EX-99.1 2 a93024financialsupplement.htm EX-99.1 Document

展示稿99.1

Essent集團有限公司宣佈2024年第三季度業績,並宣佈季度股息
百慕大,漢密爾頓--(商業新聞)--2024年11月1日--Essent Group Ltd.(紐約證券交易所股票代碼:ESNT)今日報告了截至2024年9月30日的季度淨利潤爲17620萬美元,每股攤薄收益爲1.65美元,相比於截至2023年9月30日的季度淨利潤17800萬美元,每股攤薄收益爲1.66美元。
Essent今天還宣佈,其董事會已宣佈每股普通股支付0.28美元的季度現金股息。股息將於2024年12月11日支付給2024年12月2日股東名冊上的股東。

「我們對第三季度的財務業績感到滿意,因爲我們繼續產生高質量收入,」董事長兼首席執行官馬克·A·卡薩萊表示。「我們的業績繼續受益於利率期貨對續存率的影響以及投資組合的增長。本季度的業績表明我們的運營模式的強大之處,在產生強有力回報和增長每股淨資產價值方面得到體現。」
(單位:千美元,除每股數據外)
2024年第三季度的新保險簽單額爲125億美元,與2024年第二季度和2023年第三季度持平。

2024年9月30日的保險在冊額爲2430億美元,而2024年6月30日爲2407億美元,2013年9月30日爲2387億美元。

2024年9月30日止九個月的淨投資收入爲16550萬美元,比2023年同期增長22%。

Essent在9月關閉了其第10筆交易th 貝斯特關閉了其抵押保險掛鉤票據交易Radnor Re 2024-1,該交易爲2023年7月至2024年7月之間新保險寫入提供36300萬美元的再保險覆蓋。


電話會議:
今天上午10點,Essent 管理層將舉行電話會議,討論其業績。該電話會議將通過互聯網實時直播。 http://ir.essentgroup.com/events-and-presentations/events/default.aspx用戶還可以通過撥打888-330-2384(美國內)或240-789-2701(國際用戶)的方式,使用密碼9824537 或提及Essent。

網絡視頻回放將在直播結束後約兩小時內在Essent網站上提供,有效期爲一年。電話會議回放將在通話結束後約兩小時內提供,有效期爲兩週,使用以下撥入號碼和訪問碼:美國境內撥打800-770-2030,國際撥打647-362-9199,訪問碼9824537。
除了在公司盈利新聞發佈中提供的信息外,在電話會議期間可能提到的其他統計和財務信息將在Essent的網站上提供。 http://ir.essentgroup.com/financials/quarterly-results/default.aspx.
前瞻性聲明:
本新聞稿可能包含「前瞻性聲明」,這些聲明受已知和未知風險和不確定因素的影響,其中許多可能超出我們的控制範圍。通常情況下,前瞻性聲明可通過使用前瞻性術語識別,例如「可能」、「將」、「應該」、「預計」、「計劃」、「預期」、「相信」、「估計」、「預測」或「潛在」或其否定形式或變體或類似術語。由於各種已知和未知的風險、不確定因素和其他因素,實際事件、結果和成果可能與我們的預期有重大差異。儘管不可能識別所有這些風險和因素,但它們包括但不限於以下內容:對房利美和房地美(「政府支持實體」)進行的變更,無論是通過聯邦立法、重組還是業務實踐的轉變;未能繼續滿足政府支持實體的抵押保險資格要求;競爭對手爭奪客戶或重要客戶的流失;貸款人或投資者尋求與私人抵押保險替代方案;通過聯邦政府抵押保險計劃投保貸款數量增加;低頭期抵押貸款發放量下降;損失準備金估計的不確定性;我方保險政策有效期縮短;經濟狀況惡化;以及在我們於2024年2月16日向證券交易委員會提交的2023年12月31日止年度報告第I部分第1A條「風險因素」中描述的其他風險和因素。此處提供的任何前瞻性信息僅截至本新聞稿日期,我們不承擔對前瞻性信息進行更新或修訂以反映假設變化、意外事件發生或其他情況的任何義務。










關於公司:
Essent Group Ltd.(紐交所:ESNT)是總部位於百慕大的控股公司(與其子公司集體稱爲「 Essent」),提供私人抵押保險、再保險、以及房地產保險和結算服務,以服務住房金融行業。關於Essent的更多信息,請訪問 www.essentgroup.com。

來源:Essent Group Ltd.

媒體聯繫人
610.230.0556
media@essentgroup.com

投資者關係聯繫人
菲利普·斯特凡諾
投資者關係副總裁
855-809-ESNT
ir@essentgroup.com



Essent Group Ltd.及其子公司
財務結果和補充信息(未經審計)
2024年9月30日季度結束
附錄 A未經審計的簡化合並綜合收益表
附件B彙編的資產負債表(未經審計)
展覽 C合併歷史季度數據
展品D美國抵押保險組合歷史季度數據
附件E美國抵押保險組合新保險額
附件F美國抵押保險組合保險在力和風險在力
附件G其他在保風險
附件H美國抵押保險投保組合年份數據
附件I美國抵押保險投保組合再保險年份數據
J展品美國抵押保險投保組合地理數據
K展品呆賬和損失準備金和賠付費用的結轉 - 美國抵押保險投資組合
L展品按逾期違約分類的準備金明細 - 美國抵押保險投資組合
M展品可供出售的投資
附件 N美國抵押保險公司資本
附件 O非通用會計原則財務指標的比率和調和




