Enact Q1 net income $176M ($1.08 EPS); record IIF $253B; dividend raised to $0.16

Enact Holdings, Inc.

2023-Q1 EPS reported $1.08 revenue$280,939,000

GAAP net income $176M ($1.08 diluted EPS) vs $144M prior quarter and $165M prior year; adjusted operating income $176M.
Record primary insurance-in-force $253B (+9% YoY); persistency 85%; NIW $13B (down 30% YoY due to higher rates).
Delinquency rate improved to 1.93% from 2.40% YoY; loss ratio -5% due to $70M reserve release from COVID cures.
Quarterly dividend increased 14% to $0.16/share from $0.14, payable June 14; share repurchases $32M YTD.
Credit ratings upgraded (S&P BBB+, Moody's A3, Fitch A-); PMIERs sufficiency 164% ($2.1B above requirement).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Enact Holdings, Inc. reported the quarter ended March 31, 2023 results: net income $176 million, EPS $1.08 per diluted share.

Period: the quarter ended March 31, 2023
Net income: $176 million
EPS: $1.08 per diluted share
Result: reported results

Exact text from the filing

First quarter GAAP Net Income of $176 million, or $1.08 per diluted share

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Source: SEC EDGAR

accession 0001823529-23-000085

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