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

HAMILTON, Bermuda, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended September 30, 2025 of $164.2 million or $1.67 per diluted share, compared to $176.2 million or $1.65 per diluted share for the quarter ended September 30, 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 December 10, 2025 to shareholders of record on December 1, 2025. “We are pleased with our third quarter results, which again demonstrate the strength and resilience of our business model,” said Mark A. Casale, Chairman and Chief Executive Officer. “Our performance was driven by continued favorable credit trends and the benefits of the current interest rate environment on both portfolio persistency and investment income, allowing us to continue generating high-quality earnings for our shareholders.” Financial Highlights: New insurance written for the third quarter of 2025 was $12.2 billion, compared to $12.5 billion in the second quarter of 2025 and $12.5 billion in the third quarter of 2024.Insurance in force as of September 30, 2025 was $248.8 billion, compared to $246.8 billion as of June 30, 2025 and $243.0 billion as of September 30, 2024.Net investment income for the nine months ended September 30, 2025 was $177.3 million, up 7% from the comparable period in 2024. On August 6, 2025, Moody's Ratings upgraded the insurance financial strength rating of Essent Guaranty, Inc. to A2 from A3 and the senior unsecured debt rating of Essent Group Ltd. to Baa2 from Baa3. At the same time, the rating outlook for these entities was revised to stable.Year-to-date through October 31st, Essent has repurchased 8.7 million common shares for $501 million.In November 2025, our Board approved a $500 million share repurchase authorization that runs through year-end 2027. 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. Media Contact 610.230.0556media@essentgroup.com Investor Relations ContactPhilip StefanoVice President, Investor Relations855-809-ESNTir@essentgroup.com Essent Group Ltd. and SubsidiariesFinancial Results and Supplemental Information (Unaudited)Quarter Ended September 30, 2025 Exhibit A Condensed Consolidated Statements of Comprehensive Income (Unaudited)Exhibit B Condensed Consolidated Balance Sheets (Unaudited)Exhibit C Consolidated Historical Quarterly DataExhibit D U.S. Mortgage Insurance Portfolio Historical Quarterly DataExhibit E New Insurance Written - U.S. Mortgage Insurance PortfolioExhibit F Insurance in Force and Risk in Force - U.S. Mortgage Insurance PortfolioExhibit G Other Mortgage Risk in ForceExhibit H U.S. Mortgage Insurance Portfolio Vintage DataExhibit I U.S. Mortgage Insurance Portfolio Reinsurance Vintage DataExhibit J U.S. Mortgage Insurance Portfolio Geographic DataExhibit K Rollforward of Defaults and Reserve for Losses and LAE - U.S. Mortgage Insurance PortfolioExhibit L Detail of Reserves by Default Delinquency - U.S. Mortgage Insurance PortfolioExhibit M Investments Available for SaleExhibit N U.S. Mortgage Insurance Company CapitalExhibit O Historical Quarterly Segment Information Exhibit A Essent Group Ltd. and SubsidiariesCondensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended September 30, Nine Months Ended September 30,(In thousands, except per share amounts) 2025 2024 2025 2024 Revenues: Direct premiums written$280,796 $277,754 $828,062 $819,595 Ceded premiums (38,968) (34,789) (106,475) (92,524)Net premiums written 241,828 242,965 721,587 727,071 Decrease in unearned premiums 4,504 5,971 19,402 19,346 Net premiums earned 246,332 248,936 740,989 746,417 Net investment income 59,795 57,340 177,294 165,511 Realized investment gains (losses), net (425) 68 (735) (2,236)Income from other invested assets 1,770 2,820 13,644 486 Other income 4,358 7,414 17,339 17,699 Total revenues 311,830 316,578 948,531 927,877 Losses and expenses: Provision for losses and LAE 44,922 30,666 93,264 40,245 Other underwriting and operating expenses 59,498 66,881 193,387 199,923 Interest expense 8,251 11,457 24,547 27,168 Total losses and expenses 112,671 109,004 311,198 267,336 Income before income taxes 199,159 207,574 637,333 660,541 Income tax expense 34,944 31,399 