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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): November 1, 2024
ESSENT GROUP LTD.
(Exact name of registrant as specified in its charter) 
Bermuda 001-36157 Not 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 class Trading
Symbol(s)		 Name of each exchange on which registered
Common Shares, $0.015 par value ESNT New York Stock Exchange



Item 2.02.    Results of Operations and Financial Condition
On November 1, 2024, Essent Group Ltd. (the “Company”) issued a press release announcing its financial results for the quarter ended September 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
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
Press Release issued by Essent Group Ltd. on November 1, 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: November 1, 2024

ESSENT GROUP LTD.


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

EX-99.1 2 a93024financialsupplement.htm EX-99.1 Document

Exhibit 99.1

Essent Group Ltd. Announces Third Quarter 2024 Results and Declares Quarterly Dividend
HAMILTON, Bermuda--(BUSINESS WIRE)--November 1, 2024--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended September 30, 2024 of $176.2 million or $1.65 per diluted share, compared to $178.0 million or $1.66 per diluted share for the quarter ended September 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 December 11, 2024, to shareholders of record on December 2, 2024.

“We are pleased with our third quarter financial results, as we continue to generate high quality earnings,” said Mark A. Casale, Chairman and Chief Executive Officer. “Our results continue to benefit from the impact of interest rates on persistency and the growth in our investment portfolio. Our performance for the quarter demonstrates the strength of our operating model in producing strong returns and growing book value per share.”
Financial Highlights:
•New insurance written for the third quarter of 2024 was $12.5 billion, consistent with the second quarter of 2024 and the third quarter of 2023.

•Insurance in force as of September 30, 2024 was $243.0 billion, compared to $240.7 billion as of June 30, 2024 and $238.7 billion as of September 30, 2023.

•Net investment income for the nine months ended September 30, 2024 was $165.5 million, up 22% from the comparable period in 2023.

•In September, Essent closed its 10th mortgage insurance-linked note transaction, Radnor Re 2024-1, which provides $363 million of collateralized reinsurance coverage for new insurance written from July 2023 through July 2024.


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 September 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 D U.S. Mortgage Insurance Portfolio Historical Quarterly Data
Exhibit E New 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 L Detail 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 September 30, Nine Months Ended September 30,
(In thousands, except per share amounts) 2024 2023 2024 2023
Revenues:
Direct premiums written $ 277,754  $ 270,868  $ 819,595  $ 759,526 
Ceded premiums (34,789) (30,294) (92,524) (103,431)
Net premiums written 242,965  240,574  727,071  656,095 
Decrease in unearned premiums 5,971  6,231  19,346  15,197 
Net premiums earned 248,936  246,805  746,417  671,292 
Net investment income 57,340  47,072  165,511  135,558 
Realized investment gains (losses), net 68  (235) (2,236) (2,312)
Income (loss) from other invested assets 2,820  (3,143) 486  (10,697)
Other income 7,414  5,609  17,699  18,641 
Total revenues 316,578  296,108  927,877  812,482 
Losses and expenses:
Provision for losses and LAE 30,666  10,822  40,245  11,902 
Other underwriting and operating expenses 57,259  54,814  170,595  145,183 
Premiums retained by agents 9,622  13,175  29,328  13,175 
Interest expense 11,457  7,854  27,168  22,184 
Total losses and expenses 109,004  86,665  267,336  192,444 
Income before income taxes 207,574  209,443  660,541  620,038 
Income tax expense 31,399  31,484  99,038  99,019 
Net income $ 176,175  $ 177,959  $ 561,503  $ 521,019 
Earnings per share:
Basic $ 1.67  $ 1.68  $ 5.32  $ 4.90 
Diluted 1.65  1.66  5.26  4.86 
Weighted average shares outstanding:
Basic 105,266  105,979  105,539  106,387 
Diluted 106,554  107,025  106,700  107,232 
Net income $ 176,175  $ 177,959  $ 561,503  $ 521,019 
Other comprehensive income (loss):
Change in unrealized appreciation (depreciation) of investments 117,358  (76,248) 90,217  (53,593)
Total other comprehensive income (loss) 117,358  (76,248) 90,217  (53,593)
Comprehensive income $ 293,533  $ 101,711  $ 651,720  $ 467,426 


