ACT Enact Holdings, Inc.
FY2025 10-K
Enact Holdings, Inc. (ACT) filed its fiscal year 2025 10-K annual report with the SEC on Feb 27, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Private mortgage insurance provider covering Low Down Payment Loans across all US states and DC, facilitating secondary mortgage market sales
- • New emphasis: Expanded credit risk transfer (CRT) program as a central risk management and capital efficiency strategy
Management Discussion & Analysis
- • Revenue flat with premiums marginally up; net earned premium rate slightly down from 36 to 35 bps
- • Adjusted operating income $687.8M in 2025 vs $718.4M in 2024; decline due to higher losses offset by better investment income and lower expenses
Risk Factors
- • Regulatory risk from FHFA/PMIERs affecting capital relief via Credit Risk Transfer program, essential for risk and capital management
- • Macroeconomic exposure to rising interest rates (6.67% weighted average mortgage rate 2024) impacting mortgage origination and persistency
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