Essent Group Ltd. Announces Second Quarter 2025 Results and Declares Quarterly Dividend

Essent Group Ltd. Announces Second Quarter 2025 Results and Declares Quarterly Dividend August 08, 2025 6:30 AM Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended June 30, 2025 of $195.3 million or $1.93 per diluted share, compared to $203.6 million or $1.91 per diluted share for the quarter ended June 30, 2024. Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.31 per common share. The dividend is payable on September 10, 2025, to shareholders of record on August 29, 2025. “We are pleased with our second quarter 2025 financial results, which reflect continued strength in credit, elevated portfolio persistency and increased investment income,” said Mark A. Casale, Chairman and Chief Executive Officer. “Essent’s consistent execution and resilient operating model continue to drive high-quality earnings and growth in book value per share. Our capital position remains strong, and we remain committed to deploying capital efficiently to enhance shareholder returns and support long-term value creation.” Financial Highlights: New insurance written for the second quarter of 2025 was $12.5 billion, compared to $9.9 billion in the first quarter of 2025 and $12.5 billion in the second quarter of 2024.Insurance in force as of June 30, 2025 was $246.8 billion, compared to $244.7 billion as of March 31, 2025 and $240.7 billion as of June 30, 2024.Net investment income for the first half of 2025 was $117.5 million, up 9% from the first half of 2024.On August 6, 2025, Moody's Ratings upgraded the insurance financial strength rating of Essent Guaranty, Inc. to A2 from A3 and the senior unsecured debt rating of Essent Group Ltd. to Baa2 from Baa3. At the same time, the rating outlook for these entities was revised to stable.As previously disclosed, during the second quarter of 2025, Essent entered into two excess of loss reinsurance agreements with panels of highly rated third-party reinsurers. These agreements cover 20% of all eligible policies written by Essent Guaranty, Inc. in calendar years 2025 and 2026, effective July 1 of each year.Also, as previously disclosed, during the second quarter of 2025, Essent Guaranty, Inc. increased the ceding percentage on our affiliate quota share with Essent Reinsurance Ltd. from 35% to 50% retroactive to new insurance written from January 1, 2025.Year-to-date through July 31st, Essent has repurchased 6.8 million common shares for $387 million. As of July 31st, $260 million remains under the $500 million repurchase plan authorized by the Board in February 2025. Conference Call: Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results. The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and-presentations/events/default.aspx. The call may also be accessed by dialing 888-330-2384 inside the U.S., or 240-789-2701 for international callers, using passcode 9824537 or by referencing Essent. A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800-770-2030 inside the U.S., or 647-362-9199 for international callers, passcode 9824537. In addition to the information provided in the Company's earnings news release, other statistical and financial information, which may be referred to during the conference call, will be available on Essent's website at http://ir.essentgroup.com/financials/quarterly-results/default.aspx. Forward-Looking Statements: This press release may include “forward-looking statements” which are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," “should,” “expect,” "plan," "anticipate," "believe," “estimate,” “predict,” or "potential" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers or the loss of a significant customer; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs; decline in the volume of low down payment mortgage originations; uncertainty of loss reserve estimates; decrease in the length of time our insurance policies are in force; deteriorating economic conditions; and other risks and factors described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on February 19, 2025, as subsequently updated through other reports we file with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. About the Company: Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) offering private mortgage insurance, reinsurance, and title insurance and settlement services to serve the housing finance industry. Additional information regarding Essent may be found at www.essentgroup.com. Source: Essent Group Ltd. Essent Group Ltd. and Subsidiaries Financial Results and Supplemental Information (Unaudited) Quarter Ended June 30, 2025 Exhibit A Condensed Consolidated