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Reinsurance - Schedule of Total Assets and Maximum Exposure Loss (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Variable Interest Entity [Line Items]
Total VIE Assets	$ 1,229,957
Radnor Re 2021-1 \| Reinsurance Policy, Type [Axis]: Vintage Year Aug 2020 - Mar 2021
Variable Interest Entity [Line Items]
Total VIE Assets	190,062
Radnor Re 2021-2 \| Reinsurance Policy, Type [Axis]: Vintage Year Apr 2021 - Sep 2021
Variable Interest Entity [Line Items]
Total VIE Assets	265,134
Radnor Re 2022-1 \| Reinsurance Policy, Type [Axis]: Vintage Year Oct 2021 - Jul 2022
Variable Interest Entity [Line Items]
Total VIE Assets	175,026
Radnor Re 2023-1 \| Reinsurance Policy, Type [Axis]: Vintage Year August 2022- June 2023
Variable Interest Entity [Line Items]
Total VIE Assets	268,320
Radnor Re 2024-1 \| Reinsurance Policy, Type [Axis]: Vintage Year July 2023- July 2024
Variable Interest Entity [Line Items]
Total VIE Assets	331,415
VIE
Variable Interest Entity [Line Items]
Maximum Exposure to Loss, On - Balance Sheet	(11,212)
Maximum Exposure to Loss, Off - Balance Sheet	231
Maximum Exposure to Loss, Total	(10,981)
Radnor Re 2021-1 \| VIE
Variable Interest Entity [Line Items]
Maximum Exposure to Loss, On - Balance Sheet	(5,560)
Maximum Exposure to Loss, Off - Balance Sheet	15
Maximum Exposure to Loss, Total	(5,545)
Radnor Re 2021-2 \| VIE
Variable Interest Entity [Line Items]
Maximum Exposure to Loss, On - Balance Sheet	(5,863)
Maximum Exposure to Loss, Off - Balance Sheet	50
Maximum Exposure to Loss, Total	(5,813)
Radnor Re 2022-1 \| VIE
Variable Interest Entity [Line Items]
Maximum Exposure to Loss, On - Balance Sheet	(167)
Maximum Exposure to Loss, Off - Balance Sheet	33
Maximum Exposure to Loss, Total	(134)
Radnor Re 2023-1 \| VIE
Variable Interest Entity [Line Items]
Maximum Exposure to Loss, On - Balance Sheet	111
Maximum Exposure to Loss, Off - Balance Sheet	51
Maximum Exposure to Loss, Total	162
Radnor Re 2024-1 \| VIE
Variable Interest Entity [Line Items]
Maximum Exposure to Loss, On - Balance Sheet	267
Maximum Exposure to Loss, Off - Balance Sheet	82
Maximum Exposure to Loss, Total	$ 349

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Vale on a Recurring Basis

All assets measured at fair value are categorized in the table below based upon the lowest level of significant input to the valuations. All fair value measurements at the reporting date were on a recurring basis.


December 31, 2024 (In thousands)	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Recurring fair value measurements
Financial Assets:
U.S. Treasury securities	$	547,290	$	—	$	—	$	547,290
U.S. agency securities	—		—		—		—
U.S. agency mortgage-backed securities	—		1,125,436		—		1,125,436
Municipal debt securities	—		583,501		—		583,501
Non-U.S. government securities	—		69,798		—		69,798
Corporate debt securities	—		1,783,046		—		1,783,046
Residential and commercial mortgage securities	—		478,086		—		478,086
Asset-backed securities	—		631,959		—		631,959
Money market funds	657,605		—		—		657,605
Total assets at fair value (1) (2)	$	1,204,895	$	4,671,826	$	—	$	5,876,721


December 31, 2023 (In thousands)	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Recurring fair value measurements
Financial Assets:
U.S. Treasury securities	$	996,382	$	—	$	—	$	996,382
U.S. agency securities	—		7,195		—		7,195
U.S. agency mortgage-backed securities	—		821,346		—		821,346
Municipal debt securities	—		547,258		—		547,258
Non-U.S. government securities	—		67,447		—		67,447
Corporate debt securities	—		1,297,055		—		1,297,055
Residential and commercial mortgage securities	—		517,940		—		517,940
Asset-backed securities	—		564,995		—		564,995
Money market funds	444,121		—		—		444,121
Total assets at fair value (1) (2)	$	1,440,503	$	3,823,236	$	—	$	5,263,739

_______________________________________________________________________________

(1)Does not include the fair value of embedded derivatives, which we have accounted for separately as freestanding derivatives and included in other assets or other accrued liabilities in our consolidated balance sheet. See Note 5 for more information.

(2)Does not include certain other invested assets that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient, as applicable accounting standards do not provide for classification within the fair value hierarchy.

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Rollforward of Accumulated Other Comprehensive Income (loss)

The following table shows the rollforward of accumulated other comprehensive income (loss) for the year ended December 31:


	2024						2023
(In thousands)	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Balance at beginning of year	$	(322,992)	$	42,496	$	(280,496)	$	(443,230)	$	60,440	$	(382,790)
Other comprehensive income (loss):
Unrealized holding gains (losses) on investments:
Unrealized holding gains (losses) arising during the year	(33,656)		8,260		(25,396)		113,034		(16,633)		96,401
Less: Reclassification adjustment for losses (gains) included in net income (1)	2,350		(442)		1,908		7,204		(1,311)		5,893
Net unrealized gains (losses) on investments	(31,306)		7,818		(23,488)		120,238		(17,944)		102,294
Other comprehensive gain (loss)	(31,306)		7,818		(23,488)		120,238		(17,944)		102,294
Balance at end of year	$	(354,298)	$	50,314	$	(303,984)	$	(322,992)	$	42,496	$	(280,496)

_______________________________________________________________________________

(1)Included in net realized investments gains on our consolidated statements of comprehensive income.

