Business Wire | Nov 5, 2021 06:30AM EDT

Essent Group Ltd. Announces Third Quarter 2021 Results & Increases Quarterly Dividend

Nov. 05, 2021

HAMILTON, Bermuda--(BUSINESS WIRE)--Nov. 05, 2021--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended September 30, 2021 of $205.4 million or $1.84 per diluted share, compared to $124.5 million or $1.11 per diluted share for the quarter ended September 30, 2020.

Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.19 per common share. The dividend is payable on December 10, 2021, to shareholders of record on December 1, 2021.

"We are pleased with our strong financial results which continue to reflect a positive operating environment and ongoing strength in credit performance," said Mark A. Casale, Chairman and Chief Executive Officer. "Our results for the quarter demonstrate the benefits of our economic engine in generating high quality earnings, strong returns and excess capital. In connection with our performance, we are pleased to announce that our Board has approved an increase in our quarterly dividend to $0.19 per share."

Third Quarter 2021 Financial Highlights:

* Insurance in force as of September 30, 2021 was $208.2 billion, compared to $203.6 billion as of June 30, 2021 and $190.8 billion as of September 30, 2020. * New insurance written for the third quarter was $23.6 billion, compared to $25.0 billion in the second quarter of 2021 and $36.7 billion in the third quarter of 2020. * Net premiums earned for the third quarter were $218.7 million, compared to $217.4 million in the second quarter of 2021 and $222.3 million in the third quarter of 2020. * Income from other invested assets for the third quarter included $39.5 million, or $0.28 per diluted share on an after-tax basis, pertaining to net unrealized gains associated with strategic investments in limited partnerships. Of this amount, $21.1 million represents net unrealized gains that were accumulated in other comprehensive income at June 30, 2021 and prior periods. * The expense ratio for the third quarter was 19.3%, compared to 18.9% in the second quarter of 2021 and 16.7% in the third quarter of 2020. * The provision for losses and LAE for the third quarter was a benefit of $7.5 million, compared to a provision of $9.7 million in the second quarter of 2021 and a provision of $55.3 million in the third quarter of 2020. * The percentage of loans in default as of September 30, 2021 was 2.47%, compared to 2.96% as of June 30, 2021 and 4.54% as of September 30, 2020. * The combined ratio for the third quarter was 15.9%, compared to 23.3% in the second quarter of 2021 and 41.6% in the third quarter of 2020. * The consolidated balance of cash and investments at September 30, 2021 was $5.1 billion, which includes net cash and investments available for sale at Essent Group Ltd. and Essent US Holdings, Inc. of $513.0 million. * The combined risk-to-capital ratio of the U.S. mortgage insurance business, which includes statutory capital for both Essent Guaranty, Inc. and Essent Guaranty of PA, Inc., was 10.5:1 as of September 30, 2021. * On September 24, 2021, A.M. Best affirmed its "A (Excellent)" financial strength rating of Essent Guaranty, Inc. and a long-term issuer credit rating of "a" of the operating subsidiaries of Essent Group Ltd. Essent Guaranty, Inc. also has financial strength ratings of "A3" by Moody's and "BBB+" by S&P.

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 888-510-2008 inside the U.S., or 646-960-0306 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.

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: the impact of COVID-19 and related economic conditions; 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; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; decline in new insurance written and franchise value due to loss of a significant customer; decline in the volume of low down payment mortgage originations; the definition of "Qualified Mortgage" reducing the size of the mortgage origination market or creating incentives to use government mortgage insurance programs; the definition of "Qualified Residential Mortgage" reducing the number of low down payment loans or lenders and investors seeking alternatives to private mortgage insurance; the implementation of the Basel III Capital Accord discouraging the use of private mortgage insurance; a decrease in the length of time that insurance policies are in force; uncertainty of loss reserve estimates; deteriorating economic conditions; our non-U.S. operations becoming subject to U.S. Federal income taxation; becoming considered a passive foreign investment company for U.S. Federal income tax purposes; 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, 2020 filed with the Securities and Exchange Commission on February 26, 2021, 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") which, through its wholly-owned subsidiary, Essent Guaranty, Inc., offers private mortgage insurance for single-family mortgage loans in the United States. Essent provides private capital to mitigate mortgage credit risk, allowing lenders to make additional mortgage financing available to prospective homeowners. Headquartered in Radnor, Pennsylvania, Essent Guaranty, Inc. is licensed to write mortgage insurance in all 50 states and the District of Columbia, and is approved by Fannie Mae and Freddie Mac. Essent also offers mortgage-related insurance, reinsurance and advisory services through its Bermuda-based subsidiary, Essent Reinsurance Ltd. Essent is committed to supporting environmental, social and governance ("ESG") initiatives that are relevant to the company and align with the companywide dedication to responsible corporate citizenship that positively impacts the community and people served. Additional information regarding Essent may be found at www.essentgroup.com and www.essent.us.

Source: Essent Group Ltd.





Essent Group Ltd. and Subsidiaries

Financial Results and Supplemental Information (Unaudited)

Quarter Ended September 30, 2021





Exhibit A Condensed Consolidated Statements of Comprehensive Income (Unaudited)

Exhibit B Condensed Consolidated Balance Sheets (Unaudited)

Exhibit C Historical Quarterly Data

Exhibit D New Insurance Written

Exhibit E Insurance in Force and Risk in Force

Exhibit F Other Risk in Force

Exhibit G Portfolio Vintage Data

Exhibit H Reinsurance Vintage Data

Exhibit I Portfolio Geographic Data

Exhibit J Rollforward of Defaults and Reserve for Losses and LAE

Exhibit K Detail of Reserves by Default Delinquency

Exhibit L Investments Available for Sale

Exhibit M Insurance Company Capital

Exhibit A

Essent Group Ltd. and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

(In thousands, except per share amounts)

2021

2020

2021

2020

Revenues:

Direct premiums written

$

229,228

$

243,390

$

693,434

$

677,414

Ceded premiums

(26,880

)

(21,167

)

(84,438

)

(57,544

)

Net premiums written

202,348

222,223

608,996

619,870

Decrease in unearned premiums

16,370

35

46,226

20,355

Net premiums earned

218,718

222,258

655,222

640,225

Net investment income

21,573

18,639

65,104

59,138

Realized investment gains, net

221

267

609

2,133

Income (loss) from other invested assets

40,741

(445

)

41,389

(217

)

Other income

2,283

2,319

9,270

6,676

Total revenues

283,536

243,038

771,594

707,955

Losses and expenses:

(Benefit) provision for losses and LAE

(7,483

)

55,280

34,490

239,220

Other underwriting and operating expenses

42,272

37,100

125,625

117,866

Interest expense

2,063

2,227

6,187

6,925

Total losses and expenses

36,852

94,607

166,302

364,011

Income before income taxes

246,684

148,431

605,292

343,944

Income tax expense

41,331

23,895

104,496

54,505

Net income

$

205,353

$

124,536

$

500,796

$

289,439

Earnings per share:

Basic

$

1.85

$

1.11

$

4.48

$

2.78

Diluted

1.84

1.11

4.47

2.77

Weighted average shares outstanding:

Basic

111,001

111,908

111,708

104,147

Diluted

111,387

112,134

112,070

104,383

Net income

$

205,353

$

124,536

$

500,796

$

289,439

Other comprehensive income (loss):

Change in unrealized (depreciation) appreciation of investments

(36,917

)

12,036

(59,760

)

76,247

Total other comprehensive (loss) income

(36,917

)

12,036

(59,760

)

76,247

Comprehensive income

$

168,436

$

136,572

$

441,036

$

365,686

Loss ratio

(3.4

%)

24.9

%

5.3

%

37.4

%

Expense ratio

19.3

16.7

19.2

18.4

Combined ratio

15.9

%

41.6

%

24.4

%

55.8

%

Exhibit A



Essent Group Ltd. and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income (Unaudited)





Three Months Ended Nine Months Ended September 30, September 30,

(In thousands, except 2021 2020 2021 2020per share amounts)

Revenues:

Direct premiums written $ 229,228 $ 243,390 $ 693,434 $ 677,414

Ceded premiums (26,880 ) (21,167 ) (84,438 ) (57,544 )

Net premiums written 202,348 222,223 608,996 619,870

Decrease in unearned 16,370 35 46,226 20,355 premiums

Net premiums earned 218,718 222,258 655,222 640,225

Net investment income 21,573 18,639 65,104 59,138

Realized investment 221 267 609 2,133 gains, net

Income (loss) from other 40,741 (445 ) 41,389 (217 )invested assets

Other income 2,283 2,319 9,270 6,676

Total revenues 283,536 243,038 771,594 707,955



Losses and expenses:

