TORONTO, May 1, 2025 – Sagen MI Canada Inc. (the “Company“) (TSX: MIC.PR.A) announced a net income of $131 million for the first quarter of 2025.

First Quarter 2025 Financial Results

The net income of $131 million was $14 million less than the net income reported during the same period last year. This decrease is primarily attributed to a decline in investment income, which was partially offset by an increase in net insurance service results.

Preferred Dividends

The company also communicated that its Board of Directors has declared a dividend of $0.3375 per Class A preferred share, Series 1. This dividend is scheduled to be paid on June 30, 2025, to shareholders who are recorded as of the close of business on June 13, 2025.

Sagen MI Canada Inc. indicates that all dividends paid or considered for Canadian federal, provincial, or territorial income tax purposes are designated as “eligible dividends,” unless otherwise specified for dividends paid after this notification. All recipients of these dividends are hereby notified of this designation.

Detailed Operating Results

For further details regarding the Company’s operating results, please consult the Management’s Discussion & Analysis, which has been posted on SEDAR+ and is accessible at . 

This Press Release, along with the Company’s condensed consolidated Financial Statements and Management’s Discussion & Analysis for the first quarter of 2025, are also available in the Investor section of the Company’s website, . Investors are encouraged to review all of these documents.

About Sagen MI Canada Inc.

Sagen MI Canada Inc., through its fully owned subsidiary, Sagen Mortgage Insurance Company Canada (operating as Sagen^TM), stands as Canada‘s largest private sector residential mortgage insurer. The Company offers mortgage default insurance to Canadian residential mortgage lenders, which facilitates homeownership for first-time buyers. Sagen distinguishes itself with excellent customer service, cutting-edge processing technology, and a strong risk management framework. The Company has been a supporter of the housing market for more than 20 years through its thought leadership and commitment to the safety and stability of the mortgage finance system. As of March 31, 2025, the Company’s total assets amounted to $6.8 billion, with shareholders’ equity totaling $2.9 billion. More information is available at .

Contact Information:

Investors – Amit Chalam, 905-287-5393
Media – Remco Appel, 647-880-0724

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SOURCE Sagen Mortgage Insurance Company Canada

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