Welcome to our dedicated page for Essent Group news (Ticker: ESNT), a resource for investors and traders seeking the latest updates and insights on Essent Group stock.
Essent Group Ltd (symbol: ESNT), founded in 2008 and headquartered in Hamilton, Bermuda, is a key player in the United States housing finance industry. Through its subsidiaries, Essent offers private mortgage insurance and reinsurance services for residential properties. These services include primary, pool, and master policy products that provide extensive credit protection to lenders and mortgage investors.
Essent's mortgage insurance products are designed to cover a portion of the unpaid principal balance of a mortgage and certain related expenses in the event of a default. This coverage helps mitigate mortgage credit risk and supports lenders in extending more mortgage financing to prospective homeowners.
The company also offers related services, including information technology maintenance and development, customer support, and contract underwriting services. These services primarily cater to the originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders.
Essent operates across all 50 states and the District of Columbia, providing mortgage guaranty coverage that enhances the liquidity and stability of the housing finance market. By delivering essential risk management products and title insurance and settlement services, Essent plays a vital role in promoting homeownership in the United States.
Recent achievements and ongoing projects underscore Essent's continued commitment to innovation and customer service. The company's robust financial condition, strategic partnerships, and comprehensive product offerings position it as a trusted partner for mortgage lenders, borrowers, and investors.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $178.1 million or $1.66 per diluted share for Q3 2022, down from $205.4 million or $1.84 per diluted share a year ago. The company announced a quarterly cash dividend of $0.23 per share, payable on December 12, 2022. New insurance written reached $17.1 billion, a decline from both the previous quarter and the same period last year. The combined ratio was 22.3%, compared to negative 16.2% in Q2 2022. A.M. Best affirmed an “A (Excellent)” financial strength rating for Essent Guaranty, Inc.
Essent Group Ltd. (NYSE: ESNT) will hold a conference call on November 4, 2022, at 10:00 a.m. ET to discuss its third-quarter results, which will be released before the market opens. The call will be accessible via internet and phone, and a replay will be available for up to two weeks. Essent, based in Bermuda, offers private mortgage insurance and risk mitigation through its subsidiary, Essent Guaranty, Inc., licensed in all 50 states. More detailed financial information will be available on Essent's website.
Essent Group Ltd. (NYSE: ESNT) has announced that its subsidiary, Essent Guaranty, Inc., secured $237.9 million in fully collateralized excess of loss reinsurance coverage for mortgage insurance policies written between October 2021 and July 2022. This coverage comes from Radnor Re 2022-1 Ltd., a special purpose insurer based in Bermuda. The reinsurance was funded through the issuance of four classes of mortgage insurance-linked notes, with 10-year maturities, targeting capital markets investors.
These securities are unregistered under the U.S. Securities Act of 1933.
Essent Group Ltd. (NYSE: ESNT) has appointed Anu (Henna) A. Karna to its Board of Directors. Mark Casale, Chairman and CEO, expressed confidence in Karna's extensive experience in innovation, data, and technology within the insurance sector. Karna boasts over 25 years in leadership roles at prominent companies including Google Cloud and AXA XL. Her expertise is expected to enhance Essent's data utilization and innovation strategies.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $231.8 million ($2.16 per diluted share) for Q2 2022, an increase from $159.8 million ($1.42 per diluted share) in Q2 2021. The company declared a quarterly cash dividend of $0.22 per share, payable on September 12, 2022, to shareholders of record on September 1, 2022. The second quarter saw new insurance written at $20.1 billion and insurance in force rising to $215.9 billion. The combined ratio was negative at (16.2%), indicating strong credit performance despite some near-term headwinds.
Essent Group Ltd. (NYSE: ESNT) announced a conference call scheduled for Friday, August 5, 2022, at 10:00 a.m. Eastern Time. The call will discuss the Company’s second quarter 2022 results, which will be released before the market opens that day. Investors can access the live broadcast via the Essent website or by phone. Replay options will also be available for both the webcast and call. Essent provides private mortgage insurance and related services in the U.S.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $274.2 million for Q1 2022, or $2.52 per diluted share, compared to $135.6 million or $1.21 per diluted share in Q1 2021. The company declared a quarterly cash dividend of $0.21 per common share, payable on June 10, 2022. As of March 31, 2022, insurance in force was $206.8 billion, while new insurance written was $12.8 billion. The provision for losses was a benefit of $106.9 million, reflecting improvements in loan defaults.
Essent Group Ltd. (NYSE: ESNT) will hold a conference call on May 6, 2022, at 10:00 a.m. Eastern Time to discuss its Q1 2022 results. The results will be announced prior to the market opening on the same day. The call can be accessed via the internet or by dialing specific numbers provided for U.S. and international callers. A replay of the conference call will be available for two weeks following the event. Essent specializes in private mortgage insurance for single-family loans in the U.S., providing capital to mitigate mortgage credit risk.
Essent Group Ltd. (NYSE: ESNT) reported a net income of $181.0 million or $1.64 per diluted share for Q4 2021, up from $123.6 million or $1.10 per share in Q4 2020. For the full year, net income reached $681.8 million or $6.11 per share, compared to $413.0 million or $3.88 per share in 2020. A quarterly cash dividend of $0.20 per share was declared, payable on March 21, 2022. The company reported insurance in force of $207.2 billion and a 2.16% loan default rate as of December 31, 2021.
Essent Group Ltd. (NYSE: ESNT) announced a conference call for February 11, 2022, at 10:00 a.m. ET to discuss its fourth quarter and full year 2021 results. The earnings report will be released before the market opens on the same day. Investors can access the live call via the company's website or by phone. A replay will be available on the website and through a dedicated dial-in number. Essent, headquartered in Radnor, Pennsylvania, offers private mortgage insurance and related services in the U.S., providing capital to mitigate mortgage credit risk.
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