Enact Holdings Inc ( (ACT) ) has released its Q4 earnings. Here is a breakdown of the information Enact Holdings Inc presented to its investors.
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Enact Holdings Inc., headquartered in Raleigh, North Carolina, is a leading provider of private mortgage insurance in the United States, dedicated to facilitating homeownership through robust underwriting expertise and comprehensive risk management solutions.
The company announced its financial results for the fourth quarter and full year 2024, reporting a solid performance with a GAAP net income of $163 million and an adjusted operating income of $169 million for the quarter, reflecting its adept handling of complex market conditions.
Key highlights include a record $269 billion in primary insurance in-force, a return on equity of 13.0%, and significant capital returns to shareholders amounting to over $350 million throughout 2024. Despite a slight decrease in net income from the previous quarter, the company maintained a strong financial position with a PMIERs sufficiency of 167% and continued to enhance shareholder value through dividends and share repurchases.
Looking ahead, Enact’s management remains optimistic about the company’s growth trajectory, supported by strategic reinsurance agreements and a stable financial outlook. The company is well-positioned to capitalize on future opportunities and deliver sustained value to its stakeholders.
