Essent Group Ltd. Announces Second Quarter 2024 Results and Declares Quarterly Dividend

Rhea-AI Summary

Essent Group (NYSE: ESNT) reported net income of $203.6 million or $1.91 per diluted share for Q2 2024, up from $172.2 million or $1.61 per diluted share in Q2 2023. The company declared a quarterly cash dividend of $0.28 per common share, payable on September 10, 2024. New insurance written for Q2 2024 was $12.5 billion, with insurance in force reaching $240.7 billion as of June 30, 2024. Net investment income for H1 2024 increased by 22% year-over-year to $108.2 million. Essent also closed two transactions on July 1, 2024, providing $1 billion in total debt capacity, including $500 million in senior unsecured notes and a $500 million unsecured revolving credit facility.

Positive

• Net income increased to $203.6 million in Q2 2024, up from $172.2 million in Q2 2023
• Earnings per diluted share rose to $1.91 in Q2 2024 from $1.61 in Q2 2023
• New insurance written grew to $12.5 billion in Q2 2024 from $8.3 billion in Q1 2024
• Insurance in force increased to $240.7 billion as of June 30, 2024, up from $235.6 billion a year ago
• Net investment income for H1 2024 grew 22% year-over-year to $108.2 million
• Secured $1 billion in total debt capacity through senior unsecured notes and revolving credit facility

Negative

• New insurance written decreased year-over-year from $13.5 billion in Q2 2023 to $12.5 billion in Q2 2024

Insights

Financial Analyst

Essent Group's Q2 2024 results demonstrate robust financial performance, with net income increasing by 18.2% year-over-year to $203.6 million. This translates to earnings per diluted share of $1.91, up from $1.61 in Q2 2023. The company's strong performance can be attributed to several factors:

• Portfolio Quality: The high-quality insurance portfolio has shown resilience in the face of housing and labor market challenges, resulting in favorable credit performance.
• Interest Rate Environment: The current rate environment has positively impacted investment income and persistency. Net investment income for H1 2024 increased by 22% compared to H1 2023, reaching $108.2 million.
• New Insurance Written (NIW): Q2 2024 NIW was $12.5 billion, showing a significant increase from Q1 2024's $8.3 billion, although slightly down from Q2 2023's $13.5 billion.
• Insurance in Force: As of June 30, 2024, insurance in force grew to $240.7 billion, up from $235.6 billion a year ago, indicating steady portfolio growth.

The company's strategic moves, including the excess of loss transaction and the new debt facilities, position it well for future growth and risk management. The $1 billion in total debt capacity provides significant financial flexibility. However, investors should monitor how this additional leverage impacts the company's financial ratios and risk profile in the coming quarters.

Risk Management Expert

Essent Group's recent financial maneuvers and risk management strategies deserve attention:

• Excess of Loss Transaction: The company has entered into an excess of loss transaction covering 15% of eligible policies written by Essent Guaranty, Inc. in 2024. This move effectively transfers a portion of the risk to highly rated third-party reinsurers, potentially reducing the company's exposure to large losses.
• Debt Capacity Expansion: The closure of $500 million in senior unsecured notes and a $500 million unsecured revolving credit facility significantly enhances Essent's liquidity position. This $1 billion in total debt capacity provides a substantial financial cushion and flexibility for future operations or potential market downturns.
• Dividend Declaration: The quarterly cash dividend of $0.28 per common share indicates management's confidence in the company's financial stability and commitment to shareholder returns.

These actions suggest a proactive approach to risk management and capital allocation. The reinsurance arrangement, in particular, could help stabilize earnings in the event of unexpected claim increases. However, investors should consider the cost of these risk mitigation strategies and their impact on overall profitability. The increased debt capacity, while providing flexibility, also introduces interest expense considerations that will need to be monitored in future earnings reports.

HAMILTON, Bermuda--(BUSINESS WIRE)-- Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended June 30, 2024 of $203.6 million or $1.91 per diluted share, compared to $172.2 million or $1.61 per diluted share for the quarter ended June 30, 2023.

Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.28 per common share. The dividend is payable on September 10, 2024, to shareholders of record on August 30, 2024.

“We are pleased with our financial results in the second quarter, as our high-quality portfolio and resilience in the housing and labor markets translated to favorable credit performance, and the current rate environment continues to benefit investment income and persistency,” said Mark A. Casale, Chairman and Chief Executive Officer. “The Essent franchise achieved another milestone by closing on our inaugural senior debt offering on July 1. Combined with an amended and extended revolving credit facility, we now have over $1.3 billion in available holding company liquidity.”

Financial Highlights:

• New insurance written for the second quarter of 2024 was $12.5 billion, compared to $8.3 billion in the first quarter of 2024 and $13.5 billion in the second quarter of 2023.
• Insurance in force as of June 30, 2024 was $240.7 billion, compared to $238.5 billion as of March 31, 2024 and $235.6 billion as of June 30, 2023.
• Net investment income for the first half of 2024 was $108.2 million, up 22% from the first half of 2023.
• Effective July 1, 2024, we entered into an excess of loss transaction with a panel of highly rated third-party reinsurers covering 15% of all eligible policies written by Essent Guaranty, Inc. in calendar year 2024.
• On July 1, 2024, Essent closed two transactions that represent approximately $1 billion in total debt capacity, comprised of $500 million of senior unsecured notes and a $500 million unsecured revolving credit facility.

Conference Call:

Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results. The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and-presentations/events/default.aspx. The call may also be accessed by dialing 888-330-2384 inside the U.S., or 240-789-2701 for international callers, using passcode 9824537 or by referencing Essent.

A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800-770-2030 inside the U.S., or 647-362-9199 for international callers, passcode 9824537.

In addition to the information provided in the Company's earnings news release, other statistical and financial information, which may be referred to during the conference call, will be available on Essent's website at http://ir.essentgroup.com/financials/quarterly-results/default.aspx.

