•
Mar 31, 2021
Essent Q1 2021 Earnings Report
Essent's financial performance demonstrated a return to pre-COVID-19 profitability, driven by the U.S. economy's recovery and normalizing defaults.
Key Takeaways
Essent Group Ltd. reported a net income of $135.6 million for the quarter ended March 31, 2021, a decrease compared to $149.5 million for the same quarter in 2020. The company's Board of Directors authorized a $250 million share repurchase plan and declared a quarterly cash dividend of $0.17 per common share.
Insurance in force as of March 31, 2021, was $197.1 billion.
New insurance written for the first quarter was $19.3 billion.
Net premiums earned for the first quarter were $219.1 million.
The combined ratio for the first quarter was 34.0%.
Essent
Essent
Forward Guidance
Essent's management anticipates continued strong performance, driven by economic recovery and disciplined underwriting.