Enact Re, Ltd. Receives A- Rating from S&P Global Ratings
Enact Holdings, Inc. (Nasdaq: ACT), a leading private mortgage insurance provider, announced that S&P Global Ratings has assigned an A- rating to its subsidiary Enact Re, This marks Enact Re's first credit rating from S&P, with a stable outlook. The rating underscores Enact's strong capital position and disciplined execution.
Rohit Gupta, Enact's President and CEO, expressed satisfaction with the rating, viewing it as a testament to the company's financial strength. He reiterated Enact's commitment to maintaining robust financial health, serving stakeholders, and delivering significant shareholder value. This rating is the second for Enact Re since its launch, further validating its continued strong performance in the mortgage insurance market.
Enact Holdings, Inc. (Nasdaq: ACT), un importante fornitore privato di assicurazioni ipotecarie, ha annunciato che S&P Global Ratings ha assegnato un rating di A- alla sua controllata Enact Re. Questo rappresenta il primo rating di credito per Enact Re da parte di S&P, con un outlook stabile. Il rating sottolinea la solida posizione patrimoniale di Enact e la sua esecuzione disciplinata.
Rohit Gupta, Presidente e CEO di Enact, ha espresso soddisfazione per il rating, considerandolo una testimonianza della forza finanziaria dell'azienda. Ha ribadito l'impegno di Enact a mantenere una salute finanziaria robusta, a servire gli stakeholder e a fornire un valore significativo agli azionisti. Questo rating è il secondo per Enact Re dalla sua creazione, che convalida ulteriormente le sue prestazioni solide nel mercato delle assicurazioni ipotecarie.
Enact Holdings, Inc. (Nasdaq: ACT), un proveedor líder de seguros hipotecarios privados, anunció que S&P Global Ratings ha asignado un rating de A- a su filial Enact Re. Este es el primer rating crediticio de Enact Re por parte de S&P, con un perspectiva estable. La calificación subraya la fuerte posición de capital de Enact y su ejecución disciplinada.
Rohit Gupta, Presidente y CEO de Enact, expresó su satisfacción con la calificación, considerándola un testimonio de la fortaleza financiera de la empresa. Reiteró el compromiso de Enact de mantener una sólida salud financiera, de servir a los interesados y de proporcionar un valor significativo a los accionistas. Esta calificación es la segunda para Enact Re desde su lanzamiento, validando aún más su continuo sólido desempeño en el mercado de seguros hipotecarios.
Enact Holdings, Inc. (Nasdaq: ACT), 주요 민간 모기지 보험 제공업체는 S&P 글로벌评级이 자회사 Enact Re에 A-등급을 부여했다고 발표했습니다. 이는 Enact Re가 S&P로부터 받은 최초의 신용 등급으로, 안정적 전망을 가지고 있습니다. 이 등급은 Enact의 강력한 자본 위치와 신중한 실행을 강조합니다.
Enact의 사장 겸 CEO인 Rohit Gupta는 이 등급에 대해 만족감을 표명하며, 이를 회사의 재무 강점의 증거로 보았습니다. 그는 Enact이 강력한 재무 건강을 유지하고 이해관계자에게 서비스를 제공하며 주주 가치를 실현하기 위해 노력할 것임을 다시 강조했습니다. 이 등급은 Enact Re 출범 이후 두 번째로, 모기지 보험 시장에서의 지속적인 강력한 성과를 추가로 입증하는 것입니다.
Enact Holdings, Inc. (Nasdaq: ACT), un fournisseur leader d'assurances hypothécaires privées, a annoncé que S&P Global Ratings a attribué un rating de A- à sa filiale Enact Re. Il s'agit de la première notation de crédit d'Enact Re par S&P, avec une perspective stable. Cette notation souligne la forte position en capital d'Enact et son exécution disciplinée.