Statements of Comprehensive Income (Unaudited) Exhibit B Condensed Consolidated Balance Sheets (Unaudited) Exhibit C Consolidated Historical Quarterly Data Exhibit D U.S. Mortgage Insurance Portfolio Historical Quarterly Data Exhibit E New Insurance Written - U.S. Mortgage Insurance Portfolio Exhibit F Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio Exhibit G Other Risk in Force Exhibit H U.S. Mortgage Insurance Portfolio Vintage Data Exhibit I U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data Exhibit J U.S. Mortgage Insurance Portfolio Geographic Data Exhibit K Rollforward of Defaults and Reserve for Losses and LAE - U.S. Mortgage Insurance Portfolio Exhibit L Detail of Reserves by Default Delinquency - U.S. Mortgage Insurance Portfolio Exhibit M Investments Available for Sale Exhibit N U.S. Mortgage Insurance Company Capital Exhibit O Historical Quarterly Segment Information Exhibit A Essent Group Ltd. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2025 2024 2025 2024 Revenues: Direct premiums written $ 274,872 $ 272,910 $ 547,266 $ 541,841 Ceded premiums (33,384 ) (27,344 ) (67,507 ) (57,735 ) Net premiums written 241,488 245,566 479,759 484,106 Decrease in unearned premiums 7,321 6,325 14,898 13,375 Net premiums earned 248,809 251,891 494,657 497,481 Net investment income 59,289 56,086 117,499 108,171 Realized investment gains (losses), net (129 ) (1,164 ) (310 ) (2,304 ) Income (loss) from other invested assets 4,466 (419 ) 11,874 (2,334 ) Other income 6,708 6,548 12,981 10,285 Total revenues 319,143 312,942 636,701 611,299 Losses and expenses: Provision (benefit) for losses and LAE 17,055 (334 ) 48,342 9,579 Other underwriting and operating expenses 62,765 66,202 133,889 133,042 Interest expense 8,148 7,849 16,296 15,711 Total losses and expenses 87,968 73,717 198,527 158,332 Income before income taxes 231,175 239,225 438,174 452,967 Income tax expense 35,836 35,616 67,402 67,639 Net income $ 195,339 $ 203,609 $ 370,772 $ 385,328 Earnings per share: Basic $ 1.95 $ 1.93 $ 3.65 $ 3.65 Diluted 1.93 1.91 3.62 3.61 Weighted average shares outstanding: Basic 100,037 105,657 101,451 105,677 Diluted 101,059 106,778 102,495 106,774 Net income $ 195,339 $ 203,609 $ 370,772 $ 385,328 Other comprehensive income (loss): Change in unrealized appreciation (depreciation) of investments 16,580 (5,375 ) 88,318 (27,141 ) Total other comprehensive income (loss) 16,580 (5,375 ) 88,318 (27,141 ) Comprehensive income $ 211,919 $ 198,234 $ 459,090 $ 358,187 Exhibit B Essent Group Ltd. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) June 30, December 31, (In thousands, except per share amounts) 2025 2024 Assets Investments Fixed maturities available for sale, at fair value $ 5,383,504 $ 5,112,697 Short-term investments available for sale, at fair value 583,033 764,024 Total investments available for sale 5,966,537 5,876,721 Other invested assets 359,823 303,900 Total investments 6,326,360 6,180,621 Cash 92,116 131,480 Accrued investment income 45,940 43,732 Accounts receivable 52,340 55,564 Deferred policy acquisition costs 9,237 9,653 Property and equipment 42,434 41,871 Prepaid federal income tax 497,356 489,600 Goodwill and acquired intangible assets, net 78,855 79,556 Other assets 75,923 79,572 Total assets $ 7,220,561 $ 7,111,649 Liabilities and Stockholders' Equity Liabilities Reserve for losses and LAE $ 364,749 $ 328,866 Unearned premium reserve 102,382 115,983 Net deferred tax liability 427,202 392,428 Senior notes due 2029, net 494,630 493,959 Other accrued liabilities 158,750 176,755 Total liabilities 1,547,713 1,507,991 Commitments and contingencies Stockholders' Equity Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 99,556 shares in 2025 and 105,015 shares in 2024 1,493 1,575 Additional paid-in capital 888,337 1,214,956 Accumulated other comprehensive loss (215,666 ) (303,984 ) Retained earnings 4,998,684 4,691,111 Total stockholders' equity 5,672,848 5,603,658 Total liabilities and stockholders' equity $ 7,220,561 $ 7,111,649 Return on average equity (1) 13.2 % 13.6 % (1) The 2025 return on average equity is calculated by dividing annualized year-to-date 2025 net income by average equity. The 2024 return on average equity is calculated by dividing full year 2024 net income by average equity. Exhibit C Essent Group Ltd. and Subsidiaries Supplemental Information Consolidated Historical Quarterly Data 2025 2024 Selected Income Statement Data June 30 March 31 December 31 September 30 June 30 (In thousands, except per share amounts) Revenues: Net premiums earned: U.S. Mortgage Insurance Portfolio $ 220,261 $ 218,125 $ 211,683 $ 214,119 $ 217,513 GSE and other risk share 13,646 15,505 