(Benefit) provision for (7,483 ) 55,280 34,490 239,220 losses and LAE

Other underwriting and 42,272 37,100 125,625 117,866 operating expenses

Interest expense 2,063 2,227 6,187 6,925

Total losses and 36,852 94,607 166,302 364,011 expenses



Income before income 246,684 148,431 605,292 343,944 taxes

Income tax expense 41,331 23,895 104,496 54,505

Net income $ 205,353 $ 124,536 $ 500,796 $ 289,439





Earnings per share:

Basic $ 1.85 $ 1.11 $ 4.48 $ 2.78

Diluted 1.84 1.11 4.47 2.77



Weighted average shares outstanding:

Basic 111,001 111,908 111,708 104,147

Diluted 111,387 112,134 112,070 104,383



Net income $ 205,353 $ 124,536 $ 500,796 $ 289,439



Other comprehensive income (loss):

Change in unrealized(depreciation) (36,917 ) 12,036 (59,760 ) 76,247 appreciation ofinvestments

Total othercomprehensive (loss) (36,917 ) 12,036 (59,760 ) 76,247 income

Comprehensive income $ 168,436 $ 136,572 $ 441,036 $ 365,686





Loss ratio (3.4 %) 24.9 % 5.3 % 37.4 %

Expense ratio 19.3 16.7 19.2 18.4

Combined ratio 15.9 % 41.6 % 24.4 % 55.8 %

Exhibit B

Essent Group Ltd. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

September 30,

December 31,

(In thousands, except per share amounts)

2021

2020

Assets

Investments

Fixed maturities available for sale, at fair value

$

4,560,235

$

3,838,513

Short-term investments available for sale, at fair value

309,782

726,860

Total investments available for sale

4,870,017

4,565,373

Other invested assets

161,250

88,904

Total investments

5,031,267

4,654,277

Cash

65,825

102,830

Accrued investment income

24,642

19,948

Accounts receivable

47,760

50,140

Deferred policy acquisition costs

13,307

17,005

Property and equipment

12,485

15,095

Prepaid federal income tax

348,286

302,636

Other assets

45,944

40,793

Total assets

$

5,589,516

$

5,202,724

Liabilities and Stockholders' Equity

Liabilities

Reserve for losses and LAE

$

412,956

$

374,941

Unearned premium reserve

204,210

250,436

Net deferred tax liability

356,835

305,109

Credit facility borrowings, net of deferred costs

322,614

321,720

Other accrued liabilities

124,917

87,885

Total liabilities

1,421,532

1,340,091

Commitments and contingencies

Stockholders' Equity

Common shares, $0.015 par value:

Authorized - 233,333; issued and outstanding - 110,915 shares in 2021 and 112,423 shares in 2020

1,664

1,686

Additional paid-in capital

1,493,005

1,571,163

Accumulated other comprehensive income

78,514

138,274

Retained earnings

2,594,801

2,151,510

Total stockholders' equity

4,167,984

3,862,633

Total liabilities and stockholders' equity

$

5,589,516

$

5,202,724

Return on average equity (1)

16.6

%

12.1

%

(1) The 2021 return on average equity is calculated by dividing annualized year-to-date 2021 net income by average equity. The 2020 return on average equity is calculated by dividing full year 2020 net income by average equity.

Exhibit B



Essent Group Ltd. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)





September 30, December 31,

(In thousands, except per share amounts) 2021 2020

Assets

Investments

Fixed maturities available for sale, at fair $ 4,560,235 $ 3,838,513 value

Short-term investments available for sale, at 309,782 726,860 fair value

Total investments available for sale 4,870,017 4,565,373

Other invested assets 161,250 88,904

Total investments 5,031,267 4,654,277

Cash 65,825 102,830

Accrued investment income 24,642 19,948

Accounts receivable 47,760 50,140

Deferred policy acquisition costs 13,307 17,005

Property and equipment 12,485 15,095

Prepaid federal income tax 348,286 302,636

Other assets 45,944 40,793



Total assets $ 5,589,516 $ 5,202,724



Liabilities and Stockholders' Equity

Liabilities

Reserve for losses and LAE $ 412,956 $ 374,941

Unearned premium reserve 204,210 250,436

Net deferred tax liability 356,835 305,109

Credit facility borrowings, net of deferred costs 322,614 321,720

Other accrued liabilities 124,917 87,885

Total liabilities 1,421,532 1,340,091



Commitments and contingencies



Stockholders' Equity

Common shares, $0.015 par value:

Authorized - 233,333; issued and outstanding - 1,664 1,686 110,915 shares in 2021 and 112,423 shares in 2020

Additional paid-in capital 1,493,005 1,571,163

Accumulated other comprehensive income 78,514 138,274

Retained earnings 2,594,801 2,151,510

Total stockholders' equity 4,167,984 3,862,633



Total liabilities and stockholders' equity $ 5,589,516 $ 5,202,724



Return on average equity (1) 16.6 % 12.1 %



(1) The 2021 return on average equity is calculated by dividing annualizedyear-to-date 2021 net income by average equity. The 2020 return on averageequity is calculated by dividing full year 2020 net income by average equity.

Exhibit C

Essent Group Ltd. and Subsidiaries

Supplemental Information

Historical Quarterly Data

2021

2020

Selected Income Statement Data

September 30

June 30

March 31

December 31

September 30

(In thousands, except per share amounts)

Revenues:

Net premiums earned:

U.S. Mortgage Insurance Portfolio

$

207,127

$

204,149

$

207,840

$

208,715

$

211,126

GSE and other risk share

11,591

13,288

11,227

13,624

11,132

Net premiums earned

218,718

217,437

219,067

222,339

222,258

Income (loss) from other invested assets (1)

40,741

122

526

2

(445

)

Other revenues (2)

24,077

25,702

25,204

24,858

21,225

Total revenues

283,536

243,261

244,797

247,199

243,038

Losses and expenses:

(Benefit) provision for losses and LAE

(7,483

)

9,651

32,322

62,073

55,280

Other underwriting and operating expenses

42,272

41,114

42,239

36,825

37,100

Interest expense

2,063

2,073

2,051

2,149

2,227

Total losses and expenses

36,852

52,838

76,612

101,047

94,607

Income before income taxes

246,684

190,423

168,185

146,152

148,431

Income tax expense (3)

41,331

30,628

32,537

22,550

23,895

Net income

$

205,353

$

159,795

$

135,648

$

123,602

$

124,536

Earnings per share:

Basic

$

1.85

$

1.43

$

1.21

$

1.10

$

1.11

Diluted

1.84

1.42

1.21

1.10

1.11

Weighted average shares outstanding:

Basic

111,001

112,118

112,016

111,908

111,908

Diluted

111,387

112,454

112,378

112,310

112,134

Book value per share

$

37.58

$

36.32

$

34.75

$

34.36

$

33.33

Return on average equity (annualized)

19.9

%

16.0

%

13.9

%

13.0

%

13.5

%

Other Data:

Loss ratio (4)

(3.4

%)

4.4

%

14.8

%

27.9

%

24.9

%

Expense ratio (5)

19.3

18.9

19.3

16.6

16.7

Combined ratio

15.9

%

23.3

%

34.0

%

44.5

%

41.6

%

Credit Facility

Borrowings outstanding

$

325,000

$

325,000

$

325,000

$

325,000

$

425,000

Undrawn committed capacity

$

300,000

$

300,000

$

300,000

$

300,000

$

75,000

Weighted average interest rate (end of period)

2.13

%

2.13

%

2.13

%

2.19

%

1.90

%

Debt-to-capital

7.23

%

7.37

%

7.65

%

7.76

%

10.19

%

(1) Income from other invested assets for the three months ended September 30, 2021 includes $39.5 million of net unrealized gains, which includes $21.1 million of net unrealized gains that were accumulated in other comprehensive income at June 30, 2021 and prior periods.

(2) Certain of our third-party reinsurance agreements contain an embedded derivative as the premium ceded under those agreements will vary based on changes in interest rates. For each of the three month periods noted, Other revenues include net favorable (unfavorable) changes in the fair value of these embedded derivatives as follows: September 30, 2021: ($1,493); June 30, 2021: $950; March 31, 2021: ($606); December 31, 2020: ($209); September 30, 2020: ($677).

(3) Income tax expense for the quarter ended September 30, 2021 includes $8,271 of discrete tax expense associated with realized and unrealized gains and losses. Income tax expense for the quarter ended March 31, 2021 includes $5,718 of discrete tax expense associated with an increase in the estimate of our beginning of the year deferred state income tax liability.

(4) Loss ratio is calculated by dividing the provision for losses and LAE by net premiums earned.

(5) Expense ratio is calculated by dividing other underwriting and operating expenses by net premiums earned.

