U.S. mortgage insurance company MGIC Investment Corp.’s board of directors has authorized a $200 million share buyback program through 2020.

MGIC has bought back around 16 million shares worth $175 million, which marks over 4 percent of the common stock outstanding.

The company plans to fund the buyback with existing $248 million cash and investments as of Dec 31, 2018.

MGIC Investment has about 356 million shares outstanding.