Accounts Receivable

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Accounts Receivable

Accounts receivable consists of the following at December 31:


(In thousands)	2024		2023
Premiums receivable	$	50,150	$	51,851
Other receivables	5,414		11,415
Total accounts receivable	55,564		63,266
Less: Allowance for credit losses	—		—
Accounts receivable, net	$	55,564	$	63,266

Premiums receivable consists of premiums due on our mortgage insurance policies. If mortgage insurance premiums are unpaid for more than 90 days, the receivable is written off against earned premium and the related insurance policy is cancelled. For all periods presented, no provision or allowance for credit losses was required.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Investments
Total investments available for sale	$ 5,876,721	$ 5,263,739
Other invested assets	303,900	277,226
Total investments	6,180,621	5,540,965
Cash	131,480	141,787
Accrued investment income	43,732	35,689
Accounts receivable	55,564	63,266
Deferred policy acquisition costs	9,653	9,139
Property and equipment (at cost, less accumulated depreciation of $72,270 in 2024 and $71,168 in 2023)	41,871	41,304
Prepaid federal income tax	489,600	470,646
Goodwill and acquired intangible assets, net	79,556	72,826
Other assets	79,572	51,051
Total assets	7,111,649	6,426,673
Liabilities
Reserve for losses and LAE	328,866	260,095
Unearned premium reserve	115,983	140,285
Net deferred tax liability	392,428	362,753
Senior notes due 2029, net	493,959	0
Credit facility borrowings, net	0	421,920
Other accrued liabilities	176,755	139,070
Total liabilities	1,507,991	1,324,123
Commitments and contingencies (see Note 8)
Stockholders' Equity
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 106,597 shares in 2023 and 109,377 shares in 2022	1,575	1,599
Additional paid-in capital	1,214,956	1,299,869
Accumulated other comprehensive income (loss)	(303,984)	(280,496)
Retained earnings	4,691,111	4,081,578
Total stockholders' equity	5,603,658	5,102,550
Total liabilities and stockholders' equity	7,111,649	6,426,673
Fixed maturities
Investments
Total investments available for sale	5,112,697	4,335,008
Short-term investments
Investments
Total investments available for sale	$ 764,024	$ 928,731

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock
Balance, beginning of year at Dec. 31, 2021		$ 1,641	$ 1,428,952	$ 50,707	$ 2,754,814	$ 0
Changes in Stockholders' Equity
Issuance of management incentive shares		9	(9)
Cancellation of treasury stock		(35)	(97,879)			97,914
Dividends and dividend equivalents declared			932		(93,060)
Stock-based compensation expense			18,381
Other comprehensive (loss) income	$ (433,497)			(433,497)
Net income					831,353
Treasury stock acquired						(97,914)
Balance, end of year at Dec. 31, 2022	4,462,309	1,615	1,350,377	(382,790)	3,493,107	0
Changes in Stockholders' Equity
Issuance of management incentive shares		9	(9)
Cancellation of treasury stock		(25)	(70,645)			70,670
Dividends and dividend equivalents declared			1,700		(107,915)
Stock-based compensation expense			18,446
Other comprehensive (loss) income	102,294			102,294
Net income					696,386
Treasury stock acquired						(70,670)
Balance, end of year at Dec. 31, 2023	5,102,550	1,599	1,299,869	(280,496)	4,081,578	0
Changes in Stockholders' Equity
Issuance of management incentive shares		7	(7)
Cancellation of treasury stock		(31)	(111,512)			111,543
Dividends and dividend equivalents declared			1,828		(119,870)
Stock-based compensation expense			24,778
Other comprehensive (loss) income	(23,488)			(23,488)
Net income					729,403
Treasury stock acquired						(111,543)
Balance, end of year at Dec. 31, 2024	$ 5,603,658	$ 1,575	$ 1,214,956	$ (303,984)	$ 4,691,111	$ 0

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 729,403	$ 696,386	$ 831,353

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Renewal term (up to)	15 years
Operating lease right-of-use asset	$ 30,000	$ 32,200
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Operating lease liabilities	$ 36,173	$ 38,000
Lease cost	5,912	5,124	$ 3,770
Minimum sublease rental income, due in 2025	200
Loss contingency accrual	3,200
Indemnifications related to contract underwriting services
Loss Contingencies [Line Items]
Amount paid for remedies (less than)	$ 100	$ 100

Dividends Restrictions	12 Months Ended
Dividends Restrictions	Dec. 31, 2024
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments [Abstract]
Dividends Restrictions	Dividends Restrictions Our U.S. insurance subsidiaries are subject to certain capital and dividend rules and regulations as prescribed by jurisdictions in which they are authorized to operate. Under the insurance laws of the Commonwealth of Pennsylvania, an insurance company may pay dividends during any 12-month period in an amount equal to the greater of (i) 10% of the preceding year-end statutory policyholders' surplus or (ii) the preceding year's statutory net income. The Pennsylvania statute also specifies that dividends and other distributions can be paid out of positive unassigned surplus without prior approval. At December 31, 2024, Essent Guaranty had unassigned surplus of approximately $396.6 million. As of January 1, 2025, Essent Guaranty has dividend capacity of $396.6 million. During the year ended December 31, 2024, 2023 and 2022, Essent Guaranty paid to its parent, Essent Holdings, dividends totaling $165.5 million, $295.0 million and $315.0 million, respectively. During the year ended December 31, 2023, Essent PA paid to its parent, Essent Holdings, dividends totaling $5 million, Essent PA did not pay a dividend in 2024 or 2022. Essent Re is subject to certain dividend restrictions as prescribed by the Bermuda Monetary Authority and under certain agreements with counterparties. Class 3B insurers must obtain the BMA's prior approval for a reduction by 15% or more of total statutory capital or for a reduction by 25% or more of total statutory capital and surplus as set forth in its previous year's statutory financial statements. In connection with the quota share reinsurance agreement with Essent Guaranty, Essent Re has agreed to maintain a minimum total equity of $100 million. As of December 31, 2024, Essent Re had total equity of $1.8 billion. During the year ended December 31, 2024 and 2023, Essent Re paid to its parent, Essent Group, dividends totaling $300 million and $60 million, respectively. As of January 1, 2025, Essent Re has dividend capacity of $441.9 million. During the year ended December 31, 2024 and 2023 Essent Holdings contributed $24.5 million and $38.1 million, respectively, of capital to its Title insurance subsidiary. At December 31, 2024, our insurance subsidiaries were in compliance with these rules, regulations and agreements.

