Essent Group Ltd. Announces First Quarter 2025 Results and Declares Quarterly Dividend

HAMILTON, Bermuda, May 09, 2025--(BUSINESS WIRE)--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended March 31, 2025 of $175.4 million or $1.69 per diluted share, compared to $181.7 million or $1.70 per diluted share for the quarter ended March 31, 2024.

Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.31 per common share. The dividend is payable on June 10, 2025, to shareholders of record on May 30, 2025.

"We are pleased with our first quarter 2025 financial results, as we continue to benefit from favorable credit performance, elevated portfolio persistency and higher investment income," said Mark A. Casale, Chairman and Chief Executive Officer. "We remain confident in our ability to continue to generate high-quality earnings and grow book value per share."

Financial Highlights:

New insurance written for the first quarter of 2025 was $9.9 billion, compared to $12.2 billion in the fourth quarter of 2024 and $8.3 billion in the first quarter of 2024. Insurance in force as of March 31, 2025 was $244.7 billion, compared to $243.6 billion as of December 31, 2024 and $238.5 billion as of March 31, 2024. Net investment income for the first quarter of 2025 was $58.2 million, up 12% from the first quarter of 2024. During the first quarter of 2025, Essent entered into two forward quota share transactions with highly rated third-party reinsurers. These quota share agreements cover 25% of the risk of all eligible policies written by Essent Guaranty, Inc. in calendar years 2025 and 2026. In April, Essent entered into two excess of loss transactions, effective July 1 of each year, with panels of highly rated third-party reinsurers covering 20% of all eligible policies written by Essent Guaranty, Inc. in calendar years 2025 and 2026. Year-to-date through April 30th, Essent has repurchased 3.9 million common shares for approximately $218 million. As of April 30th, $429 million dollars remains under the $500 million dollar repurchase plan authorized by the Board in February 2025.

Conference Call:

Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results. The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and-presentations/events/default.aspx. The call may also be accessed by dialing 888-330-2384 inside the U.S., or 240-789-2701 for international callers, using passcode 9824537 or by referencing Essent.

A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800-770-2030 inside the U.S., or 647-362-9199 for international callers, passcode 9824537.

Story Continues

In addition to the information provided in the Company's earnings news release, other statistical and financial information, which may be referred to during the conference call, will be available on Essent's website at http://ir.essentgroup.com/financials/quarterly-results/default.aspx.

Forward-Looking Statements:

This press release may include "forward-looking statements" which are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," or "potential" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: changes in or to Fannie Mae and Freddie Mac (the "GSEs"), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers or the loss of a significant customer; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs; decline in the volume of low down payment mortgage originations; uncertainty of loss reserve estimates; decrease in the length of time our insurance policies are in force; deteriorating economic conditions; and other risks and factors described in Part I, Item 1A "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on February 19, 2025, as subsequently updated through other reports we file with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

About the Company:

Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, "Essent") offering private mortgage insurance, reinsurance, and title insurance and settlement services to serve the housing finance industry. Additional information regarding Essent may be found at www.essentgroup.com.

Source: Essent Group Ltd.

Essent Group Ltd. and Subsidiaries Financial Results and Supplemental Information (Unaudited) Quarter Ended March 31, 2025   Exhibit A  Condensed Consolidated Statements of Comprehensive Income (Unaudited) Exhibit B  Condensed Consolidated Balance Sheets (Unaudited) Exhibit C  Consolidated Historical Quarterly Data Exhibit D  U.S. Mortgage Insurance Portfolio Historical Quarterly Data Exhibit E  New Insurance Written - U.S. Mortgage Insurance Portfolio Exhibit F  Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio Exhibit G  Other Risk in Force Exhibit H  U.S. Mortgage Insurance Portfolio Vintage Data Exhibit I  U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data Exhibit J  U.S. Mortgage Insurance Portfolio Geographic Data Exhibit K  Rollforward of Defaults and Reserve for Losses and LAE - U.S. Mortgage Insurance Portfolio Exhibit L  Detail of Reserves by Default Delinquency - U.S. Mortgage Insurance Portfolio Exhibit M  Investments Available for Sale Exhibit N  U.S. Mortgage Insurance Company Capital Exhibit O  Historical Quarterly Segment Information

Exhibit A  Essent Group Ltd. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited)   Three Months Ended March 31, (In thousands, except per share amounts)   2025    2024  Revenues:  Direct premiums written  $ 272,394   $ 268,931  Ceded premiums   (34,123 )   (30,391 ) Net premiums written   238,271    238,540  Decrease in unearned premiums   7,577    7,050  Net premiums earned   245,848    245,590  Net investment income   58,210    52,085  Realized investment gains (losses), net   (181 )   (1,140 ) Income (loss) from other invested assets   7,408    (1,915 ) Other income   6,273    3,737  Total revenues   317,558    298,357   Losses and expenses:  Provision for losses and LAE   31,287    9,913  Other underwriting and operating expenses   71,124    66,840  Interest expense   8,148    7,862  Total losses and expenses   110,559    84,615   Income before income taxes   206,999    213,742  Income tax expense   31,566    32,023  Net income  $ 175,433   $ 181,719    Earnings per share:  Basic  $ 1.71   $ 1.72  Diluted   1.69    1.70   Weighted average shares outstanding:  Basic   102,881    105,697  Diluted   103,946    106,770   Net income  $ 175,433   $ 181,719   Other comprehensive income (loss):  Change in unrealized appreciation (depreciation) of investments   71,738    (21,766 ) Total other comprehensive income (loss)   71,738    (21,766 ) Comprehensive income  $ 247,171   $ 159,953

