Welcome to our dedicated page for Enact Holdings news (Ticker: ACT), a resource for investors and traders seeking the latest updates and insights on Enact Holdings stock.
Enact Holdings, Inc. (ACT) provides essential mortgage insurance services that stabilize the U.S. housing market by transferring credit risk from lenders. This page serves as your definitive source for official company announcements and market-moving developments.
Access curated updates including earnings reports, regulatory filings, and strategic initiatives that demonstrate ACT's underwriting expertise. Investors gain critical insights into risk management practices influencing the residential mortgage sector.
Discover press releases about leadership changes, product innovations, and partnerships that shape ACT's position in housing finance. All content is verified for accuracy, helping stakeholders make informed decisions without promotional bias.
Bookmark this page for streamlined access to ACT's evolving role in mortgage guaranty insurance. Check regularly for updates that matter to lenders, investors, and housing market participants.
Rhea-AI Summary
Enact Holdings, Inc. (ACT) reported a strong fourth quarter and full-year financial performance, with GAAP net income of $157 million and $666 million, respectively. The company returned over $300 million to shareholders in 2023 and achieved a record primary insurance in-force of $263 billion, marking a 6% increase from the previous year. However, new insurance written (NIW) decreased by 27% from the previous quarter, and net premiums earned were down 1% sequentially. Despite this, the company's persistency rate increased to 86%, and the PMIERs Sufficiency was 161%. Enact also made significant moves in the reinsurance market and received positive ratings from S&P Global Ratings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.86%
Tags
-
Rhea-AI Summary
Enact Holdings, Inc. (Nasdaq: ACT) has secured $255 million of excess of loss reinsurance coverage for its Enact Mortgage Insurance Corporation, through a credit risk transfer transaction effective January 1, 2024. The reinsurance coverage is provided by a panel of reinsurers rated 'A-' or better by Standard & Poor’s or A.M. Best Company, Inc. Enact's President and CEO, Rohit Gupta, expressed satisfaction with the transaction, highlighting the company's ability to distribute and minimize credit risk and enhance capital efficiency.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.55%
Tags
-
Rhea-AI Summary
Genworth Financial, Inc. (NYSE: GNW) will release its Q4 earnings on February 21, 2024, followed by a conference call on February 22, 2024, to discuss the results. Enact Holdings, Inc. (Nasdaq: ACT), Genworth's subsidiary, will also hold a conference call on February 7, 2024, to discuss its Q4 results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.11%
Tags
Rhea-AI Summary
Enact Holdings, Inc. (ACT) receives third S&P upgrade since IPO, highlighting strong performance and capital position.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.68%
Tags
-
Rhea-AI Summary
Enact Holdings, Inc. (Nasdaq: ACT) will issue its fourth quarter earnings release on February 6, 2024, and host a conference call to review the financial results on February 7, 2024 at 8:00 a.m. (ET). The earnings release, summary presentation, and financial supplement will be available through the company's website. Participants can join the call's live question and answer session by pre-registering. A live webcast of the event will also be available on the company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.25%
Tags
-
Rhea-AI Summary
Enact Holdings, Inc. (Nasdaq: ACT) secures 21% of quota share reinsurance coverage from a panel of third-party reinsurance providers. Enact Mortgage Insurance Corporation has entered into a quota share reinsurance agreement with highly rated reinsurers, ceding 21% of expected new insurance written for 2024. The agreement diversifies capital sources, improves risk profile, and supports high-quality new business. President and CEO Rohit Gupta expresses confidence in responsibly helping more people become homeowners.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.28%
Tags
Rhea-AI Summary
Enact Holdings, Inc. (Nasdaq: ACT) secures $248 million of fully collateralized excess of loss reinsurance coverage through an ILN transaction with Triangle Re 2023-1 Ltd. This transaction covers a portfolio of existing seasoned mortgage insurance policies and is funded by issuing four classes of mortgage ILNs with a 10-year legal maturity and a 5-year call option. President and CEO Rohit Gupta emphasizes the success of the transaction and its positive impact on the company's capital structure.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.04%
Tags
-
Rhea-AI Summary
Genworth Financial, Inc. (NYSE: GNW) reported a net income of $29 million and adjusted operating income of $42 million for the third quarter of 2023. Enact segment adjusted operating income reached $134 million, with a PMIERs1 sufficiency ratio of 162%2. The company experienced volatility in its LTC results but made progress on its multi-year rate action plan. Genworth also executed $80 million in share repurchases in the quarter and successfully completed a consent solicitation for 2034 Senior Notes, providing greater financial flexibility.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.33%
Tags
-
Rhea-AI Summary
Enact Holdings, Inc. (Nasdaq: ACT) reported GAAP net income of $164 million, or $1.02 per diluted share, for the third quarter of 2023. The company achieved a record primary insurance-in-force of $262 billion, an 8% increase from the third quarter of 2022. Enact also announced a quarterly cash dividend of $0.16 per common share and a special cash dividend of $0.71 per common share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.87%
Tags
Rhea-AI Summary
Enact Holdings, Inc. (Nasdaq: ACT) has declared a quarterly cash dividend of $26 million ($0.16 per share) and a special cash dividend of $113 million ($0.71 per share). The dividends will be payable on December 5, 2023, to shareholders of record as of November 16, 2023. Enact aims to return $300 million of capital to shareholders in 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.87%
Tags
Enact Holdings, Inc.
Nasdaq:ACT
ACT Rankings
ACT Stock Data
5.33B
28.54M
81.66%
19.44%
1.04%
Insurance - Specialty
Insurance Agents, Brokers & Service
United States
RALEIGH