Radian Group Inc. has announced its fourth-quarter and full-year 2025 financial results, revealing a net income from continuing operations of $159 million, or $1.15 per diluted share for the fourth quarter. This compares with a net income from continuing operations of $164 million, or $1.08 per diluted share for the same period in 2024. The full-year net income from continuing operations for 2025 was $618 million, or $4.39 per diluted share, compared to $660 million, or $4.28 per diluted share for 2024.
Pretax income from continuing operations for the fourth quarter of 2025 was $201 million, compared to $210 million for the same period in 2024. The full-year pretax income from continuing operations was $791 million for 2025, compared to $846 million for 2024. Adjusted pretax operating income for the fourth quarter of 2025 was $204 million, down from $220 million for the same period in 2024. Adjusted diluted net operating income per share for the fourth quarter of 2025 was $1.16, up from $1.13 for the same period in 2024. For the full year, the adjusted pretax operating income was $802 million for 2025, compared to $867 million for 2024. The adjusted diluted net operating income per share for the full year 2025 was $4.45, compared to $4.39 for 2024.
Book value per share at December 31, 2025, was $35.29, representing a 13% growth from December 31, 2024. The primary mortgage insurance in force grew to an all-time high of $282.5 billion. Radian also returned $576 million of capital to stockholders through dividends and share repurchases during 2025.
The company's CEO, Rick Thornberry, expressed satisfaction with the 2025 performance, highlighting the consistent performance of the mortgage insurance business and the disciplined management of risk and capital. Additionally, Radian completed the acquisition of Inigo in February 2026, becoming a global multi-line specialty insurer.
In the mortgage insurance segment, new insurance written was $15.9 billion in the fourth quarter of 2025, compared to $15.5 billion in the third quarter of 2025 and $13.2 billion in the fourth quarter of 2024. The total primary mortgage insurance in force was $282.5 billion as of December 31, 2025, compared to $280.6 billion as of September 30, 2025, and $275.1 billion as of December 31, 2024.
Radian Group's available liquidity increased from $995 million as of September 30, 2025, to $1.8 billion as of December 31, 2025. Radian Guaranty distributed $795 million to Radian Group through dividends and return of capital in 2025. In addition, Radian Guaranty expects to pay over $600 million in ordinary dividends to Radian Group during 2026.
Furthermore, Radian announced that it has completed its strategic acquisition of Inigo, a Lloyd’s specialty insurer, for $1.67 billion in a primarily all-cash transaction.
Radian will discuss its fourth-quarter 2025 financial results in a conference call on February 19, 2026, at 11:00 a.m. Eastern Time. As a result of these announcements, the company's shares have moved 0.52% on the market, and are now trading at a price of $33.12. If you want to know more, read the company's complete 8-K report here.
