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Essent Group Ltd. Announces First Quarter 2025 Results and Declares Quarterly Dividend

1. ESNT reported Q1 2025 net income of $175.4 million, down from last year. 2. Declared a dividend of $0.31 per share, payable June 10, 2025. 3. New insurance written in Q1 2025 was $9.9 billion, down from Q4 2024. 4. Investment income rose 12% year-over-year to $58.2 million in Q1 2025. 5. Share repurchases continue, with 3.9 million shares bought year-to-date.

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$58.7205/09 06:37 AM EDTEvent Start
$58.5305/12 06:45 AM EDTLatest Updated
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FAQ

Why Neutral?

While finances are stable, declining new insurance written could raise concern.

How important is it?

Positive income and dividends suggest stability, but declining new business may worry investors.

Why Short Term?

Quarterly performance likely affects immediate trading but long-term is uncertain.

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FNFMBIRDN
HAMILTON, Bermuda--(BUSINESS WIRE)--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended March 31, 2025 of $175.4 million or $1.69 per diluted share, compared to $181.7 million or $1.70 per diluted share for the quarter ended March 31, 2024. Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.31 per common share. The dividend is payable on June 10, 2025, to shareholders of record on May 30, 2025. “We are pleased with our first quarter 2025 financial results, as we continue to benefit from favorable credit performance, elevated portfolio persistency and higher investment income,” said Mark A. Casale, Chairman and Chief Executive Officer. “We remain confident in our ability to continue to generate high-quality earnings and grow book value per share.” Financial Highlights: New insurance written for the first quarter of 2025 was $9.9 billion, compared to $12.2 billion in the fourth quarter of 2024 and $8.3 billion in the first quarter of 2024. Insurance in force as of March 31, 2025 was $244.7 billion, compared to $243.6 billion as of December 31, 2024 and $238.5 billion as of March 31, 2024. Net investment income for the first quarter of 2025 was $58.2 million, up 12% from the first quarter of 2024. During the first quarter of 2025, Essent entered into two forward quota share transactions with highly rated third-party reinsurers. These quota share agreements cover 25% of the risk of all eligible policies written by Essent Guaranty, Inc. in calendar years 2025 and 2026. In April, Essent entered into two excess of loss transactions, effective July 1 of each year, with panels of highly rated third-party reinsurers covering 20% of all eligible policies written by Essent Guaranty, Inc. in calendar years 2025 and 2026. Year-to-date through April 30th, Essent has repurchased 3.9 million common shares for approximately $218 million. As of April 30th, $429 million dollars remains under the $500 million dollar repurchase plan authorized by the Board in February 2025. 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, 2024 filed with the Securities and Exchange Commission on February 19, 2025, 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. More News From Essent Group Ltd.

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