Forward-Looking Statements:

This press release may include “forward-looking statements” which are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," “should,” “expect,” "plan," "anticipate," "believe," “estimate,” “predict,” or "potential" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: 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 or the loss of a significant customer; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs; decline in the volume of low down payment mortgage originations; uncertainty of loss reserve estimates; decrease in the length of time our insurance policies are in force; deteriorating economic conditions; and other risks and factors described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on February 16, 2024, as subsequently updated through other reports we file with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

About the Company:

Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) offering private mortgage insurance, reinsurance, and title insurance and settlement services to serve the housing finance industry. Additional information regarding Essent may be found at www.essentgroup.com.

Source: Essent Group Ltd.

Essent Group Ltd. and Subsidiaries
Financial Results and Supplemental Information (Unaudited)
Quarter Ended June 30, 2024
Exhibit A		Condensed Consolidated Statements of Comprehensive Income (Unaudited)
Exhibit B		Condensed Consolidated Balance Sheets (Unaudited)
Exhibit C		Consolidated Historical Quarterly Data
Exhibit D		U.S. Mortgage Insurance Portfolio Historical Quarterly Data
Exhibit E		New Insurance Written - U.S. Mortgage Insurance Portfolio
Exhibit F		Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio
Exhibit G		Other Risk in Force
Exhibit H		U.S. Mortgage Insurance Portfolio Vintage Data
Exhibit I		U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data
Exhibit J		U.S. Mortgage Insurance Portfolio Geographic Data
Exhibit K		Rollforward of Defaults and Reserve for Losses and LAE - U.S. Mortgage Insurance Portfolio
Exhibit L		Detail of Reserves by Default Delinquency - U.S. Mortgage Insurance Portfolio
Exhibit M		Investments Available for Sale
Exhibit N		U.S. Mortgage Insurance Company Capital
Exhibit O		Ratios and Reconciliation of Non-GAAP Financial Measures

													Exhibit A
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
	Three Months Ended June 30,								Six Months Ended June 30,
(In thousands, except per share amounts)	2024				2023				2024				2023
Revenues:
Direct premiums written	$	272,910			$	249,167			$	541,841			$	488,658
Ceded premiums		(27,344	)			(39,546	)			(57,735	)			(73,137	)
Net premiums written		245,566				209,621				484,106				415,521
Decrease in unearned premiums		6,325				3,608				13,375				8,966
Net premiums earned		251,891				213,229				497,481				424,487
Net investment income		56,086				45,250				108,171				88,486
Realized investment gains (losses), net		(1,164	)			(1,589	)			(2,304	)			(2,077	)
Income (loss) from other invested assets		(419	)			(4,852	)			(2,334	)			(7,554	)
Other income		6,548				8,090				10,285				13,032
Total revenues		312,942				260,128				611,299				516,374
Losses and expenses:
Provision (benefit) for losses and LAE		(334	)			1,260				9,579				1,080
Other underwriting and operating expenses		55,987				42,174				113,336				90,369
Premiums retained by agents		10,215				—				19,706				—
Interest expense		7,849				7,394				15,711				14,330
Total losses and expenses		73,717				50,828				158,332				105,779
Income before income taxes		239,225				209,300				452,967				410,595
Income tax expense		35,616				37,067				67,639				67,535
Net income	$	203,609			$	172,233			$	385,328			$	343,060
Earnings per share:
Basic	$	1.93			$	1.62			$	3.65			$	3.22
Diluted		1.91				1.61				3.61				3.20
Weighted average shares outstanding:
Basic		105,657				106,249				105,677				106,594
Diluted		106,778				107,093				106,774				107,338
Net income	$	203,609			$	172,233			$	385,328			$	343,060
Other comprehensive income (loss):
Change in unrealized appreciation (depreciation) of investments		(5,375	)			(36,098	)			(27,141	)			22,655
Total other comprehensive income (loss)		(5,375	)			(36,098	)			(27,141	)			22,655
Comprehensive income	$	198,234			$	136,135			$	358,187			$	365,715

					Exhibit B
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
	June 30,				December 31,
(In thousands, except per share amounts)	2024				2023
Assets
Investments
Fixed maturities available for sale, at fair value	$	3,931,471			$	4,335,008
Short-term investments available for sale, at fair value		1,523,512				928,731
Total investments available for sale		5,454,983				5,263,739
Other invested assets		282,781				277,226
Total investments		5,737,764				5,540,965
Cash		197,402				141,787
Accrued investment income		35,534				35,689
Accounts receivable		56,974				63,266
Deferred policy acquisition costs		9,199				9,139
Property and equipment		42,905				41,304
Prepaid federal income tax		487,456				470,646
Goodwill and intangible assets, net		70,258				72,826
Other assets		55,253				51,051
Total assets	$	6,692,745			$	6,426,673
Liabilities and Stockholders' Equity
Liabilities
Reserve for losses and LAE	$	260,688			$	260,095
Unearned premium reserve		126,938				140,285
Net deferred tax liability		381,393				362,753
Credit facility borrowings, net of deferred costs		422,448				421,920
Other accrued liabilities		121,488				139,070
Total liabilities		1,312,955				1,324,123
Commitments and contingencies
Stockholders' Equity
Common shares, $0.015 par value:
Authorized - 233,333; issued and outstanding - 106,372 shares in 2024 and 106,597 shares in 2023		1,596				1,599
Additional paid-in capital		1,278,918				1,299,869
Accumulated other comprehensive loss		(307,637	)			(280,496	)
Retained earnings		4,406,913				4,081,578
Total stockholders' equity		5,379,790				5,102,550
Total liabilities and stockholders' equity	$	6,692,745			$	6,426,673
Return on average equity (1)		14.7	%			14.6	%
(1) The 2024 return on average equity is calculated by dividing annualized year-to-date 2024 net income by average equity. The 2023 return on average equity is calculated by dividing full year 2023 net income by average equity.

