Enact Holdings, Inc. SEC 10-Q Report
2 minuti di lettura
Enact Holdings, Inc., a leading provider of mortgage insurance in the United States, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's financial and operational performance, reflecting its strategic initiatives and market conditions.
Financial Highlights
- Total Revenues: $304.9 million, reflecting a slight increase from the previous year due to higher net investment income.
- Net Income: $167.8 million, a decrease compared to the previous year, impacted by a lower reserve release.
- Net Income Per Common Share - Basic: $1.12, showing a slight decrease from the previous year.
- Net Income Per Common Share - Diluted: $1.11, also reflecting a decrease compared to the previous year.
Business Highlights
- Revenue Segments: The company operates in a single segment, Mortgage Insurance, which is how the Chief Executive Officer reviews financial performance and allocates resources. Revenue is primarily derived from writing and assuming residential mortgage guaranty insurance in the United States.
- Geographical Performance: The company operates its business through its primary insurance subsidiary, Enact Mortgage Insurance Corporation, with operations in all 50 states and the District of Columbia. This broad geographical presence allows the company to serve a wide range of customers across the United States.
- Sales Units: New insurance written (NIW) was $13.3 billion in the second quarter of 2025, a decrease of 3% compared to the second quarter of 2024. The primary persistency rate was 82% during the second quarter of 2025, slightly lower than the 83% in the second quarter of 2024.
- Loss Experience: The loss ratio for the three months ended June 30, 2025, was 10%, compared to (7)% for the same period in 2024. The company released $48 million of reserves in the second quarter of 2025, driven by cure performance of delinquencies from early 2024 and prior.
- Capital Requirements and Ratings: As of June 30, 2025, the estimated risk-to-capital ratio under North Carolina law was 10.3:1, below the maximum allowed ratio of 25:1. The company maintains a strong capital position, with a PMIERs sufficiency ratio of 165% as of June 30, 2025.
- Future Outlook: The company expects to hold capital sufficiency well in excess of PMIERs requirements and does not anticipate the impact of updated standards to be material. The company continues to focus on returning capital to shareholders while balancing growth and risk management priorities.
SEC Filing: Enact Holdings, Inc. [ ACT ] - 10-Q - Aug. 01, 2025