Essent Group Ltd. (ESNT) Form 10-Q — Aug 7, 2026

$ESNTForm 10-QFiled Aug 7, 2026, 4:37 PM ET0001448893-26-000024Original filing

Essent Group reported Q2 2026 net income of $189.7 million, or $2.08 diluted EPS, versus $195.3 million, or $1.93, a year earlier, with total revenues up 14% to $362.7 million driven by property and casualty reinsurance assumed beginning January 1, 2026. H1 net income was $361.5 million on revenues of $698.8 million. Credit costs deteriorated: the mortgage insurance loss ratio nearly doubled to 13.6% from 7.0% as reserve-per-default aged to $21.6 thousand from $18.5 thousand and the default rate rose to 2.53% from 2.12%. The new P&C reinsurance line ran a 42.9% loss ratio in the quarter, while NIW grew 13% to $14.1 billion.

Key figures

Eps: $2.08 diluted (Q2 2026) / $3.89 (H1 2026)
Revenue: $362.7M (Q2 2026) / $698.8M (H1 2026)
Net Income: $189.7M (Q2 2026) / $361.5M (H1 2026)
Total Debt: $500M 6.25% Senior Notes due July 1, 2029
Total Assets: $7.59B at June 30, 2026
Cash Position: $74.3M at June 30, 2026
Shares Outstanding: 89876493
Employees: 518
Niw h1 2026: $25.2B (vs $22.5B H1 2025)
Niw q2 2026: $14.1B (vs $12.5B Q2 2025)
Default rate: 2.53% (vs 2.12% June 30, 2025)
Risk in force: $56.4B
H1 2026 buybacks: $348.4M for 5,826,799 shares
Mi loss ratio q2: 13.6% (vs 7.0% Q2 2025)
Persistency rate: 84.0%
Claims severity q2: 85% (vs 67% Q2 2025)
Insurance in force: $249.7B at June 30, 2026
Mi combined ratio q2: 28.4% (vs 22.3% Q2 2025)
Effective tax rate h1: 17.3% (vs 15.4% H1 2025)
Risk to capital ratio: 8.5:1
Pretax investment yield q2: 3.99% (vs 3.85% Q2 2025)
Gross unrealized losses afs: $237.0M across 2,298 securities
Quarterly dividend per share: 0.35
Share repurchase authorization: $500M through December 31, 2027 (approved November 2025)
Average case reserve per default: $21.6K (vs $18.5K)
Essent guaranty statutory surplus: $1.007B

Price after filing

1 day: +3.3%7 days: +4.2%30 days: +4.0%

Close on the filing date to close N calendar days later (from $66.51). Historical, not a forecast.

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