																		Exhibit C
Essent Group Ltd. and Subsidiaries
Supplemental Information
Consolidated Historical Quarterly Data
		2024								2023
Selected Income Statement Data		June 30				March 31				December 31				September 30				June 30
(In thousands, except per share amounts)
Revenues:
Net premiums earned:
U.S. Mortgage Insurance Portfolio		$	217,513			$	212,479			$	211,083			$	209,351			$	195,502
GSE and other risk share			17,745				17,826				17,166				16,850				17,727
Title insurance			16,633				15,285				17,365				20,604				—
Net premiums earned			251,891				245,590				245,614				246,805				213,229
Net investment income			56,086				52,085				50,581				47,072				45,250
Realized investment (losses) gains, net			(1,164	)			(1,140	)			(4,892	)			(235	)			(1,589	)
(Loss) income from other invested assets			(419	)			(1,915	)			(421	)			(3,143	)			(4,852	)
Other income (loss) (1)			6,548				3,737				6,395				5,609				8,090
Total revenues			312,942				298,357				297,277				296,108				260,128
Losses and expenses:
Provision (benefit) for losses and LAE			(334	)			9,913				19,640				10,822				1,260
Other underwriting and operating expenses			55,987				57,349				55,248				54,814				42,174
Premiums retained by agents			10,215				9,491				11,475				13,175				—
Interest expense			7,849				7,862				7,953				7,854				7,394
Total losses and expenses			73,717				84,615				94,316				86,665				50,828
Income before income taxes			239,225				213,742				202,961				209,443				209,300
Income tax expense (2)			35,616				32,023				27,594				31,484				37,067
Net income		$	203,609			$	181,719			$	175,367			$	177,959			$	172,233
Earnings per share:
Basic		$	1.93			$	1.72			$	1.66			$	1.68			$	1.62
Diluted			1.91				1.70				1.64				1.66				1.61
Weighted average shares outstanding:
Basic			105,657				105,697				105,733				105,979				106,249
Diluted			106,778				106,770				106,823				107,025				107,093
Book value per share		$	50.58			$	48.96			$	47.87			$	44.98			$	44.24
Return on average equity (annualized)			15.4	%			14.1	%			14.2	%			14.9	%			14.7	%
Credit Facility
Borrowings outstanding		$	425,000			$	425,000			$	425,000			$	425,000			$	425,000
Undrawn committed capacity		$	400,000			$	400,000			$	400,000			$	400,000			$	400,000
Weighted average interest rate (end of period)			7.07	%			7.06	%			7.11	%			7.07	%			6.87	%
Debt-to-capital			7.32	%			7.52	%			7.69	%			8.12	%			8.24	%
(1) Other income includes net favorable (unfavorable) changes in the fair value of embedded derivatives associated with certain of our third-party reinsurance agreements, which for the quarters ended June 30, 2024, March 31, 2024, December 31, 2023, September 30, 2023, and June 30, 2023, were $732, ($1,902), $412, ($898), and $2,726, respectively.
(2) Income tax expense for the quarters ended June 30,2024, March 31, 2024, December 31, 2023, September 30, 2023, and June 30, 2023 includes $556, ($1,041), ($1,132), ($763), and ($888), respectively, of discrete tax expense (benefit) associated with realized and unrealized gains and losses. Income tax expense for the quarter ended March 31, 2024 also includes ($616) of excess tax benefits associated with the vesting of common shares and common share units. Income tax expense for the quarter ended December 31, 2023 also includes a $2,731 net benefit associated with the recognition of a deferred tax asset for unrealized losses on the investment portfolios of Essent Group and Essent Re upon the enactment of the Bermuda Corporate Income Tax. Income tax expense for the quarter ended June 30, 2023 also includes $5,295 of net discrete tax expense associated with prior year tax returns.

						Exhibit D
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Historical Quarterly Data
		2024								2023
Other Data:		June 30				March 31				December 31				September 30				June 30
($ in thousands)
U.S. Mortgage Insurance Portfolio
New insurance written		$	12,503,125			$	8,323,544			$	8,769,160			$	12,505,823			$	13,498,080
New risk written			3,449,623				2,289,508				2,409,340				3,458,467				3,726,513
Average insurance in force		$	239,538,571			$	238,595,268			$	239,005,961			$	237,270,093			$	233,484,941
Insurance in force (end of period)		$	240,669,165			$	238,477,402			$	239,078,262			$	238,661,612			$	235,649,884
Gross risk in force (end of period) (1)		$	65,269,064			$	64,247,810			$	64,061,374			$	63,605,057			$	62,403,400
Risk in force (end of period)		$	55,521,538			$	54,686,533			$	54,591,590			$	53,920,308			$	53,290,643
Policies in force			814,237				815,752				822,012				825,248				821,690
Weighted average coverage (2)			27.1	%			26.9	%			26.8	%			26.7	%			26.5	%
Annual persistency			86.7	%			86.9	%			86.9	%			86.6	%			85.8	%
Loans in default (count)			13,954				13,992				14,819				13,391				12,480
Percentage of loans in default			1.71	%			1.72	%			1.80	%			1.62	%			1.52	%
U.S. Mortgage Insurance Portfolio premium rate:
Base average premium rate (3)			0.41	%			0.41	%			0.40	%			0.40	%			0.40	%
Single premium cancellations (4)			—	%			—	%			—	%			—	%			—	%
Gross average premium rate			0.41	%			0.41	%			0.40	%			0.40	%			0.40	%
Ceded premiums			(0.05	%)			(0.05	%)			(0.05	%)			(0.05	%)			(0.07	%)
Net average premium rate			0.36	%			0.36	%			0.35	%			0.35	%			0.33	%
(1) Gross risk in force includes risk ceded under third-party reinsurance.
(2) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force.
(3) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period.
(4) Single premium cancellations is calculated by dividing annualized premiums on the cancellation of non-refundable single premium policies by average insurance in force for the period.

