MGIC Investment Corp MTG reported second-quarter 2017 operating net income per share of 31 cents that surpassed the Zacks Consensus Estimate by 24%. The bottom line also improved 19.2% year over year. Owing to higher new insurance written in this quarter, there was a fair rise in the insurance in force. However, claims declined year over year. Meanwhile, the expense ratio remained low.MGIC Investment Corporation Price, Consensus and EPS Surprise MGIC Investment Corporation Price, Consensus and EPS Surprise | MGIC Investment Corporation QuoteOperational Update MGIC Investment recorded total operating revenue of $263.3 million, down about 0.1% year over year on lower premiums earned. Net investment income however improved 9.2% year over year to $29.7 million. New insurance written was $12.9 billion in the reported quarter, up 2.4% from $12.6 billion in the year-ago quarter on higher insurance written in the quarter. As of Jun 30, 2017, the company’s primary insurance in force was $187.3 billion, up 5.5% year over year. Persistency, or the percentage of insurance remaining in force from the preceding year, was 77.8% as of Jun 30, 2017. The company had recorded persistency of 79.9% as of Jun 30, 2017. Percentage of delinquent loans, including bulk loans, was 4.11% as of Jun 30, 2017, compared with 5.30% as of Jun 30, 2016. Primary delinquent inventory declined nearly 21.4% year over year to $41.3 billion worth of loans. Net underwriting and other expenses totaled $41.1 million, up 9% year over year. Losses incurred in the quarter narrowed to $27.3 million from $46.6 million in the year-ago quarter. The $52-million reduction in losses was due to the positive development on the company’s primary loss reserve. This apart, the company witnessed a lesser number of new delinquent notices and a lower claim rate. Total loss and expenses contracted 16% year over year to $82.6 million due to lower losses. Financial Update Book value per share, a measure of net worth, jumped nearly 9.6% year over year to $8.08 as of Jun 30, 2017. As of Jun 30, 2017, MGIC Investment had $127 million in cash and investments, down 58% year over year. Risk-to-capital ratio was 11:3:1 as of Jun 30, 2017, compared with 13:2:1 as of Jun 30, 2016. Zacks Rank Currently, MGIC Investment carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Performance of Other Insurers Among other players from the insurance industry that have reported their second-quarter earnings so far, the bottom line at Brown & Brown, Inc. BRO and Fidelity National Financial, Inc. FNF beat the respective Zacks Consensus Estimate, while The Progressive Corporation PGR missed the same. Will You Make a Fortune on the Shift to Electric Cars?Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think.See This Ticker Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Brown & Brown, Inc. (BRO): Free Stock Analysis Report MGIC Investment Corporation (MTG): Free Stock Analysis Report Progressive Corporation (The) (PGR): Free Stock Analysis Report Fidelity National Financial, Inc. (FNF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research