Exhibit B  Essent Group Ltd. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited)   March 31,  December 31, (In thousands, except per share amounts)   2025    2024  Assets  Investments  Fixed maturities available for sale, at fair value  $ 5,345,409   $ 5,112,697  Short-term investments available for sale, at fair value   536,950    764,024  Total investments available for sale   5,882,359    5,876,721  Other invested assets   321,858    303,900  Total investments   6,204,217    6,180,621  Cash   208,066    131,480  Accrued investment income   42,296    43,732  Accounts receivable   53,127    55,564  Deferred policy acquisition costs   9,663    9,653  Property and equipment   43,214    41,871  Prepaid federal income tax   487,356    489,600  Goodwill and acquired intangible assets, net   79,206    79,556  Other assets   77,566    79,572  Total assets  $ 7,204,711   $ 7,111,649   Liabilities and Stockholders' Equity  Liabilities  Reserve for losses and LAE  $ 356,653   $ 328,866  Unearned premium reserve   108,406    115,983  Net deferred tax liability   414,772    392,428  Senior notes due 2029, net   494,294    493,959  Other accrued liabilities   171,280    176,755  Total liabilities   1,545,405    1,507,991   Commitments and contingencies   Stockholders' Equity  Common shares, $0.015 par value:  Authorized - 233,333; issued and outstanding - 102,495 shares in 2025 and 105,015 shares in 2024   1,537    1,575  Additional paid-in capital   1,055,340    1,214,956  Accumulated other comprehensive loss   (232,246 )   (303,984 ) Retained earnings   4,834,675    4,691,111  Total stockholders' equity   5,659,306    5,603,658   Total liabilities and stockholders' equity  $ 7,204,711   $ 7,111,649   Return on average equity (1)   12.5 %   13.6 %  (1) The 2025 return on average equity is calculated by dividing annualized year-to-date 2025 net income by average equity. The 2024 return on average equity is calculated by dividing full year 2024 net income by average equity.

Exhibit C Essent Group Ltd. and Subsidiaries Supplemental Information Consolidated Historical Quarterly Data  2025   2024 Selected Income Statement Data  March 31  December 31  September 30  June 30  March 31 (In thousands, except per share amounts)  Revenues:  Net premiums earned:  U.S. Mortgage Insurance Portfolio  $ 218,125   $ 211,683   $ 214,119   $ 217,513   $ 212,479  GSE and other risk share   15,505    16,180    17,130    17,745    17,826  Title insurance   12,218    16,602    17,687    16,633    15,285  Net premiums earned   245,848    244,465    248,936    251,891    245,590  Net investment income   58,210    56,559    57,340    56,086    52,085  Realized investment gains (losses), net   (181 )   (114 )   68    (1,164 )   (1,140 ) Income (loss) from other invested assets   7,408    6,889    2,820    (419 )   (1,915 ) Other income (1)   6,273    7,228    7,414    6,548    3,737  Total revenues   317,558    315,027    316,578    312,942    298,357   Losses and expenses:  Provision (benefit) for losses and LAE   31,287    40,975    30,666    (334 )   9,913  Other underwriting and operating expenses   71,124    70,951    66,881    66,202    66,840  Interest expense   8,148    8,151    11,457    7,849    7,862  Total losses and expenses   110,559    120,077    109,004    73,717    84,615   Income before income taxes   206,999    194,950    207,574    239,225    213,742  Income tax expense (2)   31,566    27,050    31,399    35,616    32,023  Net income  $ 175,433   $ 167,900   $ 176,175   $ 203,609   $ 181,719   Earnings per share:  Basic  $ 1.71   $ 1.60   $ 1.67   $ 1.93   $ 1.72  Diluted   1.69    1.58    1.65    1.91    1.70   Weighted average shares outstanding:  Basic   102,881    104,963    105,266    105,657    105,697  Diluted   103,946    106,104    106,554    106,778    106,770   Book value per share  $ 55.22   $ 53.36   $ 53.11   $ 50.58   $ 48.96  Return on average equity (annualized)   12.5 %   11.9 %   12.8 %   15.4 %   14.1 %  Borrowings  Borrowings outstanding  $ 500,000   $ 500,000   $ 500,000   $ 425,000   $ 425,000  Undrawn committed capacity  $ 500,000   $ 500,000   $ 500,000   $ 400,000   $ 400,000  Weighted average interest rate (end of period)   6.25 %   6.25 %   6.25 %   7.07 %   7.06 % Debt-to-capital   8.12 %   8.19 %   8.14 %   7.32 %   7.52 %  (1) Other income includes net favorable (unfavorable) changes in the fair value of embedded derivatives associated with certain of our third-party reinsurance agreements, which for the quarters ended March 31, 2025, December 31, 2024, September 30, 2024, June 30, 2024, March 31, 2024 were ($150), $204, ($1,173), $732, and ($1,902) respectively. (2) Income tax expense for the quarters ended March 31, 2025, December 31, 2024, September 30, 2024, June 30, 2024, and March 31, 2024 includes $1,561, $1,591, $475, $556, and ($1,041), respectively, of discrete tax expense (benefit) associated with realized and unrealized gains and losses. Income tax expense for the quarters ended March 31, 2025 and March 31, 2024 also includes ($742) and ($616), respectively, of excess tax benefits associated with the vesting of common shares and common share units.

