Essent Group Ltd. Announces Third Quarter 2026 Results and Declares Quarterly Dividend
HAMILTON, Bermuda, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended September 30, 2026 of $163.4 million or $1.82 per diluted share, compared to $164.2 million or $1.67 per diluted share for the quarter ended September 30, 2025.
Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.35 per common share. The dividend is payable on December 10, 2026 to shareholders of record on December 1, 2026.
“Our third quarter results reflect the earnings power of our mortgage insurance and reinsurance franchise,” said Mark A. Casale, Chairman and Chief Executive Officer. “With the solid credit quality of our insurance in force and our strong capital position, we are well positioned to deliver high-quality earnings with continued flexibility to invest in the business and return capital to shareholders.”
Financial Highlights:
- Mortgage new insurance written for the third quarter of 2026 was $12.1 billion, compared to $14.1 billion in the second quarter of 2026 and $12.2 billion in the third quarter of 2025.
- Mortgage insurance in force as of September 30, 2026 was $250.1 billion, compared to $249.7 billion as of June 30, 2026 and $248.8 billion as of September 30, 2025.
- Reinsurance net premiums written for the nine months ended September 30, 2026 were $330.3 million, compared to $49.3 million in the same period of 2025.
- Net investment income for the nine months ended September 30, 2026 was $183.8 million, up 4% from the comparable period in 2025.
- Year-to-date through October 31, 2026, Essent repurchased 7.7 million common shares for $474 million.
- In November 2026, our Board approved a $500 million share repurchase authorization that runs through year-end 2028.
Conference Call:
Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results. The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and-presentations/events/default.aspx.
Participants interested in joining the call’s live question and answer session are required to pre-register by clicking here to obtain a dial-in number and unique PIN. It is recommended that participants join 15 minutes prior to the event start, although they may register ahead of the call and dial in at any time during the call.
A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year.
In addition to the information provided in the Company's earnings news release, other statistical and financial information, which may be referred to during the conference call, will be available on Essent's website at http://ir.essentgroup.com/financials/quarterly-results/default.aspx.
Forward-Looking Statements:
This press release 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 thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers or the loss of a significant customer; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs; decline in the volume of low down payment mortgage originations; uncertainty of loss reserve estimates; decrease in the length of time our insurance policies are in force; deteriorating economic conditions; and other risks and factors described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission on February 18, 2026, as subsequently updated through other reports we file with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
About the Company:
Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) offering private mortgage insurance, reinsurance, and title insurance and settlement services to serve the housing finance industry. Additional information regarding Essent may be found at www.essentgroup.com.
Source: Essent Group Ltd.
Media Contact
610.230.0556
media@essentgroup.com
Investor Relations Contact
Frank Fanto
Manager, Investor Relations
855-809-ESNT
ir@essentgroup.com
