MGIC Investment (MTG) Proxy filing summary

Executive summary

• Achieved strong financial results in 2025, with new insurance written at $61.9B, insurance in force at $303.1B, and a 13.5% ROE, despite a challenging market with high interest rates and home prices.

• Returned $915M to shareholders through repurchases and dividends, a 31% increase from 2024.

• Adjusted book value per share grew 42% from 2022 to 2025, and stock price rose 23% for the second consecutive year.

• S&P and Moody’s upgraded credit ratings, making the company fully investment grade with a positive outlook.

Voting matters and shareholder proposals

• Shareholders will vote on the election of ten directors, an advisory say-on-pay vote, and ratification of PricewaterhouseCoopers LLP as independent auditor for 2026.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board consists of ten nominees, eight of whom are independent; strong focus on diversity, skills, and experience relevant to the business.

• Corporate Governance Guidelines set director independence, age limits, and limits on other directorships.

• Board leadership transition planned for March 31, 2026, with Mr. Chaplin becoming Lead Director.

• Committees include Audit, Risk Management, Business Transformation & Technology, MDNG, Securities Investment, and Executive, all chaired by independent directors except Executive.