Exhibit D Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Historical Quarterly Data   2025   2024 Other Data:  March 31  December 31  September 30  June 30  March 31 ($ in thousands)   U.S. Mortgage Insurance Portfolio  New insurance written  $ 9,945,336   $ 12,220,968   $ 12,513,695   $ 12,503,125   $ 8,323,544  New risk written  $ 2,698,639   $ 3,297,296   $ 3,437,465   $ 3,449,623   $ 2,289,508   Average insurance in force  $ 244,005,459   $ 243,236,830   $ 242,065,632   $ 239,538,571   $ 238,595,268  Insurance in force (end of period)  $ 244,692,492   $ 243,645,423   $ 242,976,043   $ 240,669,165   $ 238,477,402  Gross risk in force (end of period) (1)  $ 67,026,626   $ 66,613,517   $ 66,237,992   $ 65,269,064   $ 64,247,810  Risk in force (end of period)  $ 56,565,811   $ 56,477,150   $ 55,915,640   $ 55,521,538   $ 54,686,533  Policies in force   811,342    813,013    815,507    814,237    815,752  Weighted average coverage (2)   27.4 %   27.3 %   27.3 %   27.1 %   26.9 % Annual persistency   85.7 %   85.7 %   86.6 %   86.7 %   86.9 %  Loans in default (count)   17,759    18,439    15,906    13,954    13,992  Percentage of loans in default   2.19 %   2.27 %   1.95 %   1.71 %   1.72 %  U.S. Mortgage Insurance Portfolio premium rate:  Base average premium rate (3)   0.41 %   0.41 %   0.41 %   0.41 %   0.41 % Single premium cancellations (4)   — %   — %   — %   — %   — % Gross average premium rate   0.41 %   0.41 %   0.41 %   0.41 %   0.41 % Ceded premiums   (0.05 %)   (0.06 %)   (0.06 %)   (0.05 %)   (0.05 %) Net average premium rate   0.36 %   0.35 %   0.35 %   0.36 %   0.36 %   (1) Gross risk in force includes risk ceded under third-party reinsurance. (2) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force. (3) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period. (4) Single premium cancellations is calculated by dividing annualized premiums on the cancellation of non-refundable single premium policies by average insurance in force for the period.

Exhibit E  Essent Group Ltd. and Subsidiaries Supplemental Information - U.S. Mortgage Insurance Portfolio New Insurance Written: Flow   NIW by Credit Score Three Months Ended March 31, 2025  December 31, 2024  March 31, 2024 ($ in thousands)  >=760  $ 4,742,099   47.7 %  $ 5,754,605   47.1 %  $ 3,596,600   43.2 % 740-759   1,726,055   17.4    2,131,356   17.4    1,410,446   16.9  720-739   1,299,999   13.0    1,640,275   13.4    1,244,648   15.0  700-719   1,164,983   11.7    1,390,278   11.4    1,140,430   13.7  680-699   574,657   5.8    743,789   6.1    563,419   6.8  <=679   437,543   4.4    560,665   4.6    368,001   4.4  Total  $ 9,945,336   100.0 %  $ 12,220,968   100.0 %  $ 8,323,544   100.0 %  Weighted average credit score   751      751      747     NIW by LTV Three Months Ended March 31, 2025  December 31, 2024  March 31, 2024 ($ in thousands)  85.00% and below  $ 738,619   7.4 %  $ 977,154   8.0 %  $ 559,899   6.7 % 85.01% to 90.00%   2,278,290   22.9    2,821,683   23.1    1,732,131   20.8  90.01% to 95.00%   5,276,018   53.1    6,348,777   51.9    4,517,655   54.3  95.01% and above   1,652,409   16.6    2,073,354   17.0    1,513,859   18.2  Total  $ 9,945,336   100.0 %  $ 12,220,968   100.0 %  $ 8,323,544   100.0 %  Weighted average LTV   93 %     93 %     93 %     NIW by Product Three Months Ended March 31, 2025  December 31, 2024  March 31, 2024 Single premium policies    1.4 %    1.2 %    2.0 % Monthly premium policies    98.6     98.8     98.0  100.0 %    100.0 %    100.0 %    NIW by Purchase vs. Refinance Three Months Ended March 31, 2025  December 31, 2024  March 31, 2024 Purchase    94.3 %    88.3 %    97.4 % Refinance    5.7     11.7     2.6  100.0 %    100.0 %    100.0 %

