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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of Earliest Event Reported): August 2, 2024
ESSENT GROUP LTD.
(Exact name of registrant as specified in its charter) 
Bermuda001-36157Not Applicable
(State of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
Clarendon House
2 Church Street
Hamilton HM11, Bermuda
(Address of Principal Executive Offices and Zip Code)

(441) 297‑9901
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company        ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange on which registered
Common Shares, $0.015 par valueESNTNew York Stock Exchange



Item 2.02.    Results of Operations and Financial Condition
On August 2, 2024, Essent Group Ltd. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2024. A copy of this press release is furnished as Exhibit 99.1 to this report.
The information in this report, including Exhibit 99.1, has been “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section. The information in this report shall not be incorporated by reference into any filing or other document under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing or document.

Item 9.01.             Financial Statements and Exhibits
(d)Exhibits
Exhibit
 No.		  Description
104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
Press Release issued by Essent Group Ltd. on August 2, 2024.


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 2, 2024

ESSENT GROUP LTD.


By:    /s/ David B. Weinstock
Name: David B. Weinstock
Title: Senior Vice President and Chief Financial Officer


Exhibit 99.1

Essent Group Ltd. Announces Second Quarter 2024 Results and Declares Quarterly Dividend
HAMILTON, Bermuda--(BUSINESS WIRE)--August 2, 2024--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended June 30, 2024 of $203.6 million or $1.91 per diluted share, compared to $172.2 million or $1.61 per diluted share for the quarter ended June 30, 2023.
Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.28 per common share. The dividend is payable on September 10, 2024, to shareholders of record on August 30, 2024.

“We are pleased with our financial results in the second quarter, as our high-quality portfolio and resilience in the housing and labor markets translated to favorable credit performance, and the current rate environment continues to benefit investment income and persistency,” said Mark A. Casale, Chairman and Chief Executive Officer. “The Essent franchise achieved another milestone by closing on our inaugural senior debt offering on July 1. Combined with an amended and extended revolving credit facility, we now have over $1.3 billion in available holding company liquidity.”
Financial Highlights:
•New insurance written for the second quarter of 2024 was $12.5 billion, compared to $8.3 billion in the first quarter of 2024 and $13.5 billion in the second quarter of 2023.

•Insurance in force as of June 30, 2024 was $240.7 billion, compared to $238.5 billion as of March 31, 2024 and $235.6 billion as of June 30, 2023.

•Net investment income for the first half of 2024 was $108.2 million, up 22% from the first half of 2023.

•Effective July 1, 2024, we entered into an excess of loss transaction with a panel of highly rated third-party reinsurers covering 15% of all eligible policies written by Essent Guaranty, Inc. in calendar year 2024.

•On July 1, 2024, Essent closed two transactions that represent approximately $1 billion in total debt capacity, comprised of $500 million of senior unsecured notes and a $500 million unsecured revolving credit facility.


Conference Call:
Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results. The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and-presentations/events/default.aspx. The call may also be accessed by dialing 888-330-2384 inside the U.S., or 240-789-2701 for international callers, using passcode 9824537 or by referencing Essent.

A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800-770-2030 inside the U.S., or 647-362-9199 for international callers, passcode 9824537.
In addition to the information provided in the Company's earnings news release, other statistical and financial information, which may be referred to during the conference call, will be available on Essent's website at http://ir.essentgroup.com/financials/quarterly-results/default.aspx.
Forward-Looking Statements:
This press release may include “forward-looking statements” which are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," “should,” “expect,” "plan," "anticipate," "believe," “estimate,” “predict,” or "potential" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers or the loss of a significant customer; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs; decline in the volume of low down payment mortgage originations; uncertainty of loss reserve estimates; decrease in the length of time our insurance policies are in force; deteriorating economic conditions; and other risks and factors described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on February 16, 2024, as subsequently updated through other reports we file with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.









About the Company:
Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) offering private mortgage insurance, reinsurance, and title insurance and settlement services to serve the housing finance industry. Additional information regarding Essent may be found at www.essentgroup.com.

Source: Essent Group Ltd.

Media Contact
610.230.0556
media@essentgroup.com

Investor Relations Contact
Philip Stefano
Vice President, Investor Relations
855-809-ESNT
ir@essentgroup.com


Essent Group Ltd. and Subsidiaries
Financial Results and Supplemental Information (Unaudited)
Quarter Ended June 30, 2024
Exhibit A
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
Exhibit B
Condensed Consolidated Balance Sheets (Unaudited)
Exhibit C
Consolidated Historical Quarterly Data
Exhibit DU.S. Mortgage Insurance Portfolio Historical Quarterly Data
Exhibit ENew Insurance Written - U.S. Mortgage Insurance Portfolio
Exhibit F
Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio
Exhibit G
Other Risk in Force
Exhibit H
U.S. Mortgage Insurance Portfolio Vintage Data
Exhibit I
U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data
Exhibit J
U.S. Mortgage Insurance Portfolio Geographic Data
Exhibit K
Rollforward of Defaults and Reserve for Losses and LAE - U.S. Mortgage Insurance Portfolio
Exhibit LDetail of Reserves by Default Delinquency - U.S. Mortgage Insurance Portfolio
Exhibit M
Investments Available for Sale
Exhibit N
U.S. Mortgage Insurance Company Capital
Exhibit O
Ratios and Reconciliation of Non-GAAP Financial Measures



