Financial Data and Key Metrics Changes - For Q3 2021, the company reported net income of $205 million, an increase from $160 million in the previous quarter [7] - Diluted earnings per share were $1.84, up from $1.42 in the last quarter [8] - The annualized return on average equity for Q3 was 20% [8] - Book value per share increased to $37.58, with an annualized growth of 21% since going public in 2013 [11] Business Line Data and Key Metrics Changes - Net premium for Q3 2021 was $219 million, including $11.6 million from Essent Re's third-party business [15] - The average net premium rate for U.S. mortgage insurance decreased to 40 basis points from 41 basis points in the previous quarter [15] - Persistency increased to 62.2% at September 30, 2021, compared to 58.3% at June 30, 2021 [15] Market Data and Key Metrics Changes - As of September 30, 2021, the insurance in force was $208 billion, a 9% increase from $191 billion a year ago [8] - The default rate decreased to 2.47% from 2.96% at June 30, 2021 [16] Company Strategy and Development Direction - The company rolled out the next generation of EssentEDGE, enhancing its risk-based engine for refined pricing [9] - The focus is on leveraging technology and data analytics to optimize unit economics in a competitive mortgage insurance market [21] - The company maintains a strong capital position with $4.2 billion in GAAP equity and $2.4 billion in excess of loss re-insurance [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the portfolio, noting that the average FICO score is 745 and LTV is 92% [8] - The company is prepared for potential economic headwinds, emphasizing the importance of maintaining a fortress balance sheet [34] - Management highlighted the ongoing transition in the industry from rate card to fee-based models, positioning the company favorably due to its technological investments [28] Other Important Information - The Board approved a $0.01 increase in the dividend to $0.19 per share, representing a 19% increase from the previous year [11] - The company repurchased $70.9 million of stock during the quarter, totaling approximately $89 million in buybacks year-to-date [19] Q&A Session Summary Question: Changes in portfolio characteristics due to refinance activity - Management noted that the fundamental characteristics of the new business remain strong, with an average FICO of 745 and LTV of around 92% [23] Question: Competitive environment and pricing stability - Management confirmed that competition remains stable, with a shift from rate card to fee-only models impacting the industry [27][28] Question: Re-insurance levels and future expectations - Management indicated that re-insurance coverage is expected to increase to around 90% as new transactions are completed [32] Question: Impact of home price appreciation on persistency - Management acknowledged that while they have not seen significant changes yet, higher home price appreciation could lead to increased refinancing activity [41] Question: Technology talent acquisition and its impact on initiatives - Management stated that while attracting technology talent is competitive, they have been successful in leveraging both internal and external resources to meet their needs [46][47] Question: Participation in GSEs' CRT programs - Management confirmed participation in GSEs' CRT programs, particularly through Essent Re, and noted the potential for growth as Fannie Mae ramps up its offerings [49]

� ESSENT® ESSENT GROUP LTD. | NYSE: ESNT © 2021 Essent Group Ltd. All rights reserved. | essentgroup.com | 1 ESSENT GROUP LTD. INVESTOR PRESENTATION 2Q21 NYSE: ESNT August 6, 2021 Disclaimer This presentation 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," "anticipa ...

Financial Data and Key Metrics Changes - For Q2 2021, the company reported net income of $160 million, up from $136 million in the previous quarter, with diluted earnings per share increasing to $1.42 from $1.21 [7][13] - The annualized return on average equity for Q2 was 16%, and insurance in force reached $204 billion, a 17% increase from $175 billion a year ago [7][14] - The default rate decreased to 2.96% from 3.7% in the previous quarter and 5.19% a year ago, indicating improved credit performance [7][14] Business Line Data and Key Metrics Changes - Net earned premium for Q2 2021 was $217 million, including $13.3 million from Essent Re on third-party business, with the average net premium rate for U.S. mortgage insurance at 41 basis points, down from 42 basis points in Q1 [14] - Persistency increased to 58.3% from 56.1% in the previous quarter, reflecting a positive trend in customer retention [14] Market Data and Key Metrics Changes - The company noted strong millennial demand and historically low interest rates as positive factors for the housing market, which supports the business outlook [6] - The company’s PMIER sufficiency ratio was strong at 174%, with $1.3 billion in excess available assets, indicating a solid capital position [19] Company Strategy and Development Direction - The company is focused on optimizing unit economics and investing in technology, including migrating its platform to the cloud to enhance data processing and analysis capabilities [8][9] - The next generation of EssentEDGE technology is being developed to combine AI with large data sets for better pricing and credit risk management [6][20] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook on the business, citing strong underlying fundamentals in housing and the effectiveness of their operating model [5][20] - The company is cautious about the impact of refinancing on persistency but believes the purchase market will remain strong due to millennial demand [28][29] Other Important Information - The Board approved a dividend increase to $0.18 per share and the company repurchased approximately 400,000 shares for a total of $18 million as of June 30 [11][12] - The company’s operating margin for the first half of the year was 73%, with $340 million in operating cash flow generated [10] Q&A Session Summary Question: Where are you seeing the most attractive places to deploy your excess capital today? - Management indicated a measured approach to capital allocation, focusing on strategic investments and returning capital to shareholders through dividends and buybacks [21][22] Question: What percentage of the business is still coming from the rate card? - Approximately 70% of the business is coming through the pricing engine, with ongoing discussions to integrate with larger lenders to enhance competitiveness [24][25] Question: How much of a tailwind on expense ratio can be expected as persistency increases? - Management noted that lower new insurance written (NIW) could lead to significant savings in underwriting costs, improving overall economics [33] Question: Any early read on how EssentEDGE is performing in terms of picking credit quality? - Management emphasized that the focus is on optimizing premium levels rather than just improving credit quality, with expectations of better unit economics over time [45][46] Question: How do you see the overall market share evolving? - The company noted an increase in purchase share from 62% to 82%, indicating potential for overall market penetration to increase as the market shifts towards purchases rather than refinances [50][51]