Exhibit F  Essent Group Ltd. and Subsidiaries Supplemental Information Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio   Portfolio by Credit Score IIF by FICO score  March 31, 2025  December 31, 2024  March 31, 2024 ($ in thousands)  >=760  $ 100,017,207   40.9 %  $ 99,221,741   40.7 %  $ 96,712,431   40.6 % 740-759   42,848,390   17.5    42,574,390   17.5    41,477,680   17.4  720-739   37,970,066   15.5    37,953,625   15.6    37,342,339   15.7  700-719   32,765,594   13.4    32,657,660   13.4    32,023,895   13.4  680-699   19,667,828   8.0    19,772,912   8.1    19,664,999   8.2  <=679   11,423,407   4.7    11,465,095   4.7    11,256,058   4.7  Total  $ 244,692,492   100.0 %  $ 243,645,423   100.0 %  $ 238,477,402   100.0 %  Weighted average credit score   746      746      746   Gross RIF by FICO score  March 31, 2025  December 31, 2024  March 31, 2024 ($ in thousands)  >=760  $ 27,126,072   40.5 %  $ 26,860,197   40.3 %  $ 25,806,552   40.2 % 740-759   11,894,259   17.7    11,799,832   17.7    11,326,253   17.6  720-739   10,535,428   15.7    10,512,364   15.8    10,206,055   15.9  700-719   9,113,238   13.6    9,067,640   13.6    8,757,648   13.6  680-699   5,425,408   8.1    5,440,776   8.2    5,321,802   8.3  <=679   2,932,221   4.4    2,932,708   4.4    2,829,500   4.4  Total  $ 67,026,626   100.0 %  $ 66,613,517   100.0 %  $ 64,247,810   100.0 %  Portfolio by LTV IIF by LTV  March 31, 2025  December 31, 2024  March 31, 2024 ($ in thousands)  85.00% and below  $ 14,375,166   5.9 %  $ 14,738,289   6.0 %  $ 18,397,395   7.7 % 85.01% to 90.00%   59,985,533   24.5    60,636,883   24.9    62,218,749   26.1  90.01% to 95.00%   128,443,227   52.5    127,152,954   52.2    120,666,455   50.6  95.01% and above   41,888,566   17.1    41,117,297   16.9    37,194,803   15.6  Total  $ 244,692,492   100.0 %  $ 243,645,423   100.0 %  $ 238,477,402   100.0 %  Weighted average LTV   93 %     93 %     93 %   Gross RIF by LTV  March 31, 2025  December 31, 2024  March 31, 2024 ($ in thousands)  85.00% and below  $ 1,701,075   2.5 %  $ 1,745,933   2.6 %  $ 2,188,074   3.4 % 85.01% to 90.00%   14,799,254   22.1    14,961,779   22.5    15,329,091   23.9  90.01% to 95.00%   37,888,529   56.5    37,510,076   56.3    35,556,840   55.3  95.01% and above   12,637,768   18.9    12,395,729   18.6    11,173,805   17.4  Total  $ 67,026,626   100.0 %  $ 66,613,517   100.0 %  $ 64,247,810   100.0 %  Portfolio by Loan Amortization Period IIF by Loan Amortization Period  March 31, 2025  December 31, 2024  March 31, 2024 ($ in thousands)  FRM 30 years and higher  $ 239,398,817   97.8 %  $ 238,335,608   97.8 %  $ 232,753,590   97.6 % FRM 20-25 years   1,042,318   0.4    1,133,494   0.5    1,473,431   0.6  FRM 15 years   1,285,597   0.5    1,231,952   0.5    1,359,795   0.6  ARM 5 years and higher   2,965,760   1.3    2,944,369   1.2    2,890,586   1.2  Total  $ 244,692,492   100.0 %  $ 243,645,423   100.0 %  $ 238,477,402   100.0 %

Exhibit G  Essent Group Ltd. and Subsidiaries Supplemental Information Other Risk in Force  2025   2024 ($ in thousands)  March 31  December 31  September 30  June 30  March 31 GSE and other risk share (1):  Risk in Force  $ 2,220,477   $ 2,240,284   $ 2,254,726   $ 2,304,885   $ 2,307,267  Reserve for losses and LAE  $ 52   $ 51   $ 37   $ 33   $ 32   Weighted average credit score   751    751    750    750    750  Weighted average LTV   82 %   82 %   82 %   82 %   82 %  (1) GSE and other risk share includes GSE risk share and other reinsurance transactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae.

Exhibit H  Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Vintage Data March 31, 2025   Insurance in Force  Year  Original

Insurance

Written

($ in thousands)  Remaining

Insurance

in Force

($ in thousands)  % Remaining of Original

Insurance  Number of Policies in Force  Weighted Average Coupon  % Purchase  >90% LTV  >95% LTV  FICO < 700  FICO >= 760  Incurred Loss Ratio (Inception to Date) (1)  Number of Loans in Default  Percentage of Loans in Default  2010 - 2015  $ 86,862,507  $ 1,670,154  1.9 %  9,235  4.28 %  69.3 %  51.7 %  2.5 %  12.1 %  46.7 %  2.3 %  429  4.65 % 2016   34,949,319   1,597,109  4.6   9,507  4.01   82.2   69.5   17.4   18.5   39.5   2.0   411  4.32  2017   43,858,322   3,323,656  7.6   20,736  4.31   90.6   82.8   25.1   21.1   36.5   3.0   901  4.35  2018   47,508,525   4,375,849  9.2   25,555  4.81   95.1   76.4   28.1   22.2   31.8   3.9   1,186  4.64  2019   63,569,183   9,731,446  15.3   48,468  4.24   89.6   73.1   26.2   19.1   34.7   3.8   1,672  3.45  2020   107,944,065   33,665,162  31.2   136,025  3.21   74.0   65.2   15.3   10.7   45.3   2.9   2,450  1.80  2021   84,218,250   47,911,728  56.9   162,828  3.10   90.5   68.4   17.4   13.8   40.2   6.5   3,654  2.24  2022   63,061,262   50,057,019  79.4   145,895  5.09   98.2   66.7   11.7   12.5   39.6   19.4   3,763  2.58  2023   47,666,852   40,073,857  84.1   114,381  6.62   98.8   73.1   18.9   11.1   38.4   19.4   2,397  2.10  2024   45,561,332   42,418,290  93.1   113,302  6.71   94.9   72.8   19.8   12.1   42.9   14.8   889  0.78  2025 (through March 31)   9,945,336   9,868,222  99.2   25,410  6.78   94.4   69.7   16.7   10.2   47.6   2.1   7  0.03  Total  $ 635,144,953  $ 244,692,492  38.5   811,342  4.98   91.9   69.6   17.1   12.7   40.9   5.2   17,759  2.19   (1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned.

