Enact Releases Monthly Operating Statistics
On October 13, 2021, Enact Holdings, Inc. (Nasdaq: ACT) released its monthly operating statistics for September 2021, detailing credit performance metrics such as total primary delinquencies and claims paid. The report is accessible on Enact's investor relations website. Due to improved economic conditions, the company plans to discontinue monthly reports and will provide selected metrics in quarterly earnings releases moving forward.
- Improvement in overall economic conditions leading to a strategic shift in reporting metrics.
- Transition to quarterly earnings releases could streamline investor communications.
- Discontinuation of monthly operating statistics may reduce transparency for investors.
- Potential risks related to future economic downturns and uncertainties surrounding Covid-19.
RALEIGH, N.C., Oct. 13, 2021 /PRNewswire/ -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today released monthly operating statistics related to credit performance of their insurance portfolio for the month of September 2021. The information includes total primary delinquencies, new delinquencies, cures and claims paid.
The report is posted on Enact's investor relations website. Due to the recent improvement in overall economic and market conditions, Enact intends to discontinue monthly reporting of operating statistics, and instead report selected metrics in its quarterly earnings releases and related materials.
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About Enact Holdings, Inc.
Enact, operating principally through its wholly owned subsidiary Genworth 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. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, and the quotations of management. These forward-looking statements are distinguished by use of words such as "will," "would," "anticipate," "expect," "believe," "designed," "plan," 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 uncertainty around Covid-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in the United States and in other countries around the world, changes in political, business, regulatory, and economic conditions and other factors described in the risk factors contained in our filings with the Securities and Exchange Commission, 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, the Company 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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SOURCE Enact Holdings, Inc.
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