102,346 99,038 Net income$164,215 $176,175 $534,987 $561,503 Earnings per share: Basic$1.69 $1.67 $5.35 $5.32 Diluted 1.67 1.65 5.29 5.26 Weighted average shares outstanding: Basic 97,400 105,266 100,086 105,539 Diluted 98,519 106,554 101,155 106,700 Net income$164,215 $176,175 $534,987 $561,503 Other comprehensive income: Change in unrealized appreciation of investments 50,241 117,358 138,559 90,217 Total other comprehensive income 50,241 117,358 138,559 90,217 Comprehensive income$214,456 $293,533 $673,546 $651,720 Exhibit B Essent Group Ltd. and SubsidiariesCondensed Consolidated Balance Sheets (Unaudited) September 30, December 31,(In thousands, except per share amounts) 2025 2024 Assets Investments Fixed maturities available for sale, at fair value$5,449,789 $5,112,697 Short-term investments available for sale, at fair value 640,076 764,024 Total investments available for sale 6,089,865 5,876,721 Other invested assets 370,072 303,900 Total investments 6,459,937 6,180,621 Cash 91,411 131,480 Accrued investment income 43,004 43,732 Accounts receivable 53,674 55,564 Deferred policy acquisition costs 9,191 9,653 Property and equipment 49,956 41,871 Prepaid federal income tax 490,456 489,600 Goodwill and acquired intangible assets, net 78,504 79,556 Other assets 75,866 79,572 Total assets$7,351,999 $7,111,649 Liabilities and Stockholders' Equity Liabilities Reserve for losses and LAE$397,138 $328,866 Unearned premium reserve 96,581 115,983 Net deferred tax liability 438,187 392,428 Senior notes due 2029, net 494,965 493,959 Other accrued liabilities 186,154 176,755 Total liabilities 1,613,025 1,507,991 Commitments and contingencies Stockholders' Equity Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 97,497 shares in 2025 and 105,015 shares in 2024 1,462 1,575 Additional paid-in capital 770,561 1,214,956 Accumulated other comprehensive loss (165,425) (303,984)Retained earnings 5,132,376 4,691,111 Total stockholders' equity 5,738,974 5,603,658 Total liabilities and stockholders' equity$7,351,999 $7,111,649 Return on average equity (1) 12.6% 13.6% (1) The 2025 return on average equity is calculated by dividing annualized year-to-date 2025 net income by average equity. The 2024 return on average equity is calculated by dividing full year 2024 net income by average equity. Exhibit CEssent Group Ltd. and SubsidiariesSupplemental InformationConsolidated Historical Quarterly Data 2025 2024Selected Income Statement DataSeptember 30 June 30 March 31 December 31 September 30(In thousands, except per share amounts) Revenues: Net premiums earned: U.S. mortgage insurance portfolio$215,683 $220,261 $218,125 $211,683 $214,119 GSE and other mortgage risk share 15,945 13,646 15,505 16,180 17,130 Title insurance and other 14,704 14,902 12,218 16,602 17,687 Net premiums earned 246,332 248,809 245,848 244,465 248,936 Net investment income 59,795 59,289 58,210 56,559 57,340 Realized investment gains (losses), net (425) (129) (181) (114) 68 Income from other invested assets 1,770 4,466 7,408 6,889 2,820 Other income (1) 4,358 6,708 6,273 7,228 7,414 Total revenues 311,830 319,143 317,558 315,027 316,578 Losses and expenses: Provision for losses and LAE 44,922 17,055 31,287 40,975 30,666 Other underwriting and operating expenses 59,498 62,765 71,124 70,951 66,881 Interest expense 8,251 8,148 8,148 8,151 11,457 Total losses and expenses 112,671 87,968 110,559 120,077 109,004 Income before income taxes 199,159 231,175 206,999 194,950 207,574 Income tax expense (2) 34,944 35,836 31,566 27,050 31,399 Net income$164,215 $195,339 $175,433 $167,900 $176,175 Earnings per share: Basic$1.69 $1.95 $1.71 $1.60 $1.67 Diluted 1.67 1.93 1.69 1.58 1.65 Weighted average shares outstanding: Basic 97,400 100,037 102,881 104,963 105,266 Diluted 98,519 101,059 103,946 106,104 106,554 Book value per share$58.86 $56.98 $55.22 $53.36 $53.11 Return on average equity (annualized) 11.5% 13.8% 12.5% 11.9% 12.8% Borrowings Borrowings outstanding$500,000 $500,000 $500,000 $500,000 $500,000 Undrawn committed capacity$500,000 $500,000 $500,000 $500,000 $500,000 Weighted average interest rate (end of period) 6.25% 6.25% 6.25% 6.25% 6.25%Debt-to-capital 8.01% 8.10% 8.12% 8.19% 8.14% (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 September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, were ($858), ($29), ($150), $204, and ($1,173), respectively.