Welcome to our dedicated page for Essent Group news (Ticker: ESNT), a resource for investors and traders seeking the latest updates and insights on Essent Group stock.
Essent Group Ltd (ESNT) provides essential mortgage insurance and risk management solutions in the U.S. housing finance sector. This page serves as the definitive source for tracking the company's latest developments, offering investors and industry professionals timely access to official updates.
Find curated ESNT news including earnings announcements, strategic partnerships, regulatory filings, and product innovations. Our collection aggregates press releases and verified financial reports to help stakeholders monitor market-moving information and industry trends.
Key coverage areas include quarterly financial results, reinsurance agreements, underwriting service expansions, and leadership updates. All content is maintained in compliance with financial disclosure standards to ensure reliability.
Bookmark this page for streamlined access to Essent Group's evolving role in mortgage credit protection and housing market stability. Check regularly for new developments impacting risk management practices and residential lending ecosystems.
Essent Group (NYSE: ESNT) has announced the pricing of its $500 million senior unsecured notes offering. The notes will have a 6.250% interest rate, payable semiannually, and will mature on July 1, 2029. The offering is expected to close on July 1, 2024, subject to customary conditions.
The company plans to use approximately $425 million of the proceeds to repay existing term borrowings, with the remaining funds allocated for general corporate purposes. J.P. Morgan, BofA Securities, and Goldman Sachs are among the joint book-running managers for the offering.
Prospective investors can access the prospectus through the SEC's website or by contacting J.P. Morgan or BofA Securities directly. This announcement does not constitute an offer to sell or buy securities.
Essent Guaranty, a provider of mortgage insurance and subsidiary of Essent Group (NYSE: ESNT), announced an enhanced integration with PMI Rate Pro, a leader in MI pricing platforms. This collaboration now includes the ability to order mortgage insurance directly through PMI Rate Pro's platform, significantly improving efficiency and accessibility for customers. Essent's SVP of Operations, Kendra Placek, highlighted that this integration supports EssentEDGE, Essent's proprietary risk assessment and pricing engine. This enhancement builds on a partnership that began in 2020, offering direct user access and seamless API integration with loan origination systems and pricing engines.
Essent Group reported net income of $181.7 million or $1.70 per diluted share for the first quarter of 2024, up from $170.8 million or $1.59 per diluted share in the same period last year. The Board of Directors declared a quarterly cash dividend of $0.28 per common share payable on June 10, 2024. The company highlighted strong credit performance, investment income growth, and the successful integration of the title business. Essent also entered into a quota share reinsurance transaction and received positive ratings from major agencies.
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