Financial Data and Key Metrics Changes - For Q4 2025, the company reported net income of $155 million or $1.60 per diluted share, compared to $1.67 in the previous quarter and $1.58 in Q4 2024 [4][11] - For the full year 2025, net income was $690 million or $6.90 per diluted share, with a return on average equity of 12% [4][10] - Book value per share increased by 13% year-over-year to $60.31 as of December 31 [5][10] - The company generated operating cash flow of $856 million for the full year 2025 [10] Business Line Data and Key Metrics Changes - The mortgage insurance in force was $248 billion, a 2% increase year-over-year, but a decrease of $452 million from the previous quarter [5][12] - Persistency for the mortgage insurance portfolio was 86% as of December 31, reflecting a slight decrease from 86% in the previous quarter [5][12] - The average base premium rate for the mortgage insurance portfolio remained stable at 41 basis points, while the average net premium rate decreased by 1 basis point to 34 basis points [13] Market Data and Key Metrics Changes - The portfolio default rate increased modestly to 2.5%, up 21 basis points from the previous quarter [13] - The weighted average FICO score for the insurance in force was 747, with a weighted average original loan-to-value (LTV) of 93% [5] Company Strategy and Development Direction - The company is focused on a disciplined capital management strategy, returning nearly $700 million to shareholders in 2025 through dividends and share repurchases [10] - The company has entered the Lloyd's market to expand its reinsurance capabilities, viewing it as a strategic opportunity rather than a new line of business [20][22] - The company aims to optimize unit economics rather than prioritize market share, focusing on long-term growth in book value per share [56] Management's Comments on Operating Environment and Future Outlook - Management noted that the current housing market presents challenges, with modest growth expected in insurance in force due to high mortgage rates and limited supply [41] - The company believes that the embedded home equity in its portfolio will help mitigate future claims [6] - Management expressed confidence in the strength of the balance sheet and the ability to return capital to shareholders while maintaining a cautious outlook on credit [59] Other Important Information - The company repurchased nearly 10% of its shares outstanding at the end of 2024 and approved a 13% increase in its quarterly dividend to $0.35 per share starting in Q1 2026 [10][16] - The consolidated cash and investments totaled $6.6 billion, with an aggregate yield of 3.9% for the year [9] Q&A Session Summary Question: Why enter the Lloyd's market now? - Management indicated that the decision was part of a long-term strategy to expand and leverage existing assets, with a focus on capital efficiency and diversification [20][22] Question: Is the decrease in insurance in force a strategic decision? - Management clarified that the decrease should not be over-interpreted, as it reflects market dynamics rather than a specific strategic pullback [30] Question: What is the outlook for insurance in force growth? - Management expects modest growth in insurance in force, with potential for a spike when younger demographics enter the homeownership market [41] Question: How does the company view credit risk? - Management stated that credit quality remains benign, and they are not currently making significant changes based on credit concerns [46][58]

February 13, 2026 ESSENT GROUP LTD. | NYSE: ESNT © 2026 Essent Group Ltd. All rights reserved. | essentgroup.com | 1 EARNINGS PRESENTATION 4Q25 ESSENT GROUP LTD. NYSE: ESNT Company Overview Recent Developments | | 3Q25 | 4Q25 | | --- | --- | --- | | Consolidated Financial Results | | | | Net Income ($M) | $164.2 | $155.0 | | Annualized ROE | 11.5% | 10.8% | | Shareholders' Equity ($B) | $5.7 | $5.8 | | Mortgage Insurance Portfolio | | | | Combined Ratio | 34.9% | 42.0% | | IIF ($B) | $248.8 | $248.4 | | NIW ...

EMERYVILLE, Calif., Feb. 12, 2026 (GLOBE NEWSWIRE) -- NMI Holdings, Inc., (Nasdaq: NMIH), the parent company of National Mortgage Insurance Corporation (National MI), announced today that Renu Agrawal has been appointed as an independent member of its Board of Directors, effective immediately. National MI’s Board increases to ten members with Ms. Agrawal’s appointment. “We are delighted to welcome Renu to National MI’s Board,” said Bradley Shuster, Executive Chairman and Chairman of the Board of National MI ...

Chief Financial Officer Aurora Swithenbank said IIF increased 1.4% from the third quarter and 5.4% from the fourth quarter of 2024. Twelve-month persistency was 83.4% in the fourth quarter, down from 83.9% in the third quarter.In the fourth quarter, President and CEO Adam Pollitzer said the company generated $14.2 billion of NIW and posted record total revenue of $180.7 million. GAAP net income was $94.2 million, or $1.20 per diluted share, with a 14.8% return on equity.For the full year, management reporte ...