Exhibit C

Essent Group Ltd. and Subsidiaries

Supplemental Information

Historical Quarterly Data



2021 2020

Selected Income September 30 June 30 March 31 December 31 SeptemberStatement Data 30

(In thousands,except per share amounts)

Revenues:

Net premiums earned:

U.S. MortgageInsurance $ 207,127 $ 204,149 $ 207,840 $ 208,715 $ 211,126 Portfolio

GSE and other 11,591 13,288 11,227 13,624 11,132 risk share

Net premiums 218,718 217,437 219,067 222,339 222,258 earned

Income (loss)from other 40,741 122 526 2 (445 )invested assets(1)

Other revenues 24,077 25,702 25,204 24,858 21,225 (2)

Total revenues 283,536 243,261 244,797 247,199 243,038



Losses and expenses:

(Benefit)provision for (7,483 ) 9,651 32,322 62,073 55,280 losses and LAE

Otherunderwriting 42,272 41,114 42,239 36,825 37,100 and operatingexpenses

Interest 2,063 2,073 2,051 2,149 2,227 expense

Total losses 36,852 52,838 76,612 101,047 94,607 and expenses



Income before 246,684 190,423 168,185 146,152 148,431 income taxes

Income tax 41,331 30,628 32,537 22,550 23,895 expense (3)

Net income $ 205,353 $ 159,795 $ 135,648 $ 123,602 $ 124,536



Earnings per share:

Basic $ 1.85 $ 1.43 $ 1.21 $ 1.10 $ 1.11

Diluted 1.84 1.42 1.21 1.10 1.11



Weightedaverage shares outstanding:

Basic 111,001 112,118 112,016 111,908 111,908

Diluted 111,387 112,454 112,378 112,310 112,134



Book value per $ 37.58 $ 36.32 $ 34.75 $ 34.36 $ 33.33 share

Return onaverage equity 19.9 % 16.0 % 13.9 % 13.0 % 13.5 %(annualized)



Other Data:

Loss ratio (4) (3.4 %) 4.4 % 14.8 % 27.9 % 24.9 %

Expense ratio 19.3 18.9 19.3 16.6 16.7 (5)

Combined ratio 15.9 % 23.3 % 34.0 % 44.5 % 41.6 %



Credit Facility

Borrowings $ 325,000 $ 325,000 $ 325,000 $ 325,000 $ 425,000 outstanding

Undrawncommitted $ 300,000 $ 300,000 $ 300,000 $ 300,000 $ 75,000 capacity

Weightedaverage 2.13 % 2.13 % 2.13 % 2.19 % 1.90 %interest rate(end of period)

Debt-to-capital 7.23 % 7.37 % 7.65 % 7.76 % 10.19 %



(1) Income from other invested assets for the three months ended September 30,2021 includes $39.5 million of net unrealized gains, which includes $21.1million of net unrealized gains that were accumulated in other comprehensiveincome at June 30, 2021 and prior periods.

(2) Certain of our third-party reinsurance agreements contain an embeddedderivative as the premium ceded under those agreements will vary based onchanges in interest rates. For each of the three month periods noted, Otherrevenues include net favorable (unfavorable) changes in the fair value of theseembedded derivatives as follows: September 30, 2021: ($1,493); June 30, 2021:$950; March 31, 2021: ($606); December 31, 2020: ($209); September 30, 2020:($677).

(3) Income tax expense for the quarter ended September 30, 2021 includes $8,271of discrete tax expense associated with realized and unrealized gains andlosses. Income tax expense for the quarter ended March 31, 2021 includes $5,718of discrete tax expense associated with an increase in the estimate of ourbeginning of the year deferred state income tax liability.

(4) Loss ratio is calculated by dividing the provision for losses and LAE bynet premiums earned.

(5) Expense ratio is calculated by dividing other underwriting and operatingexpenses by net premiums earned.

Exhibit C, continued

Essent Group Ltd. and Subsidiaries

Supplemental Information

Historical Quarterly Data

2021

2020

Other Data, continued:

September 30

June 30

March 31

December 31

September 30

($ in thousands)

U.S. Mortgage Insurance Portfolio

Flow:

New insurance written

$

23,579,884

$

25,004,854

$

19,254,014

$

29,566,820

$

36,664,583

New risk written

6,273,735

6,445,864

4,616,450

7,051,173

8,938,544

Bulk:

New insurance written

$

-

$

-

$

-

$

-

$

-

New risk written

-

-

-

-

-

Total:

New insurance written

$

23,579,884

$

25,004,854

$

19,254,014

$

29,566,820

$

36,664,583

New risk written

$

6,273,735

$

6,445,864

$

4,616,450

$

7,051,173

$

8,938,544

Average insurance in force

$

206,732,478

$

199,739,297

$

197,749,668

$

195,670,925

$

183,135,315

Insurance in force (end of period)

$

208,216,549

$

203,559,859

$

197,091,191

$

198,882,352

$

190,811,292

Gross risk in force (end of period) (6)

$

52,457,020

$

50,835,835

$

48,951,602

$

49,565,150

$

47,838,668

Risk in force (end of period)

$

45,074,159

$

42,906,519

$

41,135,978

$

41,339,262

$

41,219,216

Policies in force

798,877

794,743

785,382

799,893

781,836

Weighted average coverage (7)

25.2

%

25.0

%

24.8

%

24.9

%

25.1

%

Annual persistency

62.2

%

58.3

%

56.1

%

60.1

%

64.2

%

Loans in default (count)

19,721

23,504

29,080

31,469

35,464

Percentage of loans in default

2.47

%

2.96

%

3.70

%

3.93

%

4.54

%

U.S. Mortgage Insurance Portfolio premium rate:

Base average premium rate (8)

0.42

%

0.43

%

0.44

%

0.44

%

0.45

%

Single premium cancellations (9)

0.03

%

0.03

%

0.04

%

0.05

%

0.06

%

Gross average premium rate

0.45

%

0.46

%

0.48

%

0.49

%

0.51

%

Ceded premiums

(0.05

%)

(0.05

%)

(0.06

%)

(0.06

%)

(0.05

%)

Net average premium rate

0.40

%

0.41

%

0.42

%

0.43

%

0.46

%

(6) Gross risk in force includes risk ceded under third-party reinsurance.

(7) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force.

(8) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period.

(9) 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 C, continued

Essent Group Ltd. and Subsidiaries

Supplemental Information

Historical Quarterly Data





2021 2020

Other Data, September 30 June 30 March 31 December 31 September 30continued:

($ in thousands)



U.S. Mortgage Insurance Portfolio

Flow:

New insurance $ 23,579,884 $ 25,004,854 $ 19,254,014 $ 29,566,820 $ 36,664,583 written

New risk 6,273,735 6,445,864 4,616,450 7,051,173 8,938,544 written



Bulk:

New insurance $ - $ - $ - $ - $ - written

New risk - - - - - written



Total:

New insurance $ 23,579,884 $ 25,004,854 $ 19,254,014 $ 29,566,820 $ 36,664,583 written

New risk $ 6,273,735 $ 6,445,864 $ 4,616,450 $ 7,051,173 $ 8,938,544 written



Averageinsurance in $ 206,732,478 $ 199,739,297 $ 197,749,668 $ 195,670,925 $ 183,135,315 force

Insurance inforce (end of $ 208,216,549 $ 203,559,859 $ 197,091,191 $ 198,882,352 $ 190,811,292 period)

Gross risk inforce (end of $ 52,457,020 $ 50,835,835 $ 48,951,602 $ 49,565,150 $ 47,838,668 period) (6)

Risk in force(end of $ 45,074,159 $ 42,906,519 $ 41,135,978 $ 41,339,262 $ 41,219,216 period)

Policies in 798,877 794,743 785,382 799,893 781,836 force

Weightedaverage 25.2 % 25.0 % 24.8 % 24.9 % 25.1 %coverage (7)

Annual 62.2 % 58.3 % 56.1 % 60.1 % 64.2 %persistency



Loans indefault 19,721 23,504 29,080 31,469 35,464 (count)

Percentage ofloans in 2.47 % 2.96 % 3.70 % 3.93 % 4.54 %default



U.S. Mortgage Insurance Portfolio premium rate:

Base averagepremium rate 0.42 % 0.43 % 0.44 % 0.44 % 0.45 %(8)

Singlepremium 0.03 % 0.03 % 0.04 % 0.05 % 0.06 %cancellations(9)

Gross average 0.45 % 0.46 % 0.48 % 0.49 % 0.51 %premium rate

Ceded (0.05 %) (0.05 %) (0.06 %) (0.06 %) (0.05 %)premiums

Net average 0.40 % 0.41 % 0.42 % 0.43 % 0.46 %premium rate



(6) Gross risk in force includes risk ceded under third-party reinsurance.

