Essent Group Ltd. reported its financial results for the third quarter of 2025, revealing a net income of $164.2 million, a decrease from $176.2 million in the same period last year. For the nine months ending September 30, 2025, net income totaled $535.0 million, down from $561.5 million in 2024. The company's total revenues for the third quarter were $311.8 million, slightly lower than $316.6 million in the prior year, while revenues for the nine-month period increased to $948.5 million from $927.9 million. The decline in net income was attributed to a higher provision for losses and lower other income, despite an increase in net investment income.
The company experienced a decrease in net premiums written, which totaled $241.8 million for the third quarter, compared to $243.0 million in 2024. For the nine-month period, net premiums written were $721.6 million, down from $727.1 million. The decrease in premiums was influenced by a rise in ceded premiums due to higher losses under third-party reinsurance arrangements. The average net premium rate remained stable at 0.35% for both the third quarter and the nine months ended September 30, 2025.
Essent Group's operational metrics showed a total insurance in force (IIF) of $248.8 billion as of September 30, 2025, an increase from $243.0 billion a year earlier. The company reported new insurance written (NIW) of approximately $12.2 billion for the third quarter, down from $12.5 billion in 2024, while NIW for the nine months was $34.7 billion, up from $33.3 billion. The persistency rate, which measures the percentage of IIF remaining on the books after a year, was reported at 86.0%.
Strategically, Essent Group has expanded its offerings through acquisitions, including Agents National Title Insurance Company and Boston National Holdings LLC, which have allowed the company to provide title insurance products and services. As of September 30, 2025, the company employed 510 individuals, reflecting a stable workforce. The company also maintained a strong liquidity position with cash and investments totaling $6.5 billion, including $91.4 million in cash.
Looking ahead, Essent Group anticipates continued challenges in the mortgage insurance market due to elevated interest rates and economic conditions affecting home sales and mortgage originations. The company remains focused on maintaining compliance with regulatory requirements and enhancing its capital position, with a risk-to-capital ratio of 8.9:1 as of September 30, 2025, well within the regulatory limits.
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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