Essent Group LTD - ESNT STOCK NEWS

Essent Group Ltd. (NYSE: ESNT) announced a conference call scheduled for May 5, 2023, at 10:00 a.m. ET to discuss its Q1 2023 results, which will be released before the market opens. Investors can access the call via a live broadcast on Essent's website or by dialing 888-330-2384 (U.S.) or 240-789-2701 (international) using the passcode 9824537. A replay will be available for one year on the website and for two weeks via the call-in numbers. Essent offers private mortgage insurance in the U.S., providing capital to reduce mortgage credit risk. The company is based in Bermuda and its subsidiary, Essent Guaranty, Inc., is licensed in all 50 states. For further information, visit www.essentgroup.com.

Essent Group Ltd. (NYSE: ESNT) has appointed David B. Weinstock as the new Chief Financial Officer, following his role as interim CFO since June 28, 2022. Weinstock, who also served as Vice President and Chief Accounting Officer since 2009, brings over 25 years of experience in finance and accounting. CEO Mark Casale expressed confidence in Weinstock's leadership to support the company’s growth in the mortgage insurance sector. Essent, headquartered in Bermuda, offers various mortgage-related services and is a licensed provider in all 50 states. The company emphasizes its commitment to responsible corporate citizenship.

Essent Group Ltd. (NYSE: ESNT) reported a net income of $147.4 million or $1.37 per diluted share for Q4 2022, down from $181.0 million or $1.64 per diluted share in Q4 2021. Full year net income reached $831.4 million or $7.72 per diluted share, up from $681.8 million or $6.11 per diluted share in 2021. The company declared a quarterly cash dividend of $0.25 per share, payable on March 20, 2023. New insurance written for Q4 was $13.0 billion, compared to $17.1 billion in Q3 2022. The combined ratio rose to 24.6% in Q4 2022 from 17.4% in Q4 2021.

Essent Group Ltd. (NYSE: ESNT) announced a strategic acquisition of Agents National Title Holding Company and Boston National Holdings LLC from Incenter LLC for $100 million. This acquisition aims to enhance Essent's offerings by incorporating title insurance and settlement services into its operations. Agents National Title, licensed in 44 states, and Boston National Title, with licenses in 40 states and the District of Columbia, will bring experienced professionals to Essent. The deal is subject to regulatory approvals.

Finance of America Companies Inc. (NYSE: FOA) announces the sale of its title insurance business, Incenter, to a subsidiary of Essent Group Ltd. (NYSE: ESNT). Interim CEO Graham A. Fleming emphasized that this move aligns with FOA's strategic focus on enhancing retirement solutions through home equity. The decision comes alongside plans to discontinue forward mortgage originations and a commitment to acquiring assets from AAG. Credit Suisse acted as the financial advisor for this transaction, which awaits regulatory approval. FOA is known for its innovative finance solutions targeted at consumers seeking flexible lending options.

Essent Group Ltd. (NYSE: ESNT) will hold a conference call on February 10, 2023, at 10:00 a.m. Eastern Time to discuss its fourth quarter 2022 results, which will be released prior to market open. Investors can access the call via a live Internet broadcast or by phone at 888-330-2384 in the U.S. and 240-789-2701 internationally, using passcode 9824537. A replay will be available for two weeks after the call. The company provides private mortgage insurance and related services in the U.S., and aims to mitigate mortgage credit risk for lenders. Further financial details will be available on Essent's website.