From GlobeNewswire: 2025-02-04 16:15:00

Enact Holdings, Inc. reported strong financial results for Q4 2024 with GAAP net income of $163 million and adjusted operating income of $169 million. The company achieved a return on equity of 13.0% and record primary insurance in-force of $269 billion. Enact also returned over $350 million of capital to shareholders in 2024.

The President and CEO of Enact, Rohit Gupta, highlighted the company’s successful execution of priorities in 2024, emphasizing responsible portfolio growth and capital returns to shareholders. Enact’s strategy and disciplined execution position them well for the future to create long-term value for stakeholders.

Key financial highlights for Q4 2024 include net income of $163 million, new insurance written of $13 billion, and primary insurance in-force of $269 billion. The company’s persistency rate was 82%, and net premiums earned were $246 million. Enact’s loss ratio was 10%, with operating expenses of $58 million and net investment income of $63 million.

Enact returned $354 million to shareholders in 2024 through dividends and share repurchases. The company also announced quota share reinsurance agreements and repurchased 2.1 million shares in Q1 2025. Enact’s Board of Directors declared a quarterly cash dividend of $0.185 per common share, payable on March 14, 2025.

Fitch Ratings upgraded EMICO’s Insurer Financial Strength rating to A and Enact’s senior debt rating to BBB. Enact announced excess of loss reinsurance agreements and repurchased shares in Q1 2025. The company’s Board declared a quarterly dividend of $0.185 per common share. A conference call to discuss financial results will be held on February 5, 2025, at 8:00 a.m. (Eastern).



Read more at GlobeNewswire:: Enact Reports Fourth Quarter and Full Year 2024 Results and