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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.
Enact Holdings (Nasdaq: ACT), a renowned provider of private mortgage insurance, announced the completion of a $90 million excess of loss reinsurance transaction. Effective June 1, 2024, this coverage applies to specific mortgage insurance policies issued between July 1, 2023, and December 31, 2023. The reinsurance is sourced from a panel of reinsurers rated “A-” or higher by S&P and A.M. Best, and “A3” or higher by Moody’s. Enact's President and CEO, Rohit Gupta, emphasized that this transaction is a key part of their credit risk transfer (CRT) strategy to minimize credit risk and improve capital efficiency.
Enact Holdings, a financial services company listed on Nasdaq under the ticker ACT, announced that its President and CEO, Rohit Gupta, will participate in a fireside chat at the 2024 TD Financial Services and Fintech Summit. The event will take place on June 6, 2024, at 4:15 pm Eastern Time. The chat will be webcast live, and a replay will be available on Enact's website, under the News & Events section, until September 4, 2024.
Genworth Financial (NYSE: GNW) announced the results of its 2024 annual meeting of stockholders. All nine director nominees were re-elected, including G. Kent Conrad and Karen E. Dyson. Stockholders also approved executive officer compensation and ratified KPMG LLP as the independent accounting firm for 2024. Additionally, stockholders passed an Amended and Restated Certificate of Incorporation, removing references to legacy GE provisions and granting stockholders the right to request a special meeting at a 25% ownership threshold. These changes will take effect early next month.
Enact Holdings (Nasdaq: ACT) has announced the pricing of a $750 million public offering of 6.25% Senior Notes due 2029. The settlement is expected on May 28, 2024, subject to customary closing conditions. The notes will pay interest semi-annually at a rate of 6.25% per year, maturing on May 28, 2029. Proceeds from this offering, along with other funds, will be used to redeem Enact's 6.50% Senior Notes due August 2025. J.P. Morgan Securities, Citigroup Global Markets, and Goldman Sachs are acting as joint book-running managers for the offering. The notes are offered under an automatic shelf registration statement filed with the SEC.
Enact Holdings, Inc. (Nasdaq: ACT) reported strong financial results for Q1 2024, with a GAAP Net Income of $161 million and Adjusted Operating Income of $166 million. The company achieved a Return on Equity of 13.8% and a record Primary insurance in-force of $264 billion. Enact also highlighted its capital allocation strategy and commitment to shareholders through dividends and share repurchases.
Genworth Financial, Inc. (NYSE: GNW) reported strong Q1 2024 results with net income of $139M, or $0.31 per diluted share. Enact had a solid quarter with adjusted operating income of $135M and announced a new share repurchase program. CareScout expanded its Quality Network. The company repurchased $63M in shares, increased its dividend, and maintained a strong financial position.
Enact Holdings, a leading provider of private mortgage insurance, announced a 16% increase in its quarterly dividend to $0.185 per common share. The company also introduced a new $250 million share repurchase program, in addition to its existing $100 million program. The decision reflects Enact's strong financial position and commitment to creating long-term value for shareholders.
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