附錄 A
Essent集團有限公司及其子公司
未經審計的簡化合並綜合收益表
截至9月30日的三個月截至9月30日的九個月
2024年4月27日2024202320242023
營收:
實收保費$277,754 $270,868 $819,595 $759,526 
溢保費(34,789)(30,294)(92,524)(103,431)
淨保險費242,965 240,574 727,071 656,095 
未賺取保險費減少5,971 6,231 19,346 15,197 
淨保費收入248,936 246,805 746,417 671,292 
淨投資收益57,340 47,072 165,511 135,558 
已實現投資收益(損失),淨額68 (235)(2,236)(2,312)
其他投資資產的收入(損失)2,820 (3,143)486 (10,697)
其他收入7,414 5,609 17,699 18,641 
總收入316,578 296,108 927,877 812,482 
損失和費用:
淨損失和人身保險賠款準備30,666 10,822 40,245 11,902 
其他承保和營業費用57,259 54,814 170,595 145,183 
代理人保留的保費9,622 13,175 29,328 13,175 
利息支出11,457 7,854 27,168 22,184 
總損失和費用109,004 86,665 267,336 192,444 
稅前收入207,574 209,443 660,541 620,038 
所得稅費用31,399 31,484 99,038 99,019 
淨收入$176,175 $177,959 $561,503 $521,019 
每股收益:
基本$1.67 $1.68 $5.32 $4.90 
稀釋1.65 1.66 5.26 4.86 
加權平均股數:
基本105,266 105,979 105,539 106,387 
稀釋106,554 107,025 106,700 107,232 
淨收入$176,175 $177,959 $561,503 $521,019 
其他綜合收益(損失):
投資未實現升值(折舊)的變動117,358 (76,248)90,217 (53,593)
其他綜合收益(損失)總額117,358 (76,248)90,217 (53,593)
綜合收益$293,533 $101,711 $651,720 $467,426 



Exhibit B
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
September 30,December 31,
(In thousands, except per share amounts)20242023
Assets
Investments
Fixed maturities available for sale, at fair value$4,919,868 $4,335,008 
Short-term investments available for sale, at fair value1,030,631 928,731 
Total investments available for sale5,950,499 5,263,739 
Other invested assets294,931 277,226 
Total investments6,245,430 5,540,965 
Cash109,306 141,787 
Accrued investment income40,453 35,689 
Accounts receivable54,394 63,266 
Deferred policy acquisition costs9,491 9,139 
Property and equipment41,221 41,304 
Prepaid federal income tax494,356 470,646 
Goodwill and acquired intangible assets, net69,907 72,826 
Other assets61,981 51,051 
Total assets$7,126,539 $6,426,673 
Liabilities and Stockholders' Equity
Liabilities
Reserve for losses and LAE$288,316 $260,095 
Unearned premium reserve120,939 140,285 
Net deferred tax liability410,761 362,753 
Senior notes due 2029, net493,673 — 
Credit facility borrowings, net — 421,920 
Other accrued liabilities171,865 139,070 
Total liabilities1,485,554 1,324,123 
Commitments and contingencies
Stockholders' Equity
Common shares, $0.015 par value:
Authorized - 233,333; issued and outstanding - 106,204 shares in 2024 and 106,597 shares in 20231,593 1,599 
Additional paid-in capital1,276,572 1,299,869 
Accumulated other comprehensive loss(190,279)(280,496)
Retained earnings4,553,099 4,081,578 
Total stockholders' equity 5,640,985 5,102,550 
Total liabilities and stockholders' equity$7,126,539 $6,426,673 
Return on average equity (1)13.9 %14.6 %
(1) The 2024 return on average equity is calculated by dividing annualized year-to-date 2024 net income by average equity. The 2023 return on average equity is calculated by dividing full year 2023 net income by average equity.




