Essent Group Ltd.
essentgroup.comWhat Do They Do?
Insures residential mortgages and reinsures U.S. mortgage risks for mortgage lenders and reinsurers. Also offers title insurance and settlement services to residential real estate customers.
10-K for FY2025, filed Feb 18, 2026We serve the housing finance industry by providing private mortgage insurance and reinsurance, and title insurance and settlement services…View ↗
Our Mortgage Insurance segment offers private mortgage insurance for mortgages secured by residential properties located in the United…View ↗
Our Reinsurance segment primarily reinsures U.S. mortgage risk in the GSE credit risk transfer market and provides underwriting consulting…View ↗
We also offer title insurance products both directly and through a network of title insurance agents, as well as title and settlement…View ↗
Title and Settlement Services Customers, Sales and MarketingView ↗
How Do They Make Money?
Borrowers generally pay mortgage insurance premiums, though lenders may pay them; premiums can be monthly, annual or upfront, and are earned as coverage is provided. Title-policy revenue comes when an agent reports issuance, generally when the company receives cash.
10-K for FY2025, filed Feb 18, 2026Premium payments for primary mortgage insurance coverage are typically made by the borrower. Mortgage insurance paid directly by the…View ↗
monthly, where premiums are collected on a monthly basis over the life of the policy; in a single payment, where the entire premium is paid…View ↗
Mortgage guaranty insurance policies are contracts that are generally non-cancelable by the insurer, are renewable at a fixed price, and…View ↗
Revenues from title policies issued by agents are recorded when notice of issuance is received from the agent, which is generally when cash…View ↗
-
10-K for FY2025, filed Feb 18, 2026
FY2025 revenue by reportable segment ↗
$1.3B
-
10-K for FY2025, filed Feb 18, 2026
$1.3B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Mortgage Insurance
Recurring
10-K for FY2025, filed Feb 18, 2026 |
84%
FY2022: 100%
|
Mortgage Insurance, FY2025
$1.1B Sources
|
Recurring |
|
Reinsurance
|
7.1% |
Reinsurance, FY2025
$89.6M Sources
|
Who Are Their Customers?
Mortgage insurance customers are residential mortgage originators, including mortgage banks, credit unions and other lenders. Title insurance and settlement services reach residential real estate customers directly and through title agents.
10-K for FY2025, filed Feb 18, 2026
A significant portion of our premium revenue relates to master policies with certain lending institutions. For the year ended December 31…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 55 cents of every revenue dollar as net income in FY2025 and turned 67 cents into free cash flow.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
$189.7MView ↗
- ▼ −3%
- vs $195.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Growing. Revenue grew 23% in 4 years, from $1B in FY2021 to $1.3B in FY2025, about 5% a year.
Broader reinsurance
Reinsurance is expanding beyond mortgage risks to cover certain property and casualty risks through Lloyd’s of London.
10-K for FY2022, filed Feb 17, 2023 10-K for FY2025, filed Feb 18, 2026We also offer mortgage-related insurance and reinsurance through our wholly-owned Bermuda-based subsidiary, Essent Reinsurance Ltd., which…View ↗
Prior to December 31, 2025, we disclosed one reportable segment, Mortgage Insurance, which was comprised of "U.S. mortgage insurance" and…View ↗
Added title services
Added title insurance and settlement services through acquisitions of a title underwriter and a national title agency.
10-K for FY2022, filed Feb 17, 2023 10-K for FY2025, filed Feb 18, 2026We also offer title insurance products both directly and through a network of title insurance agents, as well as title and settlement…View ↗
Who Do They Compete With?
Competes with Arch Mortgage Insurance, Enact Mortgage Insurance, Mortgage Guaranty Insurance, National Mortgage Insurance, Radian Guaranty, Fidelity National Financial, First American Financial, Old Republic International, and Stewart Title Guaranty
10-K for FY2025, filed Feb 18, 2026The private mortgage insurance industry currently consists of six active private mortgage insurers approved by the GSEs: Essent Guaranty…View ↗
Loading...