Exhibit I Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data March 31, 2025 ($ in thousands) Insurance Linked Notes (1)  Deal Name  Vintage  Remaining

Insurance

in Force  Remaining

Risk

in Force  Original

Reinsurance in Force  Remaining

Reinsurance in Force  Losses

Ceded

to Date  Original

First Layer

Retention  Remaining

First Layer

Retention  Earned Premiums Ceded Year-to-Date  Reduction in PMIERs Minimum Required

Assets (3) Radnor Re 2021-1  Aug. 2020 - Mar. 2021  $ 22,498,132  $ 6,194,669  $ 557,911  $ 165,266  $ —  $ 278,956  $ 277,360  $ 1,390  $ 123,425 Radnor Re 2021-2  Apr. 2021 - Sep. 2021   28,457,873   7,936,192   439,407   248,077   —   279,415   274,846   3,029   215,769 Radnor Re 2022-1  Oct. 2021 - Jul. 2022   26,997,277   7,409,659   237,868   160,941   —   303,761   298,719   3,270   148,066 Radnor Re 2023-1  Aug. 2022 - Jun. 2023   27,368,762   7,507,563   281,462   250,291   —   281,463   279,930   3,090   237,276 Radnor Re 2024-1  Jul. 2023 - Jul. 2024   28,317,296   7,832,167   363,366   316,494   —   256,495   256,495   2,934   234,205 Total    $ 133,639,340  $ 36,880,250  $ 1,880,014  $ 1,141,069  $ —  $ 1,400,090  $ 1,387,350  $ 13,713  $ 958,741  Excess of Loss Reinsurance (2)  Deal Name  Vintage  Remaining

Insurance

in Force  Remaining

Risk

in Force  Original

Reinsurance in Force  Remaining

Reinsurance in Force  Losses

Ceded

to Date  Original

First Layer

Retention  Remaining

First Layer

Retention  Earned Premiums Ceded Year-to-Date  Reduction in PMIERs Minimum Required

Assets (3) XOL 2019-1  Jan. 2018 - Dec. 2018  $ 4,334,575  $ 1,143,163  $ 118,650  $ 76,144  $ —  $ 253,643  $ 243,099  $ 614  $ — XOL 2020-1  Jan. 2019 - Aug. 2019   5,525,478   1,461,723   55,102   29,152   —   215,605   211,464   246   — XOL 2022-1  Oct. 2021 - Dec. 2022   61,141,314   16,718,151   141,992   141,992   —   507,114   494,068   1,576   137,692 XOL 2023-1  Jan. 2023 - Dec. 2023   35,938,114   9,967,019   36,627   36,627   —   366,270   365,476   429   35,218 XOL 2024-1  Jan. 2024 - Dec. 2024   39,383,053   10,817,438   46,537   58,005   —   331,456   331,456   644   56,073 Total    $ 146,322,534  $ 40,107,494  $ 398,908  $ 341,920  $ —  $ 1,674,088  $ 1,645,563  $ 3,509  $ 228,983

Quota Share Reinsurance (2)  Losses Ceded  Ceding Commission  Earned Premiums Ceded  Year  Ceding Percentage  Remaining

Insurance

in Force  Remaining

Risk

in Force  Remaining Ceded Insurance in Force  Remaining Ceded Risk in Force  Year-to-Date  Year-to-Date  Year-to-Date  Reduction in PMIERs Minimum Required

Assets (3) Sep. 2019 - Dec. 2020  (4)  $ 37,752,288  $ 10,358,129  $ 7,773,432  $ 2,104,516  $ (240 )  $ 2,250  $ 3,006  $ 130,610 Jan. 2022 - Dec. 2022  20%   50,008,402   13,650,092   10,001,681   2,730,018   2,219    1,768   5,579   206,510 Jan. 2023 - Dec. 2023  17.5%   35,831,132   9,940,697   6,270,448   1,739,622   1,218    1,265   3,875   139,923 Jan. 2024 - Dec. 2024  15%   42,171,586   11,564,578   6,325,738   1,734,687   1,298    1,287   4,065   127,279 Jan. 2025 - Dec. 2025  25%   9,858,525   2,675,932   2,464,631   668,983   23    191   376   43,950 Total    $ 175,621,933  $ 48,189,428  $ 32,835,930  $ 8,977,826  $ 4,518   $ 6,761  $ 16,901  $ 648,272  (1) Reinsurance provided by unaffiliated special purpose insurers through the issuance of mortgage insurance-linked notes ("ILNs"). (2) Reinsurance provided by panels of reinsurers. (3) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assets based on our interpretation of the PMIERs. (4) Reinsurance coverage on 40% of eligible single premium policies and 20% of all other eligible policies.

Exhibit J  Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Geographic Data   IIF by State March 31, 2025  December 31, 2024  March 31, 2024 CA  12.4 %  12.5 %  12.9 % FL  11.9   11.9   11.3  TX  11.2   11.1   10.6  CO  4.0   4.1   4.1  AZ  3.9   3.8   3.8  GA  3.8   3.7   3.5  WA  3.4   3.4   3.5  NC  3.1   3.0   2.9  NY  2.6   2.6   2.5  OH  2.6   2.6   2.6  All Others  41.1   41.3   42.3  Total  100.0 %  100.0 %  100.0 %    Gross RIF by State March 31, 2025  December 31, 2024  March 31, 2024 CA  12.4 %  12.4 %  12.8 % FL  12.1   12.1   11.6  TX  11.5   11.4   10.9  CO  4.0   4.0   4.1  AZ  3.9   3.9   3.8  GA  3.8   3.8   3.6  WA  3.4   3.4   3.4  NC  3.1   3.0   2.9  MI  2.6   2.5   2.5  OH  2.5   2.5   2.6  All Others  40.7   41.0   41.8  Total  100.0 %  100.0 %  100.0 %