(7) Weighted average coverage is calculated by dividing end of period grossrisk in force by end of period insurance in force.

(8) Base average premium rate is calculated by dividing annualized basepremiums earned by average insurance in force for the period.

(9) Single premium cancellations is calculated by dividing annualized premiumson the cancellation of non-refundable single premium policies by averageinsurance in force for the period.

Exhibit D

Essent Group Ltd. and Subsidiaries

Supplemental Information

New Insurance Written: Flow

NIW by Credit Score

Three Months Ended

Nine Months Ended

September 30, 2021

September 30, 2020

September 30, 2021

September 30, 2020

($ in thousands)

>=760

$

9,257,407

39.3

%

$

16,887,062

46.1

%

$

27,778,887

40.9

%

$

34,706,705

44.3

%

740-759

3,892,226

16.5

6,557,520

17.9

10,858,015

16.0

14,316,011

18.3

720-739

3,656,963

15.5

5,238,462

14.3

10,316,977

15.2

11,609,703

14.8

700-719

3,345,696

14.2

4,187,254

11.4

9,328,577

13.8

9,024,266

11.5

680-699

2,361,529

10.0

2,131,994

5.8

5,855,301

8.6

5,127,817

6.5

<=679

1,066,063

4.5

1,662,291

4.5

3,700,995

5.5

3,592,592

4.6

Total

$

23,579,884

100.0

%

$

36,664,583

100.0

%

$

67,838,752

100.0

%

$

78,377,094

100.0

%

Weighted average credit score

744

751

745

749

NIW by LTV

Three Months Ended

Nine Months Ended

September 30, 2021

September 30, 2020

September 30, 2021

September 30, 2020

($ in thousands)

85.00% and below

$

2,336,949

9.9

%

$

6,815,158

18.6

%

$

9,660,937

14.2

%

$

13,807,437

17.6

%

85.01% to 90.00%

5,860,301

24.9

11,324,610

30.9

19,192,675

28.3

24,391,509

31.1

90.01% to 95.00%

11,574,090

49.1

14,781,544

40.3

30,090,325

44.4

31,382,298

40.1

95.01% and above

3,808,544

16.1

3,743,271

10.2

8,894,815

13.1

8,795,850

11.2

Total

$

23,579,884

100.0

%

$

36,664,583

100.0

%

$

67,838,752

100.0

%

$

78,377,094

100.0

%

Weighted average LTV

93

%

91

%

92

%

91

%

NIW by Product

Three Months Ended

Nine Months Ended

September 30, 2021

September 30, 2020

September 30, 2021

September 30, 2020

Single Premium policies

2.5

%

8.6

%

4.1

%

9.5

%

Monthly Premium policies

97.5

91.4

95.9

90.5

100.0

%

100.0

%

100.0

%

100.0

%

NIW by Purchase vs. Refinance

Three Months Ended

Nine Months Ended

September 30, 2021

September 30, 2020

September 30, 2021

September 30, 2020

Purchase

90.9

%

61.1

%

79.6

%

60.0

%

Refinance

9.1

38.9

20.4

40.0

100.0

%

100.0

%

100.0

%

100.0

%

Exhibit D



Essent Group Ltd. and Subsidiaries

Supplemental Information

New Insurance Written: Flow



NIW by Credit Score

Three Months Ended Nine Months Ended

September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020

($ in thousands)

>=760 $ 9,257,407 39.3 % $ 16,887,062 46.1 % $ 27,778,887 40.9 % $ 34,706,705 44.3 %

740-759 3,892,226 16.5 6,557,520 17.9 10,858,015 16.0 14,316,011 18.3

720-739 3,656,963 15.5 5,238,462 14.3 10,316,977 15.2 11,609,703 14.8

700-719 3,345,696 14.2 4,187,254 11.4 9,328,577 13.8 9,024,266 11.5

680-699 2,361,529 10.0 2,131,994 5.8 5,855,301 8.6 5,127,817 6.5

<=679 1,066,063 4.5 1,662,291 4.5 3,700,995 5.5 3,592,592 4.6

Total $ 23,579,884 100.0 % $ 36,664,583 100.0 % $ 67,838,752 100.0 % $ 78,377,094 100.0 %



Weightedaverage 744 751 745 749 creditscore





NIW by LTV

Three Months Ended Nine Months Ended

September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020

($ in thousands)

85.00% and $ 2,336,949 9.9 % $ 6,815,158 18.6 % $ 9,660,937 14.2 % $ 13,807,437 17.6 %below

85.01% to 5,860,301 24.9 11,324,610 30.9 19,192,675 28.3 24,391,509 31.1 90.00%

90.01% to 11,574,090 49.1 14,781,544 40.3 30,090,325 44.4 31,382,298 40.1 95.00%

95.01% and 3,808,544 16.1 3,743,271 10.2 8,894,815 13.1 8,795,850 11.2 above

Total $ 23,579,884 100.0 % $ 36,664,583 100.0 % $ 67,838,752 100.0 % $ 78,377,094 100.0 %



Weightedaverage 93 % 91 % 92 % 91 % LTV





NIW by Product

Three Months Ended Nine Months Ended

September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020

SinglePremium 2.5 % 8.6 % 4.1 % 9.5 %policies

MonthlyPremium 97.5 91.4 95.9 90.5 policies

100.0 % 100.0 % 100.0 % 100.0 %





NIW by Purchase vs. Refinance

Three Months Ended Nine Months Ended

September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020

Purchase 90.9 % 61.1 % 79.6 % 60.0 %

Refinance 9.1 38.9 20.4 40.0

100.0 % 100.0 % 100.0 % 100.0 %

Exhibit E

Essent Group Ltd. and Subsidiaries

Supplemental Information

Insurance in Force and Risk in Force

Portfolio by Credit Score

IIF by FICO score

September 30, 2021

June 30, 2021

September 30, 2020

($ in thousands)

>=760

$

85,833,588

41.2

%

$

84,110,514

41.3

%

$

78,923,142

41.4

%

740-759

35,234,863

16.9

34,636,115

17.0

33,229,396

17.4

720-739

31,291,415

15.1

30,471,320

15.0

28,496,228

15.0

700-719

26,136,910

12.6

25,177,026

12.4

22,748,385

11.9

680-699

16,758,439

8.0

15,962,389

7.8

15,302,772

8.0

<=679

12,961,334

6.2

13,202,495

6.5

12,111,369

6.3

Total

$

208,216,549

100.0

%

$

203,559,859

100.0

%

$

190,811,292

100.0

%

Weighted average credit score

745

745

745

Gross RIF by FICO score

September 30, 2021

June 30, 2021

September 30, 2020

($ in thousands)

>=760

$

21,414,607

40.8

%

$

20,807,006

40.9

%

$

19,606,502

41.0

%

740-759

8,958,297

17.1

8,729,038

17.2

8,395,009

17.5

720-739

8,020,171

15.3

7,745,794

15.2

7,251,499

15.2

700-719

6,652,117

12.7

6,342,378

12.5

5,738,412

12.0

680-699

4,250,044

8.1

3,998,410

7.9

3,853,734

8.0

<=679

3,161,784

6.0

3,213,209

6.3

2,993,512

6.3

Total

$

52,457,020

100.0

%

$

50,835,835

100.0

%

$

47,838,668

100.0

%

Portfolio by LTV

IIF by LTV

September 30, 2021

June 30, 2021

September 30, 2020

($ in thousands)

85.00% and below

$

28,452,535

13.7

%

$

29,045,720

14.3

%

$

23,979,065

12.6

%

85.01% to 90.00%

60,257,704

28.9

60,027,287

29.5

55,453,633

29.1

90.01% to 95.00%

90,957,363

43.7

87,382,625

42.9

84,573,433

44.3

95.01% and above

28,548,947

13.7

27,104,227

13.3

26,805,161

14.0

Total

$

208,216,549

100.0

%

$

203,559,859

100.0

%

$

190,811,292

100.0

%

Weighted average LTV

92

%

92

%

92

%

Gross RIF by LTV

September 30, 2021

June 30, 2021

September 30, 2020

($ in thousands)

85.00% and below

$

3,311,106

6.3

%

$

3,360,970

6.6

%

$

2,759,320

5.8

%

85.01% to 90.00%

14,506,577

27.7

14,421,749

28.4

13,307,205

27.8

90.01% to 95.00%

26,410,513

50.3

25,329,870

49.8

24,391,376

51.0

95.01% and above

8,228,824

15.7

7,723,246

15.2

7,380,767

15.4

Total

$

52,457,020

100.0

%

$

50,835,835

100.0

%

$

47,838,668

100.0

%

Portfolio by Loan Amortization Period

IIF by Loan Amortization Period

September 30, 2021

June 30, 2021

September 30, 2020

($ in thousands)

