Welcome to our dedicated page for Enact Holdings news (Ticker: ACT), a resource for investors and traders seeking the latest updates and insights on Enact Holdings stock.
Enact Holdings, Inc. (Nasdaq: ACT) is a U.S. private mortgage insurance provider headquartered in Raleigh, North Carolina, operating principally through Enact Mortgage Insurance Corporation. News about ACT often centers on its role in the U.S. housing finance market and its efforts to help more people achieve homeownership through private mortgage insurance.
On this page, readers can follow Enact’s announcements about quarterly earnings, capital management actions and strategic initiatives. The company regularly issues press releases detailing financial results, including metrics related to primary insurance in-force, new insurance written, loss ratios and capital sufficiency. These updates are often accompanied by information on dividends, share repurchases and other capital return decisions.
Enact’s news flow also includes information about its risk and capital management activities. Recent announcements have highlighted quota share reinsurance agreements and excess of loss reinsurance transactions with panels of highly rated reinsurers, which are part of a diversified credit risk transfer program covering portions of expected new insurance written for future book years. In addition, the company has reported on the establishment of a senior unsecured revolving credit facility designed to enhance borrowing capacity and financial flexibility.
Investors and observers can also find details on Enact’s scheduled earnings conference calls, including dates and times for discussions of quarterly results. These communications typically reiterate the company’s focus on disciplined risk management, expense management and its stated mission of supporting responsible homeownership. For anyone tracking the mortgage insurance segment of the finance and insurance sector, Enact’s news provides insight into how a private mortgage insurer manages its portfolio, capital structure and relationship with its majority owner, Genworth Financial, Inc.
Enact Holdings (Nasdaq: ACT) has received significant ratings upgrades from Fitch Ratings, demonstrating the company's strong financial performance and capital position. Fitch has upgraded the insurance financial strength rating of Enact Mortgage Insurance to A from A-, and elevated Enact's senior debt rating to BBB from BBB-. Both ratings maintain a stable outlook.
CEO Rohit Gupta emphasized that these upgrades reflect the company's success in strengthening its financial foundation and executing strategic priorities while maintaining effective risk management. The company remains committed to its strategy of supporting partners and creating stakeholder value.
Enact Holdings (Nasdaq: ACT) has scheduled its fourth quarter 2024 earnings release for February 4, 2025, after market close. The company will host a conference call to discuss the financial results on February 5, 2025, at 8:00 a.m. ET.
The earnings release, summary presentation, and financial supplement will be accessible through Enact's investor relations website. Participants wanting to join the Q&A session must pre-register to receive a dial-in number and PIN. A live webcast will be available for those who wish to listen without asking questions, and the recording will be archived on the company's website for one year.
Genworth Financial (NYSE: GNW) has scheduled its fourth quarter 2024 earnings release for February 18, 2025, after market close, followed by a conference call on February 19, 2025, at 9:00 a.m. ET. The earnings release, summary presentation, and financial supplement will be available on the company's investor website.
Investors can access the conference call via telephone (888-208-1820 or 323-794-2110 for international calls) using conference ID #5461958, or through webcast registration at the investor website. Additionally, Enact Holdings, Genworth's publicly traded subsidiary, will hold its Q4 earnings call on February 5, 2025, at 8:00 a.m. ET.
Enact Holdings (Nasdaq: ACT) announced that its subsidiary, Enact Mortgage Insurance , has secured two new quota share reinsurance agreements. Under these arrangements, the company will cede approximately 27% of portions of expected new insurance written for two periods: January 1-December 31, 2025, and January 1-December 31, 2026. The agreements were made with a panel of highly-rated reinsurers, demonstrating the company's commitment to risk management and capital optimization while supporting customer service in the mortgage insurance sector.
Genworth Financial (NYSE: GNW) reported Q3 2024 net income of $85M ($0.19 per diluted share) and adjusted operating income of $48M ($0.11 per diluted share). Key highlights include $124M in gross incremental premium approvals for long-term care, expansion of CareScout Quality Network to 49 states, and $36M in share repurchases. Enact reported strong performance with adjusted operating income of $148M and distributed $81M in capital returns to Genworth. The company's holding company cash and liquid assets stood at $369M, while the U.S. life insurance companies maintained an RBC ratio of 317%.
Enact Holdings reported strong Q3 2024 financial results with GAAP Net Income of $181 million ($1.15 per diluted share) and Adjusted Operating Income of $182 million ($1.16 per diluted share). The company achieved a Return on Equity of 14.7% and reached a record Primary insurance in-force of $268 billion, representing a 2% increase from Q3 2023. The company maintained strong capital position with PMIERs Sufficiency of 173% ($2,190 million). Net premiums earned increased to $249 million, up 2% from previous quarter. The company announced a quarterly cash dividend of $0.185 per common share.
Genworth Financial (NYSE: GNW) has announced its schedule for releasing third quarter results and hosting an earnings conference call. The company will release its earnings report after market close on November 6, 2024, followed by a conference call on November 7, 2024, at 9:00 a.m. (ET) to discuss the results. Investors can access the earnings release, summary presentation, and financial supplement through Genworth's investor website.
The conference call will be accessible via telephone and internet. The dial-in number is 888-208-1820 or 323-794-2110 (outside the U.S.) with conference ID #1689846. Participants can also join the webcast by registering at the investor website. Additionally, Genworth's publicly traded subsidiary, Enact Holdings, Inc. (Nasdaq: ACT), will hold its own conference call on November 7, 2024, at 8:00 a.m. (ET) to discuss its third-quarter results.
Enact Holdings, Inc. (Nasdaq: ACT) has announced its plans to release third quarter 2024 earnings after market close on November 6, 2024. The company will host a conference call to discuss these financial results on November 7, 2024 at 8:00 a.m. ET. Interested participants can pre-register for the call's live Q&A session to obtain a dial-in number and unique PIN. A live webcast of the event will also be available on Enact's investor relations website for those who wish to join without asking questions.
The earnings release, summary presentation, and financial supplement will be accessible through Enact's website at https://ir.enactmi.com/ upon their release to the public. It is recommended to join the call at least 15 minutes in advance, although registration and dialing in can be done at any time during the call. The webcast will be archived on the company's website for one year following the event.
Enact Holdings, Inc. (Nasdaq: ACT) addressed updated Private Mortgage Insurer Eligibility Requirements (PMIERs) released by Fannie Mae, Freddie Mac, and FHFA. The new guidelines will be phased in from March 31, 2025, to September 30, 2026. As of June 30, 2024, Enact had 169% of required assets under current PMIERs, about $2.1 billion above mandated thresholds. Under new standards, Enact estimates its PMIERs sufficiency ratio would be approximately 153%, exceeding requirements by $1.6 billion. After portfolio adjustments, sufficiency is projected at 160% or $1.8 billion above required assets. Enact expects to maintain compliance and does not anticipate material impacts on its PMIERs sufficiency ratio, investment portfolio yield, or capital allocation priorities, including its goal of returning $300-350 million to shareholders in 2024.
Enact Holdings, Inc. (Nasdaq: ACT), a leading private mortgage insurance provider, announced that S&P Global Ratings has assigned an A- rating to its subsidiary Enact Re, This marks Enact Re's first credit rating from S&P, with a stable outlook. The rating underscores Enact's strong capital position and disciplined execution.
Rohit Gupta, Enact's President and CEO, expressed satisfaction with the rating, viewing it as a testament to the company's financial strength. He reiterated Enact's commitment to maintaining robust financial health, serving stakeholders, and delivering significant shareholder value. This rating is the second for Enact Re since its launch, further validating its continued strong performance in the mortgage insurance market.