16,180 17,130 17,745 Title insurance 14,902 12,218 16,602 17,687 16,633 Net premiums earned 248,809 245,848 244,465 248,936 251,891 Net investment income 59,289 58,210 56,559 57,340 56,086 Realized investment gains (losses), net (129 ) (181 ) (114 ) 68 (1,164 ) Income (loss) from other invested assets 4,466 7,408 6,889 2,820 (419 ) Other income (1) 6,708 6,273 7,228 7,414 6,548 Total revenues 319,143 317,558 315,027 316,578 312,942 Losses and expenses: Provision (benefit) for losses and LAE 17,055 31,287 40,975 30,666 (334 ) Other underwriting and operating expenses 62,765 71,124 70,951 66,881 66,202 Interest expense 8,148 8,148 8,151 11,457 7,849 Total losses and expenses 87,968 110,559 120,077 109,004 73,717 Income before income taxes 231,175 206,999 194,950 207,574 239,225 Income tax expense (2) 35,836 31,566 27,050 31,399 35,616 Net income $ 195,339 $ 175,433 $ 167,900 $ 176,175 $ 203,609 Earnings per share: Basic $ 1.95 $ 1.71 $ 1.60 $ 1.67 $ 1.93 Diluted 1.93 1.69 1.58 1.65 1.91 Weighted average shares outstanding: Basic 100,037 102,881 104,963 105,266 105,657 Diluted 101,059 103,946 106,104 106,554 106,778 Book value per share $ 56.98 $ 55.22 $ 53.36 $ 53.11 $ 50.58 Return on average equity (annualized) 13.8 % 12.5 % 11.9 % 12.8 % 15.4 % Borrowings Borrowings outstanding $ 500,000 $ 500,000 $ 500,000 $ 500,000 $ 425,000 Undrawn committed capacity $ 500,000 $ 500,000 $ 500,000 $ 500,000 $ 400,000 Weighted average interest rate (end of period) 6.25 % 6.25 % 6.25 % 6.25 % 7.07 % Debt-to-capital 8.10 % 8.12 % 8.19 % 8.14 % 7.32 % (1) Other income includes net favorable (unfavorable) changes in the fair value of embedded derivatives associated with certain of our third-party reinsurance agreements, which for the quarters ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024 were ($29), ($150), $204, ($1,173), and $732, respectively. (2) Income tax expense for the quarters ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024 includes $1,112, $1,561, $1,591, $475, and $556, respectively, of discrete tax expense associated with realized and unrealized gains. Income tax expense for the quarter ended March 31, 2025 also includes ($742) of excess tax benefits associated with the vesting of common shares and common share units. Exhibit D Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Historical Quarterly Data 2025 2024 Other Data: June 30 March 31 December 31 September 30 June 30 ($ in thousands) U.S. Mortgage Insurance Portfolio New insurance written $ 12,544,731 $ 9,945,336 $ 12,220,968 $ 12,513,695 $ 12,503,125 New risk written $ 3,357,820 $ 2,698,639 $ 3,297,296 $ 3,437,465 $ 3,449,623 Average insurance in force $ 245,747,813 $ 244,005,459 $ 243,236,830 $ 242,065,632 $ 239,538,571 Insurance in force (end of period) $ 246,797,619 $ 244,692,492 $ 243,645,423 $ 242,976,043 $ 240,669,165 Gross risk in force (end of period) (1) $ 67,683,239 $ 67,026,626 $ 66,613,517 $ 66,237,992 $ 65,269,064 Risk in force (end of period) $ 56,811,096 $ 56,565,811 $ 56,477,150 $ 55,915,640 $ 55,521,538 Policies in force 812,182 811,342 813,013 815,507 814,237 Weighted average coverage (2) 27.4 % 27.4 % 27.3 % 27.3 % 27.1 % Annual persistency 85.8 % 85.7 % 85.7 % 86.6 % 86.7 % Loans in default (count) 17,255 17,759 18,439 15,906 13,954 Percentage of loans in default 2.12 % 2.19 % 2.27 % 1.95 % 1.71 % U.S. Mortgage Insurance Portfolio premium rate: Base average premium rate (3) 0.41 % 0.41 % 0.41 % 0.41 % 0.41 % Single premium cancellations (4) — % — % — % — % — % Gross average premium rate 0.41 % 0.41 % 0.41 % 0.41 % 0.41 % Ceded premiums (0.05 %) (0.05 %) (0.06 %) (0.06 %) (0.05 %) Net average premium rate 0.36 % 0.36 % 0.35 % 0.35 % 0.36 % (1) Gross risk in force includes risk ceded under third-party reinsurance. (2) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force. (3) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period. (4) Single premium cancellations is calculated by dividing annualized premiums on the cancellation of non-refundable single premium policies by average insurance in force for the period. Exhibit E Essent Group Ltd. and Subsidiaries Supplemental Information - U.S. Mortgage Insurance Portfolio New Insurance Written NIW by Credit Score Three Months Ended Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 ($ in thousands) >=760 $ 6,274,130 50.0 % $ 5,451,182 43.6 % $ 11,016,229 49.0 % $ 9,047,782 43.4 % 740-759 2,008,226 16.0 2,165,026 17.3 3,734,281 16.6 3,575,472 17.2 720-739 1,598,919 12.8 1,819,751 14.6 2,898,918 12.8 3,064,399 14.7 700-719 1,320,817 10.5 1,585,167 12.7 2,485,800 11.1 2,725,597 13.1 680-699 731,994 5.8 870,054 7.0 1,306,651 5.8 1,433,473 6.9 <=679 610,645 4.9 