Exhibit A
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
(In thousands, except per share amounts)2024202320242023
Revenues:
Direct premiums written$272,910 $249,167 $541,841 $488,658 
Ceded premiums(27,344)(39,546)(57,735)(73,137)
Net premiums written245,566 209,621 484,106 415,521 
Decrease in unearned premiums6,325 3,608 13,375 8,966 
Net premiums earned251,891 213,229 497,481 424,487 
Net investment income56,086 45,250 108,171 88,486 
Realized investment gains (losses), net(1,164)(1,589)(2,304)(2,077)
Income (loss) from other invested assets(419)(4,852)(2,334)(7,554)
Other income6,548 8,090 10,285 13,032 
Total revenues312,942 260,128 611,299 516,374 
Losses and expenses:
Provision (benefit) for losses and LAE(334)1,260 9,579 1,080 
Other underwriting and operating expenses55,987 42,174 113,336 90,369 
Premiums retained by agents10,215 — 19,706 — 
Interest expense7,849 7,394 15,711 14,330 
Total losses and expenses73,717 50,828 158,332 105,779 
Income before income taxes239,225 209,300 452,967 410,595 
Income tax expense35,616 37,067 67,639 67,535 
Net income$203,609 $172,233 $385,328 $343,060 
Earnings per share:
Basic$1.93 $1.62 $3.65 $3.22 
Diluted1.91 1.61 3.61 3.20 
Weighted average shares outstanding:
Basic105,657 106,249 105,677 106,594 
Diluted106,778 107,093 106,774 107,338 
Net income$203,609 $172,233 $385,328 $343,060 
Other comprehensive income (loss):
Change in unrealized appreciation (depreciation) of investments(5,375)(36,098)(27,141)22,655 
Total other comprehensive income (loss)(5,375)(36,098)(27,141)22,655 
Comprehensive income$198,234 $136,135 $358,187 $365,715 


Exhibit B
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
June 30,December 31,
(In thousands, except per share amounts)20242023
Assets
Investments
Fixed maturities available for sale, at fair value$3,931,471 $4,335,008 
Short-term investments available for sale, at fair value1,523,512 928,731 
Total investments available for sale5,454,983 5,263,739 
Other invested assets282,781 277,226 
Total investments5,737,764 5,540,965 
Cash197,402 141,787 
Accrued investment income35,534 35,689 
Accounts receivable56,974 63,266 
Deferred policy acquisition costs9,199 9,139 
Property and equipment42,905 41,304 
Prepaid federal income tax487,456 470,646 
Goodwill and intangible assets, net70,258 72,826 
Other assets55,253 51,051 
Total assets$6,692,745 $6,426,673 
Liabilities and Stockholders' Equity
Liabilities
Reserve for losses and LAE$260,688 $260,095 
Unearned premium reserve126,938 140,285 
Net deferred tax liability381,393 362,753 
Credit facility borrowings, net of deferred costs422,448 421,920 
Other accrued liabilities121,488 139,070 
Total liabilities1,312,955 1,324,123 
Commitments and contingencies
Stockholders' Equity
Common shares, $0.015 par value:
Authorized - 233,333; issued and outstanding - 106,372 shares in 2024 and 106,597 shares in 20231,596 1,599 
Additional paid-in capital1,278,918 1,299,869 
Accumulated other comprehensive loss(307,637)(280,496)
Retained earnings4,406,913 4,081,578 
Total stockholders' equity 5,379,790 5,102,550 
Total liabilities and stockholders' equity$6,692,745 $6,426,673 
Return on average equity (1)14.7 %14.6 %
(1) The 2024 return on average equity is calculated by dividing annualized year-to-date 2024 net income by average equity. The 2023 return on average equity is calculated by dividing full year 2023 net income by average equity.



