Slide 1: Essent Group Ltd. Second Quarter 2020 Earnings Presentation
ESSENT GROUP LTD. SECOND QUARTER 2020 EARNINGS PRESENTATION AUGUST 7, 2020
Slide 2: Disclaimer
DISCLAIMER This presentation 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," “shou
Slide 3: Who Is Essent?
WHO IS ESSENT? Essent Group Ltd. is a Bermuda-based holding company (NYSE: ESNT) Essent Guaranty, Inc. is rated: A3 by Moody’s A (Excellent) by A.M. Best BBB+ by S&P Essent Reinsurance Ltd. is rated: A (Excellent) by A.M. Best BBB+ by S&P Operation centers in: Radnor, PA Winsto
Slide 4: Financial Results
FINANCIAL RESULTS NET PREMIUMS EARNED ($M) PRE -TAX INCOME ($M) $211.5 $207.7 $206.5 $203.5 $188.5 $177.8 $176.7 $173.3 $174.4 $172.2 $166.7 $157.0 $162.7 $152.1 $149.7 $140.1 $132.9 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 O THER UNDERWRITING & O PERATING EXPENSES ($M) $41.9 $41.6 $41.5 $41.2 $
Slide 5: Insurance In Force & New Insurance Written
INSURANCE IN FORCE & NEW INSURANCE WRITTEN $2 00.0 $1 80.0 $174.6 $164.0 $165.6 $161.0 $1 60.0 $153.3 $143.2 $137.7 $131.2 $1 40.0 $122.5 $1 20.0 $1 00.0 $8 0.0 $6 00. $4 00. $28.2 $18.0 $18.7 $15.8 $2 00. $12.9 $13.9 $11.4 $11.0 $13.5 $0 .0 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 Total New Ins
Slide 6: Underwriting Expenses
UNDERWRITING EXPENSES $5 00 . 135% $4 50 . $41.5 $41.6 $41.2 $41.9 120% $41.0 $39.4 $38.8 $4 00 . $36.4 $36.9 105% $3 50 . 90% $3 00 . 75% $2 50 . 60% $2 00 . 45% $1 5.0 30% $1 00 . 15% $5 .0 0% $0 .0 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 Underwriting Expense Underwriting Expenses ($M) ($M) E
Slide 7: Insurance In Force Portfolio
INSURANCE IN FORCE PORTFOLIO $174.6 BILLION AS OF: JUNE 30, 2020 IIF BY VINTAGE IIF BY FICO SCORE IIF BY LTV 2020 23.6% <=2015 90.01- >=95.01% 9.4% 95.00% 14.4% 2019 700+ <680 45.3% 29.3% 85.2% 6.5% 2016 9.0% 680-699 8.3% <=90.00% 2017 40.3% 2018 13.3% 15.4% $153.3 BILLION AS OF: JUNE 30, 2019 IIF B
Slide 8: Capital & Equity
CAPITAL & EQUITY 14.0:1 14.1:1 13.9:1 13.5:1 13.6:1 13.4:1 12.6:1 $4 , 00.0 11.7:1 11.7:1 10 .0 $3,623.3 $3 ,5 00.0 -10.00 $3,107.1 $3 , 00.0 $2,984.8 $2,855.2 $2,704.3 $2 ,5 00.0 $2,527.8 $2,457.4 $2,452.7 -30.00 $2,365.7 $2,335.8 $2,215.1 $2,212.3 $2,103.6 $2 , 00.0 $2,091.9 $1,987.0 $1,886.9 $1,7