																			Exhibit E
Essent Group Ltd. and Subsidiaries
Supplemental Information - U.S. Mortgage Insurance Portfolio
New Insurance Written: Flow
NIW by Credit Score
	Three Months Ended												Six Months Ended
	June 30, 2024						June 30, 2023						June 30, 2024						June 30, 2023
($ in thousands)
>=760	$	5,451,182		43.6	%		$	5,413,790		40.1	%		$	9,047,782		43.4	%		$	10,260,848		38.9	%
740-759		2,165,026		17.3				2,428,773		18.0				3,575,472		17.2				4,826,755		18.3
720-739		1,819,751		14.6				2,194,400		16.3				3,064,399		14.7				4,399,244		16.7
700-719		1,585,167		12.7				2,022,302		15.0				2,725,597		13.1				4,025,194		15.2
680-699		870,054		7.0				1,032,061		7.6				1,433,473		6.9				2,132,876		8.1
<=679		611,945		4.8				406,754		3.0				979,946		4.7				746,952		2.8
Total	$	12,503,125		100.0	%		$	13,498,080		100.0	%		$	20,826,669		100.0	%		$	26,391,869		100.0	%
Weighted average credit score		748						746						748						746
NIW by LTV
	Three Months Ended												Six Months Ended
	June 30, 2024						June 30, 2023						June 30, 2024						June 30, 2023
($ in thousands)
85.00% and below	$	854,349		6.8	%		$	988,752		7.3	%		$	1,414,248		6.8	%		$	1,951,761		7.4	%
85.01% to 90.00%		2,423,665		19.4				2,819,310		20.9				4,155,796		20.0				5,505,138		20.9
90.01% to 95.00%		6,874,853		55.0				7,339,533		54.4				11,392,508		54.7				14,769,646		55.9
95.01% and above		2,350,258		18.8				2,350,485		17.4				3,864,117		18.5				4,165,324		15.8
Total	$	12,503,125		100.0	%		$	13,498,080		100.0	%		$	20,826,669		100.0	%		$	26,391,869		100.0	%
Weighted average LTV		93	%					93	%					93	%					93	%
NIW by Product
	Three Months Ended												Six Months Ended
	June 30, 2024						June 30, 2023						June 30, 2024						June 30, 2023
Single Premium policies				1.3	%					4.3	%					1.6	%					4.1	%
Monthly Premium policies				98.7						95.7						98.4						95.9
				100.0	%					100.0	%					100.0	%					100.0	%
NIW by Purchase vs. Refinance
	Three Months Ended												Six Months Ended
	June 30, 2024						June 30, 2023						June 30, 2024						June 30, 2023
Purchase				97.8	%					98.8	%					97.6	%					98.7	%
Refinance				2.2						1.2						2.4						1.3
				100.0	%					100.0	%					100.0	%					100.0	%

																	Exhibit F
Essent Group Ltd. and Subsidiaries
Supplemental Information
Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio
Portfolio by Credit Score
IIF by FICO score		June 30, 2024						March 31, 2024						June 30, 2023
($ in thousands)
>=760		$	97,668,435		40.6	%		$	96,712,431		40.6	%		$	95,925,520		40.8	%
740-759			41,915,598		17.4				41,477,680		17.4				40,733,799		17.3
720-739			37,678,804		15.7				37,342,339		15.7				36,791,104		15.6
700-719			32,331,564		13.4				32,023,895		13.4				30,970,132		13.1
680-699			19,751,956		8.2				19,664,999		8.2				19,667,866		8.3
<=679			11,322,808		4.7				11,256,058		4.7				11,561,463		4.9
Total		$	240,669,165		100.0	%		$	238,477,402		100.0	%		$	235,649,884		100.0	%
Weighted average credit score			746						746						746
Gross RIF by FICO score		June 30, 2024						March 31, 2024						June 30, 2023
($ in thousands)
>=760		$	26,238,140		40.2	%		$	25,806,552		40.2	%		$	25,138,762		40.3	%
740-759			11,525,987		17.7				11,326,253		17.6				10,922,780		17.5
720-739			10,362,021		15.9				10,206,055		15.9				9,896,425		15.9
700-719			8,899,342		13.6				8,757,648		13.6				8,319,353		13.3
680-699			5,382,312		8.2				5,321,802		8.3				5,248,349		8.4
<=679			2,861,262		4.4				2,829,500		4.4				2,877,731		4.6
Total		$	65,269,064		100.0	%		$	64,247,810		100.0	%		$	62,403,400		100.0	%
Portfolio by LTV
IIF by LTV		June 30, 2024						March 31, 2024						June 30, 2023
($ in thousands)
85.00% and below		$	16,927,111		7.0	%		$	18,397,395		7.7	%		$	22,427,649		9.5	%
85.01% to 90.00%			61,774,991		25.7				62,218,749		26.1				63,562,258		27.0
90.01% to 95.00%			123,414,332		51.3				120,666,455		50.6				115,768,826		49.1
95.01% and above			38,552,731		16.0				37,194,803		15.6				33,891,151		14.4
Total		$	240,669,165		100.0	%		$	238,477,402		100.0	%		$	235,649,884		100.0	%
Weighted average LTV			93	%					93	%					93	%
Gross RIF by LTV		June 30, 2024						March 31, 2024						June 30, 2023
($ in thousands)
85.00% and below		$	2,010,864		3.1	%		$	2,188,074		3.4	%		$	2,667,981		4.3	%
85.01% to 90.00%			15,238,201		23.3				15,329,091		23.9				15,583,198		25.0
90.01% to 95.00%			36,405,573		55.8				35,556,840		55.3				34,026,320		54.5
95.01% and above			11,614,426		17.8				11,173,805		17.4				10,125,901		16.2
Total		$	65,269,064		100.0	%		$	64,247,810		100.0	%		$	62,403,400		100.0	%
Portfolio by Loan Amortization Period
IIF by Loan Amortization Period		June 30, 2024						March 31, 2024						June 30, 2023
($ in thousands)
FRM 30 years and higher		$	235,138,420		97.7	%		$	232,753,590		97.6	%		$	228,745,641		97.1	%
FRM 20-25 years			1,322,021		0.5				1,473,431		0.6				2,124,690		0.9
FRM 15 years			1,276,780		0.5				1,359,795		0.6				1,953,448		0.8
ARM 5 years and higher			2,931,944		1.3				2,890,586		1.2				2,826,105		1.2
Total		$	240,669,165		100.0	%		$	238,477,402		100.0	%		$	235,649,884		100.0	%

																		Exhibit G
Essent Group Ltd. and Subsidiaries
Supplemental Information
Other Risk in Force
		2024								2023
($ in thousands)		June 30				March 31				December 31				September 30				June 30
GSE and other risk share (1):
Risk in Force		$	2,304,885			$	2,307,267			$	2,244,944			$	2,247,393			$	2,276,702
Reserve for losses and LAE		$	33			$	32			$	29			$	54			$	55
Weighted average credit score			750				750				749				749				749
Weighted average LTV			82	%			82	%			82	%			82	%			83	%
(1) GSE and other risk share includes GSE risk share and other reinsurance transactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae.