FRM 30 years and higher

$

198,392,156

95.3

%

$

192,995,698

94.8

%

$

180,135,430

94.4

%

FRM 20-25 years

3,974,602

1.9

4,269,217

2.1

3,945,019

2.1

FRM 15 years

4,419,750

2.1

4,742,281

2.3

4,417,092

2.3

ARM 5 years and higher

1,430,041

0.7

1,552,663

0.8

2,313,751

1.2

Total

$

208,216,549

100.0

%

$

203,559,859

100.0

%

$

190,811,292

100.0

%

Exhibit E



Essent Group Ltd. and Subsidiaries

Supplemental Information

Insurance in Force and Risk in Force





Portfolio by Credit Score

IIF by FICO September 30, 2021 June 30, 2021 September 30, 2020score

($ in thousands)

>=760 $ 85,833,588 41.2 % $ 84,110,514 41.3 % $ 78,923,142 41.4 %

740-759 35,234,863 16.9 34,636,115 17.0 33,229,396 17.4

720-739 31,291,415 15.1 30,471,320 15.0 28,496,228 15.0

700-719 26,136,910 12.6 25,177,026 12.4 22,748,385 11.9

680-699 16,758,439 8.0 15,962,389 7.8 15,302,772 8.0

<=679 12,961,334 6.2 13,202,495 6.5 12,111,369 6.3

Total $ 208,216,549 100.0 % $ 203,559,859 100.0 % $ 190,811,292 100.0 %



Weightedaverage 745 745 745 credit score



Gross RIF by September 30, 2021 June 30, 2021 September 30, 2020FICO score

($ in thousands)

>=760 $ 21,414,607 40.8 % $ 20,807,006 40.9 % $ 19,606,502 41.0 %

740-759 8,958,297 17.1 8,729,038 17.2 8,395,009 17.5

720-739 8,020,171 15.3 7,745,794 15.2 7,251,499 15.2

700-719 6,652,117 12.7 6,342,378 12.5 5,738,412 12.0

680-699 4,250,044 8.1 3,998,410 7.9 3,853,734 8.0

<=679 3,161,784 6.0 3,213,209 6.3 2,993,512 6.3

Total $ 52,457,020 100.0 % $ 50,835,835 100.0 % $ 47,838,668 100.0 %



Portfolio by LTV

IIF by LTV September 30, 2021 June 30, 2021 September 30, 2020

($ in thousands)

85.00% and $ 28,452,535 13.7 % $ 29,045,720 14.3 % $ 23,979,065 12.6 %below

85.01% to 60,257,704 28.9 60,027,287 29.5 55,453,633 29.1 90.00%

90.01% to 90,957,363 43.7 87,382,625 42.9 84,573,433 44.3 95.00%

95.01% and 28,548,947 13.7 27,104,227 13.3 26,805,161 14.0 above

Total $ 208,216,549 100.0 % $ 203,559,859 100.0 % $ 190,811,292 100.0 %



Weighted 92 % 92 % 92 % average LTV



Gross RIF by September 30, 2021 June 30, 2021 September 30, 2020LTV

($ in thousands)

85.00% and $ 3,311,106 6.3 % $ 3,360,970 6.6 % $ 2,759,320 5.8 %below

85.01% to 14,506,577 27.7 14,421,749 28.4 13,307,205 27.8 90.00%

90.01% to 26,410,513 50.3 25,329,870 49.8 24,391,376 51.0 95.00%

95.01% and 8,228,824 15.7 7,723,246 15.2 7,380,767 15.4 above

Total $ 52,457,020 100.0 % $ 50,835,835 100.0 % $ 47,838,668 100.0 %



Portfolio by Loan Amortization Period

IIF by LoanAmortization September 30, 2021 June 30, 2021 September 30, 2020Period

($ in thousands)

FRM 30years and $ 198,392,156 95.3 % $ 192,995,698 94.8 % $ 180,135,430 94.4 %higher

FRM 20-25 3,974,602 1.9 4,269,217 2.1 3,945,019 2.1 years

FRM 15 4,419,750 2.1 4,742,281 2.3 4,417,092 2.3 years

ARM 5years and 1,430,041 0.7 1,552,663 0.8 2,313,751 1.2 higher

Total $ 208,216,549 100.0 % $ 203,559,859 100.0 % $ 190,811,292 100.0 %

Exhibit F

Essent Group Ltd. and Subsidiaries

Supplemental Information

Other Risk in Force

2021

2020

($ in thousands)

September 30

June 30

March 31

December 31

September 30

GSE and other risk share (1):

Risk in Force

$

1,568,800

$

1,496,247

$

1,534,174

$

1,416,719

$

1,216,353

Reserve for losses and LAE

$

1,389

$

1,390

$

1,312

$

1,073

$

718

Weighted average credit score

748

747

747

746

747

Weighted average LTV

84

%

84

%

84

%

84

%

84

%

(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 F



Essent Group Ltd. and Subsidiaries

Supplemental Information

Other Risk in Force



2021 2020

($ in September 30 June 30 March 31 December 31 September 30thousands)

GSE andother risk share (1):

Risk in $ 1,568,800 $ 1,496,247 $ 1,534,174 $ 1,416,719 $ 1,216,353 Force

Reservefor losses $ 1,389 $ 1,390 $ 1,312 $ 1,073 $ 718 and LAE



Weightedaverage 748 747 747 746 747 creditscore

Weightedaverage 84 % 84 % 84 % 84 % 84 %LTV



(1) GSE and other risk share includes GSE risk share and other reinsurancetransactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance orreinsurance relating to the risk in force on loans in reference pools acquiredby Freddie Mac and Fannie Mae.

Exhibit G

Essent Group Ltd. and Subsidiaries

Supplemental Information

Portfolio Vintage Data

September 30, 2021

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 - 2014

$

60,668,851

$

3,679,908

6.1

%

22,495

4.31

%

81.4

%

70.8

%

4.9

%

15.0

%

42.5

%

3.3

%

1,124

5.00

%

2015

26,193,656

3,613,111

13.8

20,414

4.16

86.5

65.4

3.4

17.6

40.0

4.5

915

4.48

2016

34,949,319

7,191,077

20.6

38,011

3.86

87.8

64.7

8.7

15.2

43.9

5.5

1,665

4.38

2017

43,858,322

9,881,021

22.5

53,501

4.26

90.2

64.7

17.9

19.6

38.0

8.9

3,138

5.87

2018

47,508,525

11,062,279

23.3

57,104

4.77

93.6

66.6

23.2

20.7

33.8

14.5

3,863

6.76

2019

63,569,183

23,609,156

37.1

103,202

4.21

85.4

64.9

22.0

18.8

35.7

24.0

5,007

4.85

2020

107,944,065

83,556,296

77.4

297,734

3.19

62.2

51.3

11.2

11.4

44.4

16.3

3,563

1.20

2021 (through September 30)

67,838,752

65,623,701

96.7

206,416

3.05

80.0

57.9

13.4

14.1

40.6

7.6

446

0.22

Total

$

452,530,673

$

208,216,549

46.0

798,877

3.46

75.1

57.4

13.7

14.3

41.2

9.4

19,721

2.47

(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 G



Essent Group Ltd. and Subsidiaries

Supplemental Information

Portfolio Vintage Data

September 30, 2021





Insurance in Force

Original Remaining % Incurred Insurance Insurance Remaining Number of Weighted Loss Ratio Number PercentageYear of Policies Average % >90% >95% FICO < FICO > (Inception of Loans of Loans Written in Force Original in Force Coupon Purchase LTV LTV 700 = 760 to Date) in in Default (1) Default ($ in ($ in Insurance thousands) thousands)



2010 - $ 60,668,851 $ 3,679,908 6.1 % 22,495 4.31 % 81.4 % 70.8 % 4.9 % 15.0 % 42.5 % 3.3 % 1,124 5.00 %2014

2015 26,193,656 3,613,111 13.8 20,414 4.16 86.5 65.4 3.4 17.6 40.0 4.5 915 4.48

2016 34,949,319 7,191,077 20.6 38,011 3.86 87.8 64.7 8.7 15.2 43.9 5.5 1,665 4.38

2017 43,858,322 9,881,021 22.5 53,501 4.26 90.2 64.7 17.9 19.6 38.0 8.9 3,138 5.87

2018 47,508,525 11,062,279 23.3 57,104 4.77 93.6 66.6 23.2 20.7 33.8 14.5 3,863 6.76

2019 63,569,183 23,609,156 37.1 103,202 4.21 85.4 64.9 22.0 18.8 35.7 24.0 5,007 4.85

