Essent Group Ltd. reported a total revenue of $362.7 million for the second quarter of 2026, marking a 13.6% increase from $319.1 million in the same period of 2025. The growth was primarily driven by a significant rise in net premiums written, which reached $307.3 million, up from $241.5 million year-over-year. For the first half of 2026, total revenues amounted to $698.8 million, compared to $636.7 million in the first half of 2025. However, net income for the second quarter decreased slightly to $189.7 million from $195.3 million in the prior year, while net income for the first half of 2026 was $361.5 million, down from $370.8 million in 2025.
The company experienced notable changes in its financial metrics compared to the previous fiscal period. The provision for losses and loss adjustment expenses (LAE) surged to $49.0 million in the second quarter, up from $17.1 million in the same quarter of 2025, reflecting an increase in claims associated with the aging of defaults in the mortgage insurance portfolio. Additionally, other underwriting and operating expenses rose to $75.3 million from $62.8 million year-over-year, driven by increased operational costs in the reinsurance segment.
Strategically, Essent Group has expanded its operations by entering the property and casualty reinsurance market, which began on January 1, 2026. This move is expected to diversify its revenue streams and enhance its market position. The company also reported a total of 518 employees as of June 30, 2026, indicating a stable workforce as it continues to grow its business segments. The average insurance in force (IIF) increased to $249.7 billion, up from $246.8 billion in the previous year, demonstrating a solid demand for its mortgage insurance products.
In terms of operational performance, Essent Guaranty, the company's primary mortgage insurance subsidiary, reported new insurance written (NIW) of approximately $14.1 billion for the second quarter of 2026, compared to $12.5 billion in the same quarter of 2025. The persistency rate for the mortgage insurance portfolio was 84.0% as of June 30, 2026, indicating a stable retention of policies. The company also maintained compliance with the Private Mortgage Insurer Eligibility Requirements (PMIERs) set by Fannie Mae and Freddie Mac, ensuring its ability to operate effectively in the mortgage insurance market.
Looking ahead, Essent Group anticipates continued challenges due to elevated mortgage interest rates, which may impact home buying and refinancing activities. However, the company remains optimistic about its growth prospects, particularly with the recent expansion into property and casualty reinsurance and the ongoing demand for its mortgage insurance products. The management is committed to evaluating potential investments and acquisitions to further enhance its market position and financial flexibility.
About Essent Group Ltd.
Essent Group Ltd. provides private mortgage insurance, reinsurance, and title insurance services supporting U.S. homeownership. Its core business includes insuring residential first-lien mortgages, reinsuring mortgage risk, and offering title and settlement services. Serving mortgage lenders, investors, and borrowers, the company enhances market liquidity, mitigates credit risk, and promotes affordable housing through its diversified, risk-managed business model in the U.S. housing finance industry.
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