Exhibit C
Essent Group Ltd. and Subsidiaries
Supplemental Information
Consolidated Historical Quarterly Data
20242023
Selected Income Statement Data
June 30
March 31
December 31
September 30
June 30
(In thousands, except per share amounts)
Revenues:
Net premiums earned:
U.S. Mortgage Insurance Portfolio$217,513 $212,479 $211,083 $209,351 $195,502 
GSE and other risk share17,745 17,826 17,166 16,850 17,727 
Title insurance16,633 15,285 17,365 20,604 — 
Net premiums earned251,891 245,590 245,614 246,805 213,229 
Net investment income56,086 52,085 50,581 47,072 45,250 
Realized investment (losses) gains, net(1,164)(1,140)(4,892)(235)(1,589)
(Loss) income from other invested assets(419)(1,915)(421)(3,143)(4,852)
Other income (loss) (1)
6,548 3,737 6,395 5,609 8,090 
Total revenues
312,942 298,357 297,277 296,108 260,128 
Losses and expenses:
Provision (benefit) for losses and LAE(334)9,913 19,640 10,822 1,260 
Other underwriting and operating expenses
55,987 57,349 55,248 54,814 42,174 
Premiums retained by agents10,215 9,491 11,475 13,175 — 
Interest expense
7,849 7,862 7,953 7,854 7,394 
Total losses and expenses
73,717 84,615 94,316 86,665 50,828 
Income before income taxes
239,225 213,742 202,961 209,443 209,300 
Income tax expense (2)
35,616 32,023 27,594 31,484 37,067 
Net income
$203,609 $181,719 $175,367 $177,959 $172,233 
Earnings per share:
   Basic
$1.93 $1.72 $1.66 $1.68 $1.62 
   Diluted
1.91 1.70 1.64 1.66 1.61 
Weighted average shares outstanding:
   Basic
105,657 105,697 105,733 105,979 106,249 
   Diluted
106,778 106,770 106,823 107,025 107,093 
Book value per share$50.58 $48.96 $47.87 $44.98 $44.24 
Return on average equity (annualized)
15.4 %14.1 %14.2 %14.9 %14.7 %
Credit Facility
Borrowings outstanding
$425,000 $425,000 $425,000 $425,000 $425,000 
Undrawn committed capacity
$400,000 $400,000 $400,000 $400,000 $400,000 
Weighted average interest rate (end of period)
7.07 %7.06 %7.11 %7.07 %6.87 %
Debt-to-capital7.32 %7.52 %7.69 %8.12 %8.24 %
(1) Other income includes net favorable (unfavorable) changes in the fair value of embedded derivatives associated with certain of our third-party reinsurance agreements, which for the quarters ended June 30, 2024, March 31, 2024, December 31, 2023, September 30, 2023, and June 30, 2023, were $732, ($1,902), $412, ($898), and $2,726, respectively.
(2) Income tax expense for the quarters ended June 30,2024, March 31, 2024, December 31, 2023, September 30, 2023, and June 30, 2023 includes $556, ($1,041), ($1,132), ($763), and ($888), respectively, of discrete tax expense (benefit) associated with realized and unrealized gains and losses. Income tax expense for the quarter ended March 31, 2024 also includes ($616) of excess tax benefits associated with the vesting of common shares and common share units. Income tax expense for the quarter ended December 31, 2023 also includes a $2,731 net benefit associated with the recognition of a deferred tax asset for unrealized losses on the investment portfolios of Essent Group and Essent Re upon the enactment of the Bermuda Corporate Income Tax. Income tax expense for the quarter ended June 30, 2023 also includes $5,295 of net discrete tax expense associated with prior year tax returns.


Exhibit D
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Historical Quarterly Data
20242023
Other Data:
June 30
March 31
December 31
September 30
June 30
($ in thousands)
U.S. Mortgage Insurance Portfolio
New insurance written
$12,503,125 $8,323,544 $8,769,160 $12,505,823 $13,498,080 
New risk written
3,449,623 2,289,508 2,409,340 3,458,467 3,726,513 
Average insurance in force$239,538,571 $238,595,268 $239,005,961 $237,270,093 $233,484,941 
Insurance in force (end of period)
$240,669,165 $238,477,402 $239,078,262 $238,661,612 $235,649,884 
Gross risk in force (end of period) (1)
$65,269,064 $64,247,810 $64,061,374 $63,605,057 $62,403,400 
Risk in force (end of period)$55,521,538 $54,686,533 $54,591,590 $53,920,308 $53,290,643 
Policies in force
814,237 815,752 822,012 825,248 821,690 
Weighted average coverage (2)
27.1 %26.9 %26.8 %26.7 %26.5 %
Annual persistency
86.7 %86.9 %86.9 %86.6 %85.8 %
Loans in default (count)
13,954 13,992 14,819 13,391 12,480 
Percentage of loans in default
1.71 %1.72 %1.80 %1.62 %1.52 %
U.S. Mortgage Insurance Portfolio premium rate:
   Base average premium rate (3)
0.41 %0.41 %0.40 %0.40 %0.40 %
   Single premium cancellations (4)
— %— %— %— %— %
  Gross average premium rate0.41 %0.41 %0.40 %0.40 %0.40 %
  Ceded premiums(0.05 %)(0.05 %)(0.05 %)(0.05 %)(0.07 %)
    Net average premium rate0.36 %0.36 %0.35 %0.35 %0.33 %
(1) Gross risk in force includes risk ceded under third-party reinsurance.
(2) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force.
(3) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period.
(4) Single premium cancellations is calculated by dividing annualized premiums on the cancellation of non-refundable single premium policies by average insurance in force for the period.



Exhibit E
Essent Group Ltd. and Subsidiaries
Supplemental Information - U.S. Mortgage Insurance Portfolio
New Insurance Written: Flow
NIW by Credit Score
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
($ in thousands)
>=760$5,451,182 43.6 %$5,413,790 40.1 %$9,047,782 43.4 %$10,260,848 38.9 %
740-7592,165,026 17.3 2,428,773 18.0 3,575,472 17.2 4,826,755 18.3 
720-7391,819,751 14.6 2,194,400 16.3 3,064,399 14.7 4,399,244 16.7 
700-7191,585,167 12.7 2,022,302 15.0 2,725,597 13.1 4,025,194 15.2 
680-699870,054 7.0 1,032,061 7.6 1,433,473 6.9 2,132,876 8.1 
<=679611,945 4.8 406,754 3.0 979,946 4.7 746,952 2.8 
Total$12,503,125 100.0 %$13,498,080 100.0 %$20,826,669 100.0 %$26,391,869 100.0 %
Weighted average credit score748 746 748 746 
NIW by LTV
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
($ in thousands)
85.00% and below$854,349 6.8 %$988,752 7.3 %$1,414,248 6.8 %$1,951,761 7.4 %
85.01% to 90.00%2,423,665 19.4 2,819,310 20.9 4,155,796 20.0 5,505,138 20.9 
90.01% to 95.00%6,874,853 55.0 7,339,533 54.4 11,392,508 54.7 14,769,646 55.9 
95.01% and above2,350,258 18.8 2,350,485 17.4 3,864,117 18.5 4,165,324 15.8 
Total$12,503,125 100.0 %$13,498,080 100.0 %$20,826,669 100.0 %$26,391,869 100.0 %
Weighted average LTV93 %93 %93 %93 %
NIW by Product
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Single Premium policies1.3 %4.3 %1.6 %4.1 %
Monthly Premium policies98.7 95.7 98.4 95.9 
100.0 %100.0 %100.0 %100.0 %
NIW by Purchase vs. Refinance
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Purchase97.8 %98.8 %97.6 %98.7 %
Refinance2.2 1.2 2.4 1.3 
100.0 %100.0 %100.0 %100.0 %


Exhibit F
Essent Group Ltd. and Subsidiaries
Supplemental Information
Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio
Portfolio by Credit Score
IIF by FICO scoreJune 30, 2024March 31, 2024June 30, 2023
($ in thousands)
>=760
$97,668,435 40.6 %$96,712,431 40.6 %$95,925,520 40.8 %
740-759
41,915,598 17.4 41,477,680 17.4 40,733,799 17.3 
720-739
37,678,804 15.7 37,342,339 15.7 36,791,104 15.6 
700-719
32,331,564 13.4 32,023,895 13.4 30,970,132 13.1 
680-699
19,751,956 8.2 19,664,999 8.2 19,667,866 8.3 
<=679
11,322,808 4.7 11,256,058 4.7 11,561,463 4.9 
Total$240,669,165 100.0 %$238,477,402 100.0 %$235,649,884 100.0 %
Weighted average credit score746 746 746 
Gross RIF by FICO scoreJune 30, 2024March 31, 2024June 30, 2023
($ in thousands)
>=760
$26,238,140 40.2 %$25,806,552 40.2 %$25,138,762 40.3 %
740-759
11,525,987 17.7 11,326,253 17.6 10,922,780 17.5 
720-739
10,362,021 15.9 10,206,055 15.9 9,896,425 15.9 
700-719
8,899,342 13.6 8,757,648 13.6 8,319,353 13.3 
680-699
5,382,312 8.2 5,321,802 8.3 5,248,349 8.4 
<=679
2,861,262 4.4 2,829,500 4.4 2,877,731 4.6 
Total$65,269,064 100.0 %$64,247,810 100.0 %$62,403,400 100.0 %
Portfolio by LTV
IIF by LTVJune 30, 2024March 31, 2024June 30, 2023
($ in thousands)
85.00% and below
$16,927,111 7.0 %$18,397,395 7.7 %$22,427,649 9.5 %
85.01% to 90.00%
61,774,991 25.7 62,218,749 26.1 63,562,258 27.0 
90.01% to 95.00%
123,414,332 51.3 120,666,455 50.6 115,768,826 49.1 
95.01% and above
38,552,731 16.0 37,194,803 15.6 33,891,151 14.4 
Total$240,669,165 100.0 %$238,477,402 100.0 %$235,649,884 100.0 %
Weighted average LTV93 %93 %93 %
Gross RIF by LTVJune 30, 2024March 31, 2024June 30, 2023
($ in thousands)
85.00% and below
$2,010,864 3.1 %$2,188,074 3.4 %$2,667,981 4.3 %
85.01% to 90.00%
15,238,201 23.3 15,329,091 23.9 15,583,198 25.0 
90.01% to 95.00%
36,405,573 55.8 35,556,840 55.3 34,026,320 54.5 
95.01% and above
11,614,426 17.8 11,173,805 17.4 10,125,901 16.2 
Total$65,269,064 100.0 %$64,247,810 100.0 %$62,403,400 100.0 %
Portfolio by Loan Amortization Period
IIF by Loan Amortization PeriodJune 30, 2024March 31, 2024June 30, 2023
($ in thousands)
FRM 30 years and higher
$235,138,420 97.7 %$232,753,590 97.6 %$228,745,641 97.1 %
FRM 20-25 years
1,322,021 0.5 1,473,431 0.6 2,124,690 0.9 
FRM 15 years
1,276,780 0.5 1,359,795 0.6 1,953,448 0.8 
ARM 5 years and higher
2,931,944 1.3 2,890,586 1.2 2,826,105 1.2 
Total$240,669,165 100.0 %$238,477,402 100.0 %$235,649,884 100.0 %


Exhibit G
Essent Group Ltd. and Subsidiaries
Supplemental Information
Other Risk in Force
20242023
($ in thousands)June 30March 31December 31September 30June 30
GSE and other risk share (1):
Risk in Force$2,304,885 $2,307,267 $2,244,944 $2,247,393 $2,276,702 
Reserve for losses and LAE$33 $32 $29 $54 $55 
Weighted average credit score750 750 749 749 749 
Weighted average LTV82 %82 %82 %82 %83 %
(1) GSE and other risk share includes GSE risk share and other reinsurance transactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae.