| Essent Group Ltd. and Subsidiaries | ||
| Financial Results and Supplemental Information (Unaudited) | ||
| Quarter Ended September 30, 2026 | ||
| Exhibit A | Condensed Consolidated Statements of Comprehensive Income (Unaudited) | |
| Exhibit B | Condensed Consolidated Balance Sheets (Unaudited) | |
| Exhibit C | Consolidated Historical Quarterly Data (Unaudited) | |
| Exhibit D | Year-to-Date Segment Results (Unaudited) | |
| Exhibit E | Historical Quarterly Segment Information (Unaudited) | |
| Exhibit F | Mortgage Insurance - Historical Quarterly Data | |
| Exhibit G | Mortgage Insurance - New Insurance Written | |
| Exhibit H | Mortgage Insurance - Insurance in Force and Risk in Force | |
| Exhibit I | Mortgage Insurance - Vintage Data | |
| Exhibit J | Mortgage Insurance - Outward Reinsurance Vintage Data | |
| Exhibit K | Mortgage Insurance - Geographic Data | |
| Exhibit L | Mortgage Insurance - Rollforward of Defaults and Reserve for Losses and LAE | |
| Exhibit M | Mortgage Insurance - Detail of Reserves by Default Delinquency | |
| Exhibit N | U.S. Mortgage Insurance Company Capital | |
| Exhibit O | Reinsurance | |
| Exhibit P | Cash & Investments | |
| Exhibit Q | Book Value Per Share Inclusive of Common Dividends & Reconciliation of Non-GAAP Financial Measures | |
| Exhibit A | |||||||||||||||
| Essent Group Ltd. and Subsidiaries | |||||||||||||||
| Condensed Consolidated Statements of Comprehensive Income (Unaudited) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| (In thousands, except per share amounts) | 2026 | 2025 | 2026 | 2025 | |||||||||||
| Revenues: | |||||||||||||||
| Gross premiums written | $ | 342,429 | $ | 280,796 | $ | 1,116,059 | $ | 828,062 | |||||||
| Ceded premiums | (39,555 | ) | (38,968 | ) | (111,231 | ) | (106,475 | ) | |||||||
| Net premiums written | 302,874 | 241,828 | 1,004,828 | 721,587 | |||||||||||
| (Increase) decrease in unearned premiums | (12,202 | ) | 4,504 | (177,299 | ) | 19,402 | |||||||||
| Net premiums earned | 290,672 | 246,332 | 827,529 | 740,989 | |||||||||||
| Net investment income | 62,952 | 59,795 | 183,819 | 177,294 | |||||||||||
| Realized investment gains (losses), net | (1,626 | ) | (425 | ) | (1,884 | ) | (735 | ) | |||||||
| Income from other invested assets | 10,724 | 1,770 | 40,288 | 13,644 | |||||||||||
| Other income | 11,461 | 4,358 | 23,189 | 17,339 | |||||||||||
| Total revenues | 374,183 | 311,830 | 1,072,941 | 948,531 | |||||||||||
| Losses and expenses: | |||||||||||||||
| Provision for losses and LAE | 83,489 | 44,922 | 180,666 | 93,264 | |||||||||||
| Other underwriting and operating expenses | 83,490 | 59,498 | 231,731 | 193,387 | |||||||||||
| Interest expense | 8,162 | 8,251 | 24,458 | 24,547 | |||||||||||
| Total losses and expenses | 175,141 | 112,671 | 436,855 | 311,198 | |||||||||||
| Income before income taxes | 199,042 | 199,159 | 636,086 | 637,333 | |||||||||||
| Income tax expense | 35,666 | 34,944 | 111,197 | 102,346 | |||||||||||
| Net income | $ | 163,376 | $ | 164,215 | $ | 524,889 | $ | 534,987 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 1.84 | $ | 1.69 | $ | 5.76 | $ | 5.35 | |||||||
| Diluted | 1.82 | 1.67 | 5.71 | 5.29 | |||||||||||
| Weighted average shares outstanding: | |||||||||||||||
| Basic | 88,964 | 97,400 | 91,156 | 100,086 | |||||||||||
| Diluted | 89,774 | 98,519 | 91,894 | 101,155 | |||||||||||
| Net income | $ | 163,376 | $ | 164,215 | $ | 524,889 | $ | 534,987 | |||||||
| Other comprehensive income (loss): | |||||||||||||||
| Unrealized appreciation (depreciation) of investments | (168,983 | ) | 50,241 | (207,660 | ) | 138,559 | |||||||||
| Comprehensive income (loss) | $ | (5,607 | ) | $ | 214,456 | $ | 317,229 | $ | 673,546 | ||||||
| Exhibit B | |||||||
| Essent Group Ltd. and Subsidiaries | |||||||