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares, $0.015 par value ESNT New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission ...

Essent Group Ltd. (NYSE:ESNT) Q1 2021 Earnings Conference Call May 7, 2021 10:00 AM ET Company Participants Chris Curran – Senior Vice President-Investor Relations Mark Casale – Chairman and Chief Executive Officer Larry McAlee – Chief Financial Officer Conference Call Participants Mark DeVries – Barclays Doug Harter – Credit Suisse Rick Shane – JPMorgan Bose George – KBW Mihir Bhatia – Bank of America Ryan Gilbert – BTIG Phil Stefano – Deutsche Bank Operator Good day and thank you for standing by. Welcome ...

Company Overview - Essent Group Ltd has transformed its business model to a "Buy, Manage & Distribute" approach through programmatic reinsurance[2] - Essent Group Ltd's total Insurance In Force (IIF) was $197.1 billion as of March 31, 2021[2] - Essent Guaranty, Inc has a combined risk-to-capital ratio of 10.6:1 as of March 31, 2021[2] Financial Performance (Q1 2021) - The company's Net Income was $135.6 million[3] - The Combined Ratio was 34%[3] - The Return on Equity (ROE) was 13.9%[3] - Shareholders' Equity stood at $3.9 billion[3] - The PMIERs Sufficiency Ratio was 161%[3] Portfolio and Risk Management - 87% of the Insurance In Force (IIF) has reinsurance protection[3] - As of March 31, 2021, Essent has access to $2.0 billion in Insurance-Linked Notes (ILN)/Excess of Loss (XOL) reinsurance coverage[20] - As of March 31, 2021, Essent Guaranty, Inc had a PMIERs required asset amount of $1.9 billion and an excess asset amount of $1.1 billion, yielding a PMIERs sufficiency ratio of 161%[49]

