Essent .(US:ESNT)2021-05-07 19:08Company 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]