| Condensed Consolidated Balance Sheets (Unaudited) | |||||||
| September 30, | December 31, | ||||||
| (In thousands, except per share amounts) | 2026 | 2025 | |||||
| Assets | |||||||
| Investments | |||||||
| Fixed maturities available for sale, at fair value | $ | 5,367,841 | $ | 5,455,593 | |||
| Short-term investments available for sale, at fair value | 504,142 | 648,492 | |||||
| Total investments available for sale | 5,871,983 | 6,104,085 | |||||
| Other invested assets | 451,948 | 382,513 | |||||
| Total investments | 6,323,931 | 6,486,598 | |||||
| Cash | 160,670 | 123,049 | |||||
| Accrued investment income | 46,662 | 47,371 | |||||
| Accounts receivable | 186,991 | 51,267 | |||||
| Deferred policy acquisition costs | 74,010 | 9,547 | |||||
| Property, equipment and software, net | 46,556 | 49,189 | |||||
| Prepaid federal income tax | 488,825 | 513,425 | |||||
| Goodwill and acquired intangible assets, net | 77,101 | 78,153 | |||||
| Other assets | 153,463 | 82,404 | |||||
| Total assets | $ | 7,558,209 | $ | 7,441,003 | |||
| Liabilities and Stockholders' Equity | |||||||
| Liabilities | |||||||
| Reserve for losses and LAE | $ | 585,478 | $ | 446,822 | |||
| Unearned premium reserve | 269,029 | 91,730 | |||||
| Net deferred tax liability | 422,475 | 465,351 | |||||
| Senior notes due 2029, net | 496,308 | 495,301 | |||||
| Other accrued liabilities | 229,854 | 185,072 | |||||
| Total liabilities | 2,003,144 | 1,684,276 | |||||
| Commitments and contingencies | |||||||
| Stockholders' Equity | |||||||
| Common shares, $0.015 par value: | |||||||
| Authorized - 233,333; issued and outstanding - 88,769 shares in 2026 and 95,456 shares in 2025 | 1,332 | 1,432 | |||||
| Additional paid-in capital | 227,604 | 649,895 | |||||
| Accumulated other comprehensive loss | (359,645 | ) | (151,985 | ) | |||
| Retained earnings | 5,685,774 | 5,257,385 | |||||
| Total stockholders' equity | 5,555,065 | 5,756,727 | |||||
| Total liabilities and stockholders' equity | $ | 7,558,209 | $ | 7,441,003 | |||
| Return on average equity (1) | 12.4 | % | 12.1 | % | |||
| (1) The 2026 return on average equity is calculated by dividing annualized year-to-date 2026 net income by average equity. The 2025 return on average equity is calculated by dividing full year 2025 net income by average equity. | |||||||
| Exhibit C | ||||||||||||||||||||
| Essent Group Ltd. and Subsidiaries | ||||||||||||||||||||
| Supplemental Information | ||||||||||||||||||||
| Consolidated Historical Quarterly Data (Unaudited) | ||||||||||||||||||||
| 2026 | 2025 | |||||||||||||||||||
| September 30 | June 30 | March 31 | December 31 | September 30 | ||||||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Net premiums earned | $ | 290,672 | $ | 276,764 | $ | 260,093 | $ | 242,729 | $ | 246,332 | ||||||||||
| Net investment income | 62,952 | 61,612 | 59,255 | 59,223 | 59,795 | |||||||||||||||
| Realized investment gains (losses), net | (1,626 | ) | (111 | ) | (147 | ) | (188 | ) | (425 | ) | ||||||||||
| Income from other invested assets | 10,724 | 19,385 | 10,179 | 3,942 | 1,770 | |||||||||||||||
| Other income (1) | 11,461 | 5,036 | 6,692 | 6,698 | 4,358 | |||||||||||||||
| Total revenues | 374,183 | 362,686 | 336,072 | 312,404 | 311,830 | |||||||||||||||
| Losses and expenses: | ||||||||||||||||||||
| Provision for losses and LAE | 83,489 | 48,961 | 48,216 | 56,073 | 44,922 | |||||||||||||||
| Other underwriting and operating expenses | 83,490 | 75,258 | 72,983 | 63,653 | 59,498 | |||||||||||||||
| Interest expense | 8,162 | 8,148 | 8,148 | 8,149 | 8,251 | |||||||||||||||
| Total losses and expenses | 175,141 | 132,367 | 129,347 | 127,875 | 112,671 | |||||||||||||||
| Income before income taxes | 199,042 | 230,319 | 206,725 | 184,529 | 199,159 | |||||||||||||||