Exhibit B
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
September 30, December 31,
(In thousands, except per share amounts) 2024 2023
Assets
Investments
Fixed maturities available for sale, at fair value $ 4,919,868  $ 4,335,008 
Short-term investments available for sale, at fair value 1,030,631  928,731 
Total investments available for sale 5,950,499  5,263,739 
Other invested assets 294,931  277,226 
Total investments 6,245,430  5,540,965 
Cash 109,306  141,787 
Accrued investment income 40,453  35,689 
Accounts receivable 54,394  63,266 
Deferred policy acquisition costs 9,491  9,139 
Property and equipment 41,221  41,304 
Prepaid federal income tax 494,356  470,646 
Goodwill and acquired intangible assets, net 69,907  72,826 
Other assets 61,981  51,051 
Total assets $ 7,126,539  $ 6,426,673 
Liabilities and Stockholders' Equity
Liabilities
Reserve for losses and LAE $ 288,316  $ 260,095 
Unearned premium reserve 120,939  140,285 
Net deferred tax liability 410,761  362,753 
Senior notes due 2029, net 493,673  — 
Credit facility borrowings, net —  421,920 
Other accrued liabilities 171,865  139,070 
Total liabilities 1,485,554  1,324,123 
Commitments and contingencies
Stockholders' Equity
Common shares, $0.015 par value:
Authorized - 233,333; issued and outstanding - 106,204 shares in 2024 and 106,597 shares in 2023 1,593  1,599 
Additional paid-in capital 1,276,572  1,299,869 
Accumulated other comprehensive loss (190,279) (280,496)
Retained earnings 4,553,099  4,081,578 
Total stockholders' equity 5,640,985  5,102,550 
Total liabilities and stockholders' equity $ 7,126,539  $ 6,426,673 
Return on average equity (1) 13.9  % 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
2024 2023
Selected Income Statement Data September 30 June 30 March 31 December 31 September 30
(In thousands, except per share amounts)
Revenues:
Net premiums earned:
U.S. Mortgage Insurance Portfolio $ 214,119  $ 217,513  $ 212,479  $ 211,083  $ 209,351 
GSE and other risk share 17,130  17,745  17,826  17,166  16,850 
Title insurance 17,687  16,633  15,285  17,365  20,604 
Net premiums earned 248,936  251,891  245,590  245,614  246,805 
Net investment income 57,340  56,086  52,085  50,581  47,072 
Realized investment gains (losses), net 68  (1,164) (1,140) (4,892) (235)
Income (loss) from other invested assets 2,820  (419) (1,915) (421) (3,143)
Other income (1)
 7,414  6,548  3,737  6,395  5,609 
Total revenues 316,578  312,942  298,357  297,277  296,108 
Losses and expenses:
Provision (benefit) for losses and LAE 30,666  (334) 9,913  19,640  10,822 
Other underwriting and operating expenses 57,259  55,987  57,349  55,248  54,814 
Premiums retained by agents 9,622  10,215  9,491  11,475  13,175 
Interest expense 11,457  7,849  7,862  7,953  7,854 
Total losses and expenses 109,004  73,717  84,615  94,316  86,665 
Income before income taxes 207,574  239,225  213,742  202,961  209,443 
Income tax expense (2)
 31,399  35,616  32,023  27,594  31,484 
Net income $ 176,175  $ 203,609  $ 181,719  $ 175,367  $ 177,959 
Earnings per share:
   Basic $ 1.67  $ 1.93  $ 1.72  $ 1.66  $ 1.68 
   Diluted 1.65  1.91  1.70  1.64  1.66 
Weighted average shares outstanding:
   Basic 105,266  105,657  105,697  105,733  105,979 
   Diluted 106,554  106,778  106,770  106,823  107,025 
Book value per share $ 53.11  $ 50.58  $ 48.96  $ 47.87  $ 44.98 
Return on average equity (annualized) 12.8  % 15.4  % 14.1  % 14.2  % 14.9  %
Borrowings outstanding $ 500,000  $ 425,000  $ 425,000  $ 425,000  $ 425,000 
Undrawn committed capacity $ 500,000  $ 400,000  $ 400,000  $ 400,000  $ 400,000 
Weighted average interest rate (end of period)
 6.25  % 7.07  % 7.06  % 7.11  % 7.07  %
Debt-to-capital 8.14  % 7.32  % 7.52  % 7.69  % 8.12  %
(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 September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023, were ($1,173), $732, ($1,902), $412, and ($898), respectively.
(2) Income tax expense for the quarters ended September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023 includes $475, $556, ($1,041), ($1,132), and ($763), 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.