Exhibit C
Essent Group Ltd. and Subsidiaries
Supplemental Information
Consolidated Historical Quarterly Data
20242023
Selected Income Statement DataSeptember 30June 30March 31December 31September 30
(In thousands, except per share amounts)
Revenues:
Net premiums earned:
U.S. Mortgage Insurance Portfolio$214,119 $217,513 $212,479 $211,083 $209,351 
GSE and other risk share17,130 17,745 17,826 17,166 16,850 
Title insurance17,687 16,633 15,285 17,365 20,604 
Net premiums earned248,936 251,891 245,590 245,614 246,805 
Net investment income57,340 56,086 52,085 50,581 47,072 
Realized investment gains (losses), net68 (1,164)(1,140)(4,892)(235)
Income (loss) from other invested assets2,820 (419)(1,915)(421)(3,143)
Other income (1)
7,414 6,548 3,737 6,395 5,609 
Total revenues316,578 312,942 298,357 297,277 296,108 
Losses and expenses:
Provision (benefit) for losses and LAE30,666 (334)9,913 19,640 10,822 
Other underwriting and operating expenses57,259 55,987 57,349 55,248 54,814 
Premiums retained by agents9,622 10,215 9,491 11,475 13,175 
Interest expense11,457 7,849 7,862 7,953 7,854 
Total losses and expenses109,004 73,717 84,615 94,316 86,665 
Income before income taxes207,574 239,225 213,742 202,961 209,443 
Income tax expense (2)
31,399 35,616 32,023 27,594 31,484 
Net income$176,175 $203,609 $181,719 $175,367 $177,959 
Earnings per share:
   Basic$1.67 $1.93 $1.72 $1.66 $1.68 
   Diluted1.65 1.91 1.70 1.64 1.66 
Weighted average shares outstanding:
   Basic105,266 105,657 105,697 105,733 105,979 
   Diluted106,554 106,778 106,770 106,823 107,025 
Book value per share$53.11 $50.58 $48.96 $47.87 $44.98 
Return on average equity (annualized)12.8 %15.4 %14.1 %14.2 %14.9 %
Borrowings outstanding$500,000 $425,000 $425,000 $425,000 $425,000 
Undrawn committed capacity$500,000 $400,000 $400,000 $400,000 $400,000 
Weighted average interest rate (end of period)
6.25 %7.07 %7.06 %7.11 %7.07 %
Debt-to-capital8.14 %7.32 %7.52 %7.69 %8.12 %
(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, 2024, June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023, were ($1,173), $732, ($1,902), $412, and ($898), respectively.
(2) Income tax expense for the quarters ended September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023 includes $475, $556, ($1,041), ($1,132), and ($763), respectively, of discrete tax expense (benefit) associated with realized and unrealized gains and losses. Income tax expense for the quarter ended March 31, 2024 also includes ($616) of excess tax benefits associated with the vesting of common shares and common share units. Income tax expense for the quarter ended December 31, 2023 also includes a $2,731 net benefit associated with the recognition of a deferred tax asset for unrealized losses on the investment portfolios of Essent Group and Essent Re upon the enactment of the Bermuda Corporate Income Tax.



Exhibit D
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Historical Quarterly Data
20242023
Other Data:September 30June 30March 31December 31September 30
($ in thousands)
U.S. Mortgage Insurance Portfolio
New insurance written$12,513,695 $12,503,125 $8,323,544 $8,769,160 $12,505,823 
New risk written3,437,465 3,449,623 2,289,508 2,409,340 3,458,467 
Average insurance in force$242,065,632 $239,538,571 $238,595,268 $239,005,961 $237,270,093 
Insurance in force (end of period)$242,976,043 $240,669,165 $238,477,402 $239,078,262 $238,661,612 
Gross risk in force (end of period) (1)
$66,237,992 $65,269,064 $64,247,810 $64,061,374 $63,605,057 
Risk in force (end of period)$55,915,640 $55,521,538 $54,686,533 $54,591,590 $53,920,308 
Policies in force815,507 814,237 815,752 822,012 825,248 
Weighted average coverage (2)
27.3 %27.1 %26.9 %26.8 %26.7 %
Annual persistency86.6 %86.7 %86.9 %86.9 %86.6 %
Loans in default (count)15,906 13,954 13,992 14,819 13,391 
Percentage of loans in default1.95 %1.71 %1.72 %1.80 %1.62 %
U.S. Mortgage Insurance Portfolio premium rate:
   Base average premium rate (3)
0.41 %0.41 %0.41 %0.40 %0.40 %
   Single premium cancellations (4)
— %— %— %— %— %
  Gross average premium rate0.41 %0.41 %0.41 %0.40 %0.40 %
  Ceded premiums(0.06 %)(0.05 %)(0.05 %)(0.05 %)(0.05 %)
    Net average premium rate0.35 %0.36 %0.36 %0.35 %0.35 %
(1) Gross risk in force includes risk ceded under third-party reinsurance.
(2) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force.
(3) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period.
(4) Single premium cancellations is calculated by dividing annualized premiums on the cancellation of non-refundable single premium policies by average insurance in force for the period.




Exhibit E
Essent Group Ltd. and Subsidiaries
Supplemental Information - U.S. Mortgage Insurance Portfolio
New Insurance Written: Flow
NIW by Credit Score
Three Months EndedNine Months Ended
September 30, 2024September 30, 2023September 30, 2024September 30, 2023
($ in thousands)
>=760$5,339,574 42.7 %$5,212,343 41.8 %$14,387,356 43.2 %$15,473,191 39.8 %
740-7592,141,817 17.1 2,205,066 17.6 5,717,289 17.1 7,031,821 18.1 
720-7391,764,319 14.1 1,911,320 15.3 4,828,718 14.5 6,310,564 16.2 
700-7191,622,450 13.0 1,867,510 14.9 4,348,047 13.0 5,892,704 15.1 
680-699918,116 7.3 891,471 7.1 2,351,589 7.1 3,024,347 7.8 
<=679727,419 5.8 418,113 3.3 1,707,365 5.1 1,165,065 3.0 
Total$12,513,695 100.0 %$12,505,823 100.0 %$33,340,364 100.0 %$38,897,692 100.0 %
Weighted average credit score747 747 747 746 
NIW by LTV
Three Months EndedNine Months Ended
September 30, 2024September 30, 2023September 30, 2024September 30, 2023
($ in thousands)
85.00% and below$836,186 6.7 %$849,250 6.7 %$2,250,434 6.7 %$2,801,011 7.2 %
85.01% to 90.00%2,415,504 19.3 2,445,924 19.6 6,571,300 19.7 7,951,062 20.4 
90.01% to 95.00%6,616,174 52.9 6,614,050 52.9 18,008,682 54.0 21,383,696 55.0 
95.01% and above2,645,831 21.1 2,596,599 20.8 6,509,948 19.6 6,761,923 17.4 
Total$12,513,695 100.0 %$12,505,823 100.0 %$33,340,364 100.0 %$38,897,692 100.0 %
Weighted average LTV93 %93 %93 %93 %
NIW by Product
Three Months EndedNine Months Ended
September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Single Premium policies1.4 %2.8 %1.5 %3.8 %
Monthly Premium policies98.6 97.2 98.5 96.2 
100.0 %100.0 %100.0 %100.0 %
NIW by Purchase vs. Refinance
Three Months EndedNine Months Ended
September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Purchase97.0 %99.0 %97.4 %98.8 %
Refinance3.0 1.0 2.6 1.2 
100.0 %100.0 %100.0 %100.0 %



