Enact Holdings Inc

Latest Results (20.11.2025):

Enact Holdings, Inc. — Third Quarter 2025: The company reported total revenues of $311.5 million and net income of $163.5 million for Q3 2025 (consolidated statement amounts shown in the report in thousands). Adjusted operating income (which excludes net investment gains/losses, restructuring costs and similar items) was $165.9 million. Diluted net income per share was $1.10 and diluted adjusted operating income per share was $1.12. The company finished the quarter with $6.876 billion of total assets and a book value per share of $36.53.

Revenues & Net Income

Total revenues were $311.5 million in Q3 2025, driven by premiums of $244.7 million and net investment income of $68.6 million, producing net income of $163.5 million for the quarter.

Adjusted Operating Income & EPS

Adjusted operating income was $165.9 million in Q3 2025. Reported diluted EPS was $1.10 (net income) and adjusted operating diluted EPS was $1.12 for the quarter.

Investment Results

Net investment income was $68.6 million in the quarter while realized net investment losses were $2.8 million; the company excludes such realized gains/losses from its adjusted operating income metric.

Loss & Expense Ratios

Loss ratio for Q3 2025 was 15% and the expense ratio was 22%, reflecting higher losses incurred of $35.9 million and acquisition/operating expenses (plus amortization) consistent with prior quarters.

Balance Sheet & Liquidity

Total assets were $6.876 billion at September 30, 2025, including investments of $6.070 billion and cash and cash equivalents of $543.6 million. Long-term borrowings were $744.1 million and the debt-to-capital ratio was 12%.

Capital & Returns

Book value per share was $36.53 at quarter-end. U.S. GAAP ROE for Q3 2025 was 12.4% and adjusted operating ROE was 12.6% (annualized basis as presented by the company).