Overview

* Essent Group ( ESNT ) Q2 net income declines to $195.3 mln from $203.6 mln yr/yr

* New insurance written in Q2 remains steady at $12.5 bln

Outlook

* Essent Group ( ESNT ) emphasizes strong capital position for future shareholder returns

Result Drivers

* CREDIT STRENGTH - Co attributes Q2 results to continued strength in credit and elevated portfolio persistency, per CEO Mark A. Casale

* INVESTMENT INCOME - Increased investment income contributed to Q2 financial performance

* REINSURANCE AGREEMENTS - Entered into two excess of loss reinsurance agreements covering 20% of eligible policies for 2025 and 2026

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $274.87

Direct mln

Premiums

Written

Q2 Net $195.34

Income mln

Q2 $231.18

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy"

* Wall Street's median 12-month price target for Essent Group Ltd ( ESNT ) is $65.00, about 12.3% above its August 7 closing price of $57.02

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)