ESNT Essent Group Ltd.
FY2025 10-K
Essent Group Ltd. (ESNT) filed its fiscal year 2025 10-K annual report with the SEC on Feb 18, 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 model: Private mortgage insurance and reinsurance services supporting U.S. housing finance, with key segments Mortgage Insurance and newly separate Reinsurance
- • New segment report: Reinsurance split out from Mortgage Insurance starting Q4 2025, reflecting entry into Lloyd's market for property and casualty reinsurance in 2026
Management Discussion & Analysis
- • Total revenue $1.15B in 2025 vs $1.14B in 2024, Mortgage Insurance net premiums earned $867M up 1.3% YoY ($855.8M in 2024)
- • Operating income before tax $768.3M in 2025 vs $804.9M in 2024, combined ratio 32.9% in 2025 vs 26.3% in 2024 (worsened margin)
Risk Factors
- • Consumer Financial Protection Bureau ("CFPB") QM rule may reduce origination market, incentivizing use of government mortgage insurance programs over private insurers
- • Top ten customers generated 59.3% of NIW in 2025, up from 50.2% in 2024, increasing dependency on key customers
Financial SummaryXBRL
Revenue
$1.3B
Net Income
$690M
Net Margin
54.7%
ROE
12.0%
Total Assets
$7.4B
EPS (Diluted)
$6.90
Operating Cash Flow
$856M
Source: XBRL data from Essent Group Ltd. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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