611,945 4.8 1,048,188 4.7 979,946 4.7 Total $ 12,544,731 100.0 % $ 12,503,125 100.0 % $ 22,490,067 100.0 % $ 20,826,669 100.0 % Weighted average credit score 753 748 752 748 NIW by LTV Three Months Ended Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 ($ in thousands) 85.00% and below $ 1,124,637 9.0 % $ 854,349 6.8 % $ 1,863,256 8.3 % $ 1,414,248 6.8 % 85.01% to 90.00% 2,957,886 23.6 2,423,665 19.4 5,236,176 23.3 4,155,796 20.0 90.01% to 95.00% 6,393,500 50.9 6,874,853 55.0 11,669,518 51.9 11,392,508 54.7 95.01% and above 2,068,708 16.5 2,350,258 18.8 3,721,117 16.5 3,864,117 18.5 Total $ 12,544,731 100.0 % $ 12,503,125 100.0 % $ 22,490,067 100.0 % $ 20,826,669 100.0 % Weighted average LTV 93 % 93 % 93 % 93 % NIW by Product Three Months Ended Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Single premium policies 1.3 % 1.3 % 1.4 % 1.6 % Monthly premium policies 98.7 98.7 98.6 98.4 100.0 % 100.0 % 100.0 % 100.0 % NIW by Purchase vs. Refinance Three Months Ended Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Purchase 92.6 % 97.8 % 93.4 % 97.6 % Refinance 7.4 2.2 6.6 2.4 100.0 % 100.0 % 100.0 % 100.0 % Exhibit F Essent Group Ltd. and Subsidiaries Supplemental Information Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio Portfolio by Credit Score IIF by FICO score June 30, 2025 March 31, 2025 June 30, 2024 ($ in thousands) >=760 $ 101,554,517 41.1 % $ 100,017,207 40.9 % $ 97,668,435 40.6 % 740-759 43,146,312 17.5 42,848,390 17.5 41,915,598 17.4 720-739 38,115,925 15.4 37,970,066 15.5 37,678,804 15.7 700-719 32,789,773 13.3 32,765,594 13.4 32,331,564 13.4 680-699 19,666,338 8.0 19,667,828 8.0 19,751,956 8.2 <=679 11,524,754 4.7 11,423,407 4.7 11,322,808 4.7 Total $ 246,797,619 100.0 % $ 244,692,492 100.0 % $ 240,669,165 100.0 % Weighted average credit score 746 746 746 Gross RIF by FICO score June 30, 2025 March 31, 2025 June 30, 2024 ($ in thousands) >=760 $ 27,578,860 40.8 % $ 27,126,072 40.5 % $ 26,238,140 40.2 % 740-759 11,989,491 17.7 11,894,259 17.7 11,525,987 17.7 720-739 10,584,541 15.6 10,535,428 15.7 10,362,021 15.9 700-719 9,136,075 13.5 9,113,238 13.6 8,899,342 13.6 680-699 5,434,287 8.0 5,425,408 8.1 5,382,312 8.2 <=679 2,959,985 4.4 2,932,221 4.4 2,861,262 4.4 Total $ 67,683,239 100.0 % $ 67,026,626 100.0 % $ 65,269,064 100.0 % Portfolio by LTV IIF by LTV June 30, 2025 March 31, 2025 June 30, 2024 ($ in thousands) 85.00% and below $ 14,309,342 5.8 % $ 14,375,166 5.9 % $ 16,927,111 7.0 % 85.01% to 90.00% 59,432,276 24.1 59,985,533 24.5 61,774,991 25.7 90.01% to 95.00% 130,210,803 52.7 128,443,227 52.5 123,414,332 51.3 95.01% and above 42,845,198 17.4 41,888,566 17.1 38,552,731 16.0 Total $ 246,797,619 100.0 % $ 244,692,492 100.0 % $ 240,669,165 100.0 % Weighted average LTV 93 % 93 % 93 % Gross RIF by LTV June 30, 2025 March 31, 2025 June 30, 2024 ($ in thousands) 85.00% and below $ 1,689,437 2.5 % $ 1,701,075 2.5 % $ 2,010,864 3.1 % 85.01% to 90.00% 14,653,527 21.7 14,799,254 22.1 15,238,201 23.3 90.01% to 95.00% 38,402,295 56.7 37,888,529 56.5 36,405,573 55.8 95.01% and above 12,937,980 19.1 12,637,768 18.9 11,614,426 17.8 Total $ 67,683,239 100.0 % $ 67,026,626 100.0 % $ 65,269,064 100.0 % Portfolio by Loan Amortization Period IIF by Loan Amortization Period June 30, 2025 March 31, 2025 June 30, 2024 ($ in thousands) FRM 30 years and higher $ 241,225,436 97.8 % $ 239,398,817 97.8 % $ 235,138,420 97.7 % FRM 20-25 years 1,024,884 0.4 1,042,318 0.4 1,322,021 0.5 FRM 15 years 1,465,011 0.6 1,285,597 0.5 1,276,780 0.5 ARM 5 years and higher 3,082,288 1.2 2,965,760 1.3 2,931,944 1.3 Total $ 246,797,619 100.0 % $ 244,692,492 100.0 % $ 240,669,165 100.0 % Exhibit G Essent Group Ltd. and Subsidiaries Supplemental Information Other Risk in Force 2025 2024 ($ in thousands) June 30 March 31 December 31 September 30 June 30 GSE and other risk share (1): Risk in Force $ 2,321,008 $ 2,220,477 $ 2,240,284 $ 2,254,726 $ 2,304,885 Reserve for losses and LAE $ 88 $ 52 $ 51 $ 37 $ 33 Weighted average credit score 751 751 751 750 750 Weighted average LTV 83 % 82 % 82 % 82 % 82 % (1) GSE and other risk share includes GSE risk share and other reinsurance transactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae. Exhibit H Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Vintage Data June 30, 2025 Insurance in Force Year Original Insurance Written ($ in thousands) Remaining Insurance in Force ($ in thousands) % Remaining of Original Insurance Number of Policies in Force Weighted Average Coupon % Purchase >90% LTV >95% LTV FICO < 700 FICO >= 760 Incurred Loss Ratio (Inception to Date) (1) Number of Loans in Default Percentage of Loans in Default 2010 - 2015 $ 86,862,507 $ 1,602,905 1.8 % 