MGIC Investment (MTG) in Milwaukee reported a nearly fourfold jump in income for the second quarter driven primarily by lower incurred losses as new insurance increased.

MGIC's profit more than tripled to $45.5 million, from $12.4 million in the same quarter a year earlier. Earnings per share increased from 4 cents to 12 cents, missing by 2 cents the average estimate of analysts polled by Bloomberg.

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