{"id":808799,"date":"2025-02-04T16:22:35","date_gmt":"2025-02-04T21:22:35","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/enact-reports-fourth-quarter-and-full-year-2024-results-and-announces-quarterly-dividend\/"},"modified":"2025-02-04T16:22:35","modified_gmt":"2025-02-04T21:22:35","slug":"enact-reports-fourth-quarter-and-full-year-2024-results-and-announces-quarterly-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/enact-reports-fourth-quarter-and-full-year-2024-results-and-announces-quarterly-dividend\/","title":{"rendered":"Enact Reports Fourth Quarter and Full Year 2024 Results and Announces Quarterly Dividend"},"content":{"rendered":"
\n

\n
\n GAAP Net Income of<\/em>
\n <\/strong>
\n
\n $163 million<\/em>
\n <\/strong>
\n
\n , or <\/em>
\n <\/strong>
\n
\n $1.05<\/em>
\n <\/strong>
\n
\n per diluted share<\/em>
\n <\/strong>
\n
\n
\n Adjusted Operating Income of <\/em>
\n <\/strong>
\n
\n $169 million<\/em>
\n <\/strong>
\n
\n , or <\/em>
\n <\/strong>
\n
\n $1.09<\/em>
\n <\/strong>
\n
\n per diluted share<\/em>
\n <\/strong>
\n
\n
\n Return on Equity of <\/em>
\n <\/strong>
\n
\n 13.0%<\/em>
\n <\/strong>
\n
\n and Adjusted Operating Return on Equity of <\/em>
\n <\/strong>
\n
\n 13.5%<\/em>
\n <\/strong>
\n
\n
\n Record Primary insurance in-force of <\/em>
\n <\/strong>
\n
\n $269 billion<\/em>
\n <\/strong>
\n
\n , a <\/em>
\n <\/strong>
\n
\n 2%<\/em>
\n <\/strong>
\n
\n increase from <\/em>
\n <\/strong>
\n
\n fourth<\/em>
\n <\/strong>
\n
\n quarter 2023<\/em>
\n <\/strong>
\n
\n
\n PMIERs Sufficiency of <\/em>
\n <\/strong>
\n
\n 167%<\/em>
\n <\/strong>
\n
\n or <\/em>
\n <\/strong>
\n
\n $2,052 million<\/em>
\n <\/strong>
\n
\n
\n Book Value Per Share of <\/em>
\n <\/strong>
\n
\n $32.80<\/em>
\n <\/strong>
\n
\n and Book Value Per Share excluding AOCI of <\/em>
\n <\/strong>
\n
\n $34.16<\/em>
\n <\/strong>
\n
\n
\n Returned over $350 million of capital to shareholders in 2024<\/em>
\n <\/strong>
\n
\n
\n Announces quarterly cash dividend of $0.185 per common share<\/em>
\n <\/strong>\n <\/p>\n

RALEIGH, N.C., Feb. 04, 2025 (GLOBE NEWSWIRE) — Enact Holdings, Inc. (Nasdaq: ACT) today announced its fourth quarter and full-year 2024 results.<\/p>\n

“Our very strong performance in 2024 underscores the effectiveness of our strategy and the continued successful execution of our priorities,” stated Rohit Gupta, President and CEO of Enact. “In a complex economic environment, we responsibly grew our portfolio, drove operational efficiencies, maintained a strong balance sheet and generated meaningful capital returns to our shareholders. As we look to the future, our proven strategy and disciplined execution position us well to realize the opportunities ahead and to create long-term value for our stakeholders.”<\/p>\n

\n Key Financial Highlights<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n (In millions, except per share data or otherwise noted)<\/em>\n <\/td>\n\n 4Q24<\/strong>\n <\/td>\n\n 3Q24<\/strong>\n <\/td>\n\n 4Q23<\/strong>\n <\/td>\n\n 2024<\/strong>\n <\/td>\n\n 2023<\/strong>\n <\/td>\n<\/tr>\n
Net Income (loss)<\/td>\n$163<\/td>\n$181<\/td>\n$157<\/td>\n$688<\/td>\n$666<\/td>\n<\/tr>\n
\n Diluted Net Income (loss) per share<\/em>\n <\/td>\n$1.05<\/td>\n$1.15<\/td>\n$0.98<\/td>\n$4.37<\/td>\n$4.11<\/td>\n<\/tr>\n
Adjusted Operating Income (loss)<\/td>\n$169<\/td>\n$182<\/td>\n$158<\/td>\n$718<\/td>\n$676<\/td>\n<\/tr>\n
\n Adj. Diluted Operating Income (loss) per share<\/em>\n <\/td>\n$1.09<\/td>\n$1.16<\/td>\n$0.98<\/td>\n$4.56<\/td>\n$4.18<\/td>\n<\/tr>\n
NIW ($B)<\/td>\n$13<\/td>\n$14<\/td>\n$10<\/td>\n$51<\/td>\n$53<\/td>\n<\/tr>\n
Primary IIF ($B)<\/td>\n$269<\/td>\n$268<\/td>\n$263<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Primary Persistency Rate<\/td>\n82%<\/td>\n83%<\/td>\n86%<\/td>\n83%<\/td>\n85%<\/td>\n<\/tr>\n
Net Premiums Earned<\/td>\n$246<\/td>\n$249<\/td>\n$240<\/td>\n$980<\/td>\n$957<\/td>\n<\/tr>\n
Losses Incurred<\/td>\n$24<\/td>\n$12<\/td>\n$24<\/td>\n$39<\/td>\n$27<\/td>\n<\/tr>\n
\n Loss Ratio<\/em>\n <\/td>\n10%<\/td>\n5%<\/td>\n10%<\/td>\n4%<\/td>\n3%<\/td>\n<\/tr>\n
Operating Expenses<\/td>\n$58<\/td>\n$56<\/td>\n$59<\/td>\n$223<\/td>\n$223<\/td>\n<\/tr>\n
\n Expense Ratio<\/em>\n <\/td>\n24%<\/td>\n22%<\/td>\n25%<\/td>\n23%<\/td>\n23%<\/td>\n<\/tr>\n
Net Investment Income<\/td>\n$63<\/td>\n$61<\/td>\n$56<\/td>\n$241<\/td>\n$207<\/td>\n<\/tr>\n
Net Investment gains (losses)<\/td>\n$(7)<\/td>\n$(1)<\/td>\n$(1)<\/td>\n$(23)<\/td>\n$(14)<\/td>\n<\/tr>\n
Return on Equity<\/td>\n13.0%<\/td>\n14.7%<\/td>\n13.8%<\/td>\n14.3%<\/td>\n15.2%<\/td>\n<\/tr>\n
Adjusted Operating Return on Equity<\/td>\n13.5%<\/td>\n14.8%<\/td>\n13.9%<\/td>\n14.9%<\/td>\n15.5%<\/td>\n<\/tr>\n
PMIERs Sufficiency ($)<\/td>\n$2,052<\/td>\n$2,190<\/td>\n$1,887<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
PMIERs Sufficiency (%)<\/td>\n167%<\/td>\n173%<\/td>\n161%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n Fourth Quarter 2024 Financial and Operating Highlights<\/u>
\n <\/strong>\n <\/p>\n