(2) Income tax expense for the quarters ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024 includes $493, $1,112, $1,561, $1,591, and $475, respectively, of discrete tax expense associated with realized and unrealized gains. Income tax expense for the quarter ended September 30, 2025 also includes ($828) of discrete tax benefits associated with prior year tax returns. Income tax expense for the quarter ended March 31, 2025 also includes ($742) of excess tax benefits associated with the vesting of common shares and common share units. Exhibit DEssent Group Ltd. and SubsidiariesSupplemental InformationU.S. Mortgage Insurance Portfolio Historical Quarterly Data 2025 2024 Other Data:September 30 June 30 March 31 December 31 September 30($ in thousands) U.S. mortgage insurance portfolio New insurance written$12,233,252 $12,544,731 $9,945,336 $12,220,968 $12,513,695 New risk written$3,239,497 $3,357,820 $2,698,639 $3,297,296 $3,437,465 Average insurance in force$247,821,046 $245,747,813 $244,005,459 $243,236,830 $242,065,632 Insurance in force (end of period)$248,808,341 $246,797,619 $244,692,492 $243,645,423 $242,976,043 Gross risk in force (end of period) (1)$68,262,577 $67,683,239 $67,026,626 $66,613,517 $66,237,992 Risk in force (end of period)$56,940,929 $56,811,096 $56,565,811 $56,477,150 $55,915,640 Policies in force 812,856 812,182 811,342 813,013 815,507 Weighted average coverage (2) 27.4% 27.4% 27.4% 27.3% 27.3%Annual persistency 86.0% 85.8% 85.7% 85.7% 86.6% Loans in default (count) 18,583 17,255 17,759 18,439 15,906 Percentage of loans in default 2.29% 2.12% 2.19% 2.27% 1.95% U.S. mortgage insurance portfolio premium rate: Base average premium rate (3) 0.41% 0.41% 0.41% 0.41% 0.41%Single premium cancellations (4) —% —% —% —% —%Gross average premium rate 0.41% 0.41% 0.41% 0.41% 0.41%Ceded premiums (0.06%) (0.05%) (0.05%) (0.06%) (0.06%)Net average premium rate 0.35% 0.36% 0.36% 0.35% 0.35% (1) Gross risk in force includes risk ceded under third-party reinsurance.(2) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force.(3) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period.(4) Single premium cancellations is calculated by dividing annualized premiums on the cancellation of non-refundable single premium policies by average insurance in force for the period. Exhibit E Essent Group Ltd. and SubsidiariesSupplemental Information - U.S. Mortgage Insurance PortfolioNew Insurance Written NIW by Credit Score Three Months Ended Nine Months Ended September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024($ in thousands) >=760$6,356,576 52.0% $5,339,574 42.7% $17,372,805 50.0% $14,387,356 43.2%740-759 1,889,181 15.4 2,141,817 17.1 5,623,462 16.2 5,717,289 17.1 720-739 1,485,477 12.2 1,764,319 14.1 4,384,395 12.6 4,828,718 14.5 700-719 1,257,054 10.3 1,622,450 13.0 3,742,854 10.8 4,348,047 13.0 680-699 691,114 5.6 918,116 7.3 1,997,765 5.8 2,351,589 7.1 <=679 553,850 4.5 727,419 5.8 1,602,038 4.6 1,707,365 5.1 Total$12,233,252 100.0% $12,513,695 100.0% $34,723,319 100.0% $33,340,364 100.0% Weighted average credit score 754 747 753 747 NIW by LTV Three Months Ended Nine Months Ended September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024($ in thousands) 85.00% and below$1,129,090 9.2% $836,186 6.7% $2,992,346 8.6% $2,250,434 6.7%85.01% to 90.00% 3,099,275 25.3 2,415,504 19.3 8,335,451 24.0 6,571,300 19.7 90.01% to 95.00% 6,200,624 50.8 6,616,174 52.9 17,870,142 51.5 18,008,682 54.0 95.01% and above 1,804,263 14.7 2,645,831 21.1 5,525,380 15.9 6,509,948 19.6 Total$12,233,252 100.0% $12,513,695 100.0% $34,723,319 100.0% $33,340,364 100.0% Weighted average LTV 93% 93% 93% 93% NIW by Product Three Months Ended Nine Months Ended September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024Single premium policies 1.3% 1.4% 1.3% 1.5%Monthly premium policies 98.7 98.6 98.7 98.5 100.0% 100.0% 100.0% 100.0% NIW by Purchase vs. Refinance Three Months Ended Nine Months Ended September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024Purchase 