Exhibit F
Essent Group Ltd. and Subsidiaries
Supplemental Information
Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio
Portfolio by Credit Score
IIF by FICO scoreSeptember 30, 2024June 30, 2024September 30, 2023
($ in thousands)
>=760$98,553,455 40.6 %$97,668,435 40.6 %$97,027,348 40.7 %
740-75942,377,559 17.4 41,915,598 17.4 41,362,480 17.3 
720-73937,947,254 15.6 37,678,804 15.7 37,297,809 15.6 
700-71932,685,044 13.5 32,331,564 13.4 31,674,346 13.3 
680-69919,890,335 8.2 19,751,956 8.2 19,850,176 8.3 
<=67911,522,396 4.7 11,322,808 4.7 11,449,453 4.8 
Total$242,976,043 100.0 %$240,669,165 100.0 %$238,661,612 100.0 %
Weighted average credit score746 746 746 
Gross RIF by FICO scoreSeptember 30, 2024June 30, 2024September 30, 2023
($ in thousands)
>=760$26,614,399 40.2 %$26,238,140 40.2 %$25,594,262 40.1 %
740-75911,715,485 17.7 11,525,987 17.7 11,165,727 17.6 
720-73910,485,311 15.8 10,362,021 15.9 10,090,889 15.9 
700-7199,044,551 13.7 8,899,342 13.6 8,568,811 13.5 
680-6995,451,406 8.2 5,382,312 8.2 5,327,434 8.4 
<=6792,926,840 4.4 2,861,262 4.4 2,857,934 4.5 
Total$66,237,992 100.0 %$65,269,064 100.0 %$63,605,057 100.0 %
Portfolio by LTV
IIF by LTVSeptember 30, 2024June 30, 2024September 30, 2023
($ in thousands)
85.00% and below$15,555,555 6.4 %$16,927,111 7.0 %$21,226,685 8.9 %
85.01% to 90.00%61,262,960 25.2 61,774,991 25.7 63,374,562 26.6 
90.01% to 95.00%125,919,529 51.8 123,414,332 51.3 118,461,030 49.6 
95.01% and above40,237,999 16.6 38,552,731 16.0 35,599,335 14.9 
Total$242,976,043 100.0 %$240,669,165 100.0 %$238,661,612 100.0 %
Weighted average LTV93 %93 %93 %
Gross RIF by LTVSeptember 30, 2024June 30, 2024September 30, 2023
($ in thousands)
85.00% and below$1,845,584 2.8 %$2,010,864 3.1 %$2,525,753 4.0 %
85.01% to 90.00%15,120,025 22.8 15,238,201 23.3 15,566,095 24.5 
90.01% to 95.00%37,149,222 56.1 36,405,573 55.8 34,848,762 54.8 
95.01% and above12,123,161 18.3 11,614,426 17.8 10,664,447 16.7 
Total$66,237,992 100.0 %$65,269,064 100.0 %$63,605,057 100.0 %
Portfolio by Loan Amortization Period
IIF by Loan Amortization PeriodSeptember 30, 2024June 30, 2024September 30, 2023
($ in thousands)
FRM 30 years and higher$237,628,900 97.8 %$235,138,420 97.7 %$232,186,999 97.3 %
FRM 20-25 years1,199,947 0.5 1,322,021 0.5 1,910,610 0.8 
FRM 15 years1,191,749 0.5 1,276,780 0.5 1,719,467 0.7 
ARM 5 years and higher2,955,447 1.2 2,931,944 1.3 2,844,536 1.2 
Total$242,976,043 100.0 %$240,669,165 100.0 %$238,661,612 100.0 %



Exhibit G
Essent Group Ltd. and Subsidiaries
Supplemental Information
Other Risk in Force
20242023
($ in thousands)September 30June 30March 31December 31September 30
GSE and other risk share (1):
Risk in Force$2,254,726 $2,304,885 $2,307,267 $2,244,944 $2,247,393 
Reserve for losses and LAE$37 $33 $32 $29 $54 
Weighted average credit score750 750 750 749 749 
Weighted average LTV82 %82 %82 %82 %82 %
(1) GSE and other risk share includes GSE risk share and other reinsurance transactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae.





