MGIC Investment Corporation (NYSE:MTG) Q4 2023 Earnings Call Transcript

But we think that’s still really good return business, high-quality, exceptional, and I think appropriate returns for the risk that we are ultimately taking.

Mihir Bhatia: That’s fair. Okay. Thank you for taking my questions.

Tim Mattke: Thank you.

Operator: Thank you. [Operator Instructions] Our next question comes from the line of Geoffrey Dunn from Dowling & Partners.

Geoffrey Dunn: Thanks. Good morning. Sorry, just a quick follow-up. Can you just review the specifics of your targeted minimum holding company liquidity?

Nathan Colson: Geoff, it’s Nathan. I mean what we have talked about is holding back a couple of years for the dividend to protect that for periods where we are not able to pay or don’t want to pay dividends from MGIC to the holding company. And then also a few years for interest on outstanding debt, and as that debt comes closer to being due, some amount of principal there. But with the debt not coming due now for about, I think it’s 4.5 years, August 28th, that’s not really something that we are thinking much about right now.

Geoffrey Dunn: Okay. Great. Thank you.

Tim Mattke: Thank you.

Operator: Thank you. At this time, there are no further questions. I will now turn the call back over to management for closing remarks.

Tim Mattke: Thank you, Gigi. I want to thank everyone for your interest in MGIC and remind you that we will be participating in the BofA and UBS Financial Services conferences later this month. Have a great rest of your week everyone. Thanks.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect.