Enact Q3 net income $191M ($1.17/sh), declares special dividend $1.12/sh and $75M buyback

Enact Holdings, Inc.

2022-Q3 EPS reported $3.43 revenue$818,204,000

GAAP net income $191M ($1.17 diluted EPS) vs $205M in Q2 and $137M in Q3 2021.
Net premiums earned $235M, down 1% QoQ and 3% YoY; loss ratio (17)% from favorable reserve development.
Record insurance-in-force of $242B (+9% YoY); persistency 82% (up from 65% YoY).
Board declared special cash dividend of $183M ($1.12/sh) payable Dec 6 to Nov 18 record holders; authorized $75M share repurchase.
PMIERs sufficiency 174% ($2,249M above requirements); Moody's upgraded IFSR to Baa1, stable outlook.

item 2.02 item 8.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Enact Holdings, Inc. reported the quarter ended September 30, 2022 results: revenue $235 million, net income $191 million, EPS $1.17 per diluted share.

Period: the quarter ended September 30, 2022
Revenue: $235 million
Net income: $191 million
EPS: $1.17 per diluted share
Result: reported results

Exact text from the filing

driven by an increase in mortgage rates and an ongoing decline in the percentage of our in-force policies with mortgage rates above current rates. • Net premiums earned were $235 million, down 1% from $237 million in the second quarter of 2022 and down 3% from $243 million in the third quarter of 2021. Net earned premium yield was down from the second quarter of

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Source: SEC EDGAR

accession 0001823529-22-000203

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