Investments - Schedule of Available for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 6,231,018	$ 5,586,730
Unrealized Gains	4,155	13,446
Unrealized Losses	(358,452)	(336,437)
Fair Value	5,876,721	5,263,739
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	561,853	1,014,076
Unrealized Gains	325	1,434
Unrealized Losses	(14,888)	(19,128)
Fair Value	547,290	996,382
U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		7,199
Unrealized Gains		0
Unrealized Losses		(4)
Fair Value		7,195
U.S. agency mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,249,259	922,907
Unrealized Gains	42	438
Unrealized Losses	(123,865)	(101,999)
Fair Value	1,125,436	821,346
Municipal debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	631,015	585,047
Unrealized Gains	1,596	6,660
Unrealized Losses	(49,110)	(44,449)
Fair Value	583,501	547,258
Non-U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	81,631	77,516
Unrealized Gains	0	0
Unrealized Losses	(11,833)	(10,069)
Fair Value	69,798	67,447
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,887,647	1,380,533
Unrealized Gains	1,064	4,425
Unrealized Losses	(105,665)	(87,903)
Fair Value	1,783,046	1,297,055
Residential and commercial mortgage securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	519,613	571,163
Unrealized Gains	527	286
Unrealized Losses	(42,054)	(53,509)
Fair Value	478,086	517,940
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	642,395	584,168
Unrealized Gains	601	203
Unrealized Losses	(11,037)	(19,376)
Fair Value	631,959	564,995
Money market funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	657,605	444,121
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	$ 657,605	$ 444,121

Acquisitions - Narrative (Details) - Boston National Title - USD ($) $ in Thousands			12 Months Ended			18 Months Ended
	Dec. 31, 2024	Jul. 01, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Asset Acquisition [Line Items]
Payments in cash	$ 91,310	$ 92,625
Purchase price adjustment		$ 1,300				$ 1,315
Contributed revenues			$ 80,100
Net losses			21,500
Acquisition related costs				$ 4,500	$ 3,000
Net Premium Earned
Asset Acquisition [Line Items]
Contributed revenues			66,200
Settlement Services Revenues
Asset Acquisition [Line Items]
Contributed revenues			$ 9,000

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Deferred tax assets, investments	$ 5,300,000
Net purchases of T&L Bonds	18,954,000	$ 52,186,000	$ 57,650,000
Prepaid federal income tax	489,600,000	470,646,000
Unrecognized tax benefits	0	0
U.S.
Operating Loss Carryforwards [Line Items]
Taxes provided on un-remitted earnings	0
Cumulative amount of earnings that would be subject to withholding tax, if distributed outside of the U.S.	4,500,000,000
Essent Holdings \| Essent Irish Intermediate
Operating Loss Carryforwards [Line Items]
Withholding taxes accrued with respect to un-remitted earnings	0
Bermuda \| Bermuda
Operating Loss Carryforwards [Line Items]
Income before income taxes	277,000,000.0	268,800,000	282,500,000
U.S. \| US
Operating Loss Carryforwards [Line Items]
Income before income taxes	578,500,000	$ 554,200,000	$ 705,600,000
United States Ireland Tax Treaty Benefits Availed \| U.S.
Operating Loss Carryforwards [Line Items]
Associated withholding tax liability on cumulative amount of earnings that would be subject to withholding tax, if distributed outside of the U.S.	$ 226,800,000
United States Ireland Tax Treaty Benefits Availed \| Essent Holdings \| Essent Irish Intermediate
Operating Loss Carryforwards [Line Items]
Withholding tax rate on dividends paid	5.00%
Absent Benefits Of United States Ireland Tax Treaty \| Essent Holdings \| Essent Irish Intermediate
Operating Loss Carryforwards [Line Items]
Withholding tax rate on dividends paid	30.00%

Schedule IV - Reinsurance

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]

Schedule IV - Reinsurance

Schedule IV—Reinsurance

Insurance Premiums Earned

Years Ended December 31, 2024, 2023 and 2022


($ in thousands)	Gross Amount	Ceded to Other Companies	Assumed from Other Companies	Net Amount	Assumed Premiums as a Percentage of Net Premiums
2024	1,122,905	(132,023)	—	990,882	0.0	%
2023	1,051,405	(134,499)	—	916,906	0.0	%
2022	950,200	(107,673)	—	842,527	0.0	%