Exhibit D
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Historical Quarterly Data
2024 2023
Other Data: September 30 June 30 March 31 December 31 September 30
($ in thousands)
U.S. Mortgage Insurance Portfolio
New insurance written $ 12,513,695  $ 12,503,125  $ 8,323,544  $ 8,769,160  $ 12,505,823 
New risk written 3,437,465  3,449,623  2,289,508  2,409,340  3,458,467 
Average insurance in force $ 242,065,632  $ 239,538,571  $ 238,595,268  $ 239,005,961  $ 237,270,093 
Insurance in force (end of period) $ 242,976,043  $ 240,669,165  $ 238,477,402  $ 239,078,262  $ 238,661,612 
Gross risk in force (end of period) (1)
 $ 66,237,992  $ 65,269,064  $ 64,247,810  $ 64,061,374  $ 63,605,057 
Risk in force (end of period) $ 55,915,640  $ 55,521,538  $ 54,686,533  $ 54,591,590  $ 53,920,308 
Policies in force 815,507  814,237  815,752  822,012  825,248 
Weighted average coverage (2)
 27.3  % 27.1  % 26.9  % 26.8  % 26.7  %
Annual persistency 86.6  % 86.7  % 86.9  % 86.9  % 86.6  %
Loans in default (count) 15,906  13,954  13,992  14,819  13,391 
Percentage of loans in default 1.95  % 1.71  % 1.72  % 1.80  % 1.62  %
U.S. Mortgage Insurance Portfolio premium rate:
   Base average premium rate (3)
 0.41  % 0.41  % 0.41  % 0.40  % 0.40  %
   Single premium cancellations (4)
 —  % —  % —  % —  % —  %
  Gross average premium rate 0.41  % 0.41  % 0.41  % 0.40  % 0.40  %
  Ceded premiums (0.06  %) (0.05  %) (0.05  %) (0.05  %) (0.05  %)
    Net average premium rate 0.35  % 0.36  % 0.36  % 0.35  % 0.35  %
(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 Ended Nine Months Ended
September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023
($ in thousands)
>=760 $ 5,339,574  42.7  % $ 5,212,343  41.8  % $ 14,387,356  43.2  % $ 15,473,191  39.8  %
740-759 2,141,817  17.1  2,205,066  17.6  5,717,289  17.1  7,031,821  18.1 
720-739 1,764,319  14.1  1,911,320  15.3  4,828,718  14.5  6,310,564  16.2 
700-719 1,622,450  13.0  1,867,510  14.9  4,348,047  13.0  5,892,704  15.1 
680-699 918,116  7.3  891,471  7.1  2,351,589  7.1  3,024,347  7.8 
<=679 727,419  5.8  418,113  3.3  1,707,365  5.1  1,165,065  3.0 
Total $ 12,513,695  100.0  % $ 12,505,823  100.0  % $ 33,340,364  100.0  % $ 38,897,692  100.0  %
Weighted average credit score 747  747  747  746 
NIW by LTV
Three Months Ended Nine Months Ended
September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023
($ in thousands)
85.00% and below $ 836,186  6.7  % $ 849,250  6.7  % $ 2,250,434  6.7  % $ 2,801,011  7.2  %
85.01% to 90.00% 2,415,504  19.3  2,445,924  19.6  6,571,300  19.7  7,951,062  20.4 
90.01% to 95.00% 6,616,174  52.9  6,614,050  52.9  18,008,682  54.0  21,383,696  55.0 
95.01% and above 2,645,831  21.1  2,596,599  20.8  6,509,948  19.6  6,761,923  17.4 
Total $ 12,513,695  100.0  % $ 12,505,823  100.0  % $ 33,340,364  100.0  % $ 38,897,692  100.0  %
Weighted average LTV 93  % 93  % 93  % 93  %
NIW by Product
Three Months Ended Nine Months Ended
September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023
