Overview
- Q4 net income was $155 million, bringing full‑year profit to $690 million with EPS of $6.90 and a 12% return on average equity.
- Book value per share rose 13% year over year to $60.31 as the company returned nearly $700 million to shareholders and raised its quarterly dividend 13% to $0.35.
- Mortgage insurance in force ended Q4 at $248.4 billion, down $452 million from Sept. 30 but up $4.7 billion year over year, with 12‑month persistency at 85.7%.
- Credit metrics remained stable with a 2.5% default rate and higher loss provisioning, including a $55.2 million Q4 provision and roughly $145 million for 2025.
- Reinsurance coverage spans about 98% of the MI portfolio, Essent Re earned nearly $80 million from third‑party business, and the new Lloyd’s‑backed P&C quota share is expected to write $100–150 million of premium with roughly two‑thirds earned in 2026.