Exhibit H
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Vintage Data
September 30, 2024
Insurance in Force
YearOriginal
Insurance
Written
($ in thousands)
Remaining
Insurance
in Force
($ in thousands)
% Remaining of Original
Insurance
Number of Policies in ForceWeighted Average Coupon% Purchase>90% LTV>95% LTVFICO < 700FICO >= 760Incurred Loss Ratio (Inception to Date) (1)Number of Loans in DefaultPercentage of Loans in Default
2010 - 2014$60,668,851 $1,010,190 1.7 %5,566 4.28 %66.0 %49.5 %1.1 %10.1 %49.3 %2.4 %248 4.46 %
201526,193,656 870,740 3.3 5,028 4.2976.8 60.9 5.7 18.1 40.0 2.2 235 4.67 
201634,949,319 2,357,912 6.7 14,050 3.9386.4 78.0 13.7 16.4 41.3 2.1 450 3.20 
201743,858,322 3,784,941 8.6 23,293 4.3090.8 80.4 23.8 21.4 36.4 3.1 1,037 4.45 
201847,508,525 4,857,991 10.2 27,818 4.8095.1 74.0 27.1 21.9 32.3 4.2 1,314 4.72 
201963,569,183 10,717,480 16.9 52,219 4.2489.1 71.7 25.7 18.9 35.1 3.7 1,687 3.23 
2020107,944,065 37,929,239 35.1 150,176 3.2072.1 62.5 14.6 10.8 45.5 2.8 2,452 1.63 
202184,218,250 53,029,350 63.0 177,048 3.1089.0 66.1 16.6 13.8 40.4 6.1 3,420 1.93 
202263,061,262 53,154,263 84.3 153,151 5.0998.1 66.0 11.4 12.6 39.6 17.4 3,091 2.02 
202347,666,852 43,012,414 90.2 121,053 6.6498.8 72.8 18.6 11.0 38.7 18.1 1,732 1.43 
2024 (through September 30)33,340,364 32,251,523 96.7 86,105 6.8497.4 73.8 20.0 12.4 42.4 10.1 240 0.28 
Total$612,978,649 $242,976,043 39.6 815,507 4.7991.2 68.4 16.6 12.9 40.6 4.6 15,906 1.95 
(1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned.




Exhibit I
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data
September 30, 2024
($ in thousands)
Insurance Linked Notes (1)
Earned Premiums Ceded
Deal NameVintageRemaining
Insurance
in Force
Remaining
Risk
in Force
Original
Reinsurance in Force
Remaining
Reinsurance in Force
Losses
Ceded
to Date
Original
First Layer
Retention
Remaining
First Layer
Retention
Quarter-to-Date Year-to-DateReduction in PMIERs Minimum Required
Assets (3)
Radnor Re 2021-1Aug. 2020 - Mar. 2021$25,750,186 $6,963,249 $557,911 $220,532 $— $278,956 $277,985 $2,091 $6,564 $160,822 
Radnor Re 2021-2Apr. 2021 - Sep. 202131,287,234 8,616,211 439,407 286,439 — 279,415 277,195 3,715 10,952 215,335 
Radnor Re 2022-1Oct. 2021 - Jul. 202228,815,017 7,856,567 237,868 191,938 — 303,761 301,278 3,825 11,478 176,583 
Radnor Re 2023-1Aug. 2022 - Jun. 202328,989,426 7,941,539 281,462 281,462 — 281,463 281,089 3,705 10,657 266,826 
Radnor Re 2024-1Jul. 2023 - Jul. 202430,359,933 8,387,056 363,366 363,366 — 256,495 256,495 472 472 363,366 
Total$145,201,796 $39,764,622 $1,880,014 $1,343,737 $— $1,400,090 $1,394,042 $13,808 $40,123 (5)$1,182,932 
Excess of Loss Reinsurance (2)
Earned Premiums Ceded
Deal NameVintageRemaining
Insurance
in Force
Remaining
Risk
in Force
Original
Reinsurance in Force
Remaining
Reinsurance in Force
Losses
Ceded
to Date
Original
First Layer
Retention
Remaining
First Layer
Retention
Quarter-to-Date Year-to-DateReduction in PMIERs Minimum Required
Assets (3)
XOL 2019-1Jan. 2018 - Dec. 2018$4,811,623 $1,266,631 $118,650 $76,144 $— $253,643 $244,294 $641 $1,868 $— 
XOL 2020-1Jan. 2019 - Aug. 20196,026,073 1,591,126 55,102 30,592 — 215,605 212,208 263 809 — 
XOL 2022-1Oct. 2021 - Dec. 202265,149,106 17,727,315 141,992 141,992 — 507,114 500,886 1,611 4,797 138,001 
XOL 2023-1Jan. 2023 - Dec. 202338,402,550 10,637,649 36,627 36,627 — 366,270 366,141 439 1,306 35,232 
XOL 2024-1Jan. 2024 - Dec. 202432,177,995 8,864,366 46,537 46,537 — 265,931 265,931 528 528 44,765 
Total$146,567,347 $40,087,087 $398,908 $331,892 $— $1,608,563 $1,589,460 $3,482 $9,308 $217,998 
Quota Share Reinsurance (2)
Losses CededCeding CommissionEarned Premiums Ceded
YearCeding PercentageRemaining
Insurance
in Force
Remaining
Risk
in Force
Remaining Ceded Insurance in ForceRemaining Ceded Risk in ForceQuarter-to-DateYear-to-DateQuarter-to-DateYear-to-DateQuarter-to-DateYear-to-DateReduction in PMIERs Minimum Required
Assets (3)
Sep. 2019 - Dec. 2020(4)$42,414,942 $11,536,848 $9,585,777 $2,572,717 $645 $(146)$2,719 $7,364 $4,646 $12,450 $141,312 
Jan. 2022 - Dec. 202220%53,084,698 14,433,907 10,616,940 2,886,781 2,261 3,516 1,850 5,634 5,776 14,221 212,195 
Jan. 2023 - Dec. 202317.5%38,282,838 10,608,139 6,699,497 1,856,424 2,031 4,492 1,330 4,045 4,825 12,987 143,807 
Jan. 2024 - Dec. 202415%32,205,363 8,872,008 4,830,804 1,330,801 557 717 793 1,302 2,263 3,515 94,807 
Total$165,987,841 $45,450,902 $31,733,018 $8,646,723 $5,494 $8,579 $6,692 $18,345 $17,510 $43,173 $592,121 
(1) Reinsurance provided by unaffiliated special purpose insurers through the issuance of mortgage insurance-linked notes ("ILNs").
(2) Reinsurance provided by panels of reinsurers.
(3) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assets based on our interpretation of the PMIERs.
(4) Reinsurance coverage on 40% of eligible single premium policies and 20% of all other eligible policies.
(5) Excludes ($11) and ($80) of benefit in ceded premium on retired ILNs for the three and nine months ended September 30, 2024, respectively.