Exhibit H
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Vintage Data
June 30, 2024
Insurance in Force
YearOriginal
Insurance
Written
($ in thousands)		Remaining
Insurance
in Force
($ in thousands)		% Remaining of Original
Insurance		Number of Policies in ForceWeighted Average Coupon% Purchase>90% LTV>95% LTVFICO < 700FICO >= 760Incurred Loss Ratio (Inception to Date) (1)Number of Loans in DefaultPercentage of Loans in Default
2010 - 2014$60,668,851 $1,047,692 1.7 %5,772 4.28 %66.1 %49.8 %1.2 %10.3 %49.0 %2.4 %252 4.37 %
201526,193,656 1,038,672 4.0 6,156 4.2779.8 66.5 5.5 18.1 39.1 2.3 245 3.98 
201634,949,319 2,570,524 7.4 15,203 3.9286.8 79.2 13.3 16.3 41.6 2.0 427 2.81 
201743,858,322 4,139,552 9.4 25,251 4.2991.1 77.1 22.5 21.2 36.6 3.1 990 3.92 
201847,508,525 5,073,930 10.7 28,900 4.8095.1 73.3 26.7 21.8 32.4 4.1 1,257 4.35 
201963,569,183 11,216,155 17.6 54,299 4.2388.9 71.1 25.6 18.9 35.2 3.8 1,635 3.01 
2020107,944,065 40,789,474 37.8 159,965 3.2071.0 60.5 14.0 10.9 45.5 2.6 2,153 1.35 
202184,218,250 55,842,833 66.3 185,000 3.0988.2 65.1 16.3 13.8 40.4 6.0 3,042 1.64 
202263,061,262 54,555,338 86.5 156,491 5.0898.0 65.8 11.4 12.6 39.6 16.8 2,598 1.66 
202347,666,852 43,986,658 92.3 123,145 6.6598.8 72.7 18.5 11.0 38.9 15.7 1,297 1.05 
2024 (through June 30)20,826,669 20,408,337 98.0 54,055 6.8897.6 73.4 18.8 11.7 42.9 5.8 58 0.11 
Total$600,464,954 $240,669,165 40.1 814,237 4.6690.3 67.3 16.0 12.9 40.6 4.3 13,954 1.71 
(1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned.



Exhibit I
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data
June 30, 2024
($ in thousands)
Insurance Linked Notes (1)
Earned Premiums Ceded
Deal NameVintageRemaining
Insurance
in Force		Remaining
Risk
in Force		Original
Reinsurance in Force		Remaining
Reinsurance in Force		Losses
Ceded
to Date		Original
First Layer
Retention		Remaining
First Layer
Retention		Quarter-to-Date Year-to-DateReduction in PMIERs Minimum Required
Assets (3)
Radnor Re 2021-1Aug. 2020 - Mar. 2021$27,796,132 $7,390,779 $557,911 $250,732 $— $278,956 $278,227 $2,148 $4,473 $174,722 
Radnor Re 2021-2Apr. 2021 - Sep. 202132,876,424 9,007,485 439,407 301,015 — 279,415 277,770 3,563 7,237 239,363 
Radnor Re 2022-1Oct. 2021 - Jul. 202229,790,115 8,096,398 237,868 209,409 — 303,761 302,032 3,736 7,653 192,656 
Radnor Re 2023-1Aug. 2022 - Jun. 202329,594,148 8,102,672 281,462 281,462 — 281,463 281,434 3,473 6,952 266,826 
Total$120,056,819 $32,597,334 $1,516,648 $1,042,618 $— $1,143,595 $1,139,463 $12,920 $26,315 (5)$873,567 
Excess of Loss Reinsurance (2)
Earned Premiums Ceded
Deal NameVintageRemaining
Insurance
in Force		Remaining
Risk
in Force		Original
Reinsurance in Force		Remaining
Reinsurance in Force		Losses
Ceded
to Date		Original
First Layer
Retention		Remaining
First Layer
Retention		Quarter-to-Date Year-to-DateReduction in PMIERs Minimum Required
Assets (3)
XOL 2019-1Jan. 2018 - Dec. 2018$5,024,587 $1,321,732 $118,650 $76,144 $— $253,643 $244,991 $607 $1,227 $— 
XOL 2020-1Jan. 2019 - Aug. 20196,290,687 1,658,671 55,102 32,770 — 215,605 212,557 267 547 — 
XOL 2022-1Oct. 2021 - Dec. 202267,094,902 18,213,963 141,992 141,992 — 507,114 502,788 1,593 3,186 137,802 
XOL 2023-1Jan. 2023 - Dec. 202339,252,349 10,868,626 36,627 36,627 — 366,270 366,154 434 868 35,310 
Total$117,662,525 $32,062,992 $352,371 $287,533 $— $1,342,632 $1,326,490 $2,901 $5,828 $173,112 

Quota Share Reinsurance (2)
Losses CededCeding CommissionEarned Premiums Ceded
YearCeding PercentageRemaining
Insurance
in Force		Remaining
Risk
in Force		Remaining Ceded Insurance in ForceRemaining Ceded Risk in ForceQuarter-to-DateYear-to-DateQuarter-to-DateYear-to-DateQuarter-to-DateYear-to-DateReduction in PMIERs Minimum Required
Assets (3)
Sep. 2019 - Dec. 2020(4)$45,488,690 $12,209,907 $10,259,829 $2,717,800 $(609)$(790)$2,264 $4,645 $3,580 $7,803 $161,813 
Jan. 2022 - Dec. 202220%54,504,030 14,796,646 10,900,806 2,959,329 (469)1,255 1,879 3,784 3,101 8,445 218,858 
Jan. 2023 - Dec. 202317.5%39,137,562 10,840,618 6,849,073 1,897,108 1,020 2,461 1,349 2,715 3,852 8,163 143,367 
Jan. 2024 - Dec. 202415%20,388,139 5,620,923 3,058,221 843,138 159 159 407 508 1,035 1,252 58,872 
Total$159,518,421 $43,468,094 $31,067,929 $8,417,375 $101 $3,085 $5,899 $11,652 $11,568 $25,663 $582,910 
(1) Reinsurance provided by unaffiliated special purpose insurers through the issuance of mortgage insurance-linked notes ("ILNs").
(2) Reinsurance provided by panels of reinsurers.
(3) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assets based on our interpretation of the PMIERs.
(4) Reinsurance coverage on 40% of eligible single premium policies and 20% of all other eligible policies.
(5) Excludes ($45) and ($71) of benefit in ceded premium on retired ILN's for the three and six months ended June 30, 2024, respectively.


