Essent Group LTD - ESNT STOCK NEWS

Essent Group Ltd. (NYSE: ESNT) has appointed Christopher G. Curran as the new President of Essent Guaranty, Inc., effective January 1, 2022. Curran, who has over 25 years of experience in mortgage insurance and banking, will oversee all operations, including business development and risk management, while reporting to Mark A. Casale, the current CEO. Casale emphasized Curran's significant contributions over the past decade and highlighted the company's focus on enhancing shareholder value.

Essent Group Ltd. (NYSE: ESNT) has partnered with OpenClose to integrate its mortgage insurance products into OpenClose's LenderAssist™ loan origination system. This collaboration aims to streamline the mortgage insurance process by providing real-time access to Essent's pricing engine, EssentEDGE®. The integration is expected to enhance operational efficiencies for lenders by automating the MI certification workflow and delivering EssentEDGE rates instantly.

Essent Group Ltd. (NYSE: ESNT) announced that its subsidiary, Essent Guaranty, Inc., secured $439.4 million in fully collateralized excess of loss reinsurance coverage for mortgage insurance policies underwritten between April and September 2021. This coverage is from Radnor Re 2021-2 Ltd., a Bermuda-based special purpose insurer. The funding was achieved through the issuance of four classes of mortgage insurance-linked notes totaling over $439 million, with varying interest rates linked to the SOFR. The securities remain unregistered under U.S. law.

Essent Group Ltd. (NYSE: ESNT) reported a net income of $205.4 million or $1.84 per diluted share for Q3 2021, up from $124.5 million or $1.11 a year ago. The Board declared a quarterly cash dividend of $0.19 per share, payable on December 10, 2021. Insurance in force reached $208.2 billion, new insurance written was $23.6 billion, and net premiums earned were $218.7 million. The percentage of loans in default decreased to 2.47%, indicating improved credit performance. The combined ratio improved to 15.9%.

Essent Group Ltd. (NYSE: ESNT) will hold a conference call on November 5, 2021, at 10:00 a.m. ET to discuss its third quarter 2021 results, which will be released before the market opens on the same day. The call can be accessed via the Essent website or by calling specific numbers for U.S. and international participants. A replay will be available shortly after the call. Essent is a provider of private mortgage insurance in the U.S., enhancing mortgage financing for homeowners.

Essent Group Ltd. (NYSE: ESNT) has launched an upgraded risk-based pricing engine, EssentEDGE, designed to refine mortgage insurance pricing for lenders. This next-generation platform combines proprietary risk metrics and advanced analytics with traditional credit factors, enhancing access to mortgage credit for qualified borrowers. CEO Mark A. Casale emphasized the platform's cloud-based machine learning capabilities, which processes larger datasets efficiently. The updated EssentEDGE is now available via the Online Rate Finder tool and other pricing engines.

Essent Group Ltd. (NYSE: ESNT) reported a remarkable net income of $159.8 million or $1.42 per diluted share for Q2 2021, significantly higher than $15.4 million or $0.15 in Q2 2020. The Board declared a $0.18 quarterly cash dividend, payable on September 10, 2021. Key figures include $203.6 billion in insurance in force, $25.0 billion in new insurance written, and a 23.3% combined ratio. The percentage of loans in default decreased to 2.96%. Management expressed confidence in the favorable operating environment and strong earnings performance.

Essent Group Ltd. (NYSE: ESNT) has appointed Adolfo Marzol as Special Advisor to the Chairman and CEO. Mark A. Casale, Chairman, expressed confidence in Marzol's experience in housing finance, emphasizing his significant role in the company's founding. Marzol, who has held senior positions at Essent, Fannie Mae, and Chase Manhattan Mortgage, aims to leverage his expertise to influence company strategy and growth. Essent provides private mortgage insurance in the U.S. and is committed to ESG initiatives.

Essent Group Ltd. (NYSE: ESNT) will hold a conference call on August 6, 2021, at 10:00 a.m. ET to discuss its Q2 2021 results, released prior to market opening. The call will be accessible via the company's website and through dial-in options for both U.S. and international callers. A replay will be available shortly after for two weeks. Essent Group provides private mortgage insurance in the U.S. and is licensed in all 50 states, highlighting its broad market reach.