																							Exhibit H
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Vintage Data
June 30, 2024
								Insurance in Force
Year	Original Insurance Written ($ in thousands)		Remaining Insurance in Force ($ in thousands)		% Remaining of Original Insurance		Number of Policies in Force	Weighted Average Coupon		% Purchase		>90% LTV		>95% LTV		FICO < 700		FICO >= 760		Incurred Loss Ratio (Inception to Date) (1)		Number of Loans in Default	Percentage of Loans in Default
2010 - 2014	$	60,668,851	$	1,047,692	1.7	%	5,772	4.28	%	66.1	%	49.8	%	1.2	%	10.3	%	49.0	%	2.4	%	252	4.37	%
2015		26,193,656		1,038,672	4.0		6,156	4.27		79.8		66.5		5.5		18.1		39.1		2.3		245	3.98
2016		34,949,319		2,570,524	7.4		15,203	3.92		86.8		79.2		13.3		16.3		41.6		2.0		427	2.81
2017		43,858,322		4,139,552	9.4		25,251	4.29		91.1		77.1		22.5		21.2		36.6		3.1		990	3.92
2018		47,508,525		5,073,930	10.7		28,900	4.80		95.1		73.3		26.7		21.8		32.4		4.1		1,257	4.35
2019		63,569,183		11,216,155	17.6		54,299	4.23		88.9		71.1		25.6		18.9		35.2		3.8		1,635	3.01
2020		107,944,065		40,789,474	37.8		159,965	3.20		71.0		60.5		14.0		10.9		45.5		2.6		2,153	1.35
2021		84,218,250		55,842,833	66.3		185,000	3.09		88.2		65.1		16.3		13.8		40.4		6.0		3,042	1.64
2022		63,061,262		54,555,338	86.5		156,491	5.08		98.0		65.8		11.4		12.6		39.6		16.8		2,598	1.66
2023		47,666,852		43,986,658	92.3		123,145	6.65		98.8		72.7		18.5		11.0		38.9		15.7		1,297	1.05
2024 (through June 30)		20,826,669		20,408,337	98.0		54,055	6.88		97.6		73.4		18.8		11.7		42.9		5.8		58	0.11
Total	$	600,464,954	$	240,669,165	40.1		814,237	4.66		90.3		67.3		16.0		12.9		40.6		4.3		13,954	1.71
(1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned.

																												Exhibit I
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data
June 30, 2024
($ in thousands)
Insurance Linked Notes (1)
																						Earned Premiums Ceded
Deal Name	Vintage		Remaining Insurance in Force		Remaining Risk in Force			Original Reinsurance in Force			Remaining Reinsurance in Force			Losses Ceded to Date			Original First Layer Retention		Remaining First Layer Retention			Quarter-to-Date		Year-to-Date				Reduction in PMIERs Minimum Required Assets (3)
Radnor Re 2021-1	Aug. 2020 - Mar. 2021		$	27,796,132	$	7,390,779		$	557,911		$	250,732		$	—		$	278,956	$	278,227		$	2,148	$	4,473			$	174,722
Radnor Re 2021-2	Apr. 2021 - Sep. 2021			32,876,424		9,007,485			439,407			301,015			—			279,415		277,770			3,563		7,237				239,363
Radnor Re 2022-1	Oct. 2021 - Jul. 2022			29,790,115		8,096,398			237,868			209,409			—			303,761		302,032			3,736		7,653				192,656
Radnor Re 2023-1	Aug. 2022 - Jun. 2023			29,594,148		8,102,672			281,462			281,462			—			281,463		281,434			3,473		6,952				266,826
Total			$	120,056,819	$	32,597,334		$	1,516,648		$	1,042,618		$	—		$	1,143,595	$	1,139,463		$	12,920	$	26,315	(5)		$	873,567

Excess of Loss Reinsurance (2)
																					Earned Premiums Ceded
Deal Name	Vintage	Remaining Insurance in Force		Remaining Risk in Force			Original Reinsurance in Force			Remaining Reinsurance in Force			Losses Ceded to Date			Original First Layer Retention		Remaining First Layer Retention			Quarter-to-Date		Year-to-Date			Reduction in PMIERs Minimum Required Assets (3)
XOL 2019-1	Jan. 2018 - Dec. 2018	$	5,024,587	$	1,321,732		$	118,650		$	76,144		$	—		$	253,643	$	244,991		$	607	$	1,227		$	—
XOL 2020-1	Jan. 2019 - Aug. 2019		6,290,687		1,658,671			55,102			32,770			—			215,605		212,557			267		547			—
XOL 2022-1	Oct. 2021 - Dec. 2022		67,094,902		18,213,963			141,992			141,992			—			507,114		502,788			1,593		3,186			137,802
XOL 2023-1	Jan. 2023 - Dec. 2023		39,252,349		10,868,626			36,627			36,627			—			366,270		366,154			434		868			35,310
Total		$	117,662,525	$	32,062,992		$	352,371		$	287,533		$	—		$	1,342,632	$	1,326,490		$	2,901	$	5,828		$	173,112