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited Q1 2021 financial statements detail assets, liabilities, and equity, showing net income impacted by increased COVID-19 related loss reserves [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2021 (in thousands) | December 31, 2020 (in thousands) | | :--- | :--- | :--- | | **Total Assets** | **$5,331,846** | **$5,202,724** | | Total Investments | $4,801,869 | $4,654,277 | | Cash | $81,022 | $102,830 | | **Total Liabilities** | **$1,410,909** | **$1,340,091** | | Reserve for losses and LAE | $411,123 | $374,941 | | Unearned premium reserve | $235,730 | $250,436 | | **Total Stockholders' Equity** | **$3,920,937** | **$3,862,633** | [Condensed Consolidated Statements of Comprehensive Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Unaudited)) Condensed Consolidated Statements of Comprehensive Income (Unaudited) | Account | Three Months Ended March 31, 2021 (in thousands) | Three Months Ended March 31, 2020 (in thousands) | | :--- | :--- | :--- | | Net premiums earned | $219,067 | $206,496 | | Total revenues | $244,797 | $228,840 | | Provision for losses and LAE | $32,322 | $8,063 | | Total losses and expenses | $76,612 | $52,142 | | **Net income** | **$135,648** | **$149,523** | | **Diluted EPS** | **$1.21** | **$1.52** | | Comprehensive income | $76,445 | $139,449 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Activity | Three Months Ended March 31, 2021 (in thousands) | Three Months Ended March 31, 2020 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $187,771 | $163,131 | | Net cash used in investing activities | ($186,259) | ($381,426) | | Net cash (used in) provided by financing activities | ($23,320) | $178,000 | | **Net decrease in cash** | **($21,808)** | **($40,295)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) - Essent Guaranty reinsures a portion of its new insurance written (NIW) to its affiliate, Essent Re, with coverage increasing from **25% to 35%** for new business effective January 1, 2021[37](index=37&type=chunk) - The company utilizes both quota share and excess of loss reinsurance agreements with third-party reinsurers and special purpose insurers (Radnor Re Transactions) to manage risk and capital[64](index=64&type=chunk)[68](index=68&type=chunk)[69](index=69&type=chunk) - As of March 31, 2021, insured loans in default totaled **29,080**, including **26,874** classified as COVID-19 defaults, with a reserve for losses and LAE of **$362.9 million** for these defaults[80](index=80&type=chunk)[83](index=83&type=chunk) - For defaults reported between April and September 2020 ("Early COVID Defaults"), the company established a reserve equal to approximately **7%** of the risk in force, anticipating a lower claim rate due to forbearance programs, while resuming normal reserve methodology for defaults after September 2020[83](index=83&type=chunk) - In May 2021, the Board of Directors declared a quarterly cash dividend of **$0.17 per share** and approved a new share repurchase plan authorizing up to **$250 million** of its common shares through the end of 2022[91](index=91&type=chunk) - As of March 31, 2021, Essent Guaranty was in compliance with the Private Mortgage Insurer Eligibility Requirements (PMIERs 2.0) set by the GSEs[130](index=130&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2021 performance, highlighting decreased net income due to higher loss provisions from COVID-19 defaults, despite increased net premiums earned and strong capital position [Overview and COVID-19 Impact](index=27&type=section&id=Overview%20and%20COVID-19%20Impact) - The company generated new insurance written (NIW) of **$19.3 billion** for Q1 2021, up from **$13.5 billion** in Q1 2020, with total insurance in force (IIF) at **$197.1 billion** as of March 31, 2021[140](index=140&type=chunk) - Due to COVID-19, the company experienced a significant increase in new defaults in 2020, with "Early COVID Defaults" from Q2 and Q3 2020 reserved differently due to expected higher cure rates from forbearance programs and government stimulus[142](index=142&type=chunk) - For new defaults reported after September 30, 2020, the company reverted to its normal loss reserving methodology as their credit characteristics trended towards pre-pandemic levels[142](index=142&type=chunk) [Key Performance Indicators](index=32&type=section&id=Key%20Performance%20Indicators) Insurance In Force (IIF) Summary (in thousands) | Metric | Q1 2021 (in thousands) | Q1 2020 (in thousands) | | :--- | :--- | :--- | | IIF, beginning of period | $198,882,352 | $164,005,853 | | NIW - Flow | $19,254,014 | $13,549,299 | | Cancellations | ($21,045,175) | ($11,939,800) | | **IIF, end of period** | **$197,091,191** | **$165,615,503** | - The average net premium rate was **0.42%** for Q1 2021, down from **0.48%** for Q1 2020, due to increased ceded premiums, changes in business mix, and pricing changes[178](index=178&type=chunk) - The persistency rate, measuring the percentage of IIF remaining after 12 months, was **56.1%** at March 31, 2021[153](index=153&type=chunk) - The combined risk-to-capital ratio for U.S. insurance companies was **10.6 to 1** as of March 31, 2021, well below the maximum permitted ratio of **25.0 to 1**[179](index=179&type=chunk)[226](index=226&type=chunk) [Results