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Sep 30, 2022
Essent Q3 2022 Earnings Report
Reported strong earnings and robust returns due to focus on optimizing unit economics and favorable credit performance. Increased quarterly dividend to $0.23 per share.
Key Takeaways
Essent Group Ltd. reported a net income of $178.1 million for the quarter ended September 30, 2022, a decrease compared to $205.4 million for the same quarter in 2021. The Board of Directors has declared a quarterly cash dividend of $0.23 per common share.
New insurance written for the third quarter was $17.1 billion, compared to $23.6 billion in the third quarter of 2021.
Insurance in force as of September 30, 2022 was $222.5 billion, compared to $208.2 billion as of September 30, 2021.
The combined ratio for the third quarter was 22.3%, compared to 15.9% in the third quarter of 2021.
Essent Guaranty, Inc. obtained $237.9 million of fully collateralized excess of loss reinsurance coverage.
Forward Guidance
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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