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.
Letter from CEO
As the company that originated modern private mortgage insurance, MGIC's very foundation rests in the understanding that our role in the housing ecosystem makes a powerful, positive difference in the lives of homebuyers each and every day. Private mortgage insurance (PMI) allows American families to access sustainable homeownership sooner, helping set themselves and the next generation on more stable financial footing, which in turn contributes to more secure and resilient communities.
Our part in the larger whole is not lost on us, and it informs how we approach the work we do. We recognize that our success is inextricably linked to the success of our stakeholders from our co-workers, customers, investors, and our Board of Directors, to homebuyers and the wider communities and environment within which we work. MGIC is stronger, and healthier, when we approach each challenge with an eye toward longer-term solutions with mutual benefit and return.
As you will read in the following pages, it's through this holistic lens that we approach corporate sustainability, harnessing day-to-day opportunities and activities to further our larger, collective, long-term goals. From funding groundbreaking academic research on homeownership and generational wealth to piloting a co-worker-driven community grant program and continually enhancing our co-worker experience, we are committed to building on the best of the past while setting our sights ever higher for the impact we can make in the future.
These initiatives benefit greatly from our highly engaged Board of Directors, which provides essential vision and oversight and our Corporate Sustainability Council, which advances these efforts at the management level, cascading our priorities down through each functional area of our business. As you will see in this report, our high-level vision and on-the-ground commitment is very effective and helps MGIC maximize both the value we create for our stakeholders and the value on which we were founded: strong communities through homeownership.
