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MGIC Investment board expands share buyback program

MGIC Investment Corp.'s board has approved an additional share repurchase program under which the company can buy back up to $200 million of its common shares through the end of 2020.

The company, which currently has about 356 million common shares outstanding, anticipates funding the buybacks with cash and investments. About $25 million is remaining under the company's current repurchase program, which was announced in April 2018 and will continue through the end of 2019.