IIF loan performance remained strong and persistency on in-force policies continued to increase from 2021 lows. Capital Markets ILN issuances have largely stopped – driven by high cost of coverage – leading to increases in traditional reinsurance utilized by the PMIs.

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 2022.

The full 1Q 2022 report provides 20+ pages of figures and commentary covering:

• Summary of NIW
• Annual insurer-level composition
• Summary of IIF
• Volume/persistency
• Performance
• Summary of capital markets ILN issuances
• New issuance
• Appendix: Additional excerpts from earnings calls

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.

Download the full report