Stock-Based Compensation - Schedule of Nonvested Performance-based Share Awards (Details) - Nonvested Shares	36 Months Ended
	Dec. 31, 2026	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
13%
Stock-based compensation
Three-Year Book Value Per Share CAGR			13.00%
13% \| ≤25th percentile
Stock-based compensation
Vesting percentile			100.00%
13% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile			150.00%
13% \| ≥75th percentile
Stock-based compensation
Vesting percentile			200.00%
14%
Stock-based compensation
Three-Year Book Value Per Share CAGR				14.00%
14% \| ≤25th percentile
Stock-based compensation
Vesting percentile				100.00%
14% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile				150.00%
14% \| ≥75th percentile
Stock-based compensation
Vesting percentile				200.00%
12%
Stock-based compensation
Three-Year Book Value Per Share CAGR				12.00%
12% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR	12.00%
12% \| ≤25th percentile
Stock-based compensation
Vesting percentile				75.00%
12% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile	100.00%
12% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile				125.00%
12% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile	150.00%
12% \| ≥75th percentile
Stock-based compensation
Vesting percentile				175.00%
12% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile	200.00%
10%
Stock-based compensation
Three-Year Book Value Per Share CAGR				10.00%
10% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR	10.00%
10% \| ≤25th percentile
Stock-based compensation
Vesting percentile				50.00%
10% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile	50.00%	100.00%
10% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile				100.00%
10% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile	100.00%	150.00%
10% \| ≥75th percentile
Stock-based compensation
Vesting percentile				150.00%
10% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile	150.00%	200.00%
8%
Stock-based compensation
Three-Year Book Value Per Share CAGR				8.00%
8% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR	8.00%	8.00%
8% \| ≤25th percentile
Stock-based compensation
Vesting percentile				25.00%
8% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile	25.00%	50.00%
8% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile				75.00%
8% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile	75.00%	100.00%
8% \| ≥75th percentile
Stock-based compensation
Vesting percentile				125.00%
8% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile	125.00%	150.00%
6%
Stock-based compensation
Three-Year Book Value Per Share CAGR				6.00%
6% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR		6.00%
6% \| ≤25th percentile
Stock-based compensation
Vesting percentile				0.00%
6% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile		25.00%
6% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile				50.00%
6% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile		75.00%
6% \| ≥75th percentile
Stock-based compensation
Vesting percentile				100.00%
6% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile		125.00%
11%
Stock-based compensation
Three-Year Book Value Per Share CAGR			11.00%
11% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR	11.00%
11% \| ≤25th percentile
Stock-based compensation
Vesting percentile			75.00%
11% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile	75.00%
11% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile			125.00%
11% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile	125.00%
11% \| ≥75th percentile
Stock-based compensation
Vesting percentile			175.00%
11% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile	175.00%
9%
Stock-based compensation
Three-Year Book Value Per Share CAGR			9.00%
9% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR		9.00%
9% \| ≤25th percentile
Stock-based compensation
Vesting percentile			50.00%
9% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile		75.00%
9% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile			100.00%
9% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile		125.00%
9% \| ≥75th percentile
Stock-based compensation
Vesting percentile			150.00%
9% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile		175.00%
7%
Stock-based compensation
Three-Year Book Value Per Share CAGR			7.00%
7% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR	7.00%
7% \| ≤25th percentile
Stock-based compensation
Vesting percentile			25.00%
7% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile	0.00%
7% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile			75.00%
7% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile	50.00%
7% \| ≥75th percentile
Stock-based compensation
Vesting percentile			125.00%
7% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile	100.00%
5%
Stock-based compensation
Three-Year Book Value Per Share CAGR			5.00%
5% \| Forecast
Stock-based compensation
Three-Year Book Value Per Share CAGR		5.00%
5% \| ≤25th percentile
Stock-based compensation
Vesting percentile			0.00%
5% \| ≤25th percentile \| Forecast
Stock-based compensation
Vesting percentile		0.00%
5% \| 50th percentile "Target"
Stock-based compensation
Vesting percentile			50.00%
5% \| 50th percentile "Target" \| Forecast
Stock-based compensation
Vesting percentile		50.00%
5% \| ≥75th percentile
Stock-based compensation
Vesting percentile			100.00%
5% \| ≥75th percentile \| Forecast
Stock-based compensation
Vesting percentile		100.00%
2020 Performance-Based Grants \| 13%
Stock-based compensation
Compounded Annual Book Value Per Share Growth					13.00%
Nonvested Common Shares Earned					10.00%
2020 Performance-Based Grants \| 14%
Stock-based compensation
Compounded Annual Book Value Per Share Growth					14.00%
Nonvested Common Shares Earned					35.00%
2020 Performance-Based Grants \| 15%
Stock-based compensation
Compounded Annual Book Value Per Share Growth					15.00%
Nonvested Common Shares Earned					60.00%
2020 Performance-Based Grants \| 16%
Stock-based compensation
Compounded Annual Book Value Per Share Growth					16.00%
Nonvested Common Shares Earned					85.00%
2020 Performance-Based Grants \| Maximum \| 13%
Stock-based compensation
Compounded Annual Book Value Per Share Growth					13.00%
Nonvested Common Shares Earned					0.00%
2020 Performance-Based Grants \| Minimum \| 17%
Stock-based compensation
Compounded Annual Book Value Per Share Growth					17.00%
Nonvested Common Shares Earned					100.00%
2019 Performance-Based Grants \| 14%
Stock-based compensation
Compounded Annual Book Value Per Share Growth						14.00%
Nonvested Common Shares Earned						10.00%
2019 Performance-Based Grants \| 15%
Stock-based compensation
Compounded Annual Book Value Per Share Growth						15.00%
Nonvested Common Shares Earned						35.00%
2019 Performance-Based Grants \| 16%
Stock-based compensation
Compounded Annual Book Value Per Share Growth						16.00%
Nonvested Common Shares Earned						60.00%
2019 Performance-Based Grants \| 17%
Stock-based compensation
Compounded Annual Book Value Per Share Growth						17.00%
Nonvested Common Shares Earned						85.00%
2019 Performance-Based Grants \| Maximum \| 14%
Stock-based compensation
Compounded Annual Book Value Per Share Growth						14.00%
Nonvested Common Shares Earned						0.00%
2019 Performance-Based Grants \| Minimum \| 18%
Stock-based compensation
Compounded Annual Book Value Per Share Growth						18.00%
Nonvested Common Shares Earned						100.00%