Quota Share Reinsurance (2)
														Losses Ceded							Ceding Commission					Earned Premiums Ceded
Year	Ceding Percentage		Remaining Insurance in Force		Remaining Risk in Force			Remaining Ceded Insurance in Force			Remaining Ceded Risk in Force			Quarter-to-Date			Year-to-Date				Quarter-to-Date		Year-to-Date			Quarter-to-Date		Year-to-Date			Reduction in PMIERs Minimum Required Assets (3)
Sep. 2019 - Dec. 2020	(4)		$	45,488,690	$	12,209,907		$	10,259,829		$	2,717,800		$	(609	)	$	(790	)		$	2,264	$	4,645		$	3,580	$	7,803		$	161,813
Jan. 2022 - Dec. 2022	20%			54,504,030		14,796,646			10,900,806			2,959,329			(469	)		1,255				1,879		3,784			3,101		8,445			218,858
Jan. 2023 - Dec. 2023	17.5%			39,137,562		10,840,618			6,849,073			1,897,108			1,020			2,461				1,349		2,715			3,852		8,163			143,367
Jan. 2024 - Dec. 2024	15%			20,388,139		5,620,923			3,058,221			843,138			159			159				407		508			1,035		1,252			58,872
Total			$	159,518,421	$	43,468,094		$	31,067,929		$	8,417,375		$	101		$	3,085			$	5,899	$	11,652		$	11,568	$	25,663		$	582,910
(1) Reinsurance provided by unaffiliated special purpose insurers through the issuance of mortgage insurance-linked notes ("ILNs").
(2) Reinsurance provided by panels of reinsurers.
(3) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assets based on our interpretation of the PMIERs.
(4) Reinsurance coverage on 40% of eligible single premium policies and 20% of all other eligible policies.
(5) Excludes ($45) and ($71) of benefit in ceded premium on retired ILN's for the three and six months ended June 30, 2024, respectively.

							Exhibit J
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Geographic Data
IIF by State
	June 30, 2024			March 31, 2024			June 30, 2023
CA	12.7	%		12.9	%		13.1	%
FL	11.6			11.3			10.8
TX	10.8			10.6			10.5
CO	4.1			4.1			4.1
AZ	3.8			3.8			3.7
GA	3.6			3.5			3.3
WA	3.4			3.5			3.4
NC	3.0			2.9			2.8
IL	2.7			2.7			2.9
VA	2.7			2.7			2.9
All Others	41.6			42.0			42.5
Total	100.0	%		100.0	%		100.0	%
Gross RIF by State
	June 30, 2024			March 31, 2024			June 30, 2023
CA	12.6	%		12.8	%		13.0	%
FL	11.8			11.6			11.1
TX	11.1			10.9			10.8
CO	4.1			4.1			4.1
AZ	3.8			3.8			3.8
GA	3.7			3.6			3.4
WA	3.4			3.4			3.4
NC	3.0			2.9			2.8
IL	2.6			2.7			2.8
VA	2.6			2.7			2.8
All Others	41.3			41.5			42.0
Total	100.0	%		100.0	%		100.0	%

																		Exhibit K
Essent Group Ltd. and Subsidiaries
Supplemental Information
Rollforward of Defaults and Reserve for Losses and LAE
U.S. Mortgage Insurance Portfolio
Rollforward of Insured Loans in Default
		Three Months Ended
		2024								2023
		June 30				March 31				December 31				September 30				June 30
Beginning default inventory			13,992				14,819				13,391				12,480				12,773
Plus: new defaults (A)			8,119				8,260				9,007				7,953				6,575
Less: cures			(7,956	)			(8,951	)			(7,418	)			(6,902	)			(6,761	)
Less: claims paid			(183	)			(123	)			(148	)			(129	)			(96	)
Less: rescissions and denials, net			(18	)			(13	)			(13	)			(11	)			(11	)
Ending default inventory			13,954				13,992				14,819				13,391				12,480
(A) New defaults remaining as of June 30, 2024			5,944				2,466				1,922				1,204				699
Cure rate (1)			27	%			70	%			79	%			85	%			89	%
Total amount paid for claims (in thousands)		$	5,566			$	3,605			$	3,411			$	2,956			$	1,890
Average amount paid per claim (in thousands)		$	30			$	29			$	23			$	23			$	20
Severity			60	%			65	%			54	%			66	%			58	%
Rollforward of Reserve for Losses and LAE
		Three Months Ended
		2024								2023
($ in thousands)		June 30				March 31				December 31				September 30				June 30
Reserve for losses and LAE at beginning of period		$	253,565			$	245,402			$	226,617			$	216,888			$	215,957
Less: Reinsurance recoverables			26,570				24,005				20,656				17,958				16,357
Net reserve for losses and LAE at beginning of period			226,995				221,397				205,961				198,930				199,600
Add provision for losses and LAE occurring in:
Current period		$	30,653			$	39,396			$	38,922			$	35,609			$	31,377
Prior years			(31,880	)			(30,062	)			(19,912	)			(25,533	)			(30,107	)
Incurred losses and LAE during the period			(1,227	)			9,334				19,010				10,076				1,270
Deduct payments for losses and LAE occurring in:
Current period			478				1				330				156				31
Prior years			5,205				3,735				3,244				2,889				1,909
Loss and LAE payments during the period			5,683				3,736				3,574				3,045				1,940
Net reserve for losses and LAE at end of period			220,085				226,995				221,397				205,961				198,930
Plus: Reinsurance recoverables			26,022				26,570				24,005				20,656				17,958
Reserve for losses and LAE at end of period		$	246,107			$	253,565			$	245,402			$	226,617			$	216,888
(1) The cure rate is calculated by dividing new defaults remaining as of the reporting date by the original number of new defaults reported in the quarterly period and subtracting that percentage from 100%.