2020 107,944,065 83,556,296 77.4 297,734 3.19 62.2 51.3 11.2 11.4 44.4 16.3 3,563 1.20

2021(through 67,838,752 65,623,701 96.7 206,416 3.05 80.0 57.9 13.4 14.1 40.6 7.6 446 0.22 September30)

Total $ 452,530,673 $ 208,216,549 46.0 798,877 3.46 75.1 57.4 13.7 14.3 41.2 9.4 19,721 2.47



(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 H

Essent Group Ltd. and Subsidiaries

Supplemental Information

Reinsurance Vintage Data

September 30, 2021

($ in thousands)

Excess of Loss Reinsurance

Original

Reinsurance in Force

Remaining

Reinsurance in Force

Earned Premiums Ceded

Year

Remaining

Insurance

in Force

Remaining

Risk

in Force

ILN (1)

Other Reinsurance (2)

Total

ILN

Other Reinsurance

Total

Losses

Ceded

to Date

Original

First Layer

Retention

Remaining

First Layer

Retention

Quarter-to-Date

Year-to-Date

Reduction in PMIERs Minimum Required

Assets (7)

2015 & 2016

$

10,456,730

$

2,819,155

$

333,844

$

-

$

333,844

$

216,480

$

-

$

216,480

$

-

$

208,111

$

207,228

$

1,212

$

3,631

$

-

2017

9,626,915

2,477,614

424,412

165,167

589,579

242,123

165,167

407,290

-

224,689

217,662

2,681

7,976

-

2018

10,872,992

2,769,084

473,184

118,650

591,834

325,537

76,144

401,681

-

253,643

249,595

3,221

9,604

-

2019 (3)

13,147,399

3,359,701

495,889

55,102

550,991

495,889

55,102

550,991

-

215,605

215,198

2,778

8,290

76,545

2019 & 2020 (4)

34,844,588

8,778,381

399,159

-

399,159

233,980

-

233,980

-

465,690

465,690

4,486

14,399

148,858

2020 & 2021 (5)

53,337,485

12,988,275

557,911

-

557,911

557,911

-

557,911

-

278,956

278,956

3,714

3,980

557,911

Total

$

132,286,109

$

33,192,210

$

2,684,399

$

338,919

$

3,023,318

$

2,071,920

$

296,413

$

2,368,333

$

-

$

1,646,694

$

1,634,329

$

18,092

$

47,880

$

783,314

Exhibit H



Essent Group Ltd. and Subsidiaries

Supplemental Information

Reinsurance Vintage Data

September 30, 2021

($ in thousands)

Original RemainingExcess of Loss Reinsurance Earned Premiums Ceded Reinsurance in Force Reinsurance in Force

Remaining Remaining Losses Original Remaining Reduction in PMIERs Other Other Minimum RequiredYear Insurance Risk ILN (1) Reinsurance Total ILN Reinsurance Total Ceded First Layer First Layer Quarter-to-Date Year-to-Date (2) Assets (7) in Force in Force to Date Retention Retention

2015 & $ 10,456,730 $ 2,819,155 $ 333,844 $ - $ 333,844 $ 216,480 $ - $ 216,480 $ - $ 208,111 $ 207,228 $ 1,212 $ 3,631 $ - 2016

2017 9,626,915 2,477,614 424,412 165,167 589,579 242,123 165,167 407,290 - 224,689 217,662 2,681 7,976 -

2018 10,872,992 2,769,084 473,184 118,650 591,834 325,537 76,144 401,681 - 253,643 249,595 3,221 9,604 -

2019 (3) 13,147,399 3,359,701 495,889 55,102 550,991 495,889 55,102 550,991 - 215,605 215,198 2,778 8,290 76,545

2019 & 34,844,588 8,778,381 399,159 - 399,159 233,980 - 233,980 - 465,690 465,690 4,486 14,399 148,858 2020 (4)

2020 & 53,337,485 12,988,275 557,911 - 557,911 557,911 - 557,911 - 278,956 278,956 3,714 3,980 557,911 2021 (5)

Total $ 132,286,109 $ 33,192,210 $ 2,684,399 $ 338,919 $ 3,023,318 $ 2,071,920 $ 296,413 $ 2,368,333 $ - $ 1,646,694 $ 1,634,329 $ 18,092 $ 47,880 $ 783,314

Quota Share Reinsurance

Losses Ceded

Ceding Commission

Earned Premiums Ceded

Year

Remaining

Insurance

in Force

Remaining

Risk

in Force

Remaining Ceded Insurance in Force

Remaining Ceded Risk in Force

Quarter-to-Date

Year-to-Date

Quarter-to-Date

Year-to-Date

Quarter-to-Date

Year-to-Date

Reduction in PMIERs Minimum Required

Assets (7)

2019 & 2020

(6)

$

93,411,304

$

23,055,319

$

20,512,448

$

5,014,528

$

(307)

$

7,949

$

4,547

$

14,304

$

8,788

$

36,558

$

335,553

(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) Reinsurance coverage on new insurance written from January 1, 2019 through August 31, 2019.

(4) Reinsurance coverage on new insurance written from September 1, 2019 through July 31, 2020.

(5) Reinsurance coverage on new insurance written from August 1, 2020 through March 31, 2021.

(6) Reinsurance coverage on 40% of eligible single premium policies and 20% of all other eligible policies written from September 1, 2019 through December 31, 2020.

(7) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assets based on our interpretation of the PMIERs.

Quota Share Reinsurance

Losses Ceded Ceding Commission Earned Premiums Ceded

Remaining Remaining Reduction Remaining Remaining in PMIERsYear Insurance Risk Ceded Ceded Risk in Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Minimum Insurance in Force Required in Force in Force Force Assets (7)

2019& (6) $ 93,411,304 $ 23,055,319 $ 20,512,448 $ 5,014,528 $ (307) $ 7,949 $ 4,547 $ 14,304 $ 8,788 $ 36,558 $ 335,553 2020



(1) Reinsurance provided by unaffiliated special purpose insurers through theissuance of mortgage insurance-linked notes ("ILNs").

(2) Reinsurance provided by panels of reinsurers.

(3) Reinsurance coverage on new insurance written from January 1, 2019 throughAugust 31, 2019.

(4) Reinsurance coverage on new insurance written from September 1, 2019through July 31, 2020.

(5) Reinsurance coverage on new insurance written from August 1, 2020 throughMarch 31, 2021.

(6) Reinsurance coverage on 40% of eligible single premium policies and 20% ofall other eligible policies written from September 1, 2019 through December 31,2020.

(7) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assetsbased on our interpretation of the PMIERs.

Exhibit I

Essent Group Ltd. and Subsidiaries

Supplemental Information

Portfolio Geographic Data

IIF by State

September 30, 2021

June 30, 2021

September 30, 2020

CA

13.1

%

12.9

%

11.2

%

TX

9.8

9.8

9.6

FL

9.5

9.3

8.5

CO

4.1

4.1

4.1

WA

3.7

3.7

3.9

IL

3.4

3.3

3.5

AZ

3.4

3.5

3.5

VA

3.1

3.1

3.2

NJ

3.1

3.1

3.4

GA

3.1

3.1

3.1

All Others

43.7

44.1

46.0

Total

100.0

%

100.0

%

100.0

%

Gross RIF by State

September 30, 2021

June 30, 2021

September 30, 2020

CA

12.9

%

12.7

%

11.0

%

TX

10.1

10.1

9.9

FL

9.8

9.6

8.7

CO

4.1

4.1

4.0

WA

3.7

3.6

3.9

AZ

3.3

3.4

3.4

IL

3.3

3.2

3.4

GA

3.1

3.1

3.1

VA

3.1

3.0

3.1

NJ

3.0

3.0

3.3

All Others

43.6

44.2

46.2

Total

100.0

%

100.0

%

100.0

%

Exhibit I



Essent Group Ltd. and Subsidiaries

Supplemental Information

Portfolio Geographic Data





IIF by State

September 30, 2021 June 30, 2021 September 30, 2020

CA 13.1 % 12.9 % 11.2 %

TX 9.8 9.8 9.6

FL 9.5 9.3 8.5

CO 4.1 4.1 4.1

WA 3.7 3.7 3.9

IL 3.4 3.3 3.5

AZ 3.4 3.5 3.5

VA 3.1 3.1 3.2

NJ 3.1 3.1 3.4

GA 3.1 3.1 3.1

All Others 43.7 44.1 46.0

Total 100.0 % 100.0 % 100.0 %



Gross RIF by State

September 30, 2021 June 30, 2021 September 30, 2020

CA 12.9 % 12.7 % 11.0 %

TX 10.1 10.1 9.9

FL 9.8 9.6 8.7

CO 4.1 4.1 4.0

WA 3.7 3.6 3.9

AZ 3.3 3.4 3.4

IL 3.3 3.2 3.4

GA 3.1 3.1 3.1

VA 3.1 3.0 3.1

NJ 3.0 3.0 3.3

All Others 43.6 44.2 46.2

Total 100.0 % 100.0 % 100.0 %



Exhibit J

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

2021

2020

September 30

June 30

March 31

December 31

September 30

Beginning default inventory

23,504

29,080

31,469

35,464

38,068

Plus: new defaults (A)

