Capital AllocationManagement's willingness to repurchase shares at current valuations and to lean into buybacks during market dislocations could support per-share value by reducing outstanding shares while maintaining conservative capital deployment.
Reinsurance Availability And Book Value GrowthSustained access to reinsurance markets, combined with improved mortgage credit quality, supports targeted book value per share growth and strengthens the ability to realize earnings from the in-force portfolio.
Underwriting Platform AdvantageProprietary EssentEdge platform that targets higher-yield business and optimizes pricing can expand margins and provide a durable competitive edge if credit competition intensifies in the mortgage insurance market.