Exhibit J
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Geographic Data
IIF by State
September 30, 2024June 30, 2024September 30, 2023
CA12.5 %12.7 %13.0 %
FL11.8 11.6 11.0 
TX10.9 10.8 10.5 
CO4.1 4.1 4.1 
AZ3.8 3.8 3.7 
GA3.7 3.6 3.4 
WA3.4 3.4 3.4 
NC3.0 3.0 2.8 
OH2.6 2.6 2.6 
IL2.6 2.7 2.8 
All Others41.6 41.7 42.7 
Total100.0 %100.0 %100.0 %
Gross RIF by State
September 30, 2024June 30, 2024September 30, 2023
CA12.5 %12.6 %12.9 %
FL12.0 11.8 11.3 
TX11.2 11.1 10.8 
CO4.0 4.1 4.0 
AZ3.9 3.8 3.8 
GA3.8 3.7 3.5 
WA3.4 3.4 3.4 
NC3.0 3.0 2.9 
OH2.6 2.5 2.6 
IL2.5 2.6 2.8 
All Others41.1 41.4 42.0 
Total100.0 %100.0 %100.0 %




Exhibit K
Essent Group Ltd. and Subsidiaries
Supplemental Information
Rollforward of Defaults and Reserve for Losses and LAE
U.S. Mortgage Insurance Portfolio
Rollforward of Insured Loans in Default
Three Months Ended
20242023
September 30June 30March 31December 31September 30
Beginning default inventory13,954 13,992 14,819 13,391 12,480 
Plus: new defaults (A)
9,984 8,119 8,260 9,007 7,953 
Less: cures(7,819)(7,956)(8,951)(7,418)(6,902)
Less: claims paid(182)(183)(123)(148)(129)
Less: rescissions and denials, net(31)(18)(13)(13)(11)
Ending default inventory15,906 13,954 13,992 14,819 13,391 
(A) New defaults remaining as of September 30, 2024
7,189 3,198 1,665 1,309 806 
        Cure rate (1)
28 %61 %80 %85 %90 %
Total amount paid for claims (in thousands)$5,749 $5,566 $3,605 $3,411 $2,956 
Average amount paid per claim (in thousands)$32 $30 $29 $22 $23 
Severity58 %60 %65 %62 %66 %
Rollforward of Reserve for Losses and LAE
Three Months Ended
20242023
($ in thousands)September 30June 30March 31December 31September 30
Reserve for losses and LAE at beginning of period$246,107 $253,565 $245,402 $226,617 $216,888 
Less: Reinsurance recoverables26,022 26,570 24,005 20,656 17,958 
Net reserve for losses and LAE at beginning of period220,085 226,995 221,397 205,961 198,930 
Add provision for losses and LAE occurring in:
Current period51,649 30,653 39,396 38,922 35,609 
Prior years(21,836)(31,880)(30,062)(19,912)(25,533)
Incurred losses and LAE during the period29,813 (1,227)9,334 19,010 10,076 
Deduct payments for losses and LAE occurring in:
Current period637 478 330 156 
Prior years5,202 5,205 3,735 3,244 2,889 
Loss and LAE payments during the period5,839 5,683 3,736 3,574 3,045 
Net reserve for losses and LAE at end of period244,059 220,085 226,995 221,397 205,961 
Plus: Reinsurance recoverables30,867 26,022 26,570 24,005 20,656 
Reserve for losses and LAE at end of period$274,926 $246,107 $253,565 $245,402 $226,617 
(1) The cure rate is calculated by dividing new defaults remaining as of the reporting date by the original number of new defaults reported in the quarterly period and subtracting that percentage from 100%.



