Essent Group Ltd (N:ESNT)

Sector:  Financials Industry:  Property & Casualty Insurance
 
See Regulatory Filings on SEC
Company Contact
Address: 61 Front Street, 2 Church Street
HAMILTON HM 11
Tel: N/A
Website: essentgroup.com
IR: See website
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Key People
Mark A. Casale
Chairman of the Board, President, Chief Executive Officer
David B. Weinstock
Chief Financial Officer, Senior Vice President, Principal Accounting Officer
Christopher G. Curran
President - Essent Guaranty, Inc
Vijay Bhasin
Senior Vice President, Chief Risk Officer
Mary Lourdes Gibbons
Senior Vice President, Chief Legal Officer and Assistant Secretary
 
Business Overview
Essent Group Ltd. is a holding company. The Company, through its wholly owned subsidiaries, offers private mortgage insurance, reinsurance, risk management products and title insurance and settlement services to mortgage lenders, borrowers, and investors to support homeownership. In addition to offering mortgage insurance, it provides contract underwriting services on a limited basis through CUW Solutions, LLC. It also offers mortgage-related insurance and reinsurance through its Bermuda-based subsidiary, Essent Reinsurance Ltd. It provides private capital to mitigate mortgage credit risk, allowing lenders to make additional mortgage financing available to prospective homeowners. Its products and services include mortgage insurance, contract underwriting, and Bermuda-Based insurance and reinsurance. It offers two types of private mortgage insurance, namely primary and pool. Its subsidiaries also include Agents National Title Holding Company and Boston National Holdings LLC.
Financial Overview
For the fiscal year ended 31 December 2023, Essent Group Ltd revenues increased 11% to $1.11B. Net income decreased 16% to $696.4M. Revenues reflect Gross investment income increase of 46% to $192.5M, Investment expenses increase of 15% to -$6.3M. Net income was offset by GAAP Expense Ratio - % increase of 20% to 24.5%, Compensation & Benefits increase of 15% to $114.9M (expense), Interest expense increase of 93% to $30.1M (expense).
Employees: 536 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $6,640M as of Dec 31, 2023
Annual revenue (TTM): $1,110M as of Dec 31, 2023
EBITDA (TTM): $862.06M as of Dec 31, 2023
Net annual income (TTM): $696.39M as of Dec 31, 2023
Free cash flow (TTM): $652.78M as of Dec 31, 2023
Net Debt Last Fiscal Year: $280.13M as of Dec 31, 2023
Shares outstanding: 106,872,556 as of Feb 12, 2024
Index Membership: S&P 400 Mid Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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