Segment Reporting - Schedule of Segment Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Net premiums earned	$ 990,882	$ 916,906	$ 842,527
Net investment income	222,070	186,139	124,409
Realized investment gains (losses), net	(2,350)	(7,204)	(13,172)
Income (loss) from other invested assets	7,375	(11,118)	28,676
Other income	24,927	25,036	18,384
Total revenues	1,242,904	1,109,759	1,000,824
Losses and expenses:
Provision (benefit) for losses and LAE	81,220	31,542	(174,704)
Compensation and benefits	136,392	114,898	100,302
Premium and other taxes	24,504	22,168	20,977
Ceding commission	(24,248)	(21,326)	(17,516)
Other underwriting and operating expenses	134,226	109,341	67,970
Other underwriting and operating expenses	270,874	225,081	171,733
Interest expense	35,319	30,137	15,608
Income before income taxes	855,491	822,999	988,187
Mortgage Insurance
Losses and expenses:
Other underwriting and operating expenses	159,531	162,456	159,605
Interest expense	0	0	0
Income before income taxes	892,284	860,039	1,019,608
Mortgage Insurance \| Operating Segments
Revenues:
Net premiums earned	924,676	878,937	842,527
Net investment income	183,341	159,868	112,285
Realized investment gains (losses), net	(2,343)	(6,392)	(1,829)
Income (loss) from other invested assets	7,171	(490)	33,142
Other income	14,152	20,692	18,384
Total revenues	1,126,997	1,052,615	1,004,509
Losses and expenses:
Provision (benefit) for losses and LAE	75,182	30,120	(174,704)
Compensation and benefits	72,156	68,996	66,410
Premium and other taxes	23,007	22,544	20,977
Ceding commission	(24,248)	(21,326)	(17,516)
Other underwriting and operating expenses	44,829	44,968	41,634
Other underwriting and operating expenses	$ 115,744	$ 115,182	$ 111,505
Loss Ratio	8.10%	3.40%	(20.70%)
Expense Ratio	17.30%	18.50%	18.90%
Combined Ratio	25.40%	21.90%	(1.80%)
Mortgage Insurance \| Intersegment Eliminations
Losses and expenses:
Other underwriting and operating expenses	$ 43,787	$ 47,274	$ 48,100
Corporate Segment
Losses and expenses:
Other underwriting and operating expenses	111,343	62,625	12,128
Interest expense	35,319	30,137	15,608
Income before income taxes	(36,793)	(37,040)	(31,421)
Corporate Segment \| Operating Segments
Revenues:
Net premiums earned	66,206	37,969	0
Net investment income	38,729	26,271	12,124
Realized investment gains (losses), net	(7)	(812)	(11,343)
Income (loss) from other invested assets	204	(10,628)	(4,466)
Other income	10,775	4,344	0
Total revenues	115,907	57,144	(3,685)
Losses and expenses:
Provision (benefit) for losses and LAE	6,038	1,422	0
Compensation and benefits	64,236	45,902	33,892
Premium and other taxes	1,497	(376)	0
Ceding commission	0	0	0
Other underwriting and operating expenses	89,397	64,373	26,336
Other underwriting and operating expenses	155,130	109,899	60,228
Corporate Segment \| Intersegment Eliminations
Losses and expenses:
Other underwriting and operating expenses	$ (43,787)	$ (47,274)	$ (48,100)

Commitments and Contingencies- Schedule of Lease Liability Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2025	$ 5,853
2026	4,698
2027	4,621
2028	4,407
2029	4,320
2030 and thereafter	21,306
Total lease payments to be paid	45,205
Less: Future interest expense	(9,032)
Present value of lease liabilities	$ 36,173	$ 38,000

Statutory Accounting (Tables)

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Schedule of Statutory Net Income, Statutory Surplus and Contingency Reserve Liability

The following table presents Essent Guaranty’s and Essent PA’s statutory net income, statutory surplus and contingency reserve liability as of and for the years ended December 31:


(In thousands)	2024		2023		2022
Essent Guaranty
Statutory net income	$	495,516	$	431,266	$	590,505
Statutory surplus	1,101,894		1,004,104		1,020,034
Contingency reserve liability	2,492,487		2,265,713		2,048,740

Essent PA
Statutory net income	N/A		$	(3,055)	$	859
Statutory surplus	N/A		54,044		52,609
Contingency reserve liability	N/A		52,244		56,744

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

Reserve for Losses and Loss Adjustment Expenses - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended			21 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024 USD ($) loan	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred claims and claim adjustment expenses			$ 21,743	$ 10,752	$ 4,731
Favorable prior year development			95,817	109,649	274,076
Reserve for losses and LAE, for prior years			118,400	81,400
Net reserves acquired during the period			$ 0	14,049	0
Reduction of reserves on hurricane-related defaults					$ 164,100
Number of loans increased in default \| loan			3,620
Hurricane
Liability for Claims and Claims Adjustment Expense [Line Items]
Number of loans increased in default \| loan			2,119
Reinsurance Risk In Force Affected \| Reinsurer Concentration Risk \| Wildfire
Liability for Claims and Claims Adjustment Expense [Line Items]
Concentration risk, percentage			0.10%
Agents National Title
Liability for Claims and Claims Adjustment Expense [Line Items]
Reinsurance recoverables				$ 100
COVID-19
Liability for Claims and Claims Adjustment Expense [Line Items]
Reserve rate	2.00%	4.00%				7.00%

Investments - Schedule of Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of net investment income
Gross investment income	$ 227,201	$ 192,480	$ 131,849
Investment expenses	(5,131)	(6,341)	(7,440)
Net investment income	222,070	186,139	124,409
Fixed maturities
Components of net investment income
Gross investment income	186,345	178,829	129,530
Short-term investments
Components of net investment income
Gross investment income	$ 40,856	$ 13,651	$ 2,319