8,846 4.28 % 68.9 % 50.9 % 2.0 % 11.8 % 47.1 % 2.3 % 367 4.15 % 2016 34,949,319 1,371,056 3.9 8,027 4.03 80.3 65.6 18.3 17.7 40.3 2.0 356 4.44 2017 43,858,322 3,133,022 7.1 19,675 4.31 90.5 82.7 25.7 21.1 36.3 2.9 848 4.31 2018 47,508,525 4,164,462 8.8 24,485 4.82 95.1 77.6 28.7 22.4 31.5 3.8 1,118 4.57 2019 63,569,183 9,278,080 14.6 46,606 4.25 89.8 74.1 26.6 19.3 34.4 3.5 1,512 3.24 2020 107,944,065 31,595,082 29.3 128,859 3.21 75.0 66.6 15.7 10.8 45.2 2.7 2,330 1.81 2021 84,218,250 45,343,252 53.8 155,311 3.11 91.2 69.9 17.8 13.8 40.1 6.3 3,489 2.25 2022 63,061,262 48,421,149 76.8 141,804 5.09 98.3 67.0 11.8 12.5 39.5 18.3 3,486 2.46 2023 47,666,852 38,646,995 81.1 110,926 6.61 98.8 73.3 19.1 11.1 38.3 19.7 2,518 2.27 2024 45,561,332 41,260,566 90.6 110,953 6.71 94.9 72.9 20.1 12.2 42.5 16.8 1,179 1.06 2025 (through June 30) 22,490,067 21,981,050 97.7 56,690 6.73 93.4 68.5 16.8 10.6 48.5 5.6 52 0.09 Total $ 647,689,684 $ 246,797,619 38.1 812,182 5.08 92.3 70.1 17.4 12.6 41.1 5.3 17,255 2.12 (1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned. Exhibit I Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data June 30, 2025 ($ in thousands) Insurance Linked Notes (1) Earned Premiums Ceded Deal Name Vintage Remaining Insurance in Force Remaining Risk in Force Original Reinsurance in Force Remaining Reinsurance in Force Losses Ceded to Date Original First Layer Retention Remaining First Layer Retention Quarter-to-Date Year-to-Date Reduction in PMIERs Minimum Required Assets (3) Radnor Re 2021-1 Aug. 2020 - Mar. 2021 $ 21,095,901 $ 5,826,753 $ 557,911 $ 139,755 $ — $ 278,956 $ 277,158 $ 1,390 $ 2,781 $ 100,347 Radnor Re 2021-2 Apr. 2021 - Sep. 2021 26,864,364 7,566,871 439,407 228,819 — 279,415 273,926 3,027 6,056 196,844 Radnor Re 2022-1 Oct. 2021 - Jul. 2022 26,046,456 7,171,205 237,868 146,841 — 303,761 297,208 3,260 6,531 135,094 Radnor Re 2023-1 Aug. 2022 - Jun. 2023 26,469,770 7,268,636 281,462 235,647 — 281,463 278,466 3,111 6,201 223,394 Radnor Re 2024-1 Jul. 2023 - Jul. 2024 27,346,263 7,567,326 363,366 297,147 — 256,495 256,437 2,949 5,883 219,889 Total $ 127,822,754 $ 35,400,791 $ 1,880,014 $ 1,048,209 $ — $ 1,400,090 $ 1,383,195 $ 13,737 $ 27,452 $ 875,568 Excess of Loss Reinsurance (2) Earned Premiums Ceded Deal Name Vintage Remaining Insurance in Force Remaining Risk in Force Original Reinsurance in Force Remaining Reinsurance in Force Losses Ceded to Date Original First Layer Retention Remaining First Layer Retention Quarter-to-Date Year-to-Date Reduction in PMIERs Minimum Required Assets (3) XOL 2019-1 Jan. 2018 - Dec. 2018 $ 4,124,729 $ 1,088,405 $ 118,650 $ 76,144 $ — $ 253,643 $ 242,687 $ 620 $ 1,234 $ — XOL 2020-1 Jan. 2019 - Aug. 2019 5,279,113 1,397,295 55,102 29,152 — 215,605 211,235 249 495 — XOL 2022-1 Oct. 2021 - Dec. 2022 59,046,810 16,186,034 141,992 141,992 — 507,114 489,255 1,593 3,168 137,727 XOL 2023-1 Jan. 2023 - Dec. 2023 34,703,053 9,630,585 36,627 36,627 — 366,270 364,437 434 863 35,219 XOL 2024-1 Jan. 2024 - Dec. 2024 38,318,310 10,531,084 58,005 58,005 — 331,456 331,178 651 1,294 56,081 Total $ 141,472,015 $ 38,833,403 $ 410,376 $ 341,920 $ — $ 1,674,088 $ 1,638,792 $ 3,547 $ 7,054 $ 229,027 Quota Share Reinsurance (2) Losses Ceded Ceding Commission Earned Premiums Ceded Year Ceding Percentage Remaining Insurance in Force Remaining Risk in Force Remaining Ceded Insurance in Force Remaining Ceded Risk in Force Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Reduction in PMIERs Minimum Required Assets (3) Sep. 2019 - Dec. 2020 (4 ) $ 35,510,474 $ 9,763,057 $ 7,333,356 $ 1,988,498 $ (375 ) $ (615 ) $ 2,143 $ 4,394 $ 2,716 $ 5,722 $ 122,703 Jan. 2022 - Dec. 2022 20 % 48,372,212 13,229,819 9,674,442 2,645,964 300 2,519 1,725 3,494 3,578 9,157 196,010 Jan. 2023 - Dec. 2023 17.5 % 34,596,163 9,604,286 6,054,329 1,680,750 1,424 2,642 1,236 2,501 4,020 7,895 133,011 Jan. 2024 - Dec. 2024 15 % 41,020,470 11,255,561 6,153,071 1,688,334 1,551 2,850 1,264 2,551 4,269 8,334 127,142 Jan. 2025 - Dec. 2025 25 % 21,951,004 5,913,873 5,487,751 1,478,468 249 272 686 876 1,517 1,893 97,128 Total $ 181,450,323 $ 49,766,596 $ 34,702,949 $ 9,482,014 $ 3,149 $ 7,668 $ 7,054 $ 13,816 $ 16,100 $ 33,001 $ 675,994 (1) Reinsurance provided by unaffiliated special purpose insurers through the issuance of mortgage insurance-linked notes ("ILNs"). (2) Reinsurance provided by panels of reinsurers. (3) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assets based on our interpretation of the PMIERs. (4) Reinsurance coverage on 40% of eligible single premium policies and 20% of all other eligible policies. Exhibit J Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Geographic Data IIF by