◆ Market Data --:--
Commodities
Loading...
📈 Yields & Rates
Loading...
💱 FX Rates
Loading...
📈 Market Pulse
Loading...
🏛 Congress Trades
Loading...
👤 Insider Trades
Loading...
Customize Items

10-Q Filing

ESSENT GROUP LTD. CIK: 1448893 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001448893-23-000047
Period End Date 20230331
Filing Date 20230510
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance esnt-20230331_htm.xml
Filing Contents
Balance Sheet 65 line items
Line Item Tag Value Unit Period
Amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $5.18B USD Point-in-time
Amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $5.33B USD Point-in-time
Total investments available for sale AvailableForSaleSecuritiesDebtSecurities $4.74B USD Point-in-time
Total investments available for sale AvailableForSaleSecuritiesDebtSecurities $4.95B USD Point-in-time
Other invested assets EquityMethodInvestments $255.29M USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $68.05M USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $67.35M USD Point-in-time
Other invested assets EquityMethodInvestments $257.94M USD Point-in-time
Total investments Investments $5.21B USD Point-in-time
Total investments Investments $5.00B USD Point-in-time
Cash Cash $68.63M USD Point-in-time
Unamortized deferred costs DeferredFinanceCostsGross $4.14M USD Point-in-time
Unamortized deferred costs DeferredFinanceCostsGross $3.87M USD Point-in-time
Cash Cash $81.24M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $33.16M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $36.90M USD Point-in-time
Common shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Accounts receivable NotesReceivableNet $61.28M USD Point-in-time
Accounts receivable NotesReceivableNet $57.40M USD Point-in-time
Common shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Deferred policy acquisition costs DeferredPolicyAcquisitionCosts $9.91M USD Point-in-time
Common shares, authorized (in shares) CommonStockSharesAuthorized 233.33M shares Point-in-time
Deferred policy acquisition costs DeferredPolicyAcquisitionCosts $9.51M USD Point-in-time
Common shares, authorized (in shares) CommonStockSharesAuthorized 233.33M shares Point-in-time
Property and equipment (at cost, less accumulated depreciation of $68,050 in 2023 and $67,352 in 2022) PropertyPlantAndEquipmentNet $19.57M USD Point-in-time
Property and equipment (at cost, less accumulated depreciation of $68,050 in 2023 and $67,352 in 2022) PropertyPlantAndEquipmentNet $18.51M USD Point-in-time
Common shares, issued (in shares) CommonStockSharesIssued 107.68M shares Point-in-time
Common shares, issued (in shares) CommonStockSharesIssued 107.66M shares Point-in-time
Prepaid federal income tax MortgageGuarantyInsurerUnitedStatesMortgageGuarantyTaxAndLossBonds $418.46M USD Point-in-time
Common shares, outstanding (in shares) CommonStockSharesOutstanding 107.68M shares Point-in-time
Prepaid federal income tax MortgageGuarantyInsurerUnitedStatesMortgageGuarantyTaxAndLossBonds $418.46M USD Point-in-time
Common shares, outstanding (in shares) CommonStockSharesOutstanding 107.66M shares Point-in-time
Other assets OtherAssets $104.49M USD Point-in-time
Other assets OtherAssets $108.89M USD Point-in-time
Total assets Assets $5.93B USD Point-in-time
Total assets Assets $5.72B USD Point-in-time
Reserve for losses and LAE LiabilityForClaimsAndClaimsAdjustmentExpense $407.44M USD Point-in-time
Reserve for losses and LAE LiabilityForClaimsAndClaimsAdjustmentExpense $216.02M USD Point-in-time
Reserve for losses and LAE LiabilityForClaimsAndClaimsAdjustmentExpense $293.07M USD Point-in-time
Reserve for losses and LAE LiabilityForClaimsAndClaimsAdjustmentExpense $216.46M USD Point-in-time
Unearned premium reserve UnearnedPremiums $157.53M USD Point-in-time
Unearned premium reserve UnearnedPremiums $162.89M USD Point-in-time
Net deferred tax liability DeferredIncomeTaxLiabilitiesNet $383.12M USD Point-in-time
Net deferred tax liability DeferredIncomeTaxLiabilitiesNet $356.81M USD Point-in-time
Credit facility borrowings (at carrying value, less unamortized deferred costs of $3,872 in 2023 and $4,136 in 2022) LineOfCredit $420.86M USD Point-in-time
Credit facility borrowings (at carrying value, less unamortized deferred costs of $3,872 in 2023 and $4,136 in 2022) LineOfCredit $421.13M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrentAndNoncurrent $104.46M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrentAndNoncurrent $100.77M USD Point-in-time
Total liabilities Liabilities $1.26B USD Point-in-time
Total liabilities Liabilities $1.28B USD Point-in-time
Commitments and contingencies (see Note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (see Note 7) CommitmentsAndContingencies - USD Point-in-time
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 107,659 shares in 2023 and 107,683 shares in 2022 CommonStockValue $1.61M USD Point-in-time
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 107,659 shares in 2023 and 107,683 shares in 2022 CommonStockValue $1.61M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.33B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.35B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-324.04M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-382.79M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.49B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.64B USD Point-in-time
Total stockholders equity StockholdersEquity $4.46B USD Point-in-time