Single Premium policies 1.4  % 2.8  % 1.5  % 3.8  %
Monthly Premium policies 98.6  97.2  98.5  96.2 
100.0  % 100.0  % 100.0  % 100.0  %
NIW by Purchase vs. Refinance
Three Months Ended Nine Months Ended
September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023
Purchase 97.0  % 99.0  % 97.4  % 98.8  %
Refinance 3.0  1.0  2.6  1.2 
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 score September 30, 2024 June 30, 2024 September 30, 2023
($ in thousands)
>=760 $ 98,553,455  40.6  % $ 97,668,435  40.6  % $ 97,027,348  40.7  %
740-759 42,377,559  17.4  41,915,598  17.4  41,362,480  17.3 
720-739 37,947,254  15.6  37,678,804  15.7  37,297,809  15.6 
700-719 32,685,044  13.5  32,331,564  13.4  31,674,346  13.3 
680-699 19,890,335  8.2  19,751,956  8.2  19,850,176  8.3 
<=679 11,522,396  4.7  11,322,808  4.7  11,449,453  4.8 
Total $ 242,976,043  100.0  % $ 240,669,165  100.0  % $ 238,661,612  100.0  %
Weighted average credit score 746  746  746 
Gross RIF by FICO score September 30, 2024 June 30, 2024 September 30, 2023
($ in thousands)
>=760 $ 26,614,399  40.2  % $ 26,238,140  40.2  % $ 25,594,262  40.1  %
740-759 11,715,485  17.7  11,525,987  17.7  11,165,727  17.6 
720-739 10,485,311  15.8  10,362,021  15.9  10,090,889  15.9 
700-719 9,044,551  13.7  8,899,342  13.6  8,568,811  13.5 
680-699 5,451,406  8.2  5,382,312  8.2  5,327,434  8.4 
<=679 2,926,840  4.4  2,861,262  4.4  2,857,934  4.5 
Total $ 66,237,992  100.0  % $ 65,269,064  100.0  % $ 63,605,057  100.0  %
Portfolio by LTV
IIF by LTV September 30, 2024 June 30, 2024 September 30, 2023
($ in thousands)
85.00% and below $ 15,555,555  6.4  % $ 16,927,111  7.0  % $ 21,226,685  8.9  %
85.01% to 90.00% 61,262,960  25.2  61,774,991  25.7  63,374,562  26.6 
90.01% to 95.00% 125,919,529  51.8  123,414,332  51.3  118,461,030  49.6 
95.01% and above 40,237,999  16.6  38,552,731  16.0  35,599,335  14.9 
Total $ 242,976,043  100.0  % $ 240,669,165  100.0  % $ 238,661,612  100.0  %
Weighted average LTV 93  % 93  % 93  %
Gross RIF by LTV September 30, 2024 June 30, 2024 September 30, 2023
($ in thousands)
85.00% and below $ 1,845,584  2.8  % $ 2,010,864  3.1  % $ 2,525,753  4.0  %
85.01% to 90.00% 15,120,025  22.8  15,238,201  23.3  15,566,095  24.5 
90.01% to 95.00% 37,149,222  56.1  36,405,573  55.8  34,848,762  54.8 
95.01% and above 12,123,161  18.3  11,614,426  17.8  10,664,447  16.7 
Total $ 66,237,992  100.0  % $ 65,269,064  100.0  % $ 63,605,057  100.0  %
Portfolio by Loan Amortization Period
IIF by Loan Amortization Period September 30, 2024 June 30, 2024 September 30, 2023
($ in thousands)
FRM 30 years and higher $ 237,628,900  97.8  % $ 235,138,420  97.7  % $ 232,186,999  97.3  %
FRM 20-25 years 1,199,947  0.5  1,322,021  0.5  1,910,610  0.8 
FRM 15 years 1,191,749  0.5  1,276,780  0.5  1,719,467  0.7 
ARM 5 years and higher 2,955,447  1.2  2,931,944  1.3  2,844,536  1.2 
Total $ 242,976,043  100.0  % $ 240,669,165  100.0  % $ 238,661,612  100.0  %