| Income tax expense (2) | 35,666 | 40,605 | 34,926 | 29,547 | 34,944 | |||||||||||||||
| Net income | $ | 163,376 | $ | 189,714 | $ | 171,799 | $ | 154,982 | $ | 164,215 | ||||||||||
| Earnings per share: | ||||||||||||||||||||
| Basic | $ | 1.84 | $ | 2.09 | $ | 1.83 | $ | 1.62 | $ | 1.69 | ||||||||||
| Diluted | 1.82 | 2.08 | 1.82 | 1.60 | 1.67 | |||||||||||||||
| Weighted average shares outstanding: | ||||||||||||||||||||
| Basic | 88,964 | 90,740 | 93,818 | 95,772 | 97,400 | |||||||||||||||
| Diluted | 89,774 | 91,389 | 94,572 | 96,664 | 98,519 | |||||||||||||||
| Book value per share | $ | 62.58 | $ | 63.01 | $ | 61.20 | $ | 60.31 | $ | 58.86 | ||||||||||
| Return on average equity (annualized) | 11.7 | % | 13.4 | % | 12.0 | % | 10.8 | % | 11.5 | % | ||||||||||
| Senior debt & credit facility: | ||||||||||||||||||||
| Borrowings outstanding | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | ||||||||||
| Undrawn committed capacity | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | ||||||||||
| Weighted average interest rate (end of period) | 6.25 | % | 6.25 | % | 6.25 | % | 6.25 | % | 6.25 | % | ||||||||||
| Debt-to-capital | 8.26 | % | 8.11 | % | 8.07 | % | 7.99 | % | 8.01 | % | ||||||||||
| Cash and investments available for sale at the holding companies | $ | 959,062 | $ | 1,108,667 | $ | 1,144,112 | $ | 1,268,579 | $ | 1,038,747 | ||||||||||
| (1) Other income includes net favorable (unfavorable) changes in the fair value of embedded derivatives associated with certain of our third-party reinsurance agreements, which for the quarters ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, were $5,693, ($323), $37, ($526), and ($858), respectively. | ||||||||||||||||||||
| (2) Income tax expense for the quarters ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025 includes $3,440, $3,954, $2,407, $366, and $493, respectively, of discrete tax expense associated with realized and unrealized gains. Income tax expense for the quarters ended December 31, 2025 and September 30, 2025 also includes ($396) and ($828), respectively, of discrete tax benefits associated with prior year tax returns. Income tax expense for the quarter ended March 31, 2026 also includes ($1,067) of excess tax benefits associated with the vesting of common shares and common share units. | ||||||||||||||||||||
| Exhibit D | ||||||||||||||||||||||||||||||||
| Essent Group Ltd. and Subsidiaries | ||||||||||||||||||||||||||||||||
| Supplemental Information | ||||||||||||||||||||||||||||||||
| Year-to-Date Segment Results (Unaudited) | ||||||||||||||||||||||||||||||||
| The following tables set forth comparative financial information for our two reportable business segments, Mortgage Insurance and Reinsurance, our Corporate & Other category and our consolidated results for the nine months ended September 30, 2026 and 2025 (unaudited). Our Corporate & Other category is used to reconcile our reportable business segments to consolidated results and includes business activities associated with our title insurance operations, income and losses from holding company treasury operations, and general corporate operating expenses not attributable to our operating segments. | ||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||||||||||||||||||||||||||||||
| (In thousands) | Mortgage Insurance | Reinsurance | Corporate & Other | Consolidated | Mortgage Insurance | Reinsurance | Corporate & Other | Consolidated | ||||||||||||||||||||||||
| Revenues: | ||||||||||||||||||||||||||||||||
| Net premiums earned | $ | 642,283 | $ | 136,993 | $ | 48,253 | $ | 827,529 | $ | 654,069 | $ | 45,913 | $ | 41,007 | $ | 740,989 | ||||||||||||||||
| Net investment income | 132,540 | 16,299 | 34,980 | 183,819 | 130,731 | 15,358 | 31,205 | 177,294 | ||||||||||||||||||||||||