Exhibit J
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Geographic Data
IIF by State
June 30, 2024March 31, 2024June 30, 2023
CA
12.7 %12.9 %13.1 %
FL
11.6 11.3 10.8 
TX
10.8 10.6 10.5 
CO
4.1 4.1 4.1 
AZ
3.8 3.8 3.7 
GA
3.6 3.5 3.3 
WA
3.4 3.5 3.4 
NC
3.0 2.9 2.8 
IL
2.7 2.7 2.9 
VA
2.7 2.7 2.9 
All Others
41.6 42.0 42.5 
Total100.0 %100.0 %100.0 %
Gross RIF by State
June 30, 2024March 31, 2024June 30, 2023
CA
12.6 %12.8 %13.0 %
FL
11.8 11.6 11.1 
TX
11.1 10.9 10.8 
CO
4.1 4.1 4.1 
AZ
3.8 3.8 3.8 
GA
3.7 3.6 3.4 
WA
3.4 3.4 3.4 
NC
3.0 2.9 2.8 
IL
2.6 2.7 2.8 
VA
2.6 2.7 2.8 
All Others
41.3 41.5 42.0 
Total100.0 %100.0 %100.0 %



Exhibit K
Essent Group Ltd. and Subsidiaries
Supplemental Information
Rollforward of Defaults and Reserve for Losses and LAE
U.S. Mortgage Insurance Portfolio
Rollforward of Insured Loans in Default
Three Months Ended
20242023
June 30March 31December 31September 30June 30
Beginning default inventory13,992 14,819 13,391 12,480 12,773 
Plus: new defaults (A)
8,119 8,260 9,007 7,953 6,575 
Less: cures(7,956)(8,951)(7,418)(6,902)(6,761)
Less: claims paid(183)(123)(148)(129)(96)
Less: rescissions and denials, net(18)(13)(13)(11)(11)
Ending default inventory13,954 13,992 14,819 13,391 12,480 
(A) New defaults remaining as of June 30, 2024
5,944 2,466 1,922 1,204 699 
        Cure rate (1)
27 %70 %79 %85 %89 %
Total amount paid for claims (in thousands)$5,566 $3,605 $3,411 $2,956 $1,890 
Average amount paid per claim (in thousands)$30 $29 $23 $23 $20 
Severity60 %65 %54 %66 %58 %
Rollforward of Reserve for Losses and LAE
Three Months Ended
20242023
($ in thousands)June 30March 31December 31September 30June 30
Reserve for losses and LAE at beginning of period$253,565 $245,402 $226,617 $216,888 $215,957 
Less: Reinsurance recoverables26,570 24,005 20,656 17,958 16,357 
Net reserve for losses and LAE at beginning of period226,995 221,397 205,961 198,930 199,600 
Add provision for losses and LAE occurring in:
Current period$30,653 $39,396 $38,922 $35,609 $31,377 
Prior years(31,880)(30,062)(19,912)(25,533)(30,107)
Incurred losses and LAE during the period(1,227)9,334 19,010 10,076 1,270 
Deduct payments for losses and LAE occurring in:
Current period478 1 330 156 31 
Prior years5,205 3,735 3,244 2,889 1,909 
Loss and LAE payments during the period5,683 3,736 3,574 3,045 1,940 
Net reserve for losses and LAE at end of period220,085 226,995 221,397 205,961 198,930 
Plus: Reinsurance recoverables26,022 26,570 24,005 20,656 17,958 
Reserve for losses and LAE at end of period$246,107 $253,565 $245,402 $226,617 $216,888 
(1) The cure rate is calculated by dividing new defaults remaining as of the reporting date by the original number of new defaults reported in the quarterly period and subtracting that percentage from 100%.