Exhibit K  Essent Group Ltd. and Subsidiaries Supplemental Information Rollforward of Defaults and Reserve for Losses and LAE U.S. Mortgage Insurance Portfolio  Rollforward of Insured Loans in Default Three Months Ended 2025   2024 March 31  December 31  September 30  June 30  March 31 Beginning default inventory   18,439    15,906    13,954    13,992    14,819  Plus: new defaults (A)   9,664    11,136    9,984    8,119    8,260  Less: cures   (10,173 )   (8,408 )   (7,819 )   (7,956 )   (8,951 ) Less: claims paid   (153 )   (183 )   (182 )   (183 )   (123 ) Less: rescissions and denials, net   (18 )   (12 )   (31 )   (18 )   (13 ) Ending default inventory   17,759    18,439    15,906    13,954    13,992   (A) New defaults remaining as of March 31, 2025   6,446    4,274    2,546    1,504    837  Cure rate (1)   33 %   62 %   74 %   81 %   90 %  Total amount paid for claims (in thousands)  $ 6,330   $ 7,740   $ 5,749   $ 5,566   $ 3,605  Average amount paid per claim (in thousands)  $ 41   $ 42   $ 32   $ 30   $ 29  Severity   70 %   68 %   58 %   60 %   65 %  Rollforward of Reserve for Losses and LAE Three Months Ended 2025   2024 ($ in thousands)  March 31  December 31  September 30  June 30  March 31 Reserve for losses and LAE at beginning of period  $ 310,156   $ 274,926   $ 246,107   $ 253,565   $ 245,402  Less: Reinsurance recoverables   36,655    30,867    26,022    26,570    24,005  Net reserve for losses and LAE at beginning of period   273,501    244,059    220,085    226,995    221,397  Add provision for losses and LAE occurring in:  Current period   48,928    50,212    51,649    30,653    39,396  Prior years   (18,208 )   (12,976 )   (21,836 )   (31,880 )   (30,062 ) Incurred losses and LAE during the period   30,720    37,236    29,813    (1,227 )   9,334  Deduct payments for losses and LAE occurring in:  Current period   51    1,569    637    478    1  Prior years   6,393    6,225    5,202    5,205    3,735  Loss and LAE payments during the period   6,444    7,794    5,839    5,683    3,736  Net reserve for losses and LAE at end of period   297,777    273,501    244,059    220,085    226,995  Plus: Reinsurance recoverables   40,351    36,655    30,867    26,022    26,570  Reserve for losses and LAE at end of period  $ 338,128   $ 310,156   $ 274,926   $ 246,107   $ 253,565     (1) The cure rate is calculated by dividing new defaults remaining as of the reporting date by the original number of new defaults reported in the quarterly period and subtracting that percentage from 100%.

Exhibit L Essent Group Ltd. and Subsidiaries Supplemental Information Detail of Reserves by Default Delinquency U.S. Mortgage Insurance Portfolio  March 31, 2025 Number of

Policies in

Default  Percentage of

Policies in

Default  Amount of Reserves  Percentage of Reserves  Defaulted RIF  Reserves as a Percentage of

Defaulted RIF ($ in thousands)  Missed Payments:  Two payments  5,430   31 %  $ 29,226  9 %  $ 426,195  7 % Three payments  2,445   14    23,046  7    194,642  12  Four to eleven payments  7,472   42    139,810  45    620,538  23  Twelve or more payments  2,198   12    105,783  34    172,129  61  Pending claims  214   1    14,195  5    15,789  90  Total case reserves  17,759   100 %   312,060  100 %  $ 1,429,293  22 % IBNR       23,404  LAE       2,664  Total reserves for losses and LAE      $ 338,128   Average reserve per default:  Case      $ 17.6  Total      $ 19.0   Default Rate  2.19 %  3+ Month Default Rate  1.52 %   December 31, 2024 Number of

Policies in

Default  Percentage of

Policies in

Default  Amount of Reserves  Percentage of Reserves  Defaulted RIF  Reserves as a Percentage of

Defaulted RIF ($ in thousands)  Missed Payments:  Two payments  6,691   36 %  $ 32,672  11 %  $ 522,644  6 % Three payments  3,154   17    26,278  9    250,696  10  Four to eleven payments  6,408   35    122,551  43    515,600  24  Twelve or more payments  2,022   11    93,269  33    153,376  61  Pending claims  164   1    11,174  4    12,478  90  Total case reserves  18,439   100 %   285,944  100 %  $ 1,454,794  20 % IBNR       21,446  LAE       2,766  Total reserves for losses and LAE      $ 310,156   Average reserve per default:  Case      $ 15.5  Total      $ 16.8   Default Rate  2.27 %  3+ Month Default Rate  1.44 %   March 31, 2024 Number of

Policies in

Default  Percentage of

Policies in

Default  Amount of Reserves  Percentage of Reserves  Defaulted RIF  Reserves as a Percentage of

Defaulted RIF ($ in thousands)  Missed Payments:  Two payments  4,527   33 %  $ 23,944  10 %  $ 333,652  7 % Three payments  2,000   14    18,410  8    148,499  12  Four to eleven payments  5,440   39    104,123  45    426,513  24  Twelve or more payments  1,883   13    80,025  34    130,816  61  Pending claims  142   1    7,382  3    8,351  88  Total case reserves  13,992   100 %   233,884  100 %  $ 1,047,831  22 % IBNR       17,541  LAE       2,140  Total reserves for losses and LAE      $ 253,565   Average reserve per default:  Case      $ 16.7  Total      $ 18.1   Default Rate  1.72 %  3+ Month Default Rate  1.16 %