										Exhibit L
Essent Group Ltd. and Subsidiaries
Supplemental Information
Detail of Reserves by Default Delinquency
U.S. Mortgage Insurance Portfolio
		June 30, 2024
		Number of Policies in Default		Percentage of Policies in Default		Amount of Reserves		Percentage of Reserves		Defaulted RIF		Reserves as a Percentage of Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less		7,024		50	%	$	43,396	19	%	$	525,876	8	%
Four to eleven payments		4,887		35			93,489	41			383,685	24
Twelve or more payments		1,908		14			82,529	37			135,616	61
Pending claims		135		1			7,562	3			8,540	89
Total case reserves		13,954		100	%		226,976	100	%	$	1,053,717	22	%
IBNR							17,023
LAE							2,108
Total reserves for losses and LAE						$	246,107
Average reserve per default:
Case						$	16.3
Total						$	17.6
Default Rate		1.71	%
		December 31, 2023
		Number of Policies in Default		Percentage of Policies in Default		Amount of Reserves		Percentage of Reserves		Defaulted RIF		Reserves as a Percentage of Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less		7,288		49	%	$	44,607	20	%	$	527,419	8	%
Four to eleven payments		5,421		37			97,424	43			417,876	23
Twelve or more payments		1,984		13			78,540	35			132,257	59
Pending claims		126		1			5,550	2			6,302	88
Total case reserves		14,819		100	%		226,121	100	%	$	1,083,854	21	%
IBNR							16,959
LAE							2,322
Total reserves for losses and LAE						$	245,402
Average reserve per default:
Case						$	15.3
Total						$	16.6
Default Rate		1.80	%
		June 30, 2023
		Number of Policies in Default		Percentage of Policies in Default		Amount of Reserves		Percentage of Reserves		Defaulted RIF		Reserves as a Percentage of Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less		5,581		45	%	$	33,864	17	%	$	388,012	9	%
Four to eleven payments		4,725		38			82,196	41			348,955	24
Twelve or more payments		2,045		16			78,236	39			123,903	63
Pending claims		129		1			5,680	3			6,687	85
Total case reserves		12,480		100	%		199,976	100	%	$	867,557	23	%
IBNR							14,998
LAE							1,914
Total reserves for losses and LAE						$	216,888
Average reserve per default:
Case						$	16.0
Total						$	17.4
Default Rate		1.52	%

												Exhibit M
Essent Group Ltd. and Subsidiaries
Supplemental Information
Investments Available for Sale
Investments Available for Sale by Asset Class
Asset Class		June 30, 2024							December 31, 2023
($ in thousands)		Fair Value				Percent			Fair Value			Percent
U.S. Treasury securities		$	999,176			18.3	%		$	996,382		18.9	%
U.S. agency securities			—			—				7,195		0.1
U.S. agency mortgage-backed securities			757,590			13.9				821,346		15.6
Municipal debt securities			524,396			9.7				547,258		10.5
Non-U.S. government securities			66,031			1.2				67,447		1.3
Corporate debt securities			1,151,976			21.1				1,297,055		24.7
Residential and commercial mortgage securities			498,987			9.1				517,940		9.8
Asset-backed securities			455,453			8.3				564,995		10.7
Money market funds			1,001,374			18.4				444,121		8.4
Total investments available for sale		$	5,454,983			100.0	%		$	5,263,739		100.0	%
Investments Available for Sale by Credit Rating
Rating (1)		June 30, 2024							December 31, 2023
($ in thousands)		Fair Value				Percent			Fair Value			Percent
Aaa		$	2,409,458			54.1	%		$	2,561,363		53.2	%
Aa1			95,534			2.1				104,474		2.2
Aa2			265,098			6.0				291,501		6.0
Aa3			187,946			4.1				208,882		4.3
A1			352,488			7.9				377,188		7.8
A2			253,728			5.7				329,423		6.8
A3			252,599			5.7				253,081		5.3
Baa1			207,665			4.7				220,901		4.6
Baa2			199,072			4.5				226,449		4.7
Baa3			158,219			3.6				166,121		3.4
Below Baa3			71,802			1.6				80,235		1.7
Total (2)		$	4,453,609			100.0	%		$	4,819,618		100.0	%
(1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available.
(2) Excludes $1,001,374 and $444,121 of money market funds at June 30, 2024 and December 31, 2023, respectively.
Investments Available for Sale by Duration and Book Yield
Effective Duration		June 30, 2024							December 31, 2023
($ in thousands)		Fair Value				Percent			Fair Value			Percent
< 1 Year		$	2,334,120			42.8	%		$	1,892,074		35.9	%
1 to < 2 Years			310,087			5.7				371,583		7.1
2 to < 3 Years			447,721			8.1				538,775		10.2
3 to < 4 Years			404,998			7.4				402,668		7.6
4 to < 5 Years			384,051			7.0				376,722		7.2
5 or more Years			1,574,006			29.0				1,681,917		32.0
Total investments available for sale		$	5,454,983			100.0	%		$	5,263,739		100.0	%
Pre-tax investment income yield:
Three months ended			3.84	%
Six months ended June 30, 2024			3.76	%

Holding company net cash and investments available for sale:
($ in thousands)
As of June 30, 2024		$	808,389
As of December 31, 2023		$	693,507

