Radian Group Inc. (NYSE: RDN) has appointed Barry C. McCarthy to its Board of Directors, adding executive leadership experience from the payments and financial technology sectors to its governance structure. The appointment underscores Radian’s focus on leveraging external expertise in data analytics and digital transformation as it continues to evolve as a global multi-line specialty insurer.

Howard B. Culang, Non-Executive Board Chairperson of Radian, highlighted McCarthy’s background in public company leadership and transformation. Culang stated that McCarthy brings deep expertise across financial services, payments, data, and technology, noting that these perspectives will be highly relevant to Radian’s Board and management team as the company navigates its strategic evolution.

New Director Profile

Barry C. McCarthy, 62, currently serves as President, Chief Executive Officer, and member of the Board of Directors at Deluxe Corporation, a NYSE-listed Fortune 1000 company. Since joining Deluxe in 2018, McCarthy has led the organization’s shift from a legacy check-printing business into a leading payments and data company.

McCarthy holds nearly four decades of executive leadership experience across payments, financial technology, financial services, software, data and analytics, and consumer products. His previous senior leadership roles include positions at First Data, Wells Fargo, and VeriSign. He is an NACD and ACCD Certified Director and holds an MBA from the Kellogg School of Management at Northwestern University.

Strategic Alignment

McCarthy expressed confidence in Radian’s business model and growth trajectory upon joining the Board. He cited Radian’s strong reputation, differentiated business model, and clear opportunities to build on its financial strength, risk expertise, and data and analytics capabilities. McCarthy stated he looks forward to working with fellow directors and management to support the company’s continued growth and success.

Radian Group Inc. operates as a trusted global multi-line specialty insurer, helping businesses navigate risk through proprietary risk views and disciplined risk management. The company emphasizes a collaborative and customer-centric culture aimed at transforming risk into opportunity.

Radian Group Inc. reported second quarter 2026 financial results, with total revenues reaching $575 million — a 93% increase year-over-year — as the company's transformation into a global multi-line specialty insurer gained momentum following its acquisition of Inigo. Net income from continuing operations came in at $118 million, or $0.87 per diluted share, compared to $154 million, or $1.11 per diluted share, in the second quarter of 2025. On an adjusted basis, diluted net operating income per share rose to $1.14, up from $1.11 in the prior-year period.

"Our Mortgage and Specialty Insurance businesses together generated 93% revenue growth and 116% increase in net earned premiums year over year, demonstrating the strength and diversification of our insurance platform," said Radian Chief Executive Officer Rick Thornberry. "With recently announced divestitures further simplifying our portfolio and a seamless leadership transition, Radian is well-positioned to capitalize on future opportunities and deliver value for stockholders."

Key Financial Highlights

The following table summarizes key consolidated financial metrics for the quarter ended June 30, 2026, compared to the prior quarter and prior year period.

Pretax income from continuing operations for Q2 2026 was $151 million, compared to $193 million in Q2 2025. Results for the second quarter of 2026 include $39 million of purchase accounting adjustments, amortization of acquired intangible assets, and acquisition-related expenses related to the Inigo acquisition.

Segment Performance

Mortgage Segment

The Mortgage segment reported adjusted pretax operating income of $208 million for the quarter. Primary Insurance in Force reached a record $284 billion, an increase of 3% year-over-year. New Insurance Written totaled $16 billion, up 14% year-over-year, with annualized persistency of 82%. Net premiums earned grew to $236 million, supported by a stable in-force portfolio premium yield of 38 basis points. The Mortgage segment Combined Ratio was 35.8%, including an Expense Ratio of 23%. Provision for losses was $29 million, which includes favorable reserve development on prior period defaults of $20 million.

Specialty Segment

The Specialty segment, which reflects the first full quarter of Inigo results, reported adjusted pretax operating income of $29 million. Total gross premiums written were $504 million, comprising insurance gross premiums written of $229 million and reinsurance gross premiums written of $275 million. Net premiums earned were $267 million, representing 53% of total consolidated net premiums earned. The Specialty segment Combined Ratio was 97.7%. Provision for losses of $169 million includes the impact of reserves established for expected and potential claims related to the Middle East conflict, partially offset by favorable reserve development on prior accident year loss reserves of $24 million.

Balance Sheet and Capital Position

Book value per share at June 30, 2026, was $36.00, compared to $35.67 at March 31, 2026, and $33.18 at June 30, 2025, representing 8.5% growth year-over-year. Total investments stood at $6,986 million. Available holding company liquidity was $412 million as of June 30, 2026, with an additional $425 million of undrawn capacity under its unsecured revolving credit facility.

During the second quarter of 2026, Radian repurchased 2.2 million shares of common stock at a total cost of $76 million and paid $37 million in dividends to stockholders ($0.255 per share). Radian Guaranty paid an ordinary dividend of $200 million to Radian Group during the quarter and expects to pay approximately $650 million in total ordinary dividends to Radian Group during 2026, subject to prior approval from the Pennsylvania Insurance Department.

Strategic Update

Radian continued to advance its transformation strategy during the quarter. The company completed the sale of its Real Estate Services business and entered into a definitive agreement to sell its Title business to the same real estate technology and services company, pending regulatory approvals. The Mortgage Conduit business wind-down was substantially completed as of June 30, 2026. Assets held for sale declined to $64 million at June 30, 2026, from $280 million at March 31, 2026, reflecting the progress of these divestitures. In June 2026, Radian Guaranty also agreed to terms on two quota share reinsurance arrangements to proactively manage capital and risk.