Exhibit M  Essent Group Ltd. and Subsidiaries Supplemental Information Investments Available for Sale  Investments Available for Sale by Asset Class Asset Class  March 31, 2025  December 31, 2024 ($ in thousands)  Fair Value  Percent  Fair Value  Percent U.S. Treasury securities  $ 545,262   9.3 %  $ 547,290  9.3 % U.S. agency mortgage-backed securities   1,165,643   19.8    1,125,436  19.2  Municipal debt securities   592,561   10.0    583,501  9.9  Non-U.S. government securities   61,870   1.1    69,798  1.2  Corporate debt securities   1,867,491   31.7    1,783,046  30.3  Residential and commercial mortgage securities   470,481   8.0    478,086  8.1  Asset-backed securities   746,519   12.7    631,959  10.8  Money market funds   432,532   7.4    657,605  11.2  Total investments available for sale  $ 5,882,359   100.0 %  $ 5,876,721  100.0 %  Investments Available for Sale by Credit Rating Rating (1)  March 31, 2025  December 31, 2024 ($ in thousands)  Fair Value  Percent  Fair Value  Percent Aaa  $ 2,621,894   48.1 %  $ 2,513,014  48.1 % Aa1   103,985   1.9    101,809  2.0  Aa2   297,219   5.5    301,080  5.8  Aa3   273,111   4.9    271,069  5.2  A1   539,597   9.9    511,076  9.8  A2   468,994   8.6    411,999  7.9  A3   481,219   8.8    463,616  8.8  Baa1   226,338   4.2    218,454  4.2  Baa2   209,913   3.9    198,193  3.8  Baa3   151,344   2.8    151,729  2.9  Below Baa3   76,213   1.4    77,077  1.5  Total (2)  $ 5,449,827   100.0 %  $ 5,219,116  100.0 %  (1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available. (2) Excludes $432,532 and $657,605 of money market funds at March 31, 2025 and December 31, 2024, respectively.  Investments Available for Sale by Duration and Book Yield Effective Duration  March 31, 2025  December 31, 2024 ($ in thousands)  Fair Value  Percent  Fair Value  Percent < 1 Year  $ 1,394,536   23.7 %  $ 1,587,022  26.9 % 1 to < 2 Years   589,709   10.0    544,630  9.3  2 to < 3 Years   460,635   7.8    473,301  8.1  3 to < 4 Years   564,623   9.6    445,614  7.6  4 to < 5 Years   533,274   9.1    546,414  9.3  5 or more Years   2,339,582   39.8    2,279,740  38.8  Total investments available for sale  $ 5,882,359   100.0 %  $ 5,876,721  100.0 %  Pre-tax investment income yield:  Three months ended March 31, 2025   3.77 %   Holding company net cash and investments available for sale:  ($ in thousands)  As of March 31, 2025  $ 1,016,368  As of December 31, 2024  $ 1,052,900

Exhibit N  Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Company Capital  2025  2024 March 31  December 31  September 30  June 30  March 31 ($ in thousands)  U.S. Mortgage Insurance Subsidiaries (7):  Combined statutory capital (1)  $ 3,642,374   $ 3,594,381   $ 3,584,580   $ 3,530,462   $ 3,453,553   Combined net risk in force (2)  $ 34,968,089   $ 35,159,976   $ 34,893,957   $ 34,812,227   $ 34,463,082   Risk-to-capital ratios (3):  Essent Guaranty, Inc.   9.6:1    9.8:1    10.0:1    10.2:1    10.3:1  Essent Guaranty of PA, Inc.   N/A    N/A    0.3:1    0.3:1    0.4:1  Combined (4)   N/A    N/A    9.7:1    9.9:1    10.0:1   Essent Guaranty, Inc. PMIERs Data (5):  Available Assets  $ 3,628,675   $ 3,612,993   $ 3,598,725   $ 3,513,609   $ 3,464,119  Minimum Required Assets   2,107,620    2,029,738    1,903,473    2,052,135    1,999,928  PMIERs excess Available Assets  $ 1,521,055   $ 1,583,255   $ 1,695,252   $ 1,461,474   $ 1,464,191  PMIERs sufficiency ratio (6)   172 %   178 %   189 %   171 %   173 %  Essent Reinsurance Ltd.:  Stockholder's equity (GAAP basis)  $ 1,780,924   $ 1,773,044   $ 1,826,901   $ 1,793,777   $ 1,793,005   Net risk in force (2)  $ 23,482,726   $ 23,250,018   $ 23,003,846   $ 22,770,165   $ 22,271,316    (1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc. when applicable, after eliminating the impact of intercompany transactions. Statutory capital is computed based on accounting practices prescribed or permitted by the Pennsylvania Insurance Department and the National Association of Insurance Commissioners Accounting Practices and Procedures Manual. (2) Net risk in force represents total risk in force, net of reinsurance ceded and net of exposures on policies for which loss reserves have been established. (3) The risk-to-capital ratio is calculated as the ratio of net risk in force to statutory capital. (4) When applicable, the combined risk-to-capital ratio equals the sum of the net risk in force of Essent Guaranty, Inc. and Essent Guaranty of PA, Inc. divided by the combined statutory capital. (5) Data is based on our interpretation of the PMIERs as of the dates indicated. (6) PMIERs sufficiency ratio is calculated by dividing Available Assets by Minimum Required Assets. (7) Essent Guaranty of PA, Inc. provided reinsurance to Essent Guaranty, Inc. on certain policies originated prior to April 1, 2019. Effective December 31, 2024, Essent Guaranty of PA commuted its outstanding risk in force back to Essent Guaranty and surrendered its insurance license. Combined statutory capital and combined net risk in force as of and subsequent to December 31, 2024 are for Essent Guaranty only.

