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.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $178.1 million or $1.66 per diluted share for Q3 2022, down from $205.4 million or $1.84 per diluted share a year ago. The company announced a quarterly cash dividend of $0.23 per share, payable on December 12, 2022. New insurance written reached $17.1 billion, a decline from both the previous quarter and the same period last year. The combined ratio was 22.3%, compared to negative 16.2% in Q2 2022. A.M. Best affirmed an “A (Excellent)” financial strength rating for Essent Guaranty, Inc.
Essent Group Ltd. (NYSE: ESNT) will hold a conference call on November 4, 2022, at 10:00 a.m. ET to discuss its third-quarter results, which will be released before the market opens. The call will be accessible via internet and phone, and a replay will be available for up to two weeks. Essent, based in Bermuda, offers private mortgage insurance and risk mitigation through its subsidiary, Essent Guaranty, Inc., licensed in all 50 states. More detailed financial information will be available on Essent's website.
Essent Group Ltd. (NYSE: ESNT) has announced that its subsidiary, Essent Guaranty, Inc., secured $237.9 million in fully collateralized excess of loss reinsurance coverage for mortgage insurance policies written between October 2021 and July 2022. This coverage comes from Radnor Re 2022-1 Ltd., a special purpose insurer based in Bermuda. The reinsurance was funded through the issuance of four classes of mortgage insurance-linked notes, with 10-year maturities, targeting capital markets investors.
These securities are unregistered under the U.S. Securities Act of 1933.
Essent Group Ltd. (NYSE: ESNT) has appointed Anu (Henna) A. Karna to its Board of Directors. Mark Casale, Chairman and CEO, expressed confidence in Karna's extensive experience in innovation, data, and technology within the insurance sector. Karna boasts over 25 years in leadership roles at prominent companies including Google Cloud and AXA XL. Her expertise is expected to enhance Essent's data utilization and innovation strategies.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $231.8 million ($2.16 per diluted share) for Q2 2022, an increase from $159.8 million ($1.42 per diluted share) in Q2 2021. The company declared a quarterly cash dividend of $0.22 per share, payable on September 12, 2022, to shareholders of record on September 1, 2022. The second quarter saw new insurance written at $20.1 billion and insurance in force rising to $215.9 billion. The combined ratio was negative at (16.2%), indicating strong credit performance despite some near-term headwinds.
Essent Group Ltd. (NYSE: ESNT) announced a conference call scheduled for Friday, August 5, 2022, at 10:00 a.m. Eastern Time. The call will discuss the Company’s second quarter 2022 results, which will be released before the market opens that day. Investors can access the live broadcast via the Essent website or by phone. Replay options will also be available for both the webcast and call. Essent provides private mortgage insurance and related services in the U.S.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $274.2 million for Q1 2022, or $2.52 per diluted share, compared to $135.6 million or $1.21 per diluted share in Q1 2021. The company declared a quarterly cash dividend of $0.21 per common share, payable on June 10, 2022. As of March 31, 2022, insurance in force was $206.8 billion, while new insurance written was $12.8 billion. The provision for losses was a benefit of $106.9 million, reflecting improvements in loan defaults.
Essent Group Ltd. (NYSE: ESNT) will hold a conference call on May 6, 2022, at 10:00 a.m. Eastern Time to discuss its Q1 2022 results. The results will be announced prior to the market opening on the same day. The call can be accessed via the internet or by dialing specific numbers provided for U.S. and international callers. A replay of the conference call will be available for two weeks following the event. Essent specializes in private mortgage insurance for single-family loans in the U.S., providing capital to mitigate mortgage credit risk.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $181.0 million or $1.64 per diluted share for Q4 2021, up from $123.6 million or $1.10 per share in Q4 2020. For the full year, net income reached $681.8 million or $6.11 per share, compared to $413.0 million or $3.88 per share in 2020. A quarterly cash dividend of $0.20 per share was declared, payable on March 21, 2022. The company reported insurance in force of $207.2 billion and a 2.16% loan default rate as of December 31, 2021.
Essent Group Ltd. (NYSE: ESNT) announced a conference call for February 11, 2022, at 10:00 a.m. ET to discuss its fourth quarter and full year 2021 results. The earnings report will be released before the market opens on the same day. Investors can access the live call via the company's website or by phone. A replay will be available on the website and through a dedicated dial-in number. Essent, headquartered in Radnor, Pennsylvania, offers private mortgage insurance and related services in the U.S., providing capital to mitigate mortgage credit risk.