of Operations](index=34&type=section&id=Results%20of%20Operations) - Net income decreased to **$135.6 million** in Q1 2021 from **$149.5 million** in Q1 2020, primarily due to a higher provision for losses and LAE[184](index=184&type=chunk) - Net premiums earned increased by **6%** to **$219.1 million** in Q1 2021, driven by a higher average IIF, though the average net premium rate declined[185](index=185&type=chunk) - The provision for losses and LAE increased significantly to **$32.3 million** in Q1 2021 from **$8.1 million** in Q1 2020, mainly due to an increase in defaults related to COVID-19[191](index=191&type=chunk) Default Inventory Summary | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Beginning default inventory | 31,469 | 5,947 | | New defaults | 7,422 | 3,933 | | Cures | (9,737) | (3,914) | | **Ending default inventory** | **29,080** | **5,841** | - Other underwriting and operating expenses remained stable at **$42.2 million** in Q1 2021 compared to **$41.9 million** in Q1 2020[205](index=205&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) - As of March 31, 2021, the company had substantial liquidity, including **$81.0 million** in cash, **$449.3 million** in short-term investments, and **$300 million** available under its revolving credit facility[212](index=212&type=chunk) - Net cash and investments at the holding company level were **$540.3 million** at March 31, 2021[212](index=212&type=chunk) - Essent Guaranty's Available Assets under PMIERs 2.0 were **$3.00 billion**, exceeding the Minimum Required Assets of **$1.86 billion** as of March 31, 2021[229](index=229&type=chunk) - On May 5, 2021, Essent Guaranty paid a **$100 million** dividend to its parent, Essent US Holdings, Inc., after receiving required GSE approval[216](index=216&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's investment portfolio faces market risks including interest rate, credit, concentration, and prepayment risks, with an effective duration of **3.9 years** as of March 31, 2021 - The primary market risks managed by the company include interest rate changes, credit quality deterioration, concentration risk, and prepayment risk[257](index=257&type=chunk)[258](index=258&type=chunk)[259](index=259&type=chunk) - As of March 31, 2021, the effective duration of the company's investments available for sale was **3.9 years**, implying a **3.9%** change in fair value for every **100 basis point** change in interest rates[261](index=261&type=chunk) [Controls and Procedures](index=50&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2021, with no material changes to internal control over financial reporting - Based on an evaluation as of the end of the reporting period, the CEO and CFO concluded that the company's disclosure controls and procedures were effective[262](index=262&type=chunk) - No changes occurred in the company's internal control over financial reporting during the most recent fiscal quarter that materially affected, or are reasonably likely to materially affect, these controls[263](index=263&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material legal proceedings - The company is not currently subject to any material legal proceedings[266](index=266&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the 2020 Annual Report on Form 10-K - There have been no material changes in risk factors from those disclosed in the company's 2020 Annual Report on Form 10-K[267](index=267&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **70,521** common shares at an average price of **$43.39** per share in Q1 2021, primarily for employee tax withholding, not a formal buyback program Repurchases of Securities (Q1 2021) | Period | Total Number of Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | Jan 1 - Jan 31, 2021 | — | N/A | | Feb 1 - Feb 28, 2021 | — | N/A | | Mar 1 - Mar 31, 2021 | 70,521 | $43.39 | | **Total** | **70,521** | **N/A** | - All repurchased shares were tendered by employees to satisfy tax withholding obligations related to the vesting of restricted shares and were not part of a publicly announced buyback program[268](index=268&type=chunk) [Other Information](index=51&type=section&id=Item%205.%20Other%20Information) The 2021 Annual General Meeting of Shareholders saw the election of directors, ratification of auditors, and a non-binding advisory vote on executive compensation that did not pass - The 2021 Annual General Meeting of Shareholders was held on May 5, 2021[270](index=270&type=chunk) - Shareholders elected three Class I directors: Jane P. Chwick, Aditya Dutt, and Roy J. Kasmar[272](index=272&type=chunk) - The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2021 was ratified[276](index=276&type=chunk) - A non-binding, advisory vote on executive compensation did not receive majority approval, with **54.9 million** votes against and **46.9 million** votes for[276](index=276&type=chunk) [Exhibits](index=52&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and financial statements in Inline XBRL format - Exhibits filed with the report include CEO and CFO certifications under Sarbanes-Oxley Sections 302 and 906[275](index=275&type=chunk) - The financial statements and notes were also submitted in Inline XBRL format as required[275](index=275&type=chunk)

