Find out how the mortgage insurer fared in Q2
Sagen MI Canada Inc. reported net income of $111 million for the second quarter ended July 31, 2025, down $40 million from the same quarter in 2024. The company attributed the year-over-year decline primarily to a lower net insurance service result and reduced investment income.
A news release also highlighted that the company’s Board of Directors declared a quarterly dividend of $0.3375 per Class A preferred share, Series 1. The dividend is payable on September 29, 2025, to shareholders of record at the close of business on September 15, 2025. All dividends have been designated as “eligible dividends” for Canadian federal, provincial, and territorial income tax purposes, unless otherwise indicated.
As of June 30, 2025, Sagen MI, operating through its wholly owned subsidiary, Sagen Mortgage Insurance Company Canada, reported approximately $6.7 billion in total assets and $2.8 billion in shareholders’ equity.
At its annual general meeting held in June, shareholders approved all resolutions put forward. All 11 nominees to the Board of Directors were elected. As of the meeting’s record date, approximately 64.99% of the company’s outstanding common shares were represented in the vote.
Sagen continues to play a significant role in facilitating homeownership in Canada, particularly for first-time homebuyers and newcomers. Its mortgage insurance offerings, including Homebuyer 95 and New to Canada programs, are designed to support borrowers with as little as 5% down payments.
Despite macroeconomic pressures and regulatory developments in 2025, including proposed changes to financial reporting standards and the introduction of voluntary sustainability disclosures, the company stated in March that these measures had no material impact on its financial performance in early 2025.
Further details on the company’s operating results and outlook can be found in the Company’s Management’s Discussion & Analysis as posted on SEDAR+.
