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. (ACT) provides essential mortgage insurance services that stabilize the U.S. housing market by transferring credit risk from lenders. This page serves as your definitive source for official company announcements and market-moving developments.
Access curated updates including earnings reports, regulatory filings, and strategic initiatives that demonstrate ACT's underwriting expertise. Investors gain critical insights into risk management practices influencing the residential mortgage sector.
Discover press releases about leadership changes, product innovations, and partnerships that shape ACT's position in housing finance. All content is verified for accuracy, helping stakeholders make informed decisions without promotional bias.
Bookmark this page for streamlined access to ACT's evolving role in mortgage guaranty insurance. Check regularly for updates that matter to lenders, investors, and housing market participants.
Long-term care costs in West Virginia have shown a significant increase, surpassing national averages according to the 2024 Cost of Care Survey by Genworth and CareScout. The survey reveals that costs across various care types continue to rise, with increases outpacing inflation rates.
The primary factors driving these cost increases are inflation and labor costs. The survey data and resources are now accessible at CareScout.com/cost-of-care, featuring interactive tools to calculate median costs of long-term care services by area, state-level data comparisons, and access to the CareScout Quality Network of vetted care providers.
The platform also offers comprehensive resources including aging care planning guides, information about long-term care funding options, and insights into person-centered care approaches.
Genworth and CareScout's 2024 Cost of Care Survey reveals that long-term care costs in Ohio have increased year-over-year, maintaining pace with national averages. The survey indicates a continued upward trend in long-term care expenses across various care types nationally, with most increases exceeding inflation rates.
The primary factors driving these cost increases are inflation and labor costs. The survey data and resources are now accessible at www.CareScout.com/cost-of-care, featuring interactive tools to calculate median long-term care costs by region, state-level data comparisons, and access to CareScout's Quality Network of care providers.
The platform also offers comprehensive resources including aging care planning guides, information on funding long-term care services, and insights into person-centered care approaches.
Genworth and CareScout's 2024 Cost of Care Survey reveals significant increases across all long-term care services. Homemaker services and assisted living communities saw the highest growth at 10%, with annual median costs reaching $75,504 and $70,800 respectively.
Key findings include:
- Home health aide costs rose 3% to $77,792 annually
- Adult day care increased 5% to $26,000 per year
- Nursing home costs grew: semi-private rooms up 7% to $111,325, private rooms up 9% to $127,750
- Assisted living occupancy rates increased from 77% to 84%
The survey identified inflation as the primary cost driver for assisted living, nursing homes, and adult day care centers, while labor costs primarily affected home care services. Notably, two-thirds of home care agencies now charge the same rate for both health aide and homemaker services.
Genworth Financial (NYSE: GNW) reported Q4 2024 results with a net loss of $1M and adjusted operating income of $15M. The company achieved full-year 2024 net income of $299M ($0.68 per diluted share) and adjusted operating income of $273M ($0.623 per diluted share).
Key highlights include: Enact's strong performance with $137M in adjusted operating income for Q4; expansion of CareScout Quality Network to all 50 states; $40M in gross incremental premium approvals for long-term care; and $51M in share repurchases at $7.32 per share during Q4.
The company's U.S. life insurance companies maintained a strong RBC ratio of 306%, reflecting statutory pre-tax income of $378M in 2024. Holding company cash and liquid assets stood at $294M at quarter-end. Through February 14th, GNW has executed $565M in total share repurchases at an average price of $5.69 per share.
Enact Holdings (ACT) reported strong Q4 and full-year 2024 results, with GAAP net income of $163 million ($1.05 per diluted share) and adjusted operating income of $169 million ($1.09 per diluted share) for Q4. The company achieved a 13.0% return on equity and 13.5% adjusted operating return on equity.
Key highlights include record primary insurance in-force of $269 billion, representing a 2% increase from Q4 2023, and PMIERs sufficiency of 167% ($2,052 million). New insurance written (NIW) was $13 billion in Q4, down 2% quarterly but up 27% year-over-year.
The company demonstrated strong capital management, returning over $350 million to shareholders in 2024 through dividends and share repurchases. A quarterly dividend of $0.185 per common share was announced.
Enact Holdings (Nasdaq: ACT) has secured two significant excess of loss (XOL) reinsurance transactions through its subsidiary Enact Mortgage Insurance The company obtained approximately $225 million and $260 million in reinsurance coverage from highly-rated reinsurance providers.
The coverage applies to expected new insurance written for the 2025 book year (January 1 - December 31, 2025) and 2026 book year (January 1 - December 31, 2026), effective from their respective start dates. All participating reinsurers maintain strong credit ratings of 'A-' or better from S&P or A.M. Best, or 'A3' or better from Moody's.
These credit risk transfer (CRT) transactions demonstrate Enact's commitment to proactive credit risk management and financial strength enhancement.
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.
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