Summary of Significant Accounting Policies - Insurance Premium Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Concentration Risk [Line Items]
Earned premiums from mortgage guaranty insurance monthly policies as a percentage of total earned premiums	93.00%
Threshold coverage period for single premium primary mortgage insurance policies (more than)	1 year
Unearned single premium recognized as earned upon notice of policy cancellation due to repayment of insured loan by borrower	$ 5.4	$ 6.3
One Lender \| Total revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	17.00%

Investments - Schedule of Realized Gain and Loss and Investments in Unrealized Loss Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Realized gross gains	$ 495	$ 1,219	$ 14,420
Realized gross losses	2,322	8,246	14,864
Impairment loss	523	177	$ 12,728
Fair Value
Less than 12 months	1,954,295	550,525
12 months or more	2,567,865	3,200,767
Total	4,522,160	3,751,292
Gross Unrealized Losses
Less than 12 months	(50,014)	(5,759)
12 months or more	(308,438)	(330,678)
Total	(358,452)	(336,437)
U.S. Treasury securities
Fair Value
Less than 12 months	141,789	139,398
12 months or more	279,143	355,921
Total	420,932	495,319
Gross Unrealized Losses
Less than 12 months	(1,620)	(1,075)
12 months or more	(13,268)	(18,053)
Total	(14,888)	(19,128)
U.S. agency securities
Fair Value
Less than 12 months		5,572
12 months or more		1,623
Total		7,195
Gross Unrealized Losses
Less than 12 months		(2)
12 months or more		(2)
Total		(4)
U.S. agency mortgage-backed securities
Fair Value
Less than 12 months	476,695	129,359
12 months or more	629,036	654,018
Total	1,105,731	783,377
Gross Unrealized Losses
Less than 12 months	(13,028)	(1,616)
12 months or more	(110,837)	(100,383)
Total	(123,865)	(101,999)
Municipal debt securities
Fair Value
Less than 12 months	204,810	59,301
12 months or more	282,312	297,039
Total	487,122	356,340
Gross Unrealized Losses
Less than 12 months	(5,688)	(987)
12 months or more	(43,422)	(43,462)
Total	(49,110)	(44,449)
Non-U.S. government securities
Fair Value
Less than 12 months	4,146	0
12 months or more	65,652	67,447
Total	69,798	67,447
Gross Unrealized Losses
Less than 12 months	(262)	0
12 months or more	(11,571)	(10,069)
Total	(11,833)	(10,069)
Corporate debt securities
Fair Value
Less than 12 months	898,449	119,764
12 months or more	725,148	905,606
Total	1,623,597	1,025,370
Gross Unrealized Losses
Less than 12 months	(25,547)	(733)
12 months or more	(80,118)	(87,170)
Total	(105,665)	(87,903)
Residential and commercial mortgage securities
Fair Value
Less than 12 months	39,931	31,936
12 months or more	421,891	459,789
Total	461,822	491,725
Gross Unrealized Losses
Less than 12 months	(1,168)	(999)
12 months or more	(40,886)	(52,510)
Total	(42,054)	(53,509)
Asset-backed securities
Fair Value
Less than 12 months	188,475	65,195
12 months or more	164,683	459,324
Total	353,158	524,519
Gross Unrealized Losses
Less than 12 months	(2,701)	(347)
12 months or more	(8,336)	(19,029)
Total	$ (11,037)	$ (19,376)

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Investments

Our fixed maturity and short-term investments are classified as available for sale as we may sell securities from time to time to provide liquidity and in response to changes in the market. Debt securities classified as available for sale are reported at fair value with unrealized gains and losses on these securities reported in other comprehensive income, net of deferred income taxes. See Note 15 for a description of the valuation methods for investments available for sale.

We monitor our fixed maturities for unrealized losses that appear to be the result of credit losses. A fixed maturity security is considered to be impaired when the security's fair value is less than its amortized cost basis and 1) we intend to sell the security, 2) it is more likely than not that we will be required to sell the security before recovery of the security's amortized cost basis, or 3) we believe we will be unable to recover the entire amortized cost basis of the security (i.e., a credit loss has occurred). When we determine that a credit loss has been incurred, but we do not intend to sell the security and it is not more likely than not that we will be required to sell the security before recovery of the security's amortized cost basis, the unrealized loss is separated into the portion of the impairment that is credit related and the portion of the impairment that is due to other factors. For those fixed maturities for which a credit loss has occurred, the impairment amount is calculated as the difference between the amortized cost and the present value of future expected cash flows, limited by the amount that the fair value is less than the amortized cost basis. Estimates of expected future cash flows consider among other things, macroeconomic conditions as well as the financial condition, near-term and long-term prospects for the issuer, and the likelihood of the recoverability of principal and interest. Credit losses are recognized through an allowance account subject to reversal. Declines in value attributable to factors other than credit are reported as an unrealized loss in other comprehensive income while the allowance for credit loss is record a realized loss in the consolidated statements of comprehensive income.

We recognize purchase premiums and discounts in interest income using the interest method over the securities' estimated holding periods, until maturity, or call date, if applicable. Gains and losses on the sales of securities are recorded on the trade date and are determined using the specific identification method.

Short-term investments are defined as short-term, highly liquid investments, both readily convertible to cash and having maturities at acquisition of twelve months or less.

Other invested assets are principally comprised of limited partnership interests which are generally accounted for under the equity method of accounting or fair value using net asset value (or its equivalent) as a practical expedient, with changes in value reported in income from other invested assets. In applying the equity method or fair value using net asset value (or its equivalent) as a practical expedient, these investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of the net income or loss of the partnership or changes in fair value. We have elected to classify distributions received from these investments using the cumulative earnings approach for purposes of classification in the statements of cash flows. Due to the timing of receiving financial information from these partnerships, the results are generally reported on a one month or quarter lag.