90.5% 97.0% 92.4% 97.4%Refinance 9.5 3.0 7.6 2.6 100.0% 100.0% 100.0% 100.0% Exhibit F Essent Group Ltd. and SubsidiariesSupplemental InformationInsurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio Portfolio by Credit ScoreIIF by FICO scoreSeptember 30, 2025 June 30, 2025 September 30, 2024($ in thousands) >=760$103,261,791 41.5% $101,554,517 41.1% $98,553,455 40.6%740-759 43,372,715 17.4 43,146,312 17.5 42,377,559 17.4 720-739 38,113,923 15.3 38,115,925 15.4 37,947,254 15.6 700-719 32,834,985 13.2 32,789,773 13.3 32,685,044 13.5 680-699 19,625,586 7.9 19,666,338 8.0 19,890,335 8.2 <=679 11,599,341 4.7 11,524,754 4.7 11,522,396 4.7 Total$248,808,341 100.0% $246,797,619 100.0% $242,976,043 100.0% Weighted average credit score 746 746 746 Gross RIF by FICO scoreSeptember 30, 2025 June 30, 2025 September 30, 2024($ in thousands) >=760$28,056,444 41.0% $27,578,860 40.8% $26,614,399 40.2%740-759 12,054,702 17.7 11,989,491 17.7 11,715,485 17.7 720-739 10,587,116 15.5 10,584,541 15.6 10,485,311 15.8 700-719 9,155,794 13.4 9,136,075 13.5 9,044,551 13.7 680-699 5,429,039 8.0 5,434,287 8.0 5,451,406 8.2 <=679 2,979,482 4.4 2,959,985 4.4 2,926,840 4.4 Total$68,262,577 100.0% $67,683,239 100.0% $66,237,992 100.0% Portfolio by LTVIIF by LTVSeptember 30, 2025 June 30, 2025 September 30, 2024($ in thousands) 85.00% and below$14,398,904 5.8% $14,309,342 5.8% $15,555,555 6.4%85.01% to 90.00% 58,982,107 23.7 59,432,276 24.1 61,262,960 25.2 90.01% to 95.00% 131,889,655 53.0 130,210,803 52.7 125,919,529 51.8 95.01% and above 43,537,675 17.5 42,845,198 17.4 40,237,999 16.6 Total$248,808,341 100.0% $246,797,619 100.0% $242,976,043 100.0% Weighted average LTV 93% 93% 93% Gross RIF by LTVSeptember 30, 2025 June 30, 2025 September 30, 2024($ in thousands) 85.00% and below$1,696,592 2.5% $1,689,437 2.5% $1,845,584 2.8%85.01% to 90.00% 14,526,528 21.3 14,653,527 21.7 15,120,025 22.8 90.01% to 95.00% 38,895,352 57.0 38,402,295 56.7 37,149,222 56.1 95.01% and above 13,144,105 19.2 12,937,980 19.1 12,123,161 18.3 Total$68,262,577 100.0% $67,683,239 100.0% $66,237,992 100.0% Portfolio by Loan Amortization PeriodIIF by Loan Amortization PeriodSeptember 30, 2025 June 30, 2025 September 30, 2024($ in thousands) FRM 30 years and higher$242,770,621 97.6% $241,225,436 97.8% $237,628,900 97.8%FRM 20-25 years 1,070,635 0.4 1,024,884 0.4 1,199,947 0.5 FRM 15 years 1,664,866 0.7 1,465,011 0.6 1,191,749 0.5 ARM 5 years and higher 3,302,219 1.3 3,082,288 1.2 2,955,447 1.2 Total$248,808,341 100.0% $246,797,619 100.0% $242,976,043 100.0% Exhibit G Essent Group Ltd. and SubsidiariesSupplemental InformationOther Mortgage Risk in Force 2025 2024 ($ in thousands)September 30 June 30 March 31 December 31 September 30GSE and other mortgage risk share (1): Risk in Force$2,184,981 $2,290,008 $2,189,477 $2,209,284 $2,228,376 Reserve for losses and LAE$94 $88 $52 $51 $37 Weighted average credit score 751 751 751 751 750 Weighted average LTV 83% 83% 82% 82% 82% (1) GSE and other mortgage risk share includes GSE risk share and other mortgage reinsurance transactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae. Exhibit H Essent Group Ltd. and SubsidiariesSupplemental InformationU.S. Mortgage Insurance Portfolio Vintage DataSeptember 30, 2025 Insurance in Force YearOriginalInsuranceWritten($ in thousands)RemainingInsurancein Force($ in thousands)% Remaining of OriginalInsuranceNumber of Policies in ForceWeighted Average Coupon% Purchase>90% LTV>95% LTVFICO < 700FICO >= 760Incurred Loss Ratio (Inception to Date) (1)Number of Loans in DefaultPercentage of Loans in Default 2010 - 2015$86,862,507$1,547,0431.8%8,5414.28%68.5%50.5%1.7%11.6%47.4%2.3%3424.00%2016 34,949,319 1,224,2773.5 7,0324.04 78.7 62.5 16.5 16.8 41.3 2.0 3394.82 2017 43,858,322 2,941,9736.7 18,6384.32 90.4 82.4 26.3 21.3 36.1 2.9 8614.62 2018 47,508,525 3,956,2828.3 23,3874.83 95.1 78.9 29.3 22.6 31.2 3.8 1,0954.68 2019 63,569,183 8,869,14614.0 44,8584.25 90.1 75.0 27.0 19.4 34.2 3.5 1,5643.49 2020 107,944,065 29,520,35227.3 121,5963.22 76.0 68.4 16.1 10.9 44.9 2.7 2,4171.99 2021 84,218,250 42,983,76651.0 148,3893.11 91.8 71.2 18.2 13.7 40.1 6.4 3,5992.43 2022 63,061,262 46,918,95574.4 138,0535.09 