State June 30, 2025 March 31, 2025 June 30, 2024 CA 12.3 % 12.4 % 12.7 % FL 12.0 11.9 11.6 TX 11.3 11.2 10.8 CO 4.0 4.0 4.1 AZ 3.9 3.9 3.8 GA 3.8 3.8 3.6 WA 3.4 3.4 3.4 NC 3.1 3.1 3.0 NY 2.6 2.6 2.5 OH 2.6 2.6 2.6 All Others 41.0 41.1 41.9 Total 100.0 % 100.0 % 100.0 % Gross RIF by State June 30, 2025 March 31, 2025 June 30, 2024 CA 12.3 % 12.4 % 12.6 % FL 12.2 12.1 11.8 TX 11.5 11.5 11.1 CO 4.0 4.0 4.1 AZ 4.0 3.9 3.8 GA 3.9 3.8 3.7 WA 3.4 3.4 3.4 NC 3.1 3.1 3.0 MI 2.6 2.6 2.5 UT 2.6 2.5 2.4 All Others 40.4 40.7 41.6 Total 100.0 % 100.0 % 100.0 % Exhibit K Essent Group Ltd. and Subsidiaries Supplemental Information Rollforward of Defaults and Reserve for Losses and LAE U.S. Mortgage Insurance Portfolio Rollforward of Insured Loans in Default Three Months Ended 2025 2024 June 30 March 31 December 31 September 30 June 30 Beginning default inventory 17,759 18,439 15,906 13,954 13,992 Plus: new defaults (A) 8,810 9,664 11,136 9,984 8,119 Less: cures (9,078 ) (10,173 ) (8,408 ) (7,819 ) (7,956 ) Less: claims paid (215 ) (153 ) (183 ) (182 ) (183 ) Less: rescissions and denials, net (21 ) (18 ) (12 ) (31 ) (18 ) Ending default inventory 17,255 17,759 18,439 15,906 13,954 (A) New defaults remaining as of June 30, 2025 6,525 3,309 2,566 1,694 989 Cure rate (1) 26 % 66 % 77 % 83 % 88 % Total amount paid for claims (in thousands) $ 9,007 $ 6,330 $ 7,740 $ 5,749 $ 5,566 Average amount paid per claim (in thousands) $ 42 $ 41 $ 42 $ 32 $ 30 Severity 67 % 70 % 68 % 58 % 60 % Rollforward of Reserve for Losses and LAE Three Months Ended 2025 2024 ($ in thousands) June 30 March 31 December 31 September 30 June 30 Reserve for losses and LAE at beginning of period $ 338,128 $ 310,156 $ 274,926 $ 246,107 $ 253,565 Less: Reinsurance recoverables 40,351 36,655 30,867 26,022 26,570 Net reserve for losses and LAE at beginning of period 297,777 273,501 244,059 220,085 226,995 Add provision for losses and LAE occurring in: Current period 45,119 48,928 50,212 51,649 30,653 Prior years (29,796 ) (18,208 ) (12,976 ) (21,836 ) (31,880 ) Incurred losses and LAE during the period 15,323 30,720 37,236 29,813 (1,227 ) Deduct payments for losses and LAE occurring in: Current period 315 51 1,569 637 478 Prior years 8,799 6,393 6,225 5,202 5,205 Loss and LAE payments during the period 9,114 6,444 7,794 5,839 5,683 Net reserve for losses and LAE at end of period 303,986 297,777 273,501 244,059 220,085 Plus: Reinsurance recoverables 41,966 40,351 36,655 30,867 26,022 Reserve for losses and LAE at end of period $ 345,952 $ 338,128 $ 310,156 $ 274,926 $ 246,107 (1) The cure rate is calculated by dividing new defaults remaining as of the reporting date by the original number of new defaults reported in the quarterly period and subtracting that percentage from 100%. Exhibit L Essent Group Ltd. and Subsidiaries Supplemental Information Detail of Reserves by Default Delinquency U.S. Mortgage Insurance Portfolio June 30, 2025 Number of Policies in Default Percentage of Policies in Default Amount of Reserves Percentage of Reserves Defaulted RIF Reserves as a Percentage of Defaulted RIF ($ in thousands) Missed Payments: Two payments 5,634 33 % $ 29,534 9 % $ 436,738 7 % Three payments 2,375 14 23,028 7 189,938 12 Four to eleven payments 6,644 38 134,497 42 561,051 24 Twelve or more payments 2,388 14 118,154 37 190,189 62 Pending claims 214 1 14,195 5 15,789 90 Total case reserves 17,255 100 % 319,408 100 % $ 1,393,705 23 % IBNR 23,956 LAE 2,588 Total reserves for losses and LAE $ 345,952 Average reserve per default: Case $ 18.5 Total $ 20.0 Default Rate 2.12 % 3+ Month Default Rate 1.43 % December 31, 2024 Number of Policies in Default Percentage of Policies in Default Amount of Reserves Percentage of Reserves Defaulted RIF Reserves as a Percentage of Defaulted RIF ($ in thousands) Missed Payments: Two payments 6,691 36 % $ 32,672 11 % $ 522,644 6 % Three payments 3,154 17 26,278 9 250,696 10 Four to eleven payments 6,408 35 122,551 43 515,600 24 Twelve or more payments 2,022 11 93,269 33 153,376 61 Pending claims 164 1 11,174 4 12,478 90 Total case reserves 18,439 100 % 285,944 100 % $ 1,454,794 20 % IBNR 21,446 LAE 2,766 Total reserves for losses and LAE $ 310,156 Average reserve per default: Case $ 15.5 Total $ 16.8 Default Rate 2.27 % 3+ Month Default Rate 1.44 % June 30, 2024 Number of Policies in Default Percentage of Policies in Default Amount of Reserves Percentage of Reserves Defaulted RIF Reserves as a Percentage of Defaulted RIF ($ in thousands) Missed Payments: Two payments 4,989 36 % $ 25,458 11 % $ 372,669 7 % Three payments 2,035 14 17,938 9 153,207 12 Four to eleven payments 4,887 35 93,489 41 383,685 24 Twelve or more payments 1,908 