Long-Lived Assets

Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Repairs and maintenance are charged to expense as incurred. Estimated useful lives are 5 years for furniture and fixtures and 2 to 3 years for equipment, computer hardware and purchased software. Certain costs associated with the acquisition or development of internal-use software are capitalized. Once the software is ready for its intended use, these costs are amortized on a straight-line basis over the software's expected useful life, which is generally 3 years. We amortize leasehold improvements over the shorter of the lives of the leases or estimated service lives of the leasehold improvements. The balances by type were as follows at December 31:


	2024				2023
(In thousands)	Cost		Accumulated Depreciation/ Amortization		Cost		Accumulated Depreciation/ Amortization
Furniture and fixtures	$	5,715	$	(3,054)	$	4,244	$	(2,463)
Office equipment	2,094		(1,327)		1,672		(982)
Computer hardware	12,202		(11,873)		12,556		(11,273)
Purchased software	38,028		(37,111)		40,266		(39,271)
Costs of internal-use software	13,785		(13,418)		13,785		(12,593)
Leasehold improvements	12,305		(5,487)		7,708		(4,586)
Total	$	84,129	$	(72,270)	$	80,231	$	(71,168)

Deferred Policy Acquisition Costs

We defer certain personnel costs and premium tax expense directly related to the successful acquisition of new insurance policies and amortize these costs over the period the related estimated gross profits are recognized in order to match costs and revenues. We do not defer any underwriting costs associated with our contract underwriting services. Costs related to the acquisition of mortgage insurance business are initially deferred and reported as deferred policy acquisition costs. Consistent with industry accounting practice, amortization of these costs for each underwriting year book of business is recognized in proportion to estimated gross profits. Estimated gross profits are composed of earned premium, interest income, losses and loss adjustment expenses. The deferred costs are adjusted as appropriate for policy cancellations to be consistent with our revenue recognition policy. We estimate the rate of amortization to reflect actual experience and any changes to persistency or loss development. Deferred policy acquisition costs are reviewed periodically to determine that they do not exceed recoverable amounts, after considering investment income. Policy acquisition costs deferred were $2.0 million, $2.6 million and $3.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization of deferred policy acquisition costs totaled $3.7 million, $4.4 million and $5.8 million for the years ended December 31, 2024, 2023 and 2022, respectively, and was included in other underwriting and operating expenses on the consolidated statements of comprehensive income.

Goodwill and Acquired Intangible Assets, Net

Goodwill is an asset representing the estimated future economic benefits arising from the assets we have acquired that were not individually identified and separately recognized. Goodwill is deemed to have an indefinite useful life and is subject to review for impairment annually, or more frequently whenever circumstances indicate potential impairment at the reporting unit level. A reporting unit represents a business for which discrete financial information is available. We generally perform our annual goodwill impairment test during the fourth quarter of each year to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. An impairment charge is recognized for any excess of the reporting unit’s carrying amount over the reporting unit’s estimated fair value, up to the full amount of the goodwill allocated to the reporting unit.

The following table shows the rollforward of goodwill for the years ended December 31, 2024 and 2023:


	Year Ended December 31,
(In thousands)	2024		2023
Beginning Balance	$	50,008	$	—
Goodwill resulting from acquisitions	—		38,331
Measurement period adjustments	(1,247)		11,677
Impairment charges	—		—
Ending Balance	$	48,761	$	50,008

Our acquired intangible assets, other than goodwill, primarily consist of customer relationships and represent the value of the specifically acquired customer relationships. For financial reporting purposes, intangible assets with finite lives are amortized over their applicable estimated useful lives in a manner that approximates the pattern of expected economic benefit from each intangible asset. Other acquired intangible assets also include title plants and records, which are carried at original cost. Such values represent the cost of producing or acquiring interests in title records and indexes and the appraised value of purchased subsidiaries' title records and indexes at dates of acquisition. The cost of maintaining, updating, and operating title

records is charged to income as incurred. Title records and indexes are not amortized unless events or circumstances indicate that the carrying amount of the capitalized costs may not be recoverable. Title plants and records were $10 million as of December 31, 2024. We did not own any title plant or records as of December 31, 2023.

The gross carrying amount and accumulated amortization of our customer relationship intangible assets as of December 31, 2024 and 2023 were $22.9 million and $2.1 million and $23.5 million and $0.7 million, respectively.

Insurance Premium Revenue Recognition

Mortgage guaranty insurance policies are contracts that are generally non-cancelable by the insurer, are renewable at a fixed price, and provide for payment of premium on a monthly, annual or single basis. Upon renewal, we are not able to re-underwrite or re-price our policies. Consistent with industry accounting practices, premiums written on a monthly basis are earned as coverage is provided. Monthly policies accounted for approximately 93% of earned premium in 2024. Premiums written on an annual basis are amortized on a pro rata basis over the year of coverage. Primary mortgage insurance written on policies covering more than one year are referred to as single premium policies. A portion of the revenue from single premium policies is recognized in earned premium in the current period, and the remaining portion is deferred as unearned premium and earned over the expected life of the policy. If single premium policies related to insured loans are cancelled due to repayment by the borrower, and the premium is non-refundable, then the remaining unearned premium related to each cancelled policy is recognized as earned premium upon notification of the cancellation. The Company recorded $5.4 million and $6.3 million of earned premium related to policy cancellations for the years ended December 31, 2024 and 2023, respectively. Unearned premium represents the portion of premium written that is applicable to the estimated unexpired risk of insured loans. Rates used to determine the earning of single premium policies are estimates based on an analysis of the expiration of risk.

Revenues from title policies issued by agents are recorded when notice of issuance is received from the agent, which is generally when cash payment is received by the Company.

