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 |
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 |