Exhibit G
Essent Group Ltd. and Subsidiaries
Supplemental Information
Other Risk in Force
2024 2023
($ in thousands) September 30 June 30 March 31 December 31 September 30
GSE and other risk share (1):
Risk in Force $ 2,254,726  $ 2,304,885  $ 2,307,267  $ 2,244,944  $ 2,247,393 
Reserve for losses and LAE $ 37  $ 33  $ 32  $ 29  $ 54 
Weighted average credit score 750  750  750  749  749 
Weighted average LTV 82  % 82  % 82  % 82  % 82  %
(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
September 30, 2024
Insurance in Force
Year Original
Insurance
Written
($ in thousands)		 Remaining
Insurance
in Force
($ in thousands)		 % Remaining of Original
Insurance		 Number of Policies in Force Weighted Average Coupon % Purchase >90% LTV >95% LTV FICO < 700 FICO >= 760 Incurred Loss Ratio (Inception to Date) (1) Number of Loans in Default Percentage of Loans in Default
2010 - 2014 $ 60,668,851  $ 1,010,190  1.7  % 5,566  4.28  % 66.0  % 49.5  % 1.1  % 10.1  % 49.3  % 2.4  % 248  4.46  %
2015 26,193,656  870,740  3.3  5,028  4.29 76.8  60.9  5.7  18.1  40.0  2.2  235  4.67 
2016 34,949,319  2,357,912  6.7  14,050  3.93 86.4  78.0  13.7  16.4  41.3  2.1  450  3.20 
2017 43,858,322  3,784,941  8.6  23,293  4.30 90.8  80.4  23.8  21.4  36.4  3.1  1,037  4.45 
2018 47,508,525  4,857,991  10.2  27,818  4.80 95.1  74.0  27.1  21.9  32.3  4.2  1,314  4.72 
2019 63,569,183  10,717,480  16.9  52,219  4.24 89.1  71.7  25.7  18.9  35.1  3.7  1,687  3.23 
2020 107,944,065  37,929,239  35.1  150,176  3.20 72.1  62.5  14.6  10.8  45.5  2.8  2,452  1.63 
2021 84,218,250  53,029,350  63.0  177,048  3.10 89.0  66.1  16.6  13.8  40.4  6.1  3,420  1.93 
2022 63,061,262  53,154,263  84.3  153,151  5.09 98.1  66.0  11.4  12.6  39.6  17.4  3,091  2.02 
2023 47,666,852  43,012,414  90.2  121,053  6.64 98.8  72.8  18.6  11.0  38.7  18.1  1,732  1.43 
2024 (through September 30) 33,340,364  32,251,523  96.7  86,105  6.84 97.4  73.8  20.0  12.4  42.4  10.1  240  0.28 
Total $ 612,978,649  $ 242,976,043  39.6  815,507  4.79 91.2  68.4  16.6  12.9  40.6  4.6  15,906  1.95 
(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
September 30, 2024
($ in thousands)
Insurance Linked Notes (1)
Earned Premiums Ceded
Deal Name Vintage Remaining
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-Date Reduction in PMIERs Minimum Required
Assets (3)
Radnor Re 2021-1 Aug. 2020 - Mar. 2021 $ 25,750,186  $ 6,963,249  $ 557,911  $ 220,532  $ —  $ 278,956  $ 277,985  $ 2,091  $ 6,564  $ 160,822 
Radnor Re 2021-2 Apr. 2021 - Sep. 2021 31,287,234  8,616,211  439,407  286,439  —  279,415  277,195  3,715  10,952  215,335 
Radnor Re 2022-1 Oct. 2021 - Jul. 2022 28,815,017  7,856,567  237,868  191,938  —  303,761  301,278  3,825  11,478  176,583 
Radnor Re 2023-1 Aug. 2022 - Jun. 2023 28,989,426  7,941,539  281,462  281,462  —  281,463  281,089  3,705  10,657  266,826 
Radnor Re 2024-1 Jul. 2023 - Jul. 2024 30,359,933  8,387,056  363,366  363,366  —  256,495  256,495  472  472  363,366 
Total $ 145,201,796  $ 39,764,622  $ 1,880,014  $ 1,343,737  $ —  $ 1,400,090  $ 1,394,042  $ 13,808  $ 40,123  (5) $ 1,182,932 
Excess of Loss Reinsurance (2)
Earned Premiums Ceded
Deal Name Vintage Remaining
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-Date Reduction in PMIERs Minimum Required
Assets (3)
XOL 2019-1 Jan. 2018 - Dec. 2018 $ 4,811,623  $ 1,266,631  $ 118,650  $ 76,144  $ —  $ 253,643  $ 244,294  $ 641  $ 1,868  $ — 
XOL 2020-1 Jan. 2019 - Aug. 2019 6,026,073  1,591,126  55,102  30,592  —  215,605  212,208  263  809  — 
XOL 2022-1 Oct. 2021 - Dec. 2022 65,149,106  17,727,315  141,992  141,992  —  507,114  500,886  1,611  4,797  138,001 
XOL 2023-1 Jan. 2023 - Dec. 2023 38,402,550  10,637,649  36,627  36,627  —  366,270  366,141  439  1,306  35,232 
XOL 2024-1 Jan. 2024 - Dec. 2024 32,177,995  8,864,366  46,537  46,537  —  265,931  265,931  528  528  44,765 
Total $ 146,567,347  $ 40,087,087  $ 398,908  $ 331,892  $ —  $ 1,608,563  $ 1,589,460  $ 3,482  $ 9,308  $ 217,998 
Quota Share Reinsurance (2)
Losses Ceded Ceding Commission Earned Premiums Ceded
Year Ceding Percentage Remaining
Insurance
in Force		 Remaining
Risk
in Force		 Remaining Ceded Insurance in Force Remaining Ceded Risk in Force Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Reduction in PMIERs Minimum Required
Assets (3)
Sep. 2019 - Dec. 2020 (4) $ 42,414,942  $ 11,536,848  $ 9,585,777  $ 2,572,717  $ 645  $ (146) $ 2,719  $ 7,364  $ 4,646  $ 12,450  $ 141,312 
Jan. 2022 - Dec. 2022 20% 53,084,698  14,433,907  10,616,940  2,886,781  2,261  3,516  1,850  5,634  5,776  14,221  212,195 
Jan. 2023 - Dec. 2023 17.5% 38,282,838  10,608,139  6,699,497  1,856,424  2,031  4,492  1,330  4,045  4,825  12,987  143,807 
Jan. 2024 - Dec. 2024 15% 32,205,363  8,872,008  4,830,804  1,330,801  557  717  793  1,302  2,263  3,515  94,807 
Total $ 165,987,841  $ 45,450,902  $ 31,733,018  $ 8,646,723  $ 5,494  $ 8,579  $ 6,692  $ 18,345  $ 17,510  $ 43,173  $ 592,121 
(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 ($11) and ($80) of benefit in ceded premium on retired ILNs for the three and nine months ended September 30, 2024, respectively.


