenue during the same time period. This score is meant to mitigate the difference between revenue growth at smaller companies and larger companies within the middle market.

Since 2013, National MI has grown steadily by several measures. In 2019, NMI Holdings, Inc. reported record financial results and premiums earned. It delivered $171.96 million in net income with year-over-year growth of 59.3 percent and reported primary insurance-in-force of $94.8 billion as of December 31, 2019, up 38 percent from December 31, 2018.

About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. To learn more, please visit www.nationalmi.com.

Press Contact
Mary McGarity
Strategic Vantage Mortgage Public Relations
(203) 513-2721
MaryMcGarity@StrategicVantage.com

Investor Contact
John M. Swenson
Vice President, Investor Relations and Treasury
john.swenson@nationalmi.com 
(510) 788-8417

FAQ

What is the significance of National MI's ranking on the Middle Market 50 List for NMIH?

National MI's ranking at 15th on the Middle Market 50 List highlights its rapid growth and financial performance, which can positively influence investor confidence in NMI Holdings (NMIH).

How much did National MI's revenue increase from 2017 to 2019?

National MI's revenue grew by 107.3% from $182.74 million at the end of 2017 to $378.77 million at the end of 2019.

What was NMI Holdings' net income for 2019?

NMI Holdings reported a net income of $171.96 million for the fiscal year 2019, which represents a year-over-year growth of 59.3%.

What is the primary insurance-in-force reported by National MI as of December 31, 2019?

As of December 31, 2019, National MI reported primary insurance-in-force of $94.8 billion, a 38% increase from the previous year.