98.4 67.3 11.9 12.5 39.5 19.3 3,6702.66 2023 47,666,852 37,383,51778.4 107,9246.61 98.8 73.4 19.3 11.1 38.2 21.4 2,8342.63 2024 45,561,332 40,106,43088.0 108,5546.70 94.9 73.2 20.3 12.3 42.3 20.3 1,6691.54 2025 (through September 30) 34,723,319 33,356,60096.1 85,8846.70 92.3 67.5 16.4 10.6 49.2 8.4 1930.22 Total$659,922,936$248,808,34137.7 812,8565.17 92.6 70.5 17.5 12.6 41.5 5.7 18,5832.29 (1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned. Essent Group Ltd. and SubsidiariesExhibit I Supplemental Information U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data September 30, 2025 ($ in thousands)Insurance Linked Notes (1) Earned Premiums Ceded Deal NameVintageRemainingInsurancein ForceRemainingRiskin Force OriginalReinsurance in Force RemainingReinsurance in Force LossesCededto Date OriginalFirst LayerRetentionRemainingFirst LayerRetention Quarter-to-DateYear-to-Date Reduction in PMIERs Minimum Required Assets (3)Radnor Re 2021-1Aug. 2020 - Mar. 2021$19,739,682$5,468,250 $557,911 $114,739 $— $278,956$276,517 $1,216$3,997 $79,765Radnor Re 2021-2Apr. 2021 - Sep. 2021 25,483,612 7,221,803 439,407 209,214 — 279,415 273,314 2,874 8,930 181,589Radnor Re 2022-1Oct. 2021 - Jul. 2022 25,108,189 6,942,042 237,868 140,407 — 303,761 295,115 2,977 9,508 129,175Radnor Re 2023-1Aug. 2022 - Jun. 2023 25,659,356 7,054,365 281,462 227,315 — 281,463 274,987 3,068 9,269 215,495Radnor Re 2024-1Jul. 2023 - Jul. 2024 26,433,237 7,318,400 363,366 282,240 — 256,495 255,938 2,960 8,843 208,858Total $122,424,076$34,004,860 $1,880,014 $973,915 $— $1,400,090$1,375,871 $13,095$40,547 $814,882 Excess of Loss Reinsurance (2) Earned Premiums Ceded Deal NameVintageRemainingInsurancein ForceRemainingRiskin Force OriginalReinsurance in Force RemainingReinsurance in Force LossesCededto Date OriginalFirst LayerRetentionRemainingFirst LayerRetention Quarter-to-DateYear-to-Date Reduction in PMIERs Minimum Required Assets (3)XOL 2019-1Jan. 2018 - Dec. 2018$3,917,343$1,034,525 $118,650 $76,144 $— $253,643$241,999 $627$1,861 $—XOL 2020-1Jan. 2019 - Aug. 2019 5,062,931 1,340,666 55,102 29,152 — 215,605 210,860 252 747 —XOL 2022-1Oct. 2021 - Dec. 2022 57,047,820 15,687,589 141,992 141,992 — 507,114 480,893 1,611 4,779 137,144XOL 2023-1Jan. 2023 - Dec. 2023 33,592,906 9,329,166 36,627 36,627 — 366,270 361,520 439 1,301 35,221XOL 2024-1Jan. 2024 - Dec. 2024 37,239,040 10,243,450 58,005 58,005 — 331,456 330,808 657 1,953 55,989XOL 2025-1Jan. 2025 - Dec. 2025 33,292,085 8,918,226 62,428 62,428 — 265,700 265,700 566 566 60,035Total $170,152,125$46,553,622 $472,804 $404,348 $— $1,939,788$1,891,780 $4,152$11,207 $288,389 Quota Share Reinsurance (2) Losses Ceded Ceding Commission Earned Premiums Ceded YearCeding PercentageRemaining Insurance in ForceRemaining Risk in Force Remaining Ceded Insurance in Force Remaining Ceded Risk in Force Quarter-to-DateYear-to-Date Quarter-to-DateYear-to-Date Quarter-to-DateYear-to-Date Reduction in PMIERs Minimum Required Assets (3)Sep. 2019 - Dec. 2020(4)$33,267,853$9,170,377 $6,888,445 $1,872,081 $187$(428) $2,013$6,406 $3,090$8,812 $115,851Jan. 2022 - Dec. 202220% 46,871,227 12,846,313 9,374,245 2,569,263 2,941 5,460 1,675 5,168 5,872 15,029 189,789Jan. 2023 - Dec. 202317.5% 33,484,914 9,302,064 5,859,860 1,627,861 2,350 4,992 1,205 3,706 4,879 12,774 127,884Jan. 2024 - Dec. 202415% 39,879,085 10,951,466 5,981,863 1,642,720 2,310 5,159 1,241 3,792 4,978 13,311 128,046Jan. 2025 - Dec. 202525% 33,319,488 8,925,838 8,329,872 2,231,460 690 962 1,195 2,072 2,902 4,795 146,367Total $186,822,567$51,196,058 $36,434,285 $9,943,385 $8,478$16,145 $7,329$21,144 $21,721$54,721 $707,937 (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. Exhibit J Essent Group Ltd. and SubsidiariesSupplemental InformationU.S. Mortgage Insurance Portfolio Geographic Data IIF by State September 30, 2025 June 30, 2025 September 30, 2024CA12.2% 12.3% 12.5%FL12.0 12.0 11.8 TX11.3 11.3 10.9 CO4.0 4.0 4.1 AZ4.0 3.9 3.8 GA3.8 3.8 3.7 WA3.4 3.4 3.4 NC3.1 3.1 3.0 MI2.6 2.6 2.5 NY2.6 2.6 2.6 All Others41.0 41.0 41.7 Total100.0% 100.0% 100.0% Gross RIF by State September 30, 2025 June 30, 2025 September 30, 2024CA12.2% 12.3% 12.5%FL12.2 12.2 12.0 TX11.6 11.5 11.2 AZ4.0 