Exhibit J
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Portfolio Geographic Data
IIF by State
September 30, 2024 June 30, 2024 September 30, 2023
CA 12.5  % 12.7  % 13.0  %
FL 11.8  11.6  11.0 
TX 10.9  10.8  10.5 
CO 4.1  4.1  4.1 
AZ 3.8  3.8  3.7 
GA 3.7  3.6  3.4 
WA 3.4  3.4  3.4 
NC 3.0  3.0  2.8 
OH 2.6  2.6  2.6 
IL 2.6  2.7  2.8 
All Others 41.6  41.7  42.7 
Total 100.0  % 100.0  % 100.0  %
Gross RIF by State
September 30, 2024 June 30, 2024 September 30, 2023
CA 12.5  % 12.6  % 12.9  %
FL 12.0  11.8  11.3 
TX 11.2  11.1  10.8 
CO 4.0  4.1  4.0 
AZ 3.9  3.8  3.8 
GA 3.8  3.7  3.5 
WA 3.4  3.4  3.4 
NC 3.0  3.0  2.9 
OH 2.6  2.5  2.6 
IL 2.5  2.6  2.8 
All Others 41.1  41.4  42.0 
Total 100.0  % 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
2024 2023
September 30 June 30 March 31 December 31 September 30
Beginning default inventory 13,954  13,992  14,819  13,391  12,480 
Plus: new defaults (A)
 9,984  8,119  8,260  9,007  7,953 
Less: cures (7,819) (7,956) (8,951) (7,418) (6,902)
Less: claims paid (182) (183) (123) (148) (129)
Less: rescissions and denials, net (31) (18) (13) (13) (11)
Ending default inventory 15,906  13,954  13,992  14,819  13,391 
(A) New defaults remaining as of September 30, 2024
 7,189  3,198  1,665  1,309  806 
        Cure rate (1)
 28  % 61  % 80  % 85  % 90  %
Total amount paid for claims (in thousands) $ 5,749  $ 5,566  $ 3,605  $ 3,411  $ 2,956 
Average amount paid per claim (in thousands) $ 32  $ 30  $ 29  $ 22  $ 23 
Severity 58  % 60  % 65  % 62  % 66  %
Rollforward of Reserve for Losses and LAE
Three Months Ended
2024 2023
($ in thousands) September 30 June 30 March 31 December 31 September 30
Reserve for losses and LAE at beginning of period $ 246,107  $ 253,565  $ 245,402  $ 226,617  $ 216,888 
Less: Reinsurance recoverables 26,022  26,570  24,005  20,656  17,958 
Net reserve for losses and LAE at beginning of period 220,085  226,995  221,397  205,961  198,930 
Add provision for losses and LAE occurring in:
Current period 51,649  30,653  39,396  38,922  35,609 
Prior years (21,836) (31,880) (30,062) (19,912) (25,533)
Incurred losses and LAE during the period 29,813  (1,227) 9,334  19,010  10,076 
Deduct payments for losses and LAE occurring in:
Current period 637  478  1  330  156 
Prior years 5,202  5,205  3,735  3,244  2,889 
Loss and LAE payments during the period 5,839  5,683  3,736  3,574  3,045 
Net reserve for losses and LAE at end of period 244,059  220,085  226,995  221,397  205,961 
Plus: Reinsurance recoverables 30,867  26,022  26,570  24,005  20,656 
Reserve for losses and LAE at end of period $ 274,926  $ 246,107  $ 253,565  $ 245,402  $ 226,617 
(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
September 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 less 8,293  52  % $ 53,849  21  % $ 627,505  9  %
Four to eleven payments 5,498  35  104,223  41  437,515  24 
Twelve or more payments 1,980  12  86,821  35  144,396  60 
Pending claims 135  1  8,620  3  9,692  89 
Total case reserves 15,906  100  % 253,513  100  % $ 1,219,108  21  %
IBNR 19,013 
LAE 2,400 
Total reserves for losses and LAE $ 274,926 
Average reserve per default:
Case $ 15.9 
Total $ 17.3 
Default Rate 1.95%
December 31, 2023
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 less 7,288  49  % $ 44,607  20  % $ 527,419  8  %
Four to eleven payments 5,421  37  97,424  43  417,876  23 
Twelve or more payments 1,984  13  78,540  35  132,257  59 
Pending claims 126  1  5,550  2  6,302  88 
Total case reserves 14,819  100  % 226,121  100  % $ 1,083,854  21  %
IBNR 16,959 
LAE 2,322 
Total reserves for losses and LAE $ 245,402 
Average reserve per default:
Case $ 15.3 
Total $ 16.6 
Default Rate 1.80%
September 30, 2023
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 less 6,383  48  % $ 38,412  18  % $ 448,039  9  %
Four to eleven payments 4,877  36  87,025  42  369,711  24 
Twelve or more payments 1,989  15  77,369  37  126,317  61 
Pending claims 142  1  6,076  3  6,924  88 
Total case reserves 13,391  100  % 208,882  100  % $ 950,991  22  %
IBNR 15,666 
LAE 2,069 
Total reserves for losses and LAE $ 226,617 
Average reserve per default:
Case $ 15.6 
Total $ 16.9 
Default Rate 1.62%