Exhibit L
Essent Group Ltd. and Subsidiaries
Supplemental Information
Detail of Reserves by Default Delinquency
U.S. Mortgage Insurance Portfolio
September 30, 2024
Number of
Policies in
Default
Percentage of
Policies in
Default
 Amount of Reserves Percentage of Reserves Defaulted RIF Reserves as a Percentage of
Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less8,293 52 %$53,849 21 %$627,505 %
Four to eleven payments5,498 35 104,223 41 437,515 24 
Twelve or more payments1,980 12 86,821 35 144,396 60 
Pending claims135 8,620 9,692 89 
Total case reserves15,906 100 %253,513 100 %$1,219,108 21 %
IBNR19,013 
LAE2,400 
Total reserves for losses and LAE$274,926 
Average reserve per default:
Case$15.9 
Total$17.3 
Default Rate1.95%
December 31, 2023
Number of
Policies in
Default
Percentage of
Policies in
Default
 Amount of ReservesPercentage of Reserves Defaulted RIFReserves as a Percentage of
Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less7,288 49 %$44,607 20 %$527,419 %
Four to eleven payments5,421 37 97,424 43 417,876 23 
Twelve or more payments1,984 13 78,540 35 132,257 59 
Pending claims126 5,550 6,302 88 
Total case reserves14,819 100 %226,121 100 %$1,083,854 21 %
IBNR16,959 
LAE2,322 
Total reserves for losses and LAE$245,402 
Average reserve per default:
Case$15.3 
Total$16.6 
Default Rate1.80%
September 30, 2023
Number of
Policies in
Default
Percentage of
Policies in
Default
 Amount of ReservesPercentage of Reserves Defaulted RIFReserves as a Percentage of
Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less6,383 48 %$38,412 18 %$448,039 %
Four to eleven payments4,877 36 87,025 42 369,711 24 
Twelve or more payments1,989 15 77,369 37 126,317 61 
Pending claims142 6,076 6,924 88 
Total case reserves13,391 100 %208,882 100 %$950,991 22 %
IBNR15,666 
LAE2,069 
Total reserves for losses and LAE$226,617 
Average reserve per default:
Case$15.6 
Total$16.9 
Default Rate1.62%





Exhibit M
Essent Group Ltd. and Subsidiaries
Supplemental Information
Investments Available for Sale
Investments Available for Sale by Asset Class
Asset ClassSeptember 30, 2024December 31, 2023
($ in thousands)Fair ValuePercentFair ValuePercent
U.S. Treasury securities$709,807 11.9 %$996,382 18.9 %
U.S. agency securities— — 7,195 0.1 
U.S. agency mortgage-backed securities1,051,308 17.7 821,346 15.6 
Municipal debt securities577,647 9.8 547,258 10.5 
Non-U.S. government securities72,971 1.2 67,447 1.3 
Corporate debt securities1,704,388 28.6 1,297,055 24.7 
Residential and commercial mortgage securities503,980 8.5 517,940 9.8 
Asset-backed securities548,076 9.2 564,995 10.7 
Money market funds782,322 13.1 444,121 8.4 
Total investments available for sale$5,950,499 100.0 %$5,263,739 100.0 %
Investments Available for Sale by Credit Rating
Rating (1)
September 30, 2024December 31, 2023
($ in thousands)Fair ValuePercentFair ValuePercent
Aaa$2,541,407 49.2 %$2,561,363 53.2 %
Aa1103,522 2.0 104,474 2.2 
Aa2286,304 5.5 291,501 6.0 
Aa3247,669 4.7 208,882 4.3 
A1510,486 9.9 377,188 7.8 
A2391,018 7.6 329,423 6.8 
A3424,218 8.2 253,081 5.3 
Baa1227,741 4.4 220,901 4.6 
Baa2200,539 3.9 226,449 4.7 
Baa3158,288 3.1 166,121 3.4 
Below Baa376,985 1.5 80,235 1.7 
Total (2)
$5,168,177 100.0 %$4,819,618 100.0 %
(1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available.
(2) Excludes $782,322 and $444,121 of money market funds at September 30, 2024 and December 31, 2023, respectively.
Investments Available for Sale by Duration and Book Yield
Effective DurationSeptember 30, 2024December 31, 2023
($ in thousands)Fair ValuePercentFair ValuePercent
< 1 Year$1,829,657 30.7 %$1,892,074 35.9 %
1 to < 2 Years501,569 8.4 371,583 7.1 
2 to < 3 Years506,047 8.5 538,775 10.2 
3 to < 4 Years499,816 8.4 402,668 7.6 
4 to < 5 Years417,500 7.0 376,722 7.2 
5 or more Years2,195,910 37.0 1,681,917 32.0 
Total investments available for sale$5,950,499 100.0 %$5,263,739 100.0 %
Pre-tax investment income yield:
Three months ended3.81 %
Nine months ended September 30, 20243.77 %
Holding company net cash and investments available for sale:
($ in thousands)
As of September 30, 2024$991,151 
As of December 31, 2023$693,507 