4.0 3.9 CO3.9 4.0 4.0 GA3.9 3.9 3.8 WA3.4 3.4 3.4 NC3.1 3.1 3.0 MI2.6 2.6 2.5 UT2.6 2.6 2.4 All Others40.5 40.4 41.3 Total100.0% 100.0% 100.0% Exhibit KEssent Group Ltd. and SubsidiariesSupplemental InformationRollforward of Defaults and Reserve for Losses and LAEU.S. Mortgage Insurance Portfolio Rollforward of Insured Loans in Default Three Months Ended 2025 2024 September 30 June 30 March 31 December 31 September 30Beginning default inventory 17,255 17,759 18,439 15,906 13,954 Plus: new defaults (A) 10,357 8,810 9,664 11,136 9,984 Less: cures (8,713) (9,078) (10,173) (8,408) (7,819)Less: claims paid (296) (215) (153) (183) (182)Less: rescissions and denials, net (20) (21) (18) (12) (31)Ending default inventory 18,583 17,255 17,759 18,439 15,906 (A) New defaults remaining as of September 30, 2025 7,693 3,556 2,221 1,696 1,164 Cure rate (1) 26% 60% 77% 85% 88% Total amount paid for claims (in thousands)$16,456 $9,007 $6,330 $7,740 $5,749 Average amount paid per claim (in thousands)$56 $42 $41 $42 $32 Severity 78% 67% 70% 68% 58% Rollforward of Reserve for Losses and LAE Three Months Ended 2025 2024 ($ in thousands)September 30 June 30 March 31 December 31 September 30Reserve for losses and LAE at beginning of period$345,952 $338,128 $310,156 $274,926 $246,107 Less: Reinsurance recoverables 41,966 40,351 36,655 30,867 26,022 Net reserve for losses and LAE at beginning of period 303,986 297,777 273,501 244,059 220,085 Add provision for losses and LAE occurring in: Current period 62,349 45,119 48,928 50,212 51,649 Prior years (18,179) (29,796) (18,208) (12,976) (21,836)Incurred losses and LAE during the period 44,170 15,323 30,720 37,236 29,813 Deduct payments for losses and LAE occurring in: Current period 552 315 51 1,569 637 Prior years 16,013 8,799 6,393 6,225 5,202 Loss and LAE payments during the period 16,565 9,114 6,444 7,794 5,839 Net reserve for losses and LAE at end of period 331,591 303,986 297,777 273,501 244,059 Plus: Reinsurance recoverables 47,957 41,966 40,351 36,655 30,867 Reserve for losses and LAE at end of period$379,548 $345,952 $338,128 $310,156 $274,926 (1) The cure rate is calculated by dividing new defaults remaining as of the reporting date by the original number of new defaults reported in the quarterly period and subtracting that percentage from 100%. Exhibit LEssent Group Ltd. and SubsidiariesSupplemental InformationDetail of Reserves by Default DelinquencyU.S. Mortgage Insurance Portfolio September 30, 2025 Number ofPolicies inDefaultPercentage ofPolicies inDefaultAmount ofReservesPercentage of ReservesDefaulted RIFReserves as a Percentage ofDefaulted RIF($ in thousands) Missed Payments: Two payments6,444 35%$36,67210%$503,8427%Three payments2,658 14 27,7898 215,32113 Four to eleven payments6,683 36 143,17341 559,66326 Twelve or more payments2,551 14 125,47536 206,73561 Pending claims247 1 17,3655 19,53789 Total case reserves18,583 100% 350,474100%$1,505,09823%IBNR 26,287 LAE 2,787 Total reserves for losses and LAE $379,548 Average reserve per default: Case $18.9 Total $20.4 Default Rate2.29% 3+ Month Default Rate1.49% December 31, 2024 Number ofPolicies inDefaultPercentage ofPolicies inDefaultAmount ofReservesPercentage of ReservesDefaulted RIFReserves as a Percentage ofDefaulted RIF($ in thousands) Missed Payments: Two payments6,691 36%$32,67211%$522,6446%Three payments3,154 17 26,2789 250,69610 Four to eleven payments6,408 35 122,55143 515,60024 Twelve or more payments2,022 11 93,26933 153,37661 Pending claims164 1 11,1744 12,47890 Total case reserves18,439 100% 285,944100%$1,454,79420%IBNR 21,446 LAE 2,766 Total reserves for losses and LAE $310,156 Average reserve per default: Case $15.5 Total $16.8 Default Rate2.27% 3+ Month Default Rate1.44% September 30, 2024 Number ofPolicies inDefaultPercentage ofPolicies inDefaultAmount ofReservesPercentage of ReservesDefaulted RIFReserves as a Percentage ofDefaulted RIF($ in thousands) Missed Payments: Two payments5,704 36%$29,18711%$425,3677%Three payments2,589 16 24,66210 202,13812 Four to eleven payments5,498 35 104,22341 437,51524 Twelve or more payments1,980 12 86,82135 144,39660 Pending claims135 1 8,6203 9,69289 Total case reserves15,906 100% 