MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default …
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Competitive advantage assessment
Key strengths
Strong Return on EquityROE signal is strong (score 0.82), with ROE at 14.3% — indicating efficient capital deployment.
Consistent Capital Returns Through CyclesCapital adequacy stability is high (score 0.88), demonstrating resilience through insurance market cycles.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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MGIC Investment Corporation ranks #2 of 19
scored companies in Insurance - Specialty by moat score — the top 11%.
The widest moat in the group is NMI Holdings Inc (NMIH)
at 78/100.
Moat scores for companies ranked near MTG in Insurance - Specialty
How MTG scores on the Insurance & Reinsurance defenses
Underwriting Discipline
Score 58
· 25% of the moat score
Underwriting discipline is the core insurance moat, and it consists mostly of the willingness to lose business.
Float Investment Quality
Score 70
· 20% of the moat score
Float is the money an insurer holds between collecting premiums and paying claims — capital it invests but does not own.
Pricing Power
Score 69
· 18% of the moat score
For an insurer, pricing power is the ability to push rate ahead of claims inflation and keep the policyholders anyway.
Capital Strength & Solvency
Score 86
· 17% of the moat score
Capital is what lets an insurer credibly promise to pay a claim that has not happened yet, and it is scrutinised by regulators and rating agencies alike.
Operational Efficiency
Score 83
· 12% of the moat score
The expense ratio — what it costs to acquire and administer a policy — is the half of the combined ratio management fully controls.
Scale & Diversification
Score 91
· 8% of the moat score
Diversification is a real economic advantage in insurance rather than a portfolio preference: risks spread across perils, geographies and lines are less likely to arrive at once, so the same capital supports more premium.
MGIC Investment Corporation (MTG) scores 73 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #2 of 19 scored companies in Insurance - Specialty, the top 11%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 18 companies in Insurance - Specialty. Its strongest defense is Scale & Diversification (91/100) and its weakest is Underwriting Discipline (58/100).
How does MGIC Investment Corporation compare with other Insurance - Specialty companies?
MGIC Investment Corporation ranks #2 of 19 scored companies in Insurance - Specialty by moat score. The widest moat in Insurance - Specialty is NMI Holdings Inc (NMIH) at 78/100. The companies ranked closest are NMI Holdings Inc (NMIH) at 78 just above it and Radian Group Inc. (RDN) at 73 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Insurance & Reinsurance in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 18 companies in Insurance - Specialty. The defenses are then weighted to produce the overall score out of 100.
Why is MGIC Investment Corporation scored with the Insurance & Reinsurance template?
An insurer is paid before it knows what its product cost, and invests the money in the meantime. Profit therefore comes from two sources that must both work: pricing risk better than rivals, and earning a return on the float those premiums create. The Insurance template scores that pair, along with the capital that lets a company survive the year in which the losses arrive together.
Which competitive defenses are measured for MGIC Investment Corporation?
The Insurance & Reinsurance template measures 6 defenses, and MTG scores: Underwriting Discipline (58), Float Investment Quality (70), Pricing Power (69), Capital Strength & Solvency (86), Operational Efficiency (83), Scale & Diversification (91). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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