Financial Services

Private Mortgage Insurance Market 2025–2029: Tracking 9.1% CAGR Toward $9.71 Billion in Revenue

October 16, 2025 by The Business Research Company

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How Will The Private Mortgage Insurance Market Size Evolve Between Now And 2029?

The size of the private mortgage insurance market has seen significant growth in the past few years. It is projected to expand from a value of $6.24 billion in 2024 to $6.84 billion in 2025 with a compound annual growth rate (CAGR) of 9.5%. The past growth in this sector is a product of several factors such as better capital allocation from banks, enhanced risk of default due to economic fluctuation, the growing recognition of the advantages of PMI termination, the increased use of mortgage brokers, and a spike in initiatives aimed at improving financial literacy.

The size of the private mortgage insurance market is predicted to witness robust expansion in the coming years. Its growth is anticipated to reach $9.71 billion by 2029, with a compound annual growth rate (CAGR) of 9.2%. Factors contributing to the market growth in the projected period include increased home prices, a boom in housing demand, escalating urbanization, an expanding middle-class demographic, and government schemes promoting home ownership. Upcoming trends for this period encompass risk quantification tools powered by artificial intelligence, platforms for digital mortgages, automated underwriting systems, assimilation with fintech solutions, and the use of blockchain for data protection.

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Which Key Drivers Are Powering Growth In The Private Mortgage Insurance Market?

The expansion of the homeownership rates is expected to drive the growth of the private mortgage insurance market. Homeownership, defined as the legal right to possess and live in a residential property purchased by an individual or family, is on the rise due to low fixed mortgage interest rates. These rates provide long-term payment stability and render homeownership more affordable compared to renting for many families. Private mortgage insurance promotes homeownership by allowing prospective homebuyers to qualify for a mortgage with a lower down payment. This makes it simpler and quicker for them to purchase a home without the need for considerable immediate savings. For instance, data from the UK’s Department for Levelling Up, Housing and Communities in May 2023 disclosed that owner-occupied residences accounted for roughly 64.1% of the entire housing stock as of 31 March 2022, increasing from 63.8% the previous year. Thus, The increase in homeownership rates is propelling the growth of the private mortgage insurance market.

How Is The Global Private Mortgage Insurance Market Structured By Key Segments?

The private mortgage insurance market covered in this report is segmented

1) By Type: Borrower-Paid, Lender-Paid, Single Premium, Split Premium

2) By Coverage: Primary, Pool

3) By Distribution Channel: Banks, Mortgage Brokers, Online Platforms, Other Distribution Channels

4) By End-User: First-Time Homebuyers, Repeat Homebuyers

Subsegments:

1) By Borrower-Paid: Monthly Premium, Annual Premium, Escrowed Payments, Auto-Debit Option, Online Billing Portals

2) By Lender-Paid: Built-In Rate Adjustment, Single Lender Plan, Multiple Loan Tier Plans, Bundled Premium Agreements, Hidden-Cost Disclosure Plans

3) By Single Premium: Upfront Lump-Sum Payment, Financed Into Loan, Refundable Premium Option, Non-Refundable Premium Option, Hybrid Payment Models

4) By Split Premium: Partial Upfront With Monthly, Tiered Split Options, Custom Ratio Models, Borrower-Lender Shared Plans, Deferred Monthly Kick-In

What Future-Focused Trends Are Anticipated In The Private Mortgage Insurance Market?

Prominent firms in the private mortgage insurance market are channeling their efforts towards ideating innovative solutions such as digital initiatives to re-engineer perspectives and encourage broader adoption of lenders mortgage insurance (LMI). Digital strategies primarily utilize online mediums like social media, email, videos, and webinars to increase engagement with financial products and provide education to stakeholders while also modifying public understanding. For example, in March 2025, Australian company Helia Group Limited, a purveyor of lenders mortgage insurance, introduced a campaign known as LMI Lets Me In, specifically catered for mortgage brokers. The campaign distinguishes itself through the usage of digital channels, webinars, podcasts, and multilingual content to aid brokers in dealing with a diverse client base. It displays how Lenders Mortgage Insurance can accelerate the process of home buying by nearly nine years and contribute to escalating equity within five years. The initiative’s goal is to transition the perception of LMI from being a monetary encumbrance to an asset, aiding in both client procurement and lenders’ long-term risk plans.

Which Companies Hold A Competitive Edge In The Private Mortgage Insurance Market?

Major companies operating in the private mortgage insurance market are Zurich Insurance Group, Chubb Ltd., American International Group Inc., QBE Insurance Ltd., Arch Capital Group Ltd., First American Financial Corporation, Genworth Financial Inc., AXIS Capital Holdings Ltd., Radian Group Inc., Mortgage Guaranty Insurance Corporation (MGIC), Enact Holdings Inc., Essent Guaranty Inc., National Mortgage Insurance Holdings Inc. (NMI), Triad Guaranty Inc., MassHousing, CUMIS Group Ltd., Eagle Star Insurance Company Ltd., CMFG Life Insurance Company, Amerin Guaranty Corporation, Financial Security Assurance Inc.

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Which Region Is Expected To Lead The Private Mortgage Insurance Market In The Next Few Years?

North America was the largest region in the private mortgage insurance market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in private mortgage insurance report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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