Capital ReturnEssent Group has repurchased 6.8M shares for $387M, indicating strong capital return.
EarningsThe 2Q EPS of $1.93 was ahead of BofAe/consensus at $1.62/$1.70, driven by better credit, OpEx, and stronger top-line results.
Financial PerformanceRevenue and new insurance written (NIW) was better than forecast, the loss ratio at 12% remains in-check, and book value grew 13% y/y.