ESNT Essent Group (ESNT) Q1 FY26 earnings call
Essent Group delivered strong financial results in Q1 FY26, driven by favorable credit performance and investment income, despite a continued pause in the housing market. The company is strategically expanding its P&C reinsurance platform and investing in its Title business, leveraging its robust cash flow and capital position to pursue diversified growth opportunities and return capital to shareholders, while maintaining a disciplined approach to underwriting and capital allocation.
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ESNT operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Insurance in force | $248BAs of March 31, our mortgage insurance in force was $248 billion, a 1% increase versus a year ago.Source: earnings call transcript | $250BIn our MI business, as of June 30, our insurance in force was $250 billion, a 1% increase versus a year ago.Source: earnings call transcript | +0.8% |
| 12-month persistency | 84.7%12-month persistency was 84.7%, reflecting the ongoing impact of the rate environment.Source: earnings call transcript | 84%12-month persistency was 84%, reflecting the current rate environment and that nearly half of our in-force portfolio has a mortgage rate of 5.5% or lower.Source: earnings call transcript | -0.7 pt |
| Weighted average FICO | 747Credit quality of our insurance in force remains strong, with a weighted average FICO of 747 and a weighted average original LTV of 93%.Source: earnings call transcript | 747The credit quality of our insurance in force remains strong with a weighted average credit score of 747 and a weighted average of original LTV of 93%.Source: earnings call transcript | 0% |
| Weighted average original LTV | 93%Credit quality of our insurance in force remains strong, with a weighted average FICO of 747 and a weighted average original LTV of 93%.Source: earnings call transcript | 93%The credit quality of our insurance in force remains strong with a weighted average credit score of 747 and a weighted average of original LTV of 93%.Source: earnings call transcript | 0 pt |
| Insurance in force Mortgage Insurance | $247.9BOur mortgage insurance portfolio ended the first quarter with insurance in force of $247.9 billion, essentially flat compared to December 31 and an increase of $3.2 billion, or 1.3% compared to $244.7 billion at March 31, 2025.Source: earnings call transcript | $249.7BOur mortgage insurance portfolio ended the second quarter with insurance in force of $249.7 billion, an increase of $1.8 billion from March 31, an increase of $2.9 billion or 1.2% compared to $246.8 billion at June 30, 2025.Source: earnings call transcript | +0.7% |
| Default rate Mortgage Insurance | 2.54%At March 31, the default rate on the mortgage insurance portfolio was 2.54%, essentially unchanged from December 31, 2025.Source: earnings call transcript | 2.53%At June 30, the default rate on the mortgage insurance portfolio was 2.53%, essentially unchanged from March 31, 2026.Source: earnings call transcript | 0 pt |
| Risk-to-capital ratio Essent Guaranty | 8.6At quarter end, Essent Guaranty's statutory capital was $3.7 billion with a risk-to-capital ratio of 8.6 to 1.Source: earnings call transcript | 8.5At quarter end, Essent Guaranty's statutory capital was $3.7 billion with a risk-to-capital ratio of 8.5:1.Source: earnings call transcript | -1.2% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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