5,132

4,934

7,422

8,745

12,614

Less: cures

(8,862

)

(10,453

)

(9,737

)

(12,679

)

(15,135

)

Less: claims paid

(41

)

(46

)

(61

)

(49

)

(67

)

Less: rescissions and denials, net

(12

)

(11

)

(13

)

(12

)

(16

)

Ending default inventory

19,721

23,504

29,080

31,469

35,464

(A) New defaults remaining as of September 30, 2021

3,820

2,230

2,396

2,250

2,360

Cure rate (1)

26

%

55

%

68

%

74

%

81

%

Total amount paid for claims (in thousands)

$

1,069

$

1,154

$

1,989

$

1,922

$

2,557

Average amount paid per claim (in thousands)

$

26

$

25

$

33

$

39

$

38

Severity

60

%

57

%

70

%

62

%

77

%

Rollforward of Reserve for Losses and LAE

Three Months Ended

2021

2020

($ in thousands)

September 30

June 30

March 31

December 31

September 30

Reserve for losses and LAE at beginning of period

$

420,482

$

409,811

$

373,868

$

307,019

$

250,862

Less: Reinsurance recoverables

27,286

24,907

19,061

11,898

7,761

Net reserve for losses and LAE at beginning of period

393,196

384,904

354,807

295,121

243,101

Add provision for losses and LAE occurring in:

Current period

11,371

24,534

47,763

63,597

55,660

Prior years

(18,853

)

(14,961

)

(15,680

)

(1,879

)

(1,070

)

Incurred losses and LAE during the period

(7,482

)

9,573

32,083

61,718

54,590

Deduct payments for losses and LAE occurring in:

Current period

103

14

114

524

205

Prior years

1,014

1,267

1,872

1,508

2,365

Loss and LAE payments during the period

1,117

1,281

1,986

2,032

2,570

Net reserve for losses and LAE at end of period

384,597

393,196

384,904

354,807

295,121

Plus: Reinsurance recoverables

26,970

27,286

24,907

19,061

11,898

Reserve for losses and LAE at end of period

$

411,567

$

420,482

$

409,811

$

373,868

$

307,019

(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 J



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

2021 2020

September June 30 March 31 December 31 September 30 30

Beginningdefault 23,504 29,080 31,469 35,464 38,068 inventory

Plus: new 5,132 4,934 7,422 8,745 12,614 defaults (A)

Less: cures (8,862 ) (10,453 ) (9,737 ) (12,679 ) (15,135 )

Less: claims (41 ) (46 ) (61 ) (49 ) (67 )paid

Less:rescissions (12 ) (11 ) (13 ) (12 ) (16 )and denials,net

Endingdefault 19,721 23,504 29,080 31,469 35,464 inventory



(A) Newdefaultsremaining as 3,820 2,230 2,396 2,250 2,360 of September30, 2021

Cure rate 26 % 55 % 68 % 74 % 81 %(1)



Total amountpaid for $ 1,069 $ 1,154 $ 1,989 $ 1,922 $ 2,557 claims (inthousands)

Averageamount paidper claim $ 26 $ 25 $ 33 $ 39 $ 38 (inthousands)

Severity 60 % 57 % 70 % 62 % 77 %



Rollforward of Reserve for Losses and LAE

Three Months Ended

2021 2020

($ in September June 30 March 31 December 31 Septemberthousands) 30 30

Reserve forlosses andLAE at $ 420,482 $ 409,811 $ 373,868 $ 307,019 $ 250,862 beginning ofperiod

Less:Reinsurance 27,286 24,907 19,061 11,898 7,761 recoverables

Net reservefor lossesand LAE at 393,196 384,904 354,807 295,121 243,101 beginning ofperiod

Addprovisionfor losses and LAEoccurringin:

Current 11,371 24,534 47,763 63,597 55,660 period

Prior years (18,853 ) (14,961 ) (15,680 ) (1,879 ) (1,070 )

Incurredlosses and (7,482 ) 9,573 32,083 61,718 54,590 LAE duringthe period

Deductpayments forlosses and LAEoccurringin:

Current 103 14 114 524 205 period

Prior years 1,014 1,267 1,872 1,508 2,365

Loss and LAEpayments 1,117 1,281 1,986 2,032 2,570 during theperiod

Net reservefor lossesand LAE at 384,597 393,196 384,904 354,807 295,121 end ofperiod

Plus:Reinsurance 26,970 27,286 24,907 19,061 11,898 recoverables

Reserve forlosses and $ 411,567 $ 420,482 $ 409,811 $ 373,868 $ 307,019 LAE at endof period



(1) The cure rate is calculated by dividing new defaults remaining as of thereporting date by the original number of new defaults reported in the quarterlyperiod and subtracting that percentage from 100%.

Exhibit K

Essent Group Ltd. and Subsidiaries

Supplemental Information

Detail of Reserves by Default Delinquency

U.S. Mortgage Insurance Portfolio

September 30, 2021

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:

Three payments or less

3,823

20

%

$

20,438

5

%

$

223,065

9

%

Four to eleven payments

6,738

34

103,062

27

426,282

24

Twelve or more payments

9,108

46

254,499

67

595,444

43

Pending claims

52

-

2,037

1

2,516

81

Total case reserves

19,721

100

%

380,036

100

%

$

1,247,307

30

IBNR

28,503

LAE

3,028

Total reserves for losses and LAE

$

411,567

Average reserve per default:

Case

$

19.3

Total

$

20.9

Default Rate

2.47%

December 31, 2020

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:

Three payments or less

6,631

21

%

$

47,905

14

%

$

384,668

12

%

Four to eleven payments

23,543

75

260,593

76

1,553,593

17

Twelve or more payments

1,243

4

32,593

9

67,501

48

Pending claims

52

-

2,199

1

2,843

77

Total case reserves

31,469

100

%

343,290

100

%

$

2,008,605

17

IBNR

25,747

LAE

4,831

Total reserves for losses and LAE

$

373,868

Average reserve per default:

Case

$

10.9

Total

$

11.9

Default Rate

3.93%

September 30, 2020

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:

Three payments or less

9,237

26

%

$

58,296

21

%

$

554,524

11

%

Four to eleven payments

25,290

71

194,892

69

1,697,419

11

Twelve or more payments

891

3

24,842

9

48,612

51

Pending claims

46

-

2,417

1

2,840

85

Total case reserves

35,464

100

%

280,447

100

%

$

2,303,395

12

IBNR

21,034

LAE

5,538

Total reserves for losses and LAE

$

307,019

Average reserve per default:

Case

$

7.9

Total

$

8.7

Default Rate

4.54%

Exhibit K

Essent Group Ltd. and Subsidiaries

Supplemental Information

Detail of Reserves by Default Delinquency

U.S. Mortgage Insurance Portfolio



September 30, 2021

Number Percentage Reserves of of as a Amount of Percentage Percentage Policies Policies Reserves of Defaulted RIF of in in Reserves Defaulted Default Default RIF

($ in thousands)

Missed Payments:

Threepayments 3,823 20 % $ 20,438 5 % $ 223,065 9 %or less

Four toeleven 6,738 34 103,062 27 426,282 24 payments

Twelve ormore 9,108 46 254,499 67 595,444 43 payments

Pending 52 - 2,037 1 2,516 81 claims

Totalcase 19,721 100 % 380,036 100 % $ 1,247,307 30 reserves

IBNR 28,503

LAE 3,028

Totalreservesfor $ 411,567 lossesand LAE



Averagereserve per default:

Case $ 19.3

Total $ 20.9



Default 2.47% Rate



December 31, 2020

Number Percentage Reserves of of as a Amount of Percentage Percentage Policies Policies Reserves of Defaulted RIF of in in Reserves Defaulted Default Default RIF

($ in thousands)

Missed Payments:

Threepayments 6,631 21 % $ 47,905 14 % $ 384,668 12 %or less

Four toeleven 23,543 75 260,593 76 1,553,593 17 payments

Twelve ormore 1,243 4 32,593 9 67,501 48 payments

Pending 52 - 2,199 1 2,843 77 claims

Totalcase 31,469 100 % 343,290 100 % $ 2,008,605 17 reserves

IBNR 25,747

LAE 4,831

Totalreservesfor $ 373,868 lossesand LAE



Averagereserve per default:

Case $ 10.9

Total $ 11.9



Default 3.93% Rate



September 30, 2020

Number Percentage Reserves of of as a Amount of Percentage Percentage Policies Policies Reserves of Defaulted RIF of in in Reserves Defaulted Default Default RIF

($ in thousands)

Missed Payments:

Threepayments 9,237 26 % $ 58,296 21 % $ 554,524 11 %or less

Four toeleven 25,290 71 194,892 69 1,697,419 11 payments

Twelve ormore 891 3 24,842 9 48,612 51 payments

Pending 46 - 2,417 1 2,840 85 claims

Totalcase 35,464 100 % 280,447 100 % $ 2,303,395 12 reserves

IBNR 21,034

LAE 5,538

Totalreservesfor $ 307,019 lossesand LAE



Averagereserve per default:

Case $ 7.9

Total $ 8.7



Default 4.54% Rate



Exhibit L

Essent Group Ltd. and Subsidiaries

Supplemental Information

Investments Available for Sale

Investments Available for Sale by Asset Class

Asset Class

September 30, 2021

December 31, 2020

($ in thousands)

Fair Value

Percent

Fair Value

Percent

U.S. Treasury securities

$

331,216

6.8

%

$

268,444

5.9

%

U.S. agency securities

5,536

0.1

18,085

0.4

U.S. agency mortgage-backed securities

989,552

20.3

995,905

21.8

Municipal debt securities

592,458

12.2

551,517

12.1

Non-U.S. government securities

79,994

1.6

61,607

1.3

Corporate debt securities

1,524,144

31.3

1,126,512

24.7

Residential and commercial mortgage securities

539,186

11.1

409,282

9.0

Asset-backed securities

554,475

11.4

454,717

9.9

Money market funds

253,456

5.2

679,304

14.9

Total investments available for sale

$

4,870,017

100.0

%

$

4,565,373

100.0

%

Investments Available for Sale by Credit Rating

Rating (1)

September 30, 2021

December 31, 2020

($ in thousands)

Fair Value

Percent

Fair Value

Percent

Aaa

$

2,356,302

48.4

%

$

2,564,746

56.2

%

Aa1

106,743

2.2

133,100

2.9

Aa2

320,018

6.6

260,462

5.7

Aa3

212,516

4.4

204,917

4.5

A1

288,177

5.9

249,710

5.5

A2

459,205

9.4

401,175

8.8

A3

293,220

6.0

229,882

5.0

Baa1

302,771

6.2

260,602

5.7

Baa2

260,360

5.4

178,926

3.9

Baa3

190,999

3.9

48,199

1.1

Below Baa3

79,706

1.6

33,654

0.7

Total investments available for sale

$

4,870,017

100.0

%

$

4,565,373

100.0

%

(1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available.

Investments Available for Sale by Duration and Book Yield

Effective Duration

September 30, 2021

December 31, 2020

($ in thousands)

Fair Value

Percent

Fair Value

Percent

< 1 Year

$

1,181,803

24.3

%

$

1,568,505

34.4

%

1 to < 2 Years

644,007

13.2

581,003

12.7

2 to < 3 Years

530,003

10.9

616,069

13.5

3 to < 4 Years

688,472

14.1

426,333

9.3

4 to < 5 Years

493,847

10.1

367,633

8.1

5 or more Years

1,331,885

27.4

1,005,830

22.0

Total investments available for sale

$

4,870,017

100.0

%

$

4,565,373

100.0

%

Pre-tax investment income yield:

Three months ended September 30, 2021

1.93

%

Nine months ended September 30, 2021

1.97

%

Exhibit L



Essent Group Ltd. and Subsidiaries

Supplemental Information

Investments Available for Sale





Investments Available for Sale by Asset Class

Asset Class September 30, 2021 December 31, 2020

($ in thousands) Fair Value Percent Fair Value Percent

U.S. Treasury securities $ 331,216 6.8 % $ 268,444 5.9 %

U.S. agency securities 5,536 0.1 18,085 0.4

U.S. agency mortgage-backed 989,552 20.3 995,905 21.8 securities

Municipal debt securities 592,458 12.2 551,517 12.1

Non-U.S. government 79,994 1.6 61,607 1.3 securities

Corporate debt securities 1,524,144 31.3 1,126,512 24.7

Residential and commercial 539,186 11.1 409,282 9.0 mortgage securities

Asset-backed securities 554,475 11.4 454,717 9.9

Money market funds 253,456 5.2 679,304 14.9

Total investments available $ 4,870,017 100.0 % $ 4,565,373 100.0 %for sale



Investments Available for Sale by Credit Rating

Rating (1) September 30, 2021 December 31, 2020

($ in thousands) Fair Value Percent Fair Value Percent

Aaa $ 2,356,302 48.4 % $ 2,564,746 56.2 %

Aa1 106,743 2.2 133,100 2.9

Aa2 320,018 6.6 260,462 5.7

Aa3 212,516 4.4 204,917 4.5

A1 288,177 5.9 249,710 5.5

A2 459,205 9.4 401,175 8.8

A3 293,220 6.0 229,882 5.0

Baa1 302,771 6.2 260,602 5.7

Baa2 260,360 5.4 178,926 3.9

Baa3 190,999 3.9 48,199 1.1

Below Baa3 79,706 1.6 33,654 0.7

Total investments available $ 4,870,017 100.0 % $ 4,565,373 100.0 %for sale



(1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available.



Investments Available for Sale by Duration and Book Yield

Effective Duration September 30, 2021 December 31, 2020

($ in thousands) Fair Value Percent Fair Value Percent

< 1 Year $ 1,181,803 24.3 % $ 1,568,505 34.4 %

1 to < 2 Years 644,007 13.2 581,003 12.7

2 to < 3 Years 530,003 10.9 616,069 13.5

3 to < 4 Years 688,472 14.1 426,333 9.3

4 to < 5 Years 493,847 10.1 367,633 8.1

5 or more Years 1,331,885 27.4 1,005,830 22.0

Total investments available $ 4,870,017 100.0 % $ 4,565,373 100.0 %for sale



Pre-tax investment income yield:

Three months ended 1.93 % September 30, 2021

Nine months ended September 1.97 % 30, 2021

Holding company net cash and investments available for sale: (2)

($ in thousands)

As of September 30, 2021

$

513,000

As of December 31, 2020

$

574,901

(2) Includes net cash and investments available for sale at Essent Group Ltd. and Essent US Holdings, Inc.

Holding company net cash and investments available for sale: (2)

($ in thousands)

As of September 30, 2021 $ 513,000

As of December 31, 2020 $ 574,901



(2) Includes net cash and investments available for sale at Essent Group Ltd.and Essent US Holdings, Inc.

Exhibit M

Essent Group Ltd. and Subsidiaries

Supplemental Information

Insurance Company Capital

2021

2020

September 30

June 30

March 31

December 31

September 30

($ in thousands)

U.S. Mortgage Insurance Subsidiaries:

Combined statutory capital (1)

$

2,916,802

$

2,809,087

$

2,778,131

$

2,659,161

$

2,581,136

Combined net risk in force (2)

$

30,766,379

$

29,646,042

$

29,358,191

$

29,493,572

$

29,821,246

Risk-to-capital ratios: (3)

Essent Guaranty, Inc.

10.9:1

10.9:1

11.0:1

11.5:1

12.0:1

Essent Guaranty of PA, Inc.

1.0:1

1.1:1

1.4:1

1.7:1

2.0:1

Combined (4)

10.5:1

10.6:1

10.6:1

11.1:1

11.6:1

Essent Guaranty, Inc. PMIERs Data (5):

Available Assets

$

3,161,780

$

3,016,050

$

2,996,651

$

2,855,923

$

2,720,432

Minimum Required Assets

1,951,096

1,731,843

1,864,262

1,671,011

1,739,479

PMIERs excess Available Assets

$

1,210,684

$

1,284,207

$

1,132,389

$

1,184,912

$

980,953

PMIERs sufficiency ratio (6)

162

%

174

%

161

%

171

%

156

%

Essent Reinsurance Ltd.:

Stockholder's equity (GAAP basis)

$

1,249,996

$

1,192,077

$

1,136,504

$

1,101,003

$

1,061,546

Net risk in force (2)

$

15,466,651

$

14,338,567

$

12,905,289

$

12,892,300

$

12,312,124

(1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc., 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) 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211105005192/en/

CONTACT: Media Contact 610.230.0556 media@essentgroup.com

CONTACT: Investor Relations Contact Christopher G. Curran Senior Vice President - Investor Relations 855-809-ESNT ir@essentgroup.com