Exhibit M
Essent Group Ltd. and Subsidiaries
Supplemental Information
Investments Available for Sale
Investments Available for Sale by Asset Class
Asset Class September 30, 2024 December 31, 2023
($ in thousands) Fair Value Percent Fair Value Percent
U.S. Treasury securities $ 709,807  11.9  % $ 996,382  18.9  %
U.S. agency securities —  —  7,195  0.1 
U.S. agency mortgage-backed securities 1,051,308  17.7  821,346  15.6 
Municipal debt securities 577,647  9.8  547,258  10.5 
Non-U.S. government securities 72,971  1.2  67,447  1.3 
Corporate debt securities 1,704,388  28.6  1,297,055  24.7 
Residential and commercial mortgage securities 503,980  8.5  517,940  9.8 
Asset-backed securities 548,076  9.2  564,995  10.7 
Money market funds 782,322  13.1  444,121  8.4 
Total investments available for sale $ 5,950,499  100.0  % $ 5,263,739  100.0  %
Investments Available for Sale by Credit Rating
Rating (1)
 September 30, 2024 December 31, 2023
($ in thousands) Fair Value Percent Fair Value Percent
Aaa $ 2,541,407  49.2  % $ 2,561,363  53.2  %
Aa1 103,522  2.0  104,474  2.2 
Aa2 286,304  5.5  291,501  6.0 
Aa3 247,669  4.7  208,882  4.3 
A1 510,486  9.9  377,188  7.8 
A2 391,018  7.6  329,423  6.8 
A3 424,218  8.2  253,081  5.3 
Baa1 227,741  4.4  220,901  4.6 
Baa2 200,539  3.9  226,449  4.7 
Baa3 158,288  3.1  166,121  3.4 
Below Baa3 76,985  1.5  80,235  1.7 
Total (2)
 $ 5,168,177  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 $782,322 and $444,121 of money market funds at September 30, 2024 and December 31, 2023, respectively.
Investments Available for Sale by Duration and Book Yield
Effective Duration September 30, 2024 December 31, 2023
($ in thousands) Fair Value Percent Fair Value Percent
< 1 Year $ 1,829,657  30.7  % $ 1,892,074  35.9  %
1 to < 2 Years 501,569  8.4  371,583  7.1 
2 to < 3 Years 506,047  8.5  538,775  10.2 
3 to < 4 Years 499,816  8.4  402,668  7.6 
4 to < 5 Years 417,500  7.0  376,722  7.2 
5 or more Years 2,195,910  37.0  1,681,917  32.0 
Total investments available for sale $ 5,950,499  100.0  % $ 5,263,739  100.0  %
Pre-tax investment income yield:
Three months ended 3.81  %
Nine months ended September 30, 2024 3.77  %
Holding company net cash and investments available for sale:
($ in thousands)
As of September 30, 2024 $ 991,151 
As of December 31, 2023 $ 693,507 