| Realized investment gains (losses), net | (1,893 | ) | — | 9 | (1,884 | ) | (652 | ) | — | (83 | ) | (735 | ) | |||||||||||||||||||
| Income from other invested assets | 24,690 | — | 15,598 | 40,288 | 6,223 | — | 7,421 | 13,644 | ||||||||||||||||||||||||
| Other income | 10,551 | 5,487 | 7,151 | 23,189 | 3,962 | 6,453 | 6,924 | 17,339 | ||||||||||||||||||||||||
| Total revenues | 808,171 | 158,779 | 105,991 | 1,072,941 | 794,333 | 67,724 | 86,474 | 948,531 | ||||||||||||||||||||||||
| Losses and expenses: | ||||||||||||||||||||||||||||||||
| Provision for losses and LAE | 118,720 | 59,684 | 2,262 | 180,666 | 90,213 | 105 | 2,946 | 93,264 | ||||||||||||||||||||||||
| Compensation and benefits | 46,651 | 5,668 | 46,035 | 98,354 | 49,665 | 3,586 | 46,336 | 99,587 | ||||||||||||||||||||||||
| Premium and other taxes | 17,981 | 44 | 1,442 | 19,467 | 17,558 | 35 | 1,735 | 19,328 | ||||||||||||||||||||||||
| Acquisition costs, net (3) | (23,142 | ) | 38,382 | — | 15,240 | (20,257 | ) | 1,129 | — | (19,128 | ) | |||||||||||||||||||||
| Other underwriting and operating expenses | 32,272 | 2,916 | 63,482 | 98,670 | 29,868 | 2,658 | 61,074 | 93,600 | ||||||||||||||||||||||||
| Net operating expenses before allocations | 73,762 | 47,010 | 110,959 | 231,731 | 76,834 | 7,408 | 109,145 | 193,387 | ||||||||||||||||||||||||
| Corporate expense allocations | 27,645 | 1,962 | (29,607 | ) | — | 28,864 | 975 | (29,839 | ) | — | ||||||||||||||||||||||
| Operating expenses after allocations | 101,407 | 48,972 | 81,352 | 231,731 | 105,698 | 8,383 | 79,306 | 193,387 | ||||||||||||||||||||||||
| Interest expense | — | — | 24,458 | 24,458 | — | — | 24,547 | 24,547 | ||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 588,044 | $ | 50,123 | $ | (2,081 | ) | $ | 636,086 | $ | 598,422 | $ | 59,236 | $ | (20,325 | ) | $ | 637,333 | ||||||||||||||
| Loss ratio (1) | 18.5 | % | 43.6 | % | 13.8 | % | 0.2 | % | ||||||||||||||||||||||||
| Expense ratio (2) | 15.8 | % | 35.7 | % | 16.2 | % | 18.3 | % | ||||||||||||||||||||||||
| Combined ratio | 34.3 | % | 79.3 | % | 30.0 | % | 18.5 | % | ||||||||||||||||||||||||
| (1) Loss ratio is calculated by dividing the provision for losses and LAE by net premiums earned. | ||||||||||||||||||||||||||||||||
| (2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. | ||||||||||||||||||||||||||||||||
| (3) Acquisition costs are net of ceding commissions earned on outward reinsurance and include ceding commissions incurred on reinsurance assumed. | ||||||||||||||||||||||||||||||||
| Exhibit E | ||||||||||||||||||||
| Essent Group Ltd. and Subsidiaries | ||||||||||||||||||||
| Supplemental Information | ||||||||||||||||||||
| Historical Quarterly Segment Information | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| Mortgage Insurance | ||||||||||||||||||||
| 2026 | 2025 | |||||||||||||||||||
| September 30 | June 30 | March 31 | December 31 | September 30 | ||||||||||||||||
| ($ in thousands) | ||||||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Net premiums earned | $ | 210,958 | $ | 215,662 | $ | 215,663 | $ | 212,674 | $ | 215,683 | ||||||||||
| Net investment income | 46,218 | 43,965 | 42,357 | 43,627 | 44,265 | |||||||||||||||
| Realized investment gains (losses), net | (1,611 | ) | (94 | ) | (188 | ) | (218 | ) | (427 | ) | ||||||||||
| Income (loss) from other invested assets | 5,953 | 12,975 | 5,762 | 2,044 | (605 | ) | ||||||||||||||
| Other income | 7,412 | 1,396 | 1,743 | 1,149 | 800 | |||||||||||||||
| Total revenues | 268,930 | 273,904 | 265,337 | 259,276 | 259,716 | |||||||||||||||
| Losses and expenses: | ||||||||||||||||||||
| Provision for losses and LAE | 51,709 | 29,391 | 37,620 | 55,160 | 44,170 | |||||||||||||||