Exhibit L
Essent Group Ltd. and Subsidiaries
Supplemental Information
Detail of Reserves by Default Delinquency
U.S. Mortgage Insurance Portfolio
June 30, 2024
Number of
Policies in
Default		Percentage of
Policies in
Default		 Amount of Reserves Percentage of Reserves Defaulted RIF Reserves as a Percentage of
Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less7,024 50 %$43,396 19 %$525,876 8 %
Four to eleven payments4,887 35 93,489 41 383,685 24 
Twelve or more payments1,908 14 82,529 37 135,616 61 
Pending claims135 1 7,562 3 8,540 89 
Total case reserves
13,954 100 %226,976 100 %$1,053,717 22 %
IBNR17,023 
LAE2,108 
Total reserves for losses and LAE
$246,107 
Average reserve per default:
Case$16.3 
Total$17.6 
Default Rate1.71%
December 31, 2023
Number of
Policies in
Default		Percentage of
Policies in
Default		 Amount of ReservesPercentage of Reserves Defaulted RIFReserves as a Percentage of
Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less7,288 49 %$44,607 20 %$527,419 8 %
Four to eleven payments5,421 37 97,424 43 417,876 23 
Twelve or more payments1,984 13 78,540 35 132,257 59 
Pending claims126 1 5,550 2 6,302 88 
Total case reserves14,819 100 %226,121 100 %$1,083,854 21 %
IBNR16,959 
LAE2,322 
Total reserves for losses and LAE$245,402 
Average reserve per default:
Case$15.3 
Total$16.6 
Default Rate1.80%
June 30, 2023
Number of
Policies in
Default		Percentage of
Policies in
Default		 Amount of ReservesPercentage of Reserves Defaulted RIFReserves as a Percentage of
Defaulted RIF
($ in thousands)
Missed Payments:
Three payments or less5,581 45 %$33,864 17 %$388,012 9 %
Four to eleven payments4,725 38 82,196 41 348,955 24 
Twelve or more payments2,045 16 78,236 39 123,903 63 
Pending claims129 1 5,680 3 6,687 85 
Total case reserves12,480 100 %199,976 100 %$867,557 23 %
IBNR14,998 
LAE1,914 
Total reserves for losses and LAE$216,888 
Average reserve per default:
Case$16.0 
Total$17.4 
Default Rate1.52%




Exhibit M
Essent Group Ltd. and Subsidiaries
Supplemental Information
Investments Available for Sale
Investments Available for Sale by Asset Class
Asset ClassJune 30, 2024December 31, 2023
($ in thousands)Fair ValuePercentFair ValuePercent
U.S. Treasury securities$999,176 18.3 %$996,382 18.9 %
U.S. agency securities— — 7,195 0.1 
U.S. agency mortgage-backed securities757,590 13.9 821,346 15.6 
Municipal debt securities524,396 9.7 547,258 10.5 
Non-U.S. government securities66,031 1.2 67,447 1.3 
Corporate debt securities1,151,976 21.1 1,297,055 24.7 
Residential and commercial mortgage securities498,987 9.1 517,940 9.8 
Asset-backed securities455,453 8.3 564,995 10.7 
Money market funds1,001,374 18.4 444,121 8.4 
Total investments available for sale$5,454,983 100.0 %$5,263,739 100.0 %
Investments Available for Sale by Credit Rating
Rating (1)
June 30, 2024December 31, 2023
($ in thousands)Fair ValuePercentFair ValuePercent
Aaa
$2,409,458 54.1 %$2,561,363 53.2 %
Aa1
95,534 2.1 104,474 2.2 
Aa2
265,098 6.0 291,501 6.0 
Aa3
187,946 4.1 208,882 4.3 
A1
352,488 7.9 377,188 7.8 
A2
253,728 5.7 329,423 6.8 
A3
252,599 5.7 253,081 5.3 
Baa1
207,665 4.7 220,901 4.6 
Baa2
199,072 4.5 226,449 4.7 
Baa3
158,219 3.6 166,121 3.4 
Below Baa3
71,802 1.6 80,235 1.7 
Total (2)
$4,453,609 100.0 %$4,819,618 100.0 %
(1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available.
(2) Excludes $1,001,374 and $444,121 of money market funds at June 30, 2024 and December 31, 2023, respectively.
Investments Available for Sale by Duration and Book Yield
Effective DurationJune 30, 2024December 31, 2023
($ in thousands)Fair ValuePercentFair ValuePercent
< 1 Year$2,334,120 42.8 %$1,892,074 35.9 %
1 to < 2 Years310,087 5.7 371,583 7.1 
2 to < 3 Years447,721 8.1 538,775 10.2 
3 to < 4 Years404,998 7.4 402,668 7.6 
4 to < 5 Years384,051 7.0 376,722 7.2 
5 or more Years1,574,006 29.0 1,681,917 32.0 
Total investments available for sale$5,454,983 100.0 %$5,263,739 100.0 %
Pre-tax investment income yield:
Three months ended3.84 %
Six months ended June 30, 20243.76 %
Holding company net cash and investments available for sale:
($ in thousands)
As of June 30, 2024$808,389 
As of December 31, 2023$693,507 