14 82,529 36 135,616 61 Pending claims 135 1 7,562 3 8,540 89 Total case reserves 13,954 100 % 226,976 100 % $ 1,053,717 22 % IBNR 17,023 LAE 2,108 Total reserves for losses and LAE $ 246,107 Average reserve per default: Case $ 16.3 Total $ 17.6 Default Rate 1.71 % 3+ Month Default Rate 1.10 % Exhibit M Essent Group Ltd. and Subsidiaries Supplemental Information Investments Available for Sale Investments Available for Sale by Asset Class Asset Class June 30, 2025 December 31, 2024 ($ in thousands) Fair Value Percent Fair Value Percent U.S. Treasury securities $ 391,461 6.6 % $ 547,290 9.3 % U.S. agency mortgage-backed securities 1,172,715 19.7 1,125,436 19.2 Municipal debt securities 600,618 10.0 583,501 9.9 Non-U.S. government securities 62,166 1.0 69,798 1.2 Corporate debt securities 1,908,167 32.0 1,783,046 30.3 Residential and commercial mortgage securities 454,381 7.6 478,086 8.1 Asset-backed securities 796,065 13.4 631,959 10.8 Money market funds 580,964 9.7 657,605 11.2 Total investments available for sale $ 5,966,537 100.0 % $ 5,876,721 100.0 % Investments Available for Sale by Credit Rating Rating (1) June 30, 2025 December 31, 2024 ($ in thousands) Fair Value Percent Fair Value Percent Aaa $ 816,766 15.2 % $ 2,513,014 48.1 % Aa1 1,815,159 33.7 101,809 2.0 Aa2 297,712 5.5 301,080 5.8 Aa3 289,201 5.3 271,069 5.2 A1 559,198 10.4 511,076 9.8 A2 461,980 8.6 411,999 7.9 A3 503,243 9.3 463,616 8.8 Baa1 210,077 3.9 218,454 4.2 Baa2 209,301 3.9 198,193 3.8 Baa3 149,083 2.8 151,729 2.9 Below Baa3 73,853 1.4 77,077 1.5 Total (2) $ 5,385,573 100.0 % $ 5,219,116 100.0 % (1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available. (2) Excludes $580,964 and $657,605 of money market funds at June 30, 2025 and December 31, 2024, respectively. Investments Available for Sale by Duration and Book Yield Effective Duration June 30, 2025 December 31, 2024 ($ in thousands) Fair Value Percent Fair Value Percent < 1 Year $ 1,431,564 24.0 % $ 1,587,022 26.9 % 1 to < 2 Years 605,824 10.2 544,630 9.3 2 to < 3 Years 472,256 7.9 473,301 8.1 3 to < 4 Years 526,581 8.8 445,614 7.6 4 to < 5 Years 595,792 10.0 546,414 9.3 5 or more Years 2,334,520 39.1 2,279,740 38.8 Total investments available for sale $ 5,966,537 100.0 % $ 5,876,721 100.0 % Pre-tax investment income yield: Three months ended 3.85 % Six months ended June 30, 2025 3.81 % Cash and investments available for sale at the holding companies: ($ in thousands) As of June 30, 2025 $ 995,032 As of December 31, 2024 $ 1,052,900 Exhibit N Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Company Capital 2025 2024 June 30 March 31 December 31 September 30 June 30 ($ in thousands) U.S. Mortgage Insurance Subsidiaries (7): Combined statutory capital (1) $ 3,714,146 $ 3,642,374 $ 3,594,381 $ 3,584,580 $ 3,530,462 Combined net risk in force (2) $ 33,986,508 $ 34,968,089 $ 35,159,976 $ 34,893,957 $ 34,812,227 Risk-to-capital ratios (3): Essent Guaranty, Inc. 9.2:1 9.6:1 9.8:1 10.0:1 10.2:1 Essent Guaranty of PA, Inc. N/A N/A N/A 0.3:1 0.3:1 Combined (4) N/A N/A N/A 9.7:1 9.9:1 Essent Guaranty, Inc. PMIERs Data (5): Available Assets $ 3,654,460 $ 3,628,675 $ 3,612,993 $ 3,598,725 $ 3,513,609 Minimum Required Assets 2,075,409 2,107,620 2,029,738 1,903,473 2,052,135 PMIERs excess Available Assets $ 1,579,051 $ 1,521,055 $ 1,583,255 $ 1,695,252 $ 1,461,474 PMIERs sufficiency ratio (6) 176 % 172 % 178 % 189 % 171 % Essent Reinsurance Ltd.: Stockholder's equity (GAAP basis) $ 1,751,720 $ 1,780,924 $ 1,773,044 $ 1,826,901 $ 1,793,777 Net risk in force (2) $ 24,802,145 $ 23,482,726 $ 23,250,018 $ 23,003,846 $ 22,770,165 (1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc. when applicable, after eliminating the impact of intercompany transactions. Statutory capital is computed based on accounting practices prescribed or permitted by the Pennsylvania Insurance Department and the National Association of Insurance Commissioners Accounting Practices and Procedures Manual. (2) Net risk in force represents total risk in force, net of reinsurance ceded and net of exposures on policies for which loss reserves have been established. (3) The risk-to-capital ratio is calculated as the ratio of net risk in force to statutory capital. (4) When applicable, the combined risk-to-capital ratio equals the sum of the net risk in force of Essent Guaranty, Inc. and Essent Guaranty of PA, Inc. divided by the combined statutory capital. (5) Data is based on our interpretation of the PMIERs as of the dates indicated. (6) PMIERs sufficiency ratio is calculated by dividing Available Assets by Minimum Required Assets. (7) Essent Guaranty of PA, Inc. provided reinsurance to Essent Guaranty, Inc. on