Rohit Gupta, président et PDG d'Enact, a exprimé sa satisfaction quant à cette notation, la considérant comme un témoignage de la force financière de l'entreprise. Il a réaffirmé l'engagement d'Enact à maintenir une santé financière solide, à servir les parties prenantes et à offrir une valeur significative aux actionnaires. Cette notation est la seconde pour Enact Re depuis son lancement, validant ainsi sa performance continue et solide sur le marché des assurances hypothécaires.
Enact Holdings, Inc. (Nasdaq: ACT), ein führender Anbieter von privaten Hypothekenversicherungen, hat bekannt gegeben, dass S&P Global Ratings seiner Tochtergesellschaft Enact Re ein A- Rating zugewiesen hat. Dies stellt das erste Kreditrating für Enact Re von S&P dar, mit einem stabilen Ausblick. Das Rating unterstreicht die starke Kapitalposition von Enact sowie die disziplinierte Ausführung.
Rohit Gupta, Präsident und CEO von Enact, äußerte Zufriedenheit mit dem Rating und sieht es als Beweis für die finanzielle Stärke des Unternehmens. Er betonte das Engagement von Enact, eine robuste finanzielle Gesundheit aufrechtzuerhalten, den Interessengruppen zu dienen und signifikanten Aktionärswert zu liefern. Dieses Rating ist das zweite für Enact Re seit ihrer Gründung, was die anhaltend starke Leistung im Hypothekenversicherungsmarkt zusätzlich validiert.
- Enact Re, received an A- rating from S&P Global Ratings
- The rating outlook is stable
- The rating reflects Enact's strong capital position and disciplined execution
- This is the second rating for Enact Re since its launch, indicating continued strong performance
- None.
Insights
The A- rating assigned to Enact Re by S&P Global Ratings is a significant positive indicator for Enact Holdings. This rating, along with the stable outlook, reflects the company's strong financial position and disciplined operational approach. For investors, this translates to reduced risk and increased confidence in Enact's ability to meet its financial obligations.
The rating could potentially lead to lower borrowing costs for Enact, improving its financial flexibility. It may also attract more institutional investors, potentially boosting stock demand. However, it's important to note that while positive, a rating alone doesn't guarantee future performance. Investors should continue to monitor Enact's financial metrics and market position in the competitive mortgage insurance industry.
This rating news comes at a critical time for the mortgage insurance sector. With rising interest rates and a cooling housing market, Enact's strong rating could provide a competitive edge. It may help the company attract more lenders and gain market share, potentially leading to increased premium volume.
However, investors should be aware of the cyclical nature of the mortgage insurance industry. While Enact's strong position is promising, external factors like economic conditions and regulatory changes can significantly impact performance. The company's ability to navigate these challenges while maintaining its financial strength will be important for long-term success and shareholder value creation.
First Rating Assigned to Enact Re by S&P and Second Rating Since Launch Underscores Continued Strong Performance
RALEIGH, N.C., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that S&P Global Ratings has assigned an A- rating to Enact Re, Ltd. (Enact Re), a subsidiary of Enact Mortgage Insurance Company (EMICO). The outlook for the ratings is stable.
“We are pleased to have Enact Re Ltd. receive its first credit rating from S&P,” said Rohit Gupta, Enact’s President and Chief Executive Officer. “This rating is a testament to our continued strong capital position and disciplined execution. Looking ahead, we’re committed to maintaining robust financial health and serving our stakeholders while delivering significant value for our shareholders.”
Additional information regarding the rating changes can be found in the full report issued by S&P.
About Enact Holdings, Inc.
Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.
Safe Harbor Statement
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, guidance concerning the future return of capital and the quotations of management. These forward-looking statements are distinguished by use of words such as “will,” “may,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” “predict,” “project,” “target,” “could,” “should,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including risks related to an economic downturn or a recession in the United States and in other countries around the world; changes in political, business, regulatory, and economic conditions; changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; and other factors described in the risk factors contained in our 2023 Annual Report on Form 10-K and other filings with the SEC, may cause our actual results to differ from those expressed in forward-looking statements. Although Enact believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Enact can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.
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