Exhibit O Essent Group Ltd. and Subsidiaries Supplemental Information Historical Quarterly Segment Information (Unaudited)  The following tables set forth quarterly financial information for our reportable business segment, Mortgage Insurance, our Corporate & Other category and our consolidated results for the five quarters ending March 31, 2025 (unaudited). Our Corporate & Other category is used to reconcile our reportable business segment to consolidated results and includes business activities associated with our title insurance operations, income and losses from holding company treasury operations, and general corporate operating expenses not attributable to our operating segments.  Mortgage Insurance 2025   2024 March 31  December 31  September 30  June 30  March 31 ($ in thousands)  Revenues:  Net premiums earned  $ 233,630   $ 227,863   $ 231,249   $ 235,258   $ 230,306  Net investment income   47,630    46,191    46,241    46,708    44,201  Realized investment gains (losses), net   (101 )   (120 )   73    (1,156 )   (1,140 ) Income (loss) from other invested assets   3,209    2,925    3,132    1,633    (519 ) Other income   4,501    3,884    3,706    4,662    1,900  Total revenues   288,869    280,743    284,401    287,105    274,748   Losses and expenses:  Provision (benefit) for losses and LAE   30,722    37,254    29,816    (1,225 )   9,337   Compensation and benefits   19,890    18,037    17,656    17,756    18,707  Premium and other taxes   5,574    5,968    5,863    5,568    5,608  Ceding commission   (6,508 )   (6,547 )   (6,433 )   (5,715 )   (5,553 ) Other underwriting and operating expenses   11,637    11,779    10,798    10,787    11,465  Net operating expenses before allocations   30,593    29,237    27,884    28,396    30,227  Corporate expense allocations   13,014    10,657    10,672    10,840    11,618  Operating expenses after allocations   43,607    39,894    38,556    39,236    41,845  Income before income tax expense  $ 214,540   $ 203,595   $ 216,029   $ 249,094   $ 223,566   Loss Ratio (1)   13.1 %   16.3 %   12.9 %   (0.5 )%   4.1 % Expense Ratio (2)   18.7 %   17.5 %   16.7 %   16.7 %   18.2 % Combined Ratio   31.8 %   33.8 %   29.6 %   16.2 %   22.3 %  (1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned. (2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned.

Exhibit O, continued Essent Group Ltd. and Subsidiaries Supplemental Information Historical Quarterly Segment Information (Unaudited)  Corporate & Other 2025   2024 March 31  December 31  September 30  June 30  March 31 ($ in thousands)  Revenues:  Net premiums earned  $ 12,218   $ 16,602   $ 17,687   $ 16,633   $ 15,284  Net investment income   10,580    10,368    11,099    9,378    7,884  Realized investment gains (losses), net   (80 )   6    (5 )   (8 )   —  Income (loss) from other invested assets   4,199    3,964    (312 )   (2,052 )   (1,396 ) Other income   1,772    3,344    3,708    1,886    1,837  Total revenues   28,689    34,284    32,177    25,837    23,609   Losses and expenses:  Provision for losses and LAE   565    3,721    850    891    576   Compensation and benefits   19,802    16,490    16,136    15,608    16,002  Premium and other taxes   1,329    569    432    370    126  Other underwriting and operating expenses   19,400    24,655    22,429    21,828    20,485  Net operating expenses before allocations   40,531    41,714    38,997    37,806    36,613  Corporate expense allocations   (13,014 )   (10,657 )   (10,672 )   (10,840 )   (11,618 ) Operating expenses after allocations   27,517    31,057    28,325    26,966    24,995  Interest expense   8,148    8,151    11,457    7,849    7,862  Loss before income tax expense  $ (7,541 )  $ (8,645 )  $ (8,455 )  $ (9,869 )  $ (9,824 )  Consolidated 2025   2024 March 31  December 31  September 30  June 30  March 31 ($ in thousands)  Revenues:  Net premiums earned  $ 245,848   $ 244,465   $ 248,936   $ 251,891   $ 245,590  Net investment income   58,210    56,559    57,340    56,086    52,085  Realized investment gains (losses), net   (181 )   (114 )   68    (1,164 )   (1,140 ) Income (loss) from other invested assets   7,408    6,889    2,820    (419 )   (1,915 ) Other income   6,273    7,228    7,414    6,548    3,737  Total revenues   317,558    315,027    316,578    312,942    298,357   Losses and expenses:  Provision (benefit) for losses and LAE   31,287    40,975    30,666    (334 )   9,913   Compensation and benefits   39,692    34,527    33,792    33,364    34,709  Premium and other taxes   6,903    6,537    6,295    5,938    5,734  Ceding commission   (6,508 )   (6,547 )   (6,433 )   (5,715 )   (5,553 ) Other underwriting and operating expenses   31,037    36,434    33,227    32,615    31,950  Total other underwriting and operating expenses   71,124    70,951    66,881    66,202    66,840  Interest expense   8,148    8,151    11,457    7,849    7,862  Income before income tax expense  $ 206,999   $ 194,950   $ 207,574   $ 239,225   $ 213,742

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