---
schema_version: "secwatch.filing_event.v1"
accession: "0001547903-26-000004"
form_type: "8-K"
ticker: "NMIH"
cik: "0001547903"
company_name: "NMI Holdings, Inc."
filed_at: "2026-02-10T23:59:59+00:00"
generated_at: "2026-05-16T03:35:09.529201+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NMI Holdings Q4 net income $94.2M ($1.20 EPS); FY 2025 record results, insurance-in-force up 5%

## Summary
- Q4 net income $94.2M ($1.20 diluted EPS) vs $86.2M ($1.07) in Q4 2024; adjusted EPS $1.20.
- Full-year 2025 net income $388.9M ($4.92 EPS) vs $360.1M ($4.43) in 2024; record annual results.
- Primary insurance-in-force $221.4B (+5% YoY); new insurance written $14.2B (+19% YoY).
- Q4 loss ratio 13.9% (vs 12.0% YoY); expense ratio 20.4% (vs 21.7% YoY); underwriting expenses flat.
- Book value per share ex-unrealized gains $34.58 (+16% YoY); annualized ROE 14.8%.

## SEC filing metadata
- accession: 0001547903-26-000004
- form_type: 8-K
- ticker: NMIH
- cik: 0001547903
- company_name: NMI Holdings, Inc.
- filed_at: 2026-02-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1547903/000154790326000004/0001547903-26-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1547903/000154790326000004/nmih-20260210.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001547903-26-000004
- JSON: https://secwatch.observer/filing/0001547903-26-000004.json
- Plain text: https://secwatch.observer/filing/0001547903-26-000004.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.