NMI Holdings, Inc. (NASDAQ:NMIH) Q3 2019 Earnings Conference Call - Final Transcript
Nov 06, 2019 • 05:00 pm ET
In summary, we achieved record results in insurance-in-force, net premiums earned, expense ratio, adjusted net income, EPS and return on equity. As we look forward, we believe that we are well positioned to continue delivering strong mid-teen returns that are significantly in excess of our cost of capital. We expect that the growing size and attractive credit profile of our insured portfolio, along with our broadly disciplined approach to risk management, expenses and capital optimization will continue to drive our performance.
With that, I'll turn it over to Claudia for her closing remarks.
Claudia J. Merkle
Thank you, Adam. The broader economic environment remained strong and private MI market conditions are healthy in terms of volume, industry competition, credit quality and the regulatory environment. Against this backdrop, we are delivering record performance across our platform, with continued momentum in terms of customer engagement, NIW volume, insured portfolio growth and bottom line financial results.
We trace our strong performance in the quarter to the steady, disciplined manner, in which we've built our business. Our goal, from the start, has been to build a franchise that is both durable and successful. We are executing on this vision and are well positioned to continue to win with customers, drive growth in our high quality insured portfolio, maintain the right risk return balance and deliver strong results for our shareholders.
With that, I'll ask the operator to join so we can take your questions.