Exhibit N
Essent Group Ltd. and Subsidiaries
Supplemental Information
U.S. Mortgage Insurance Company Capital
2024 2023
September 30 June 30 March 31 December 31 September 30
($ in thousands)
U.S. Mortgage Insurance Subsidiaries:
Combined statutory capital (1)
 $ 3,584,580  $ 3,530,462  $ 3,453,553  $ 3,376,117  $ 3,309,522 
Combined net risk in force (2)
 $ 34,893,957  $ 34,812,227  $ 34,463,082  $ 34,549,500  $ 34,203,678 
Risk-to-capital ratios: (3)
Essent Guaranty, Inc. 10.0:1 10.2:1 10.3:1 10.6:1 10.7:1
Essent Guaranty of PA, Inc. 0.3:1 0.3:1 0.4:1 0.4:1 0.5:1
Combined (4)
 9.7:1 9.9:1 10.0:1 10.2:1 10.3:1
Essent Guaranty, Inc. PMIERs Data (5):
Available Assets $ 3,598,725  $ 3,513,609  $ 3,464,119  $ 3,379,936  $ 3,318,179 
Minimum Required Assets 1,903,473  2,052,135  1,999,928  1,985,545  1,910,659 
PMIERs excess Available Assets $ 1,695,252  $ 1,461,474  $ 1,464,191  $ 1,394,391  $ 1,407,520 
PMIERs sufficiency ratio (6)
 189  % 171  % 173  % 170  % 174  %
Essent Reinsurance Ltd.:
Stockholder's equity (GAAP basis) $ 1,826,901  $ 1,793,777  $ 1,793,005  $ 1,758,665  $ 1,684,122 
Net risk in force (2)
 $ 23,003,846  $ 22,770,165  $ 22,271,316  $ 22,043,926  $ 21,739,419 
(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
2024 2023
September 30 June 30 March 31 December 31 September 30
Loss Ratio (1) 12.2  % (0.1) % 4.0  % 7.9  % 4.4  %
Expense Ratio (2) 26.5  % 26.1  % 27.1  % 27.0  % 27.3  %
Combined Ratio 38.7  % 26.0  % 31.1  % 34.9  % 31.7  %
Underwriting Margin (3) 61.3  % 74.0  % 68.9  % 65.1  % 68.3  %
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 nine months ended September 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 nine months ended September 30, 2024 in accordance with Regulation G:
Three Months Ended
September 30, 2024		 Nine Months Ended
September 30, 2024
Consolidated Title Excluding Title Consolidated Title Excluding Title
($ in thousands)
Revenues:
Net premiums earned $ 248,936  $ 17,687  $ 231,249  $ 746,417  $ 49,604  $ 696,813 
Net investment income 57,340  809  56,531  165,511  2,365  163,146 
Realized investment gains (losses), net 68  —  68  (2,236) —  (2,236)
Income from other invested assets 2,820  —  2,820  486  —  486 
Settlement services (4)
 3,237  3,237  —  6,074  6,074  — 
Other income 4,177  473  3,704  11,625  1,354  10,271 
Total revenues 316,578  22,206  294,372  927,877  59,397  868,480 
Losses and expenses:
Provision for losses and LAE 30,666  850  29,816  40,245  2,317  37,928 
Other underwriting and operating expenses (5)
 57,259  14,845  42,414  170,595  39,564  131,031 
Premiums retained by agents 9,622  9,622  —  29,328  29,328  — 
Interest expense 11,457  —  11,457  27,168  —  27,168 
Total losses and expenses 109,004  25,317  83,687  267,336  71,209  196,127 
Loss ratio (1) 12.2  % 4.1  % 12.9  % 5.3  % 4.2  % 5.4  %
Expense ratio (2) 26.5  % 116.9  % 18.3  % 26.6  % 123.7  % 18.8  %
Combined ratio 38.7  % 121.0  % 31.2  % 31.9  % 127.9  % 24.2  %
Underwriting Margin (3) 61.3  % (21.0  %) 68.8  % 68.1  % (27.9  %) 75.8  %
(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.