MGIC losses widen

Organizations:

Milwaukee-based MGIC Investment Corp. continues to post hefty losses. The company today reported a first quarter net loss of $72.9 million, or 31 cents per share, up significantly from a net loss of $19.56 million, or 10 cents per share, in the first quarter of 2012.

 
The company reported total revenue of $269.2 million, down 29.1 percent from its first quarter 2012 total revenue of $379.68 million.

However, new insurance written in the first quarter was $6.5 billion, up 55 percent compared to $4.2 billion in the first quarter of 2012.

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