NMI (NasdaqGM:NMIH) Q4 2025 Earnings call February 10, 2026 05:00 PM ET Company ParticipantsAdam Pollitzer - President and CEOAurora Swithenbank - CFOBose George - Managing DirectorBrad Shuster - Executive ChairmanJohn Swenson - Vice President of Investor Relations and TreasuryConference Call ParticipantsMark Hughes - Research AnalystRick Shane - Director and Senior Equity Research AnalystTerry Ma - Senior Equity Research AnalystOperatorGood day and welcome to the NMI Holdings, Inc. fourth quarter 2025 earn ...

NMI (NasdaqGM:NMIH) Q4 2025 Earnings call February 10, 2026 05:00 PM ET Speaker5Good day and welcome to the NMI Holdings, Inc. fourth quarter 2025 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on a touch-tone phone. To withdraw your question, please press s ...

EMERYVILLE, Calif., Feb. 10, 2026 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) today reported net income of $94.2 million, or $1.20 per diluted share, for the fourth quarter ended December 31, 2025, compared to $96.0 million, or $1.22 per diluted share, for the third quarter ended September 30, 2025 and $86.2 million, or $1.07 per diluted share, for the fourth quarter ended December 31, 2024. Net income for the full year ended December 31, 2025 was $388.9 million or $4.92 per diluted share, which c ...

Financial Data and Key Metrics Changes - For the full year 2025, the company reported adjusted operating income of $688 million or $4.61 per diluted share, with a year-end adjusted book value per share increasing by 11% to $37.87 [4][12] - In Q4 2025, adjusted operating income was $179 million or $1.23 per diluted share, compared to $1.09 per diluted share in the same period last year [12][14] - Adjusted return on equity for Q4 was 13.5% [7][12] Business Line Data and Key Metrics Changes - New insurance written in Q4 was $14 billion, up 2% sequentially and 8% year-over-year [13] - The primary insurance in force reached $273 billion in Q4, up $1 billion from Q3 2025 and $4 billion year-over-year [14] - Operating expenses for Q4 were $59 million, with an expense ratio of 24%, compared to $53 million and 22% in Q3 2025 [18] Market Data and Key Metrics Changes - Persistency was 80% in Q4, down 3 points sequentially and 2 points year-over-year [13] - The risk-weighted average FICO score of the insurance in-force portfolio was 746, with a risk-weighted average loan-to-value ratio of 93% [8] Company Strategy and Development Direction - The company is focused on disciplined capital allocation, supporting existing policyholders, and investing in business growth while returning excess capital to shareholders [9][10] - The company plans to return approximately $500 million to shareholders in 2026, supported by a strong capital position and effective risk management [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the uncertain macro environment and highlighted strong long-term housing demand driven by demographic trends [23] - The company remains engaged with policymakers regarding housing affordability and supply constraints, indicating a proactive approach to evolving regulatory environments [31][32] Other Important Information - The company received multiple credit ratings upgrades and industry awards, reflecting its commitment to excellence and employee experience [6][7] - The PMIER sufficiency ratio was 162%, providing significant financial flexibility [19] Q&A Session Summary Question: Capital return guidance for 2026 - Management is confident in delivering $500 million back to shareholders but will evaluate market dynamics and business performance throughout the year [25][26] Question: Regulatory environment concerns - Management is actively engaged with policymakers on various topics, including affordability and inventory challenges, and is monitoring potential regulatory changes [30][32] Question: Mortgage market expectations for 2026 - The company anticipates a 10%-15% increase in mortgage insurance market size based on external forecasts, with a focus on purchase originations [33][34] Question: Default rates and delinquency trends - Management expects new delinquencies to moderate, with current levels in line with expectations and historical patterns [36][38] Question: Performance of new book years - Recent book years are performing in line with pricing expectations, with no significant negative variations noted [42][44] Question: Areas of heightened risk - Management is monitoring housing markets with increased supply and declining prices, particularly in certain states, to manage risk effectively [46][47]

Enact Holdings, Inc. Financial Supplement Fourth Quarter 2025 GAAP/Non-GAAP Disclosure Discussion This document includes the non-GAAP financial measures entitled "adjusted operating income (loss)," "adjusted operating income (loss) per share," and "adjusted operating return on equity." Adjusted operating income (loss) per share is derived from adjusted operating income (loss). Enact Holdings, Inc. (the "Company") defines adjusted operating income (loss) as net income (loss) excluding the after-tax effects o ...

RALEIGH, N.C., Feb. 03, 2026 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that its Board of Directors authorized a new share repurchase program under which the company may purchase up to $500 million of its common stock. The new share repurchase authorization is in addition to the company’s current $350 million share repurchase program, of which $30 million remains as of January 30, 2026. A ...