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.
Genworth Financial reported Q2 2022 net income of $181 million, down 25% from $240 million in Q2 2021, and adjusted operating income of $176 million, a 9% decline year-over-year. Enact segment adjusted operating income grew to $167 million with a 9% increase in insurance in-force. The company executed $30 million in share repurchases and received a two-notch credit rating upgrade from Moody’s. However, U.S. Life Insurance's adjusted operating income fell to $21 million, influenced by unfavorable life insurance results despite $52 million in premium rate increases approved.
Genworth Financial, Inc. (NYSE: GNW) announces a significant upgrade from Moody's Investors Service, raising its senior unsecured debt rating from B1 to Ba2. This marks the fourth upgrade since September 2021, attributed to improved financial stability and reduced debt levels. CFO Daniel Sheehan highlighted the strengthening of the company's balance sheet and risk reduction. The upgrade does not affect the Insurer Financial Strength ratings of Genworth's life insurance subsidiaries. The outlook for the rating remains stable.
Enact Holdings (Nasdaq: ACT) plans to release its second quarter earnings on August 1, 2022, after market close. A conference call to discuss the financial results will be held on August 2, 2022, at 8:00 a.m. (ET). Interested participants can access the call via telephone or Internet, with dial-in numbers provided in the release. The earnings release and additional financial information will be available on Enact's website upon release. Investors are encouraged to enroll for email alerts for future updates.
Genworth Financial (NYSE: GNW) will release its second-quarter earnings on August 1, 2022, following which a conference call is scheduled for August 2, 2022, at 9:00 a.m. (ET). Investors can access the earnings release, presentation, and financial supplement via the company's website at investor.genworth.com. Prior to this, its subsidiary, Enact Holdings (NASDAQ: ACT), will hold its own conference call on August 2, 2022, at 8:00 a.m. (ET) to discuss its results.
On July 7, 2022, Enact Holdings, Inc. (Nasdaq: ACT) announced a five-year $200 million senior unsecured revolving credit facility, effective June 30, 2022. This facility aims to enhance the company's financial flexibility and support working capital and corporate needs. Borrowings will accrue interest based on a short-term borrowing index plus 200 basis points, with no amounts borrowed as of the announcement date. The facility is arranged by JPMorgan Chase Bank and other financial institutions, reflecting Enact's strong financial position.
Genworth Financial (NYSE: GNW) held its 2022 annual meeting, where stockholders elected all nine director nominees, including Thomas J. McInerney and Karen E. Dyson. The meeting also saw the approval of the advisory vote on executive compensation and the ratification of KPMG LLP as the independent public accounting firm for 2022. Genworth, based in Richmond, Virginia, specializes in financial products for aging families and is the parent company of Enact Holdings (NASDAQ: ACT), a leading mortgage insurance provider.
Enact Holdings, Inc. (Nasdaq: ACT) reported a strong first quarter of 2022, achieving a net income of $165 million, or $1.01 per diluted share, reflecting a substantial increase from $125 million the previous year. Key metrics included a return on equity of 16.2% and insurance-in-force reaching $232 billion, a 10% year-over-year rise. The company initiated a quarterly dividend of $0.14 per share, enhancing shareholder value. However, new insurance written saw a notable decline of 25% from last year, signaling potential market challenges.
Genworth Financial (GNW) reported Q1 2022 net income of $149 million, a 20% decline from Q1 2021, and adjusted operating income of $131 million, down 22% year-over-year. The company announced a $350 million share repurchase program, the first in over 13 years, and initiated a $0.14 quarterly dividend. While Enact segment adjusted operating income rose to $135 million driven by a strong loss performance, the U.S. Life Insurance segment posted a $4 million adjusted operating loss due to unfavorable results. Overall, strong capital ratios were reported, with a risk-based capital ratio of 296%.
Genworth Financial (NYSE: GNW) has launched a $350 million share repurchase program, the first in over 13 years. This decision reflects an improved financial position and a commitment to return capital to shareholders. Genworth plans to fund repurchases from holding company capital and future cash flows, including dividends from its investment in Enact Holdings (NASDAQ: ACT). The program allows flexibility in timing and method of repurchase, with no expiration date set. CEO Tom McInerney emphasized the company's strong financial performance and future growth initiatives.
