Slide 1: Essent Second Quarter 2017 Earnings Presentation
Essent Second Quarter 2017 Earnings Presentation August 4, 2017
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 BBB+ by S&P and Baa2 by Moody’s • Essent Reinsurance Ltd. is rated BBB+ by S&P • Operation centers in • Radnor, PA • Winston-Salem, NC • Irvine, CA • Bermuda-domiciled reinsurance comp
Slide 4: Financial Results
Financial Results ESSENT" NET PREMIUMS EARNED ($M) PRE-TAX INCOME ($M) " 2 n s 3 fa! w” ” 2Q-15 3Q15 4Q-15 1Q16 2Q-16 3Q16 4Q-16 1Q-17 2Q-17 OTHER UNDERWRITING & OPERATING EXPENSES ($M) + Ll & 2Q-15 3Q15 4Q-15 1Q16 290-16 3Q16 4Q-16 1Q-17 2Q-17 2Q-15 3Q15 4Q-15 1Q16 2Q16 3Q-16 4Q16 1Q17 2Q-17
Slide 5: Insurance in Force and New Insurance Written
Insurance in Force and New Insurance Written 4
Slide 6: Underwriting Expenses
Underwriting Expenses (1) Expense ratio is calculated by dividing other underwriting and operating expenses by net premiums earned. (2) Loss ratio plus expense ratio. 5
Slide 7: In Force Portfolio
ESSENT® In Force Portfolio $95.5 BILLION AS OF JUNE 30, 2017 IF BY VINTAGE IF BY FICO SCORE IF BY LTV >=95.01% 90.01-95.00% 5.6% 50.5% 2016 2011 & Prior 0.5% 2012 3.4% 2015 2014 20.4% 13.4% <=90.00% 43.9% $72.3 BILLION AS OF JUNE 30, 2016 IIF BY VINTAGE lIF BY FICO SCORE IF BY LTV 2011 & Prior 2015
Slide 8: Capital and Equity
Capital and Equity 7 (1) Represents combined metrics for the U.S. insurance subsidiaries Essent Guaranty, Inc. and Essent Guaranty of PA, Inc.