253,513100%$1,219,10821%IBNR 19,013 LAE 2,400 Total reserves for losses and LAE $274,926 Average reserve per default: Case $15.9 Total $17.3 Default Rate1.95% 3+ Month Default Rate1.25% Exhibit M Essent Group Ltd. and SubsidiariesSupplemental InformationInvestments Available for Sale Investments Available for Sale by Asset ClassAsset ClassSeptember 30, 2025 December 31, 2024($ in thousands)Fair Value Percent Fair Value PercentU.S. Treasury securities$382,791 6.3% $547,290 9.3%U.S. agency mortgage-backed securities 1,178,691 19.4 1,125,436 19.2 Municipal debt securities 613,089 10.0 583,501 9.9 Non-U.S. government securities 63,142 1.0 69,798 1.2 Corporate debt securities 1,930,920 31.7 1,783,046 30.3 Residential and commercial mortgage securities 463,344 7.6 478,086 8.1 Asset-backed securities 817,812 13.5 631,959 10.8 Money market funds 640,076 10.5 657,605 11.2 Total investments available for sale$6,089,865 100.0% $5,876,721 100.0% Investments Available for Sale by Credit RatingRating(1)September 30, 2025 December 31, 2024($ in thousands)Fair Value Percent Fair Value PercentAaa$841,702 15.4% $2,513,014 48.1%Aa1 1,817,913 33.4 101,809 2.0 Aa2 296,607 5.4 301,080 5.8 Aa3 307,657 5.6 271,069 5.2 A1 569,589 10.5 511,076 9.8 A2 458,648 8.4 411,999 7.9 A3 503,779 9.2 463,616 8.8 Baa1 222,589 4.1 218,454 4.2 Baa2 212,197 3.9 198,193 3.8 Baa3 147,026 2.7 151,729 2.9 Below Baa3 72,082 1.4 77,077 1.5 Total(2)$5,449,789 100.0% $5,219,116 100.0% (1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available. (2) Excludes $640,076 and $657,605 of money market funds at September 30, 2025 and December 31, 2024, respectively. Investments Available for Sale by Duration and Book YieldEffective DurationSeptember 30, 2025 December 31, 2024($ in thousands)Fair Value Percent Fair Value Percent< 1 Year$1,511,803 24.8% $1,587,022 26.9%1 to < 2 Years 567,580 9.3 544,630 9.3 2 to < 3 Years 515,475 8.5 473,301 8.1 3 to < 4 Years 628,295 10.3 445,614 7.6 4 to < 5 Years 528,981 8.7 546,414 9.3 5 or more Years 2,337,731 38.4 2,279,740 38.8 Total investments available for sale$6,089,865 100.0% $5,876,721 100.0% Pre-tax investment income yield: Three months ended 3.89% Nine months ended September 30, 2025 3.83% Cash and investments available for sale at the holding companies: ($ in thousands) As of September 30, 2025$1,038,747 As of December 31, 2024$1,052,900 Exhibit N Essent Group Ltd. and SubsidiariesSupplemental InformationU.S. Mortgage Insurance Company Capital 2025 2024 September 30 June 30 March 31 December 31 September 30($ in thousands) U.S. Mortgage Insurance Subsidiaries (7): Combined statutory capital (1)$3,732,465 $3,714,146 $3,642,374 $3,594,381 $3,584,580 Combined net risk in force (2)$33,367,706 $33,986,508 $34,968,089 $35,159,976 $34,893,957 Risk-to-capital ratios (3): Essent Guaranty, Inc.8.9:1 9.2:1 9.6:1 9.8:1 10.0:1Essent Guaranty of PA, Inc.N/A N/A N/A N/A 0.3:1Combined (4)N/A N/A N/A N/A 9.7:1 Essent Guaranty, Inc. PMIERs Data (5): Available Assets$3,666,883 $3,654,460 $3,628,675 $3,612,993 $3,598,725 Minimum Required Assets 2,065,890 2,075,409 2,107,620 2,029,738 1,903,473 PMIERs excess Available Assets$1,600,993 $1,579,051 $1,521,055 $1,583,255 $1,695,252 PMIERs sufficiency ratio (6) 177% 176% 172% 178% 189% Essent Reinsurance Ltd.: Stockholder's equity (GAAP basis)$1,722,135 $1,751,720 $1,780,924 $1,773,044 $1,826,901 Net risk in force (2)$25,453,510 $24,802,145 $23,482,726 $23,250,018 $23,003,846 (1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc. when applicable, 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) When applicable, 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.