Essent Q2 2024 Earnings Report
Key Takeaways
Essent Group Ltd. reported a net income of $203.6 million for the quarter ended June 30, 2024, compared to $172.2 million for the same quarter in 2023. The company's performance was driven by a high-quality portfolio and resilience in housing and labor markets, benefiting from favorable credit performance and the current rate environment.
Net income for Q2 2024 was $203.6 million, or $1.91 per diluted share, compared to $172.2 million, or $1.61 per diluted share in Q2 2023.
New insurance written for Q2 2024 was $12.5 billion, compared to $13.5 billion in Q2 2023.
Insurance in force as of June 30, 2024, was $240.7 billion, compared to $235.6 billion as of June 30, 2023.
Essent closed on its inaugural senior debt offering on July 1 and has over $1.3 billion in available holding company liquidity.
Essent
Essent
Essent Revenue by Segment
Forward Guidance
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income