Essent .(US:ESNT)2023-05-05 15:55Company Overview - Essent Group Ltd is a Bermuda-based holding company traded on the NYSE under the ticker ESNT[5] - The company serves the U S housing finance industry by offering mortgage insurance and reinsurance to support home ownership[5] - Essent has transformed its business model from "Buy and Hold" to "Buy, Manage & Distribute" through programmatic reinsurance[5] Financial Performance (Q1 2023) - Insurance In Force (IIF) reached $2315 billion[5] - New Insurance Written (NIW) totaled $129 billion[5] - Net income was $1708 million[5] - The combined ratio was 227%[5] - The annualized Return on Equity (ROE) was 150%[5] Capital Management and Risk Mitigation - Shareholders' equity stood at $46 billion, with a PMIERs Sufficiency Ratio of 168%[5] - 96% of the Insurance In Force (IIF) is subject to reinsurance protection[5,20] - The risk-to-capital ratio is 103:1[5] Strategic Initiatives - Essent US Holdings agreed to acquire title insurance operations from Finance of America Companies for $100 million[16,40] - The company has invested $240 million in EssentVentures, with approximately $67 million returned as realized proceeds as of March 31, 2023[25,37]