Exhibit N
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Company Capital
20242023
June 30March 31December 31September 30June 30
($ in thousands)
U.S. Mortgage Insurance Subsidiaries:
Combined statutory capital (1)
$3,530,462 $3,453,553 $3,376,117 $3,309,522 $3,243,086 
Combined net risk in force (2)
$34,812,227 $34,463,082 $34,549,500 $34,203,678 $34,019,643 
Risk-to-capital ratios: (3)
Essent Guaranty, Inc.10.2:110.3:110.6:110.7:110.8:1
Essent Guaranty of PA, Inc.0.3:10.4:10.4:10.5:10.5:1
Combined (4)
9.9:110.0:110.2:110.3:110.5:1
Essent Guaranty, Inc. PMIERs Data (5):
Available Assets$3,513,609 $3,464,119 $3,379,936 $3,318,179 $3,245,481 
Minimum Required Assets2,052,135 1,999,928 1,985,545 1,910,659 1,991,741 
PMIERs excess Available Assets$1,461,474 $1,464,191 $1,394,391 $1,407,520 $1,253,740 
PMIERs sufficiency ratio (6)
171 %173 %170 %174 %163 %
Essent Reinsurance Ltd.:
Stockholder's equity (GAAP basis)$1,793,777 $1,793,005 $1,758,665 $1,684,122 $1,633,763 
Net risk in force (2)
$22,770,165 $22,271,316 $22,043,926 $21,739,419 $21,327,762 
(1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc., after eliminating the impact of intercompany transactions. Statutory capital is computed based on accounting practices prescribed or permitted by the Pennsylvania Insurance Department and the National Association of Insurance Commissioners Accounting Practices and Procedures Manual.
(2) Net risk in force represents total risk in force, net of reinsurance ceded and net of exposures on policies for which loss reserves have been established.
(3) The risk-to-capital ratio is calculated as the ratio of net risk in force to statutory capital.
(4) The combined risk-to-capital ratio equals the sum of the net risk in force of Essent Guaranty, Inc. and Essent Guaranty of PA, Inc. divided by the combined statutory capital.
(5) Data is based on our interpretation of the PMIERs as of the dates indicated.
(6) PMIERs sufficiency ratio is calculated by dividing Available Assets by Minimum Required Assets.



Exhibit O
Essent Group Ltd. and Subsidiaries
Supplemental Information
Ratios and Reconciliation of Non-GAAP Financial Measures
20242023
June 30March 31December 31September 30June 30
Loss Ratio (1)(0.1)%4.0 %7.9 %4.4 %0.6 %
Expense Ratio (2)26.1 %27.1 %27.0 %27.3 %19.8 %
Combined Ratio26.0 %31.1 %34.9 %31.7 %20.4 %
Underwriting Margin (3)74.0 %68.9 %65.1 %68.3 %79.6 %
We believe that loss, expense and combined ratios are important measures of our financial performance. As a result of the July 1, 2023 acquisition of Agents National Title and Boston National Title (collectively "Title"), the consolidated loss, expense and combined ratios ("Consolidated Ratios") for the three and six months ended June 30, 2024 lack comparability with periods prior to the acquisition. In order to provide investors with more comparative information to prior periods, Essent has prepared the table below to reconcile the Consolidated Ratios to ratios excluding Title, as shown below. Ratios excluding Title are financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (GAAP) and are referred to as non-GAAP measures. Ratios excluding Title are measures used to monitor our results and should not be viewed as a substitute for those measures determined in accordance with GAAP.

The following table sets forth the reconciliation of the loss, expense and combined ratios excluding Title to the most comparable GAAP amount for the three and six months ended June 30, 2024 in accordance with Regulation G:
Three Months Ended
June 30, 2024		Six Months Ended
June 30, 2024
ConsolidatedTitleExcluding TitleConsolidatedTitleExcluding Title
($ in thousands)
Revenues:
Net premiums earned$251,891 $16,633 $235,258 $497,481 $31,917 $465,564 
Net investment income56,086 804 55,282 108,171 1,555 106,616 
Realized investment losses, net(1,164)— (1,164)(2,304)— (2,304)
(Loss) income from other invested assets(419)— (419)(2,334)— (2,334)
Settlement services (4)
1,412 1,412 — 2,837 2,837 — 
Other income5,136 474 4,662 7,448 881 6,567 
Total revenues312,942 19,323 293,619 611,299 37,190 574,109 
Losses and expenses:
Provision (benefit) for losses and LAE(334)892 (1,226)9,579 1,467 8,112 
Other underwriting and operating expenses (5)
55,987 12,909 43,078 113,336 24,719 88,617 
Premiums retained by agents10,215 10,215 — 19,706 19,706 — 
Interest expense7,849 — 7,849 15,711 — 15,711 
Total losses and expenses73,717 24,016 49,701 158,332 45,892 112,440 
Loss ratio (1)(0.1 %)4.9 %(0.5 %)1.9 %4.2 %1.7 %
Expense ratio (2)26.1 %128.1 %18.3 %26.6 %127.8 %19.0 %
Combined ratio26.0 %133.0 %17.8 %28.5 %132.0 %20.7 %
Underwriting Margin (3)74.0 %(33.0 %)82.2 %71.5 %(32.0 %)79.3 %
(1) Loss ratio is calculated by dividing the provision for losses and LAE by the sum of net premiums earned and settlement services revenue, if applicable.
(2) Expense ratio is calculated by dividing the sum of other underwriting and operating expenses and premiums retained by agents by the sum of net premiums earned and settlement services revenue, if applicable.
(3) Calculated as the inverse of the combined ratio.
(4) Settlement services revenue is included in "Other income" within Exhibit A and Exhibit C.
(5) Title expenses reflect only direct expenses of Title operations and do not include corporate or centralized support expense allocations.

v3.24.2.u1
Cover Page Cover Page
Aug. 02, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Aug. 02, 2024
Entity Registrant Name ESSENT GROUP LTD.
Entity Incorporation, State or Country Code D0
Entity File Number 001-36157
Entity Address, Address Line One Clarendon House
Entity Address, Address Line Two 2 Church Street
Entity Address, City or Town Hamilton
Entity Address, Postal Zip Code HM11
Entity Address, Country BM
City Area Code 441
Local Phone Number 297‑9901
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Title of 12(b) Security Common Shares, $0.015 par value
Trading Symbol ESNT
Security Exchange Name NYSE
Entity Central Index Key 0001448893
Amendment Flag false
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