Enact Holdings Inc ( (ACT) ) has released its Q1 earnings. Here is a breakdown of the information Enact Holdings Inc presented to its investors.
Enact Holdings, Inc., a leading U.S. private mortgage insurance provider, is dedicated to facilitating homeownership through partnerships with lenders, offering underwriting expertise and risk management solutions. The company, headquartered in Raleigh, North Carolina, has announced its financial results for the first quarter of 2025, highlighting a strong start to the year.
Enact Holdings reported a GAAP net income of $166 million, or $1.08 per diluted share, and an adjusted operating income of $169 million, or $1.10 per diluted share. The company’s return on equity stood at 13.1%, with a primary insurance in-force of $268 billion, marking a 2% increase from the previous year. The company maintained a robust PMIERs sufficiency of 165%, or approximately $2.0 billion.
Key financial metrics for the quarter include a net income of $166 million, a persistency rate of 84%, and net premiums earned of $245 million. Despite a 26% decrease in new insurance written due to seasonal factors, Enact’s operating expenses decreased to $53 million, reflecting disciplined expense management. The company also saw a stable net investment income of $63 million, driven by higher interest rates and invested assets.
Looking ahead, Enact Holdings remains well-positioned to navigate economic uncertainties, with a commitment to executing its strategic priorities from a position of financial strength. The company aims to continue creating value for stakeholders, supported by a stable outlook from Fitch Ratings and strategic reinsurance agreements.