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. (NYSE: ESNT) is a Bermuda-based holding company that, together with its subsidiaries, serves the housing finance industry through private mortgage insurance, reinsurance, and title insurance and settlement services. This news page focuses on company announcements and financial updates that relate directly to Essent’s mortgage insurance portfolio, capital position, and activities in the housing finance market.
Readers can find quarterly and annual earnings releases in which Essent reports net income, earnings per share, net premiums earned, net investment income, and comprehensive income. These releases also provide detailed supplemental information on the U.S. mortgage insurance portfolio, including new insurance written, insurance in force, risk in force, policies in force, and reserve levels for losses and loss adjustment expenses.
Essent’s news frequently covers dividend declarations on its common shares and share repurchase authorizations approved by its Board of Directors, along with updates on the number of shares repurchased and related amounts under these plans. The company also announces reinsurance and risk transfer transactions, such as forward quota share agreements, excess of loss reinsurance agreements with panels of highly rated third‑party reinsurers, and mortgage insurance‑linked note transactions that provide collateralized reinsurance coverage for specified periods of new insurance written.
Other notable items in Essent’s news flow include credit rating actions by external rating agencies on the company and its insurance subsidiaries, as well as schedules and access details for earnings conference calls and related webcasts. Investors and analysts who follow ESNT can use this page to review the company’s official press releases and understand how Essent describes the performance of its mortgage insurance business, its investment portfolio, and its capital management decisions over time.
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Essent Group Ltd. (NYSE: ESNT) announced a conference call scheduled for May 5, 2023, at 10:00 a.m. ET to discuss its Q1 2023 results, which will be released before the market opens. Investors can access the call via a live broadcast on Essent's website or by dialing 888-330-2384 (U.S.) or 240-789-2701 (international) using the passcode 9824537. A replay will be available for one year on the website and for two weeks via the call-in numbers. Essent offers private mortgage insurance in the U.S., providing capital to reduce mortgage credit risk. The company is based in Bermuda and its subsidiary, Essent Guaranty, Inc., is licensed in all 50 states. For further information, visit www.essentgroup.com.
Essent Group Ltd. (NYSE: ESNT) has appointed David B. Weinstock as the new Chief Financial Officer, following his role as interim CFO since June 28, 2022. Weinstock, who also served as Vice President and Chief Accounting Officer since 2009, brings over 25 years of experience in finance and accounting. CEO Mark Casale expressed confidence in Weinstock's leadership to support the company’s growth in the mortgage insurance sector. Essent, headquartered in Bermuda, offers various mortgage-related services and is a licensed provider in all 50 states. The company emphasizes its commitment to responsible corporate citizenship.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $147.4 million or $1.37 per diluted share for Q4 2022, down from $181.0 million or $1.64 per diluted share in Q4 2021. Full year net income reached $831.4 million or $7.72 per diluted share, up from $681.8 million or $6.11 per diluted share in 2021. The company declared a quarterly cash dividend of $0.25 per share, payable on March 20, 2023. New insurance written for Q4 was $13.0 billion, compared to $17.1 billion in Q3 2022. The combined ratio rose to 24.6% in Q4 2022 from 17.4% in Q4 2021.
Essent Group Ltd. (NYSE: ESNT) announced a strategic acquisition of Agents National Title Holding Company and Boston National Holdings LLC from Incenter LLC for $100 million. This acquisition aims to enhance Essent's offerings by incorporating title insurance and settlement services into its operations. Agents National Title, licensed in 44 states, and Boston National Title, with licenses in 40 states and the District of Columbia, will bring experienced professionals to Essent. The deal is subject to regulatory approvals.
Finance of America Companies Inc. (NYSE: FOA) announces the sale of its title insurance business, Incenter, to a subsidiary of Essent Group Ltd. (NYSE: ESNT). Interim CEO Graham A. Fleming emphasized that this move aligns with FOA's strategic focus on enhancing retirement solutions through home equity. The decision comes alongside plans to discontinue forward mortgage originations and a commitment to acquiring assets from AAG. Credit Suisse acted as the financial advisor for this transaction, which awaits regulatory approval. FOA is known for its innovative finance solutions targeted at consumers seeking flexible lending options.