NMI Holdings, Inc. Named to San Francisco Business Times’ Top Middle Market Companies List
Private mortgage insurer recognized on list of the Bay Area’s fastest-growing mid-sized companies for third consecutive year
EMERYVILLE, Calif., June 29, 2022 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (NASDAQ: NMIH), the parent company of National Mortgage Insurance Corporation (National MI), has been named to the San Francisco Business Times’ Middle Market 75 List of the fastest-growing mid-sized companies in the Bay Area. The 75 companies are headquartered in Alameda, Contra Costa, Marin, San Francisco and San Mateo counties. This is the third consecutive year National MI has been recognized on the list.
The Middle Market 75 List is comprised of publicly-traded and privately held companies with annual revenue between $25 million and $1 billion. Companies recognized on the list in 2022 were ranked by weighted scores that took into account both the percentage growth and dollar increase in their revenue from 2019 to 2021. National MI generated $485 million of total revenue in 2021, up 28% compared to $379 million of total revenue in 2019.
“It’s an honor to be recognized on the San Francisco Business Times’ Middle Market 75 List for the third consecutive year,” said Adam Pollitzer, President and CEO of National MI. “In 2021, we delivered record NIW volume, grew our high-quality insured portfolio and achieved record revenue and profitability. National MI is leading with impact, helping a record number of borrowers gain access to housing and providing them support as they build long-term value and community. Looking forward, we see a compelling opportunity to continue to support borrowers in need, drive strong growth in our high-quality insurance in-force and deliver strong financial results.”
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. To learn more, please visit www.nationalmi.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act”), the U.S. Private Securities Litigation Reform Act of 1995, or in releases made by the U.S. Securities and Exchange Commission (“SEC”), all as may be amended from time to time. Forward-looking statements are statements about future, not past, events and rely on a number of assumptions concerning future events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding National MI’s positioning for its future performance. More information about the risks, uncertainties and assumptions affecting National MI include, but are not necessarily limited to, the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K and in other filings made with the SEC. We do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.
John M. Swenson
Vice President, Investor Relations and Treasury