Total stockholders equity StockholdersEquity $4.65B USD Point-in-time
Total stockholders equity StockholdersEquity $4.22B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $5.93B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $5.72B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Change in unrealized appreciation (depreciation) of investments, tax expense (benefit) OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent $-35.90M USD 1 Quarter
Change in unrealized appreciation (depreciation) of investments, tax expense (benefit) OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent $9.43M USD 1 Quarter
Net premiums written PremiumsWrittenNet $199.73M USD 1 Quarter
Net premiums written PremiumsWrittenNet $205.90M USD 1 Quarter
Decrease in unearned premiums IncreaseDecreaseInUnearnedPremiumsNet $5.36M USD 1 Quarter
Decrease in unearned premiums IncreaseDecreaseInUnearnedPremiumsNet $15.60M USD 1 Quarter
Net premiums earned PremiumsEarnedNet $211.26M USD 1 Quarter
Net premiums earned PremiumsEarnedNet $215.33M USD 1 Quarter
Net investment income NetInvestmentIncome $24.68M USD 1 Quarter
Net investment income NetInvestmentIncome $43.24M USD 1 Quarter
Realized investment losses, net RealizedInvestmentGainsLosses $-488.00K USD 1 Quarter
Realized investment losses, net RealizedInvestmentGainsLosses $-7.35M USD 1 Quarter
(Loss) income from other invested assets IncomeLossFromEquityMethodInvestments $-2.70M USD 1 Quarter
(Loss) income from other invested assets IncomeLossFromEquityMethodInvestments $24.70M USD 1 Quarter
Other income OtherIncome $7.25M USD 1 Quarter
Other income OtherIncome $4.94M USD 1 Quarter
Total revenues Revenues $256.25M USD 1 Quarter
Total revenues Revenues $264.61M USD 1 Quarter
(Benefit) provision for losses and LAE LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1 $-180.00K USD 1 Quarter
(Benefit) provision for losses and LAE LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1 $-106.86M USD 1 Quarter
Other underwriting and operating expenses OtherUnderwritingAndOperatingExpenses $48.20M USD 1 Quarter
Other underwriting and operating expenses OtherUnderwritingAndOperatingExpenses $40.80M USD 1 Quarter
Interest expense InterestExpense $6.94M USD 1 Quarter
Interest expense InterestExpense $2.23M USD 1 Quarter
Total losses and expenses BenefitsLossesAndExpenses $54.95M USD 1 Quarter
Total losses and expenses BenefitsLossesAndExpenses $-63.84M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $201.29M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $328.45M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $30.47M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $54.28M USD 1 Quarter
Net income NetIncomeLoss $274.17M USD 1 Quarter
Net income NetIncomeLoss $170.83M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.60 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $2.53 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.59 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $2.52 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 108.17M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 106.94M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 107.58M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 108.59M shares 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $170.83M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $274.17M USD 1 Quarter
Change in unrealized appreciation (depreciation) of investments, net of tax expense (benefit) of $9,428 and ($35,897) in the three months ended March 31, 2023 and 2022 OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-203.01M USD 1 Quarter
Change in unrealized appreciation (depreciation) of investments, net of tax expense (benefit) of $9,428 and ($35,897) in the three months ended March 31, 2023 and 2022 OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $58.75M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-203.01M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $58.75M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $229.58M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $71.16M USD 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $274.17M USD 1 Quarter
Net income NetIncomeLoss $170.83M USD 1 Quarter
Loss on the sale of investments, net RealizedInvestmentGainsLosses $-488.00K USD 1 Quarter
Loss on the sale of investments, net RealizedInvestmentGainsLosses $-7.35M USD 1 Quarter
Loss (income) from other invested assets IncomeLossFromEquityMethodInvestments $-2.70M USD 1 Quarter
Loss (income) from other invested assets IncomeLossFromEquityMethodInvestments $24.70M USD 1 Quarter
Distribution of income from other invested assets EquityMethodInvestmentDividendsOrDistributions $851.00K USD 1 Quarter
Distribution of income from other invested assets EquityMethodInvestmentDividendsOrDistributions $4.45M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $698.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $755.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $5.11M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $4.81M USD 1 Quarter
Amortization of premium on investment securities InvestmentIncomeAmortizationOfPremium $3.20M USD 1 Quarter
Amortization of premium on investment securities InvestmentIncomeAmortizationOfPremium $7.12M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $22.16M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $16.88M USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $3.73M USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $-3.31M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-1.01M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $2.60M USD 1 Quarter
