Corporate Sustainability Report
Through our ESG initiatives, we aim to maintain the long-term sustainability and profitability of our business model for our shareholders; support borrowers in sustainable homeownership; develop our communities to be vibrant, diverse and sustainable; create a workplace where our co-workers can thrive; hold high standards for our business conduct with our customers; and do our part to protect the environment for future generations.
As pioneers of private mortgage insurance since 1957, MGIC has helped more than 13.5 million families achieve homeownership sooner. This is a touchstone we keep coming back to when we think about the work we do, how we do it, and why we do it. Homeownership can be a powerful vehicle for financial stability and generational wealth, which means that our impact — and our responsibility — extends well beyond the walls of our company, beyond our investors, beyond our customers, and even beyond the consumers who use our product. Our work supports resilient communities and the social fabric at large.
We believe that keeping this holistic picture in mind is critical to doing well by each of these audiences to whom we are accountable. This is also good and responsible business practice, aligned with modern stakeholders’ continued expectations that businesses not only perform well, but do good. These are expectations that I for one welcome. I believe companies like ours have an incredible opportunity to lead the way when it comes to solutions and impact, and I am glad to partner with stakeholders who hold equally ambitious standards and vision for what top-performing companies can achieve.
Our strategy focuses on initiatives that honor these ambitious standards and focus on the long-term sustainability of MGIC’s business. In the following pages, you will see how this commitment bears out across all areas of the work we do at MGIC, from our internal focus on Diversity, Equity, and Inclusion and the employee experience, to our external emphasis on community involvement and greenhouse gas emission assessment.
These initiatives benefit greatly from our highly engaged Board of Directors, who provide essential vision and oversight, in partnership with our Corporate Sustainability Executive Council, who advance these efforts at the management level, cascading our priorities down through each functional area of our business. As you will see in this report, this combination of high-level vision and day-to-day commitment is a very effective combination, one that helps MGIC maximize both the value we create for our stakeholders and the value on which we were founded: that of strong communities through homeownership.