Essent Group Reports First Quarter Results
Bermuda-based Essent Group Ltd. reported net income for the quarter ended March 31, 2019 of $127.7 million or $1.30 per diluted share, compared to $111.1 million or $1.13 per diluted share for the quarter ended March 31, 2018. As of March 31, 2019, Essent had insurance in force of $143.2 billion and consolidated stockholders’ equity of $2.5 billion.
“We were pleased with our strong financial results for the first quarter as our operating environment remains favorable and credit continues to perform well,” said Mark Casale, Chairman and Chief Executive Officer.
“Also, we continue to make solid progress in strengthening our franchise as we successfully rolled out our risk based pricing engine EssentEDGE and reinsured our 2018 NIW. Our outlook on our business and housing remains positive and we continue to believe that we are well positioned to continue growing our company.”