Exhibit N
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Company Capital
20242023
September 30June 30March 31December 31September 30
($ in thousands)
U.S. Mortgage Insurance Subsidiaries:
Combined statutory capital (1)
$3,584,580 $3,530,462 $3,453,553 $3,376,117 $3,309,522 
Combined net risk in force (2)
$34,893,957 $34,812,227 $34,463,082 $34,549,500 $34,203,678 
Risk-to-capital ratios: (3)
Essent Guaranty, Inc.10.0:110.2:110.3:110.6:110.7:1
Essent Guaranty of PA, Inc.0.3:10.3:10.4:10.4:10.5:1
Combined (4)
9.7:19.9:110.0:110.2:110.3:1
Essent Guaranty, Inc. PMIERs Data (5):
Available Assets$3,598,725 $3,513,609 $3,464,119 $3,379,936 $3,318,179 
Minimum Required Assets1,903,473 2,052,135 1,999,928 1,985,545 1,910,659 
PMIERs excess Available Assets$1,695,252 $1,461,474 $1,464,191 $1,394,391 $1,407,520 
PMIERs sufficiency ratio (6)
189 %171 %173 %170 %174 %
Essent Reinsurance Ltd.:
Stockholder's equity (GAAP basis)$1,826,901 $1,793,777 $1,793,005 $1,758,665 $1,684,122 
Net risk in force (2)
$23,003,846 $22,770,165 $22,271,316 $22,043,926 $21,739,419 
(1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc., after eliminating the impact of intercompany transactions. Statutory capital is computed based on accounting practices prescribed or permitted by the Pennsylvania Insurance Department and the National Association of Insurance Commissioners Accounting Practices and Procedures Manual.
(2) Net risk in force represents total risk in force, net of reinsurance ceded and net of exposures on policies for which loss reserves have been established.
(3) The risk-to-capital ratio is calculated as the ratio of net risk in force to statutory capital.
(4) The combined risk-to-capital ratio equals the sum of the net risk in force of Essent Guaranty, Inc. and Essent Guaranty of PA, Inc. divided by the combined statutory capital.
(5) Data is based on our interpretation of the PMIERs as of the dates indicated.
(6) PMIERs sufficiency ratio is calculated by dividing Available Assets by Minimum Required Assets.




Exhibit O
Essent Group Ltd. and Subsidiaries
Supplemental Information
Ratios and Reconciliation of Non-GAAP Financial Measures
20242023
September 30June 30March 31December 31September 30
Loss Ratio (1)12.2 %(0.1)%4.0 %7.9 %4.4 %
Expense Ratio (2)26.5 %26.1 %27.1 %27.0 %27.3 %
Combined Ratio38.7 %26.0 %31.1 %34.9 %31.7 %
Underwriting Margin (3)61.3 %74.0 %68.9 %65.1 %68.3 %
We believe that loss, expense and combined ratios are important measures of our financial performance. As a result of the July 1, 2023 acquisition of Agents National Title and Boston National Title (collectively "Title"), the consolidated loss, expense and combined ratios ("Consolidated Ratios") for the nine months ended September 30, 2024 lack comparability with periods prior to the acquisition. In order to provide investors with more comparative information to prior periods, Essent has prepared the table below to reconcile the Consolidated Ratios to ratios excluding Title, as shown below. Ratios excluding Title are financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (GAAP) and are referred to as non-GAAP measures. Ratios excluding Title are measures used to monitor our results and should not be viewed as a substitute for those measures determined in accordance with GAAP.

The following table sets forth the reconciliation of the loss, expense and combined ratios excluding Title to the most comparable GAAP amount for the three and nine months ended September 30, 2024 in accordance with Regulation G:
Three Months Ended
September 30, 2024
Nine Months Ended
September 30, 2024
ConsolidatedTitleExcluding TitleConsolidatedTitleExcluding Title
($ in thousands)
Revenues:
Net premiums earned$248,936 $17,687 $231,249 $746,417 $49,604 $696,813 
Net investment income57,340 809 56,531 165,511 2,365 163,146 
Realized investment gains (losses), net68 — 68 (2,236)— (2,236)
Income from other invested assets2,820 — 2,820 486 — 486 
Settlement services (4)
3,237 3,237 — 6,074 6,074 — 
Other income4,177 473 3,704 11,625 1,354 10,271 
Total revenues316,578 22,206 294,372 927,877 59,397 868,480 
Losses and expenses:
Provision for losses and LAE30,666 850 29,816 40,245 2,317 37,928 
Other underwriting and operating expenses (5)
57,259 14,845 42,414 170,595 39,564 131,031 
Premiums retained by agents9,622 9,622 — 29,328 29,328 — 
Interest expense11,457 — 11,457 27,168 — 27,168 
Total losses and expenses109,004 25,317 83,687 267,336 71,209 196,127 
Loss ratio (1)12.2 %4.1 %12.9 %5.3 %4.2 %5.4 %
Expense ratio (2)26.5 %116.9 %18.3 %26.6 %123.7 %18.8 %
Combined ratio38.7 %121.0 %31.2 %31.9 %127.9 %24.2 %
Underwriting Margin (3)61.3 %(21.0 %)68.8 %68.1 %(27.9 %)75.8 %
(1) Loss ratio is calculated by dividing the provision for losses and LAE by the sum of net premiums earned and settlement services revenue, if applicable.
(2) Expense ratio is calculated by dividing the sum of other underwriting and operating expenses and premiums retained by agents by the sum of net premiums earned and settlement services revenue, if applicable.
(3) Calculated as the inverse of the combined ratio.
(4) Settlement services revenue is included in "Other income" within Exhibit A and Exhibit C.
(5) Title expenses reflect only direct expenses of Title operations and do not include corporate or centralized support expense allocations.