Essent Group Ltd

Latest Results (02.04.2026):

Essent Group Ltd.'s fourth quarter 2025 results (quarter ended December 31, 2025) show net income of $155.0 million ($1.60 diluted EPS) and full year 2025 net income of $690.0 million ($6.90 diluted EPS). The company reported steady mortgage insurance in force, completed material capital returns (share repurchases and dividends) and announced new reinsurance arrangements while establishing a separate Reinsurance segment.

Earnings (Q4 2025 & Full Year 2025)

Q4 2025 net income: $155.0M, $1.60 diluted EPS (vs. $167.9M / $1.58 diluted in Q4 2024). Full year 2025 net income: $690.0M, $6.90 diluted EPS (vs. $729.4M / $6.85 diluted in 2024). Q4 income before tax was $184.5M; net premiums earned in Q4 were $242.7M and net investment income was $59.2M.

Dividend and Capital Return

The Board declared a quarterly cash dividend of $0.35 per common share payable March 23, 2026 (record date March 13, 2026). In 2025 Essent repurchased 9.9 million shares for $576M and said it returned nearly $700M to shareholders via dividends and repurchases, retiring nearly 10% of outstanding shares.

Mortgage Insurance Production & In Force

Mortgage Insurance new insurance written (NIW) in Q4 2025 was $11.84B (down from $12.23B in Q3 2025 and Q4 2024). Insurance in force at December 31, 2025 was $248.4B (vs. $248.8B at Sept. 30, 2025 and $243.6B at Dec. 31, 2024). New insurance written mix showed higher-weighted credit scores and a weighted average LTV around 93%.

Reinsurance & Segment Update

In Q4 2025 Essent Guaranty entered a quota share reinsurance agreement covering 20% of eligible policies written in 2027. Essent Re also entered quota share agreements backed by Funds at Lloyd’s to reinsure certain property & casualty risks effective Q1 2026. All third‑party reinsurance is now reported as a separate "Reinsurance" segment.

Capital, Reserves & Balance Sheet Highlights

At Dec. 31, 2025 consolidated total assets were $7.441B and stockholders' equity was $5.757B. Reserve for losses and LAE on the balance sheet was reported at $446.8M. Book value per share was $60.31 and return on average equity for 2025 was 12.1% (vs. 13.6% in 2024).

Regulatory / Mortgage Insurer Capital (Essent Guaranty)

Essent Guaranty (statutory) available assets per the company: $3.520B with Minimum Required Assets of $2.087B, giving a PMIERs excess of ~$1.433B and a PMIERs sufficiency ratio of ~169% at Dec. 31, 2025.

Other operational metrics

Weighted average diluted shares fell to ~96.7M in Q4 2025 (from 106.1M in Q4 2024) reflecting buybacks. Q4 provision for losses and LAE was $56.1M and other underwriting & operating expenses were $63.7M. Management characterized performance as resilient and emphasized a balanced capital-management strategy.