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) has successfully amended its credit facility, increasing the total amount from
Essent Group Ltd. (NYSE: ESNT) has appointed Christopher G. Curran as the new President of Essent Guaranty, Inc., effective January 1, 2022. Curran, who has over 25 years of experience in mortgage insurance and banking, will oversee all operations, including business development and risk management, while reporting to Mark A. Casale, the current CEO. Casale emphasized Curran's significant contributions over the past decade and highlighted the company's focus on enhancing shareholder value.
Essent Group Ltd. (NYSE: ESNT) has partnered with OpenClose to integrate its mortgage insurance products into OpenClose's LenderAssist™ loan origination system. This collaboration aims to streamline the mortgage insurance process by providing real-time access to Essent's pricing engine, EssentEDGE®. The integration is expected to enhance operational efficiencies for lenders by automating the MI certification workflow and delivering EssentEDGE rates instantly.
Essent Group Ltd. (NYSE: ESNT) announced that its subsidiary, Essent Guaranty, Inc., secured $439.4 million in fully collateralized excess of loss reinsurance coverage for mortgage insurance policies underwritten between April and September 2021. This coverage is from Radnor Re 2021-2 Ltd., a Bermuda-based special purpose insurer. The funding was achieved through the issuance of four classes of mortgage insurance-linked notes totaling over $439 million, with varying interest rates linked to the SOFR. The securities remain unregistered under U.S. law.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $205.4 million or $1.84 per diluted share for Q3 2021, up from $124.5 million or $1.11 a year ago. The Board declared a quarterly cash dividend of $0.19 per share, payable on December 10, 2021. Insurance in force reached $208.2 billion, new insurance written was $23.6 billion, and net premiums earned were $218.7 million. The percentage of loans in default decreased to 2.47%, indicating improved credit performance. The combined ratio improved to 15.9%.
Essent Group Ltd. (NYSE: ESNT) will hold a conference call on November 5, 2021, at 10:00 a.m. ET to discuss its third quarter 2021 results, which will be released before the market opens on the same day. The call can be accessed via the Essent website or by calling specific numbers for U.S. and international participants. A replay will be available shortly after the call. Essent is a provider of private mortgage insurance in the U.S., enhancing mortgage financing for homeowners.
Essent Group Ltd. (NYSE: ESNT) has launched an upgraded risk-based pricing engine, EssentEDGE, designed to refine mortgage insurance pricing for lenders. This next-generation platform combines proprietary risk metrics and advanced analytics with traditional credit factors, enhancing access to mortgage credit for qualified borrowers. CEO Mark A. Casale emphasized the platform's cloud-based machine learning capabilities, which processes larger datasets efficiently. The updated EssentEDGE is now available via the Online Rate Finder tool and other pricing engines.
Essent Group Ltd. (NYSE: ESNT) reported a remarkable net income of $159.8 million or $1.42 per diluted share for Q2 2021, significantly higher than $15.4 million or $0.15 in Q2 2020. The Board declared a $0.18 quarterly cash dividend, payable on September 10, 2021. Key figures include $203.6 billion in insurance in force, $25.0 billion in new insurance written, and a 23.3% combined ratio. The percentage of loans in default decreased to 2.96%. Management expressed confidence in the favorable operating environment and strong earnings performance.
Essent Group Ltd. (NYSE: ESNT) has appointed Adolfo Marzol as Special Advisor to the Chairman and CEO. Mark A. Casale, Chairman, expressed confidence in Marzol's experience in housing finance, emphasizing his significant role in the company's founding. Marzol, who has held senior positions at Essent, Fannie Mae, and Chase Manhattan Mortgage, aims to leverage his expertise to influence company strategy and growth. Essent provides private mortgage insurance in the U.S. and is committed to ESG initiatives.
Essent Group Ltd. (NYSE: ESNT) will hold a conference call on August 6, 2021, at 10:00 a.m. ET to discuss its Q2 2021 results, released prior to market opening. The call will be accessible via the company's website and through dial-in options for both U.S. and international callers. A replay will be available shortly after for two weeks. Essent Group provides private mortgage insurance in the U.S. and is licensed in all 50 states, highlighting its broad market reach.
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