Deferred policy acquisition costs IncreaseDecreaseInDeferredPolicyAcquisitionCosts $-399.00K USD 1 Quarter
Deferred policy acquisition costs IncreaseDecreaseInDeferredPolicyAcquisitionCosts $-1.03M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $4.06M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-4.91M USD 1 Quarter
Reserve for losses and LAE IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $-114.37M USD 1 Quarter
Reserve for losses and LAE IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $-442.00K USD 1 Quarter
Unearned premium reserve IncreaseDecreaseInUnearnedPremiums $-5.36M USD 1 Quarter
Unearned premium reserve IncreaseDecreaseInUnearnedPremiums $-15.60M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInAccruedLiabilities $4.23M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInAccruedLiabilities $-166.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $180.63M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $184.79M USD 1 Quarter
Net change in short-term investments PaymentsForProceedsFromShortTermInvestments $95.72M USD 1 Quarter
Net change in short-term investments PaymentsForProceedsFromShortTermInvestments $204.28M USD 1 Quarter
Purchase of investments available for sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $798.28M USD 1 Quarter
Purchase of investments available for sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $281.56M USD 1 Quarter
Proceeds from maturity of investments available for sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $54.03M USD 1 Quarter
Proceeds from maturity of investments available for sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $412.44M USD 1 Quarter
Proceeds from sales of investments available for sale ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $333.51M USD 1 Quarter
Proceeds from sales of investments available for sale ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $493.21M USD 1 Quarter
Purchase of other invested assets PaymentsToAcquireEquityMethodInvestments $1.95M USD 1 Quarter
Purchase of other invested assets PaymentsToAcquireEquityMethodInvestments $21.80M USD 1 Quarter
Return of investment from other invested assets ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $1.04M USD 1 Quarter
Return of investment from other invested assets ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital - USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $716.00K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $390.00K USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $38.89M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-149.34M USD 1 Quarter
Treasury stock acquired PaymentsForRepurchaseOfCommonStock $75.42M USD 1 Quarter
Treasury stock acquired PaymentsForRepurchaseOfCommonStock $21.28M USD 1 Quarter
Payment of issuance costs for credit facility PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payment of issuance costs for credit facility PaymentsOfDebtIssuanceCosts $154.00K USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $26.77M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $21.59M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-97.17M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-48.05M USD 1 Quarter
Net (decrease) increase in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-12.61M USD 1 Quarter
Net (decrease) increase in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $122.35M USD 1 Quarter
Cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $81.24M USD Point-in-time
Cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $81.49M USD Point-in-time
Cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $68.63M USD Point-in-time
Cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $203.84M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $81.24M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $81.49M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $68.63M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $203.84M USD Point-in-time
Income tax payments IncomeTaxesPaid - USD 1 Quarter
Income tax payments IncomeTaxesPaid - USD 1 Quarter
Interest payments InterestPaidNet $6.40M USD 1 Quarter
Interest payments InterestPaidNet $1.89M USD 1 Quarter
Lease liabilities arising from obtaining right-of-use assets RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $87.00K USD 1 Quarter
Lease liabilities arising from obtaining right-of-use assets RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $9.17M USD 1 Quarter
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Balance, beginning of period StockholdersEquity $4.46B USD Point-in-time
Balance, beginning of period StockholdersEquity $4.65B USD Point-in-time
Balance, beginning of period StockholdersEquity $4.22B USD Point-in-time
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-203.01M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $58.75M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $170.83M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $274.17M USD 1 Quarter
Balance, end of period StockholdersEquity $4.46B USD Point-in-time
Balance, end of period StockholdersEquity $4.65B USD Point-in-time
Balance, end of period StockholdersEquity $4.22B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

NEWS
Loading article...
NEWS
Loading news...
TRENDING
Loading...