certain policies originated prior to April 1, 2019. Effective December 31, 2024, Essent Guaranty of PA commuted its outstanding risk in force back to Essent Guaranty and surrendered its insurance license. Combined statutory capital and combined net risk in force as of and subsequent to December 31, 2024 are for Essent Guaranty only. Exhibit O Essent Group Ltd. and Subsidiaries Supplemental Information Historical Quarterly Segment Information (Unaudited) The following tables set forth quarterly financial information for our reportable business segment, Mortgage Insurance, our Corporate & Other category and our consolidated results for the five quarters ending June 30, 2025 (unaudited). Our Corporate & Other category is used to reconcile our reportable business segment to consolidated results and includes business activities associated with our title insurance operations, income and losses from holding company treasury operations, and general corporate operating expenses not attributable to our operating segments. Mortgage Insurance 2025 2024 June 30 March 31 December 31 September 30 June 30 ($ in thousands) Revenues: Net premiums earned $ 233,907 $ 233,630 $ 227,863 $ 231,249 $ 235,258 Net investment income 48,892 47,630 46,191 46,241 46,708 Realized investment gains (losses), net (124 ) (101 ) (120 ) 73 (1,156 ) Income (loss) from other invested assets 3,619 3,209 2,925 3,132 1,633 Other income 3,523 4,501 3,884 3,706 4,662 Total revenues 289,817 288,869 280,743 284,401 287,105 Losses and expenses: Provision (benefit) for losses and LAE 15,359 30,722 37,254 29,816 (1,225 ) Compensation and benefits 16,793 19,890 18,037 17,656 17,756 Premium and other taxes 6,000 5,574 5,968 5,863 5,568 Ceding commission (6,910 ) (6,508 ) (6,547 ) (6,433 ) (5,715 ) Other underwriting and operating expenses 11,128 11,637 11,779 10,798 10,787 Net operating expenses before allocations 27,011 30,593 29,237 27,884 28,396 Corporate expense allocations 9,241 13,014 10,657 10,672 10,840 Operating expenses after allocations 36,252 43,607 39,894 38,556 39,236 Income before income tax expense $ 238,206 $ 214,540 $ 203,595 $ 216,029 $ 249,094 Loss Ratio (1) 6.6 % 13.1 % 16.3 % 12.9 % (0.5 )% Expense Ratio (2) 15.5 % 18.7 % 17.5 % 16.7 % 16.7 % Combined Ratio 22.1 % 31.8 % 33.8 % 29.6 % 16.2 % (1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned. (2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned. Exhibit O, continued Essent Group Ltd. and Subsidiaries Supplemental Information Historical Quarterly Segment Information (Unaudited) Corporate & Other 2025 2024 June 30 March 31 December 31 September 30 June 30 ($ in thousands) Revenues: Net premiums earned $ 14,902 $ 12,218 $ 16,602 $ 17,687 $ 16,633 Net investment income 10,397 10,580 10,368 11,099 9,378 Realized investment gains (losses), net (5 ) (80 ) 6 (5 ) (8 ) Income (loss) from other invested assets 847 4,199 3,964 (312 ) (2,052 ) Other income 3,185 1,772 3,344 3,708 1,886 Total revenues 29,326 28,689 34,284 32,177 25,837 Losses and expenses: Provision for losses and LAE 1,696 565 3,721 850 891 Compensation and benefits 13,926 19,802 16,490 16,136 15,608 Premium and other taxes 495 1,329 569 432 370 Other underwriting and operating expenses 21,333 19,400 24,655 22,429 21,828 Net operating expenses before allocations 35,754 40,531 41,714 38,997 37,806 Corporate expense allocations (9,241 ) (13,014 ) (10,657 ) (10,672 ) (10,840 ) Operating expenses after allocations 26,513 27,517 31,057 28,325 26,966 Interest expense 8,148 8,148 8,151 11,457 7,849 Loss before income tax expense $ (7,031 ) $ (7,541 ) $ (8,645 ) $ (8,455 ) $ (9,869 ) Consolidated 2025 2024 June 30 March 31 December 31 September 30 June 30 ($ in thousands) Revenues: Net premiums earned $ 248,809 $ 245,848 $ 244,465 $ 248,936 $ 251,891 Net investment income 59,289 58,210 56,559 57,340 56,086 Realized investment gains (losses), net (129 ) (181 ) (114 ) 68 (1,164 ) Income (loss) from other invested assets 4,466 7,408 6,889 2,820 (419 ) Other income 6,708 6,273 7,228 7,414 6,548 Total revenues 319,143 317,558 315,027 316,578 312,942 Losses and expenses: Provision (benefit) for losses and LAE 17,055 31,287 40,975 30,666 (334 ) Compensation and benefits 30,719 39,692 34,527 33,792 33,364 Premium and other taxes 6,495 6,903 6,537 6,295 5,938 Ceding commission (6,910 ) (6,508 ) (6,547 ) (6,433 ) (5,715 ) Other underwriting and operating expenses 32,461 31,037 36,434 33,227 32,615 Total other underwriting and operating expenses 62,765 71,124 70,951 66,881 66,202 Interest expense 8,148 8,148 8,151 11,457 7,849 Income before income tax expense $ 231,175 $ 206,999 $ 194,950 $ 207,574 $ 239,225 Source: Essent Group Ltd.