A significant portion of our premium revenue relates to master policies with certain lending institutions. For the year ended December 31, 2024 one lender represented approximately 17% of our total revenue. The loss of this customer could have a significant impact on our revenues and results of operations.

Reserve for Losses and Loss Adjustment Expenses

We establish mortgage insurance reserves for losses based on our best estimate of ultimate claim costs for defaulted loans using the general principles contained in ASC No. 944, in accordance with industry practice. However, consistent with industry standards for mortgage insurers, we do not establish loss reserves for future claims on insured loans which are not currently in default. Loans are classified as in default when the borrower has missed two consecutive payments. Once we are notified that a borrower has defaulted, we will consider internal and third-party information and models, including the status of the loan as reported by its servicer and the type of loan product to determine the likelihood that a default will reach claim status. In addition, we will project the amount that we will pay if a default becomes a claim (referred to as "claim severity"). Based on this information, at each reporting date we determine our best estimate of loss reserves at a given point in time. Included in loss reserves are reserves for incurred but not reported ("IBNR") claims. IBNR reserves represent our estimated unpaid losses on loans that are in default, but have not yet been reported to us as delinquent by our customers. We will also establish reserves for associated loss adjustment expenses, consisting of the estimated cost of the claims administration process, including legal and other fees and expenses associated with administering the claims process. Establishing reserves is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. Our estimates of claim rates and claim sizes will be strongly influenced by prevailing economic conditions, such as the overall state of the economy, current rates or trends in unemployment, changes in housing values and/or interest rates, and our best judgments as to the future values or trends of these macroeconomic factors. Losses incurred are also generally affected by the characteristics of our insured loans, such as the loan amount, loan-to-value ratio, the percentage of coverage on the insured loan and the credit quality of the borrower.

Our reserve for title insurance claim losses includes reserves for known claims as well as for losses that have been incurred but not yet reported to us (“IBNR”), net of recoupments. We reserve for each known claim based on our review of the estimated amount of the claim and the costs required to settle the claim. Reserves for IBNR claims are estimates that are established at the time the premium revenue is recognized and are based upon historical experience and other factors, including industry trends, claim loss history, legal environment, geographic considerations, and the types of policies written. We also reserve for losses arising from closing and disbursement functions due to fraud or operational error.

Premium Deficiency Reserve

We are required to establish a premium deficiency reserve if the net present value of the expected future losses and expenses for a particular group of policies exceeds the net present value of expected future premium, anticipated investment income and existing reserves for that specified group of policies. We reassess our expectations for premium, losses and expenses of our mortgage insurance business periodically and update our premium deficiency analysis accordingly. As of December 31, 2024 and 2023, we concluded that no premium deficiency reserve was required to be recorded in the accompanying consolidated financial statements.

Derivative Instruments

Derivative instruments, including embedded derivative instruments, are recognized at fair value in the consolidated balance sheets. The amount of monthly reinsurance premiums ceded under our reinsurance contracts will fluctuate due to changes in one-month SOFR and changes in money market rates. As the reinsurance premium will vary based on changes in these rates, we concluded that these reinsurance agreements contain embedded derivatives that are accounted for separately like freestanding derivatives.

Stock-Based Compensation

We measure the cost of employee services received in exchange for awards of equity instruments at the grant date of the award using a fair value based method. Quoted market prices are used for the valuation of common shares granted that do not contain a market condition under ASC 718. The performance-based share awards granted beginning in 2021 contain a market condition and were valued based on analysis provided by a third-party valuation firm using a risk neutral simulation and considering the vesting conditions of the grant. We recognize compensation expense on nonvested shares over the vesting period of the award. Excess tax benefits and tax deficiencies associated with share-based payments are recognized as income tax expense or benefit in the income statement and treated as discrete items in the reporting period.

Income Taxes

Deferred income tax assets and liabilities are determined using the asset and liability (balance sheet) method. Under this method, we determine the net deferred tax asset or liability based on the tax effects of the temporary differences between the book and tax bases of the various assets and liabilities and give current recognition to changes in tax rates and laws. Changes in tax laws, rates, regulations and policies, or the final determination of tax audits or examinations, could materially affect our tax estimates. We evaluate the realizability of the deferred tax asset and recognize a valuation allowance if, based on the weight of all available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. When evaluating the realizability of the deferred tax asset, we consider estimates of expected future taxable income, existing and projected book/tax differences, carryback and carryforward periods, tax planning strategies available, and the general and industry specific economic outlook. This realizability analysis is inherently subjective, as it requires management to forecast changes in the mortgage market, as well as the related impact on mortgage insurance, and the competitive and general economic environment in future periods. Changes in the estimate of deferred tax asset realizability, if applicable, are included in income tax expense on the consolidated statements of comprehensive income.

ASC No. 740 provides a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In accordance with ASC No. 740, before a tax benefit can be recognized, a tax position is evaluated using a threshold that it is more likely than not that the tax position will be sustained upon examination. When evaluating the more-likely-than-not recognition threshold, ASC No. 740 provides that a company should presume the tax position will be examined by the appropriate taxing authority that has full knowledge of all relevant information. If the tax position meets the more-likely-than-not recognition threshold, it is initially and subsequently measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.

As described in Note 12, we purchase non-interest-bearing United States Mortgage Guaranty Tax and Loss Bonds ("T&L Bonds") issued by the Treasury Department. These assets are carried at cost and are reported as prepaid federal income tax on the consolidated balance sheets.

It is our policy to classify interest and penalties as income tax expense and to use the aggregate portfolio approach to release income tax effects from accumulated other comprehensive income.

Earnings per Share

Basic earnings per common share amounts are calculated based on income available to common stockholders and the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share amounts are calculated based on income available to common stockholders and the weighted average number of common and potential common shares outstanding during the reporting period. Potential common shