Enact Holdings, Inc. (ACT) FY2025 10-K Annual Report
Enact Holdings, Inc. (ACT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Enact Holdings, Inc. FY2025 10-K Analysis
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
Enact Holdings, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$1.2B
▲ +2.8% YoY
Net Income
$674M
▼ -2.0% YoY
Net Margin
54.6%
▼ -270bp YoY
ROE
12.6%
▼ -118bp YoY
Total Assets
$6.9B
▲ +5.7% YoY
EPS (Diluted)
$4.52
▲ +3.4% YoY
Operating Cash Flow
$725M
▲ +5.6% YoY
Source: XBRL data from Enact Holdings, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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