Essent Group Q2 net income $203.6M ($1.91 EPS) beats prior year; declares $0.28 dividend

Essent Group Ltd.

2024-Q2 EPS reported $3.61 revenue$611,299,000

Net income $203.6M ($1.91 diluted EPS) vs $172.2M ($1.61) in Q2 2023, a 18% increase.
New insurance written $12.5B in Q2 2024, down from $13.5B in Q2 2023 but up from $8.3B in Q1 2024.
Insurance in force $240.7B as of June 30, 2024, up from $235.6B a year ago and $238.5B at March 31, 2024.
Net investment income for H1 2024 was $108.2M, up 22% from H1 2023.
Entered excess-of-loss reinsurance covering 15% of eligible 2024 policies and closed $1B debt capacity ($500M notes + $500M revolver) on July 1.

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