| Compensation and benefits | 15,136 | 14,898 | 16,617 | 14,727 | 15,388 | |||||||||||||||
| Premium and other taxes | 5,993 | 5,996 | 5,992 | 6,038 | 6,010 | |||||||||||||||
| Acquisition costs, net (3) | (7,994 | ) | (7,770 | ) | (7,378 | ) | (7,234 | ) | (7,057 | ) | ||||||||||
| Other underwriting and operating expenses | 10,743 | 10,695 | 10,834 | 11,523 | 9,735 | |||||||||||||||
| Net operating expenses before allocations | 23,878 | 23,819 | 26,065 | 25,054 | 24,076 | |||||||||||||||
| Corporate expense allocations | 8,017 | 8,086 | 11,542 | 9,213 | 7,081 | |||||||||||||||
| Operating expenses after allocations | 31,895 | 31,905 | 37,607 | 34,267 | 31,157 | |||||||||||||||
| Income before income taxes | $ | 185,326 | $ | 212,608 | $ | 190,110 | $ | 169,849 | $ | 184,389 | ||||||||||
| Loss ratio (1) | 24.5 | % | 13.6 | % | 17.4 | % | 25.9 | % | 20.5 | % | ||||||||||
| Expense ratio (2) | 15.1 | % | 14.8 | % | 17.4 | % | 16.1 | % | 14.4 | % | ||||||||||
| Combined ratio | 39.6 | % | 28.4 | % | 34.8 | % | 42.0 | % | 34.9 | % | ||||||||||
| (1) Loss ratio is calculated by dividing the provision for losses and LAE by net premiums earned. | ||||||||||||||||||||
| (2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. | ||||||||||||||||||||
| (3) Acquisition costs are net of ceding commissions earned on outward reinsurance and include ceding commissions incurred on reinsurance assumed. | ||||||||||||||||||||
| Exhibit E, continued | ||||||||||||||||||||
| Essent Group Ltd. and Subsidiaries | ||||||||||||||||||||
| Supplemental Information | ||||||||||||||||||||
| Historical Quarterly Segment Information (Unaudited) | ||||||||||||||||||||
| Reinsurance | ||||||||||||||||||||
| 2026 | 2025 | |||||||||||||||||||
| September 30 | June 30 | March 31 | December 31 | September 30 | ||||||||||||||||
| ($ in thousands) | ||||||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Net premiums earned | $ | 64,044 | $ | 43,639 | $ | 29,310 | $ | 14,696 | $ | 16,304 | ||||||||||
| Net investment income | 5,541 | 6,088 | 4,670 | 4,913 | 5,302 | |||||||||||||||
| Realized investment gains, net | — | — | — | 6 | — | |||||||||||||||
| Other income | 2,171 | 1,345 | 1,971 | 2,255 | 1,591 | |||||||||||||||
| Total revenues | 71,756 | 51,072 | 35,951 | 21,870 | 23,197 | |||||||||||||||
| Losses and expenses: | ||||||||||||||||||||
| Provision for losses and LAE | 31,032 | 18,723 | 9,929 | 206 | 65 | |||||||||||||||
| Compensation and benefits | 1,702 | 1,781 | 2,185 | 961 | 1,180 | |||||||||||||||
| Premium and other taxes | 12 | 14 | 18 | 17 | 8 | |||||||||||||||
| Acquisition costs, net (3) | 19,791 | 11,849 | 6,742 | 763 | 487 | |||||||||||||||
| Other underwriting and operating expenses | 949 | 987 | 980 | 996 | 890 | |||||||||||||||
| Net operating expenses before allocations | 22,454 | 14,631 | 9,925 | 2,737 | 2,565 | |||||||||||||||
| Corporate expense allocations | 758 | 653 | 551 | 516 | 502 | |||||||||||||||
| Operating expenses after allocations | 23,212 | 15,284 | 10,476 | 3,253 | 3,067 | |||||||||||||||
| Income before income taxes | $ | 17,512 | $ | 17,065 | $ | 15,546 | $ | 18,411 | $ | 20,065 | ||||||||||
| Loss ratio (1) | 48.5 | % | 42.9 | % | 33.9 | % | 1.4 | % | 0.4 | % | ||||||||||
| Expense ratio (2) | 36.2 | % | 35.0 | % | 35.7 | % | 22.1 | % | 18.8 | % | ||||||||||
| Combined ratio | 84.7 | % | 77.9 | % | 69.6 | % | 23.5 | % | 19.2 | % | ||||||||||
| (1) Loss ratio is calculated by dividing the provision for losses and LAE by net premiums earned. | ||||||||||||||||||||
| (2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. | ||||||||||||||||||||
| (3) Acquisition costs are net of ceding commissions earned on outward reinsurance and include ceding commissions incurred on reinsurance assumed. | ||||||||||||||||||||