																			Exhibit N
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Company Capital
			2024								2023
			June 30				March 31				December 31				September 30				June 30
($ in thousands)
U.S. Mortgage Insurance Subsidiaries:
Combined statutory capital (1)			$	3,530,462			$	3,453,553			$	3,376,117			$	3,309,522			$	3,243,086
Combined net risk in force (2)			$	34,812,227			$	34,463,082			$	34,549,500			$	34,203,678			$	34,019,643
Risk-to-capital ratios: (3)
	Essent Guaranty, Inc.		10.2:1				10.3:1				10.6:1				10.7:1				10.8:1
	Essent Guaranty of PA, Inc.		0.3:1				0.4:1				0.4:1				0.5:1				0.5:1
	Combined (4)		9.9:1				10.0:1				10.2:1				10.3:1				10.5:1
Essent Guaranty, Inc. PMIERs Data (5):
	Available Assets		$	3,513,609			$	3,464,119			$	3,379,936			$	3,318,179			$	3,245,481
	Minimum Required Assets			2,052,135				1,999,928				1,985,545				1,910,659				1,991,741
	PMIERs excess Available Assets		$	1,461,474			$	1,464,191			$	1,394,391			$	1,407,520			$	1,253,740
	PMIERs sufficiency ratio (6)			171	%			173	%			170	%			174	%			163	%
Essent Reinsurance Ltd.:
Stockholder's equity (GAAP basis)			$	1,793,777			$	1,793,005			$	1,758,665			$	1,684,122			$	1,633,763
Net risk in force (2)			$	22,770,165			$	22,271,316			$	22,043,926			$	21,739,419			$	21,327,762
(1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc., after eliminating the impact of intercompany transactions. Statutory capital is computed based on accounting practices prescribed or permitted by the Pennsylvania Insurance Department and the National Association of Insurance Commissioners Accounting Practices and Procedures Manual.
(2) Net risk in force represents total risk in force, net of reinsurance ceded and net of exposures on policies for which loss reserves have been established.
(3) The risk-to-capital ratio is calculated as the ratio of net risk in force to statutory capital.
(4) The combined risk-to-capital ratio equals the sum of the net risk in force of Essent Guaranty, Inc. and Essent Guaranty of PA, Inc. divided by the combined statutory capital.
(5) Data is based on our interpretation of the PMIERs as of the dates indicated.
(6) PMIERs sufficiency ratio is calculated by dividing Available Assets by Minimum Required Assets.

																					Exhibit O
Essent Group Ltd. and Subsidiaries
Supplemental Information
Ratios and Reconciliation of Non-GAAP Financial Measures
	2024								2023
	June 30				March 31				December 31				September 30				June 30
Loss Ratio (1)		(0.1	)%			4.0	%			7.9	%			4.4	%			0.6	%
Expense Ratio (2)		26.1	%			27.1	%			27.0	%			27.3	%			19.8	%
Combined Ratio		26.0	%			31.1	%			34.9	%			31.7	%			20.4	%
Underwriting Margin (3)		74.0	%			68.9	%			65.1	%			68.3	%			79.6	%
We believe that loss, expense and combined ratios are important measures of our financial performance. As a result of the July 1, 2023 acquisition of Agents National Title and Boston National Title (collectively "Title"), the consolidated loss, expense and combined ratios ("Consolidated Ratios") for the three and six months ended June 30, 2024 lack comparability with periods prior to the acquisition. In order to provide investors with more comparative information to prior periods, Essent has prepared the table below to reconcile the Consolidated Ratios to ratios excluding Title, as shown below. Ratios excluding Title are financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (GAAP) and are referred to as non-GAAP measures. Ratios excluding Title are measures used to monitor our results and should not be viewed as a substitute for those measures determined in accordance with GAAP.   The following table sets forth the reconciliation of the loss, expense and combined ratios excluding Title to the most comparable GAAP amount for the three and six months ended June 30, 2024 in accordance with Regulation G:
	Three Months Ended June 30, 2024												Six Months Ended June 30, 2024
	Consolidated				Title				Excluding Title				Consolidated				Title				Excluding Title
($ in thousands)
Revenues:
Net premiums earned	$	251,891			$	16,633			$	235,258			$	497,481			$	31,917			$	465,564
Net investment income		56,086				804				55,282				108,171				1,555				106,616
Realized investment losses, net		(1,164	)			—				(1,164	)			(2,304	)			—				(2,304	)
(Loss) income from other invested assets		(419	)			—				(419	)			(2,334	)			—				(2,334	)
Settlement services (4)		1,412				1,412				—				2,837				2,837				—
Other income		5,136				474				4,662				7,448				881				6,567
Total revenues		312,942				19,323				293,619				611,299				37,190				574,109
Losses and expenses:
Provision (benefit) for losses and LAE		(334	)			892				(1,226	)			9,579				1,467				8,112
Other underwriting and operating expenses (5)		55,987				12,909				43,078				113,336				24,719				88,617
Premiums retained by agents		10,215				10,215				—				19,706				19,706				—
Interest expense		7,849				—				7,849				15,711				—				15,711
Total losses and expenses		73,717				24,016				49,701				158,332				45,892				112,440
Loss ratio (1)		(0.1	%)			4.9	%			(0.5	%)			1.9	%			4.2	%			1.7	%
Expense ratio (2)		26.1	%			128.1	%			18.3	%			26.6	%			127.8	%			19.0	%
Combined ratio		26.0	%			133.0	%			17.8	%			28.5	%			132.0	%			20.7	%
Underwriting Margin (3)		74.0	%			(33.0	%)			82.2	%			71.5	%			(32.0	%)			79.3	%
(1) Loss ratio is calculated by dividing the provision for losses and LAE by the sum of net premiums earned and settlement services revenue, if applicable.
(2) Expense ratio is calculated by dividing the sum of other underwriting and operating expenses and premiums retained by agents by the sum of net premiums earned and settlement services revenue, if applicable.
(3) Calculated as the inverse of the combined ratio.
(4) Settlement services revenue is included in "Other income" within Exhibit A and Exhibit C.
(5) Title expenses reflect only direct expenses of Title operations and do not include corporate or centralized support expense allocations.

 

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Media Contact

610.230.0556

media@essentgroup.com

Investor Relations Contact

Philip Stefano

Vice President, Investor Relations

855-809-ESNT

ir@essentgroup.com

Source: Essent Group Ltd.

FAQ

What was Essent Group's net income for Q2 2024?

Essent Group (NYSE: ESNT) reported net income of $203.6 million or $1.91 per diluted share for the second quarter of 2024.

How much was Essent Group's quarterly cash dividend for Q2 2024?

Essent Group declared a quarterly cash dividend of $0.28 per common share, payable on September 10, 2024, to shareholders of record on August 30, 2024.

What was Essent Group's new insurance written for Q2 2024?

Essent Group reported new insurance written of $12.5 billion for the second quarter of 2024.

How much was Essent Group's insurance in force as of June 30, 2024?

Essent Group 's insurance in force as of June 30, 2024, was $240.7 billion.

What was Essent Group's net investment income for the first half of 2024?

Essent Group 's net investment income for the first half of 2024 was $108.2 million, up 22% from the first half of 2023.