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Jun 30, 2020
Essent Q2 2020 Earnings Report
Essent's financial performance was impacted by the COVID-19 pandemic on its insured portfolio.
Key Takeaways
Essent Group Ltd. reported a net income of $15.4 million, or $0.15 per diluted share, for the quarter ended June 30, 2020. The results reflect the initial impact of the COVID-19 pandemic on the insured portfolio.
Insurance in force as of June 30, 2020 was $174.6 billion.
New insurance written for the second quarter was $28.2 billion.
Net premiums earned for the second quarter were $211.5 million.
The expense ratio for the second quarter was 18.4%.
Forward Guidance
The company did not provide specific forward guidance but expressed caution regarding the timing and shape of an economic recovery.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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