Financial Performance - For the year ended December 31, 2020, the company generated new insurance written (NIW) of approximately $107.9 billion, a significant increase from $63.6 billion in 2019 and $47.5 billion in 2018[39]. - As of December 31, 2020, the company had approximately $198.9 billion of insurance in force, indicating strong market presence[39]. - The top ten customers represented approximately 35.8% of the company's NIW on a flow basis for the year ended December 31, 2020[39]. - The significant increase in mortgage market activity in 2020 was largely driven by historically low interest rates due to the COVID-19 pandemic[49]. - The private mortgage insurance industry has more than doubled its share of the total insured market since 2009, indicating significant growth in the sector[53]. - As of December 31, 2020, the total Insurance in Force (IIF) was $198,882,352 thousand, an increase from $164,005,853 thousand in 2019, representing a growth of 21.3%[84]. Market Context - The U.S. residential mortgage market had over $11.5 trillion of debt outstanding as of September 30, 2020, highlighting the scale of the market in which the company operates[46]. - GSEs held or guaranteed approximately $5.3 trillion, or 45.8%, of total U.S. residential mortgage debt outstanding as of September 30, 2020, indicating their significant role in the market[47]. - In 2020, total U.S. residential mortgage origination volume was estimated at $3.57 trillion, consisting of $1.42 trillion in purchase originations and $2.15 trillion in refinancing originations[49]. Risk Management - The COVID-19 pandemic had a material impact on the company's financial results, with over 90% of mortgage loans insured being federally backed by GSEs, leading to potential loss reserves due to forbearance[42]. - The company’s risk across all policies written is approximately 25% of the underlying primary insurance in force, varying between 6% and 35% coverage[65]. - The risk management framework encompasses major risks including mortgage insurance portfolio, investment risk, liquidity risk, and regulatory compliance risk[124]. - The modeling and analytics team analyzes mortgage, financial, economic, and housing data to develop proprietary behavioral models for credit assessment and loss severity trends[130]. Regulatory Environment - The company is in compliance with the revised Private Mortgage Insurer Eligibility Requirements (PMIERs 2.0) as of December 31, 2020[152]. - The Dodd-Frank Act amended TILA and RESPA, significantly impacting business prospects for private mortgage insurers[163]. - The QM Rule establishes that a loan is deemed a qualified mortgage if it meets specific requirements, including a maximum debt-to-income ratio of 43%[168]. - The Dodd-Frank Act requires issuers of asset-backed securities to retain at least 5% of the risk associated with securitized mortgage loans, unless classified as a qualified residential mortgage (QRM)[173]. - Increased regulatory scrutiny could lead to new legal precedents or regulations that may adversely affect the financial condition and operating results of private mortgage insurers[180]. Insurance Operations - The majority of policies written are primary mortgage insurance, which provides protection on individual loans at specified coverage percentages[64]. - The company offers mortgage-related insurance and reinsurance through Essent Re, which reinsures 25% of Essent Guaranty's new insurance written (NIW)[77]. - Approximately 66% of the insurance in force was originated on a delegated basis as of December 31, 2020, compared to 62% as of December 31, 2019[121]. - Approximately 34% of the insurance in force was originated on a non-delegated basis as of December 31, 2020, compared to 38% as of December 31, 2019[121]. Customer and Portfolio Insights - The company maintains a geographically diverse portfolio, with only three states (California, Texas, and Florida) accounting for more than 5% of the IIF as of December 31, 2020[88]. - The top metropolitan statistical area by IIF was Phoenix-Mesa-Chandler, AZ, which accounted for 3.0% of the total IIF in December 2020, up from 2.7% in 2019[93]. - The IIF by FICO score shows that loans with a score of >=760 accounted for 41.5% of the total IIF in both 2020 and 2019, while the segment of 740-759 increased from 17.0% in 2019 to 17.3% in 2020[84]. - The IIF by Loan-to-Value (LTV) ratio indicates that loans with an LTV of 90.01% to 95.00% represented 43.3% of the total IIF in 2020, up from 46.7% in 2019[84]. Investment Strategy - The investment portfolio represented 91.4% of total assets at December 31, 2020, with a focus on preserving capital and generating investment income[143]. - Approximately 86.2% of investments available for sale were managed by external asset managers as of December 31, 2020[146]. - The company has adopted an investment policy that includes specific limits for asset sectors, credit ratings, and eligible investments[144]. Default and Claims - As of December 31, 2020, the number of primary insured loans was 799,893, with 31,469 loans in default, representing a default rate of 3.93%[136]. - The number of COVID-19 classified defaults was 28,922 out of the total defaults as of December 31, 2020[139]. - Historically, mortgage insurers do not receive claim requests until approximately 18 months following a default, with a noted increase in time lag due to foreclosure moratoriums[140]. - The company expects that the forbearance process could favorably affect the frequency of claims ultimately paid[139].

Essent Group Ltd. (NYSE:ESNT) Q4 2020 Earnings Conference Call February 19, 2021 10:00 AM ET Company Participants Chris Curran - Senior Vice President of Investor Relations Mark Casale - Chairman and Chief Executive Officer Larry McAlee - Chief Financial Officer Conference Call Participants Phil Stefano - Deutsche Bank Mark DeVries - Barclays Doug Harter - Credit Suisse Jack Micenko - SIG Bose George - KBW Rick Shane - JPMorgan Ryan Gilbert - BTIG Operator Thank you for standing by, and welcome to the Essen ...

ESSENT GROUP LTD. INVESTOR PRESENTATION 4Q & FY 2020 NYSE: ESNT FEBRUARY 19, 2021 DISCLAIMER This presentation 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 thereo ...