Sagen MI Canada Inc. (the “Company”) (TSX: MIC.PR.A) today reported second quarter 2026 net income of $108 million.
Second Quarter 2026 Financial Results
Net income of $108 million was $3 million lower than the same quarter in the prior year, primarily due to lower insurance service result and higher insurance finance expense, which were partially offset by higher investment income.
Preferred Dividends
The Company also announced today that its Board of Directors had declared a dividend of $0.3375 per Class A preferred share, Series 1, payable on September 29, 2026, to holders of record at the close of business on September 15, 2026.
Sagen MI Canada Inc. designates any and all dividends paid or deemed for Canadian federal, provincial or territorial income tax purposes to be paid as “eligible dividends”, unless indicated otherwise in respect of dividends paid subsequent to this notification, and hereby notifies all recipients of such dividends of this designation.
About Sagen MI Canada Inc.
Sagen MI Canada Inc., operating through its wholly owned subsidiary, Sagen Mortgage Insurance Company Canada (doing business as Sagen®), is the largest private sector residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Sagen differentiates itself through customer service excellence, innovative processing technology, and a robust risk management framework. For more than three decades, the Company has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at June 30, 2026, the Company had $7.0 billion total assets and $2.8 billion shareholders’ equity. Find out more at www.sagen.ca.
Source : Sagen Mortgage Insurance Company Canada
