Enact Holdings, Inc. reported a net income of $674.2 million for the fiscal year ending December 31, 2025, a slight decrease of 2% from $688.1 million in 2024. The company's total revenues increased by 3% to $1.24 billion, driven primarily by a marginal rise in premiums, which reached $980.5 million, and a notable 11% increase in net investment income to $266.2 million. However, losses incurred surged to $109.5 million, up 183% from the previous year, reflecting a higher claim rate amid economic uncertainties.
The company’s new insurance written (NIW) totaled $51.5 billion in 2025, marking a 1% increase from $51.0 billion in 2024. This growth was attributed to a stable mortgage origination market, although the persistency rate for primary insurance decreased to 82% from 83% in 2024. Enact's primary insurance in-force rose to $273.1 billion, a 2% increase from the previous year, indicating a solid customer base of approximately 950,670 policies. The company maintained a strong capital position, with available assets of $5.0 billion against required assets of $3.1 billion under the Private Mortgage Insurer Eligibility Requirements (PMIERs).
Strategically, Enact has focused on enhancing its risk management through a robust credit risk transfer (CRT) program, which mitigates loss volatility and supports capital management. The company executed several reinsurance transactions, including a quota share agreement that cedes approximately 34% of its expected new insurance written for 2027. Additionally, Enact has been proactive in returning capital to shareholders, with a quarterly dividend of $0.21 per share declared for the first quarter of 2026, following a series of share repurchase programs totaling $350 million authorized in 2025.
Operationally, Enact's workforce comprised 419 employees as of December 31, 2025, with a focus on maintaining a diverse and skilled team to support its mortgage insurance operations. The company continues to navigate a competitive landscape, facing challenges from both private mortgage insurers and government entities like the FHA and VA. The outlook for 2026 remains cautiously optimistic, with expectations of continued revenue growth driven by strategic initiatives and a favorable economic environment, although potential regulatory changes and market conditions could impact future performance.
About Enact Holdings, Inc.
Enact Holdings, Inc. is a leading private mortgage insurance provider in the U.S., supporting the housing finance system since 1981. It offers primary and pool mortgage insurance to protect lenders and investors against losses on low down payment loans, facilitating secondary market sales. The company serves a diverse customer base, leveraging advanced risk modeling, reinsurance strategies, and technology to deliver competitive, risk-adjusted solutions.
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