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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.
Genworth Financial reported a net income of $104 million for Q3 2022, down 67% from $314 million a year earlier. The adjusted operating income also fell 33% to $159 million. The company achieved its debt target of under $1 billion, successfully redeeming $152 million of its debt. Enact's adjusted operating income was $156 million, while U.S. Life Insurance posted $11 million. Notably, annual premium rate increases of $47 million were approved, enhancing net present value by $300 million. The risk-based capital ratio for U.S. life insurance is estimated at 285%.
Enact Holdings, Inc. (Nasdaq: ACT) will release its third quarter earnings on November 1, 2022, after market close. A conference call to discuss the results is scheduled for November 2, 2022, at 8:00 a.m. (ET). Earnings materials will be accessible on their website at https://ir.enactmi.com/. Investors can join the conference call via telephone or webcast. The call will be archived online for one year. Enact is a leading U.S. private mortgage insurance provider, focused on supporting homeownership through partnerships with lenders.
Genworth Financial, Inc. (NYSE: GNW) will release its third quarter earnings after market close on November 1, 2022. A conference call to discuss the results is scheduled for November 2, 2022, at 9:00 a.m. ET. The earnings release, summary presentation, and financial supplement will be accessible on their website.
Additionally, Enact Holdings, Inc. (NASDAQ: ACT) will host its earnings call earlier the same day at 8:00 a.m. ET.
Genworth Financial (NYSE: GNW) mourns the loss of former board member William H. Bolinder, who passed away on September 29, 2022. Bolinder served on the Board from 2010 to 2019, contributing significantly as Chair of the Nominating and Corporate Governance Committee. He was highly regarded for his financial services expertise and instrumental in shaping Genworth's direction. Bolinder previously held leadership roles at Acadia Trust and Zurich Financial Services Group, demonstrating a strong commitment to the company's success.
Genworth Financial, Inc. (NYSE: GNW) has successfully redeemed all $152 million of its 4.800% Senior Notes due 2024. The total cash outlay for this redemption amounted to approximately $155 million, covering the principal, a make-whole premium, and accrued interest up to September 21, 2022. This strategic move is part of Genworth's efforts to manage debt efficiently while enhancing its financial position.
Enact Holdings has secured approximately $201 million in excess of loss reinsurance coverage, effective September 1, 2022. This credit risk transfer transaction encompasses existing mortgage insurance policies established between January 1 and June 30, 2022. The reinsurance is backed by a panel of highly rated reinsurers. This marks Enact's third such transaction in 2022, reinforcing its strong capital efficiency and risk management strategy. Since 2015, Enact has completed around $4.6 billion in CRT transactions, underscoring its robust market access.
Enact Holdings, Inc. (Nasdaq: ACT) has appointed mortgage industry expert Neenu Kainth as its new Chief Customer Experience Officer. Kainth brings over 20 years of experience, having previously served as EVP Chief Digital Officer at Newrez and Chief Digital Officer at Mr. Cooper. CEO Rohit Gupta emphasized Kainth's knowledge and leadership as vital for the company's growth. Kainth holds a Bachelor and Master of Science in Computer Science from Arizona State University, along with an Executive MBA from the University of Pennsylvania’s Wharton School.
Genworth Financial, Inc. (NYSE: GNW) announced that its subsidiary, Genworth Holdings, Inc., will redeem all outstanding 4.800% Senior Notes due 2024. The redemption date is set for September 21, 2022, with the redemption price at 100% of the principal plus a make-whole premium and accrued interest. The Bank of New York Mellon Trust Company will act as the Paying Agent for this transaction.
This strategic move reflects Genworth's focus on managing its debt portfolio efficiently.
Enact Holdings, Inc. (Nasdaq: ACT) announced a quarterly dividend of $0.14 per share, set to be paid on September 9, 2022, to shareholders on record by August 26, 2022. The dividend reflects the company's ongoing commitment to returning value to shareholders. Enact is a prominent provider of private mortgage insurance, dedicated to enhancing homeownership opportunities while maintaining a strong financial foundation.
Enact Holdings, Inc. (NASDAQ: ACT) reported a strong second quarter 2022, achieving a net income of $205 million or $1.25 per diluted share, up from $165 million in Q1 2022. Adjusted operating income also rose to $205 million or $1.26 per diluted share. Total insurance in-force reached a record $238 billion, marking a 9% year-over-year growth. Despite lower new insurance written (NIW) of $17 billion, the company maintains a solid balance sheet and a 20.1% return on equity. PMIERs sufficiency stands at 166%, indicating robust financial health.
