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Dec 31, 2019
Essent Q4 2019 Earnings Report
Essent Group reported strong financial results for Q4 2019, marked by an increase in net income and a Moody's upgrade of their financial strength rating.
Key Takeaways
Essent Group Ltd. reported a net income of $147.0 million, or $1.49 per diluted share, for the quarter ended December 31, 2019, compared to $128.5 million, or $1.31 per diluted share, for the quarter ended December 31, 2018. The company's Board of Directors declared a quarterly cash dividend of $0.16 per common share.
Insurance in force as of December 31, 2019, was $164.0 billion, compared to $137.7 billion as of December 31, 2018.
New insurance written for the fourth quarter was $15.8 billion, compared to $11.4 billion in the fourth quarter of 2018.
Net premiums earned for the fourth quarter were $207.7 million, compared to $173.3 million in the fourth quarter of 2018.
The expense ratio for the fourth quarter was 19.9%, compared to 22.8% in the fourth quarter of 2018.
Forward Guidance
Essent management expressed optimism about the company's future prospects, citing a favorable operating environment and strong credit performance. However, they also acknowledged potential risks and uncertainties that could impact their expectations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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