Enact (US:ACT)2025-07-31 12:00Financial Performance - Enact achieved a record high Adjusted Operating Income of $718 million for the full year 2024[7] - Net income for FY 2024 was $688 million, compared to $666 million in FY 2023[9] - Adjusted Operating Income for FY 2024 was $718 million, up from $676 million in FY 2023[9] - Enact returned $354 million of capital to shareholders in 2024[11] Key Metrics - Insurance in-force reached a new record of $269 billion, driven by New Insurance Written (NIW) of $13 billion and persistency of 82%[12] - The company's PMIERs (Private Mortgage Insurer Eligibility Requirements) sufficiency remained strong at $2.1 billion, representing 167%[12] - The expense ratio for FY 2024 remained at 23%, consistent with FY 2023[9] - Book Value Per Share increased to $32.80, compared to $29.07 in the previous year[9] Risk Management and Portfolio - The percentage of policies with mortgage rates less than 6% is 68% of the Insurance in-force[30] - Minimal high-risk layers within the portfolio, with only 1.3% having one or more high-risk layers[25]