(7) Essent Guaranty of PA, Inc. provided reinsurance to Essent Guaranty, Inc. on certain policies originated prior to April 1, 2019. Effective December 31, 2024, Essent Guaranty of PA commuted its outstanding risk in force back to Essent Guaranty and surrendered its insurance license. Combined statutory capital and combined net risk in force as of and subsequent to December 31, 2024 are for Essent Guaranty only. Exhibit OEssent Group Ltd. and SubsidiariesSupplemental InformationHistorical Quarterly Segment Information(Unaudited) The following tables set forth quarterly financial information for our reportable business segment, Mortgage Insurance, our Corporate & Other category and our consolidated results for the five quarters ending September 30, 2025 (unaudited). Our Corporate & Other category is used to reconcile our reportable business segment to consolidated results and includes business activities associated with our title insurance operations, income and losses from holding company treasury operations, and general corporate operating expenses not attributable to our operating segments. Mortgage Insurance 2025 2024 September 30 June 30 March 31 December 31 September 30($ in thousands) Revenues: Net premiums earned$231,628 $233,907 $233,630 $227,863 $231,249 Net investment income 49,568 48,892 47,630 46,191 46,241 Realized investment gains (losses), net (427) (124) (101) (120) 73 Income (loss) from other invested assets (605) 3,619 3,209 2,925 3,132 Other income 2,391 3,523 4,501 3,884 3,706 Total revenues 282,555 289,817 288,869 280,743 284,401 Losses and expenses: Provision for losses and LAE 44,177 15,359 30,722 37,254 29,816 Compensation and benefits 16,568 16,793 19,890 18,037 17,656 Premium and other taxes 6,018 6,000 5,574 5,968 5,863 Ceding commission (6,942) (6,910) (6,508) (6,547) (6,433)Other underwriting and operating expenses 10,949 11,128 11,637 11,779 10,798 Net operating expenses before allocations 26,593 27,011 30,593 29,237 27,884 Corporate expense allocations 7,583 9,241 13,014 10,657 10,672 Operating expenses after allocations 34,176 36,252 43,607 39,894 38,556 Income before income tax expense$204,202 $238,206 $214,540 $203,595 $216,029 Loss Ratio (1) 19.1% 6.6% 13.1% 16.3% 12.9%Expense Ratio (2) 14.8% 15.5% 18.7% 17.5% 16.7%Combined Ratio 33.9% 22.1% 31.8% 33.8% 29.6% (1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned.(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. Exhibit O, continuedEssent Group Ltd. and SubsidiariesSupplemental InformationHistorical Quarterly Segment Information(Unaudited) Corporate & Other 2025 2024 September 30 June 30 March 31 December 31 September 30($ in thousands) Revenues: Net premiums earned$14,704 $14,902 $12,218 $16,602 $17,687 Net investment income 10,227 10,397 10,580 10,368 11,099 Realized investment gains (losses), net 2 (5) (80) 6 (5)Income (loss) from other invested assets 2,375 847 4,199 3,964 (312)Other income 1,967 3,185 1,772 3,344 3,708 Total revenues 29,275 29,326 28,689 34,284 32,177 Losses and expenses: Provision for losses and LAE 745 1,696 565 3,721 850 Compensation and benefits 12,608 13,926 19,802 16,490 16,136 Premium and other taxes (88) 495 1,329 569 432 Ceding commission 47 — — — — Other underwriting and operating expenses 20,338 21,333 19,400 24,655 22,429 Net operating expenses before allocations 32,905 35,754 40,531 41,714 38,997 Corporate expense allocations (7,583) (9,241) (13,014) (10,657) (10,672)Operating expenses after allocations 25,322 26,513 27,517 31,057 28,325 Interest expense 8,251 8,148 8,148 8,151 11,457 Loss before income tax expense$(5,043) $(7,031) $(7,541) $(8,645) $(8,455) Consolidated 2025 2024 September 30 June 30 March 31 December 31 September 30($ in thousands) Revenues: Net premiums earned$246,332 $248,809 $245,848 $244,465 $248,936 Net investment income 59,795 59,289 58,210 56,559 57,340 Realized investment gains (losses), net (425) (129) (181) (114) 68 Income from other invested assets 1,770 4,466 7,408 6,889 2,820 Other income 4,358 6,708 6,273 7,228 7,414 Total revenues 311,830 319,143 317,558 315,027 316,578 Losses and expenses: Provision for losses and LAE 44,922 17,055 31,287 40,975 30,666 Compensation and benefits 29,176 30,719 39,692 34,527 33,792 Premium and other taxes 5,930 6,495 6,903 6,537 6,295 Ceding commission (6,895) (6,910) (6,508) (6,547) (6,433)Other underwriting and operating expenses 31,287 32,461 31,037 36,434 33,227 Total other underwriting and operating expenses 59,498 62,765 71,124 70,951 66,881 Interest expense 8,251 8,148 8,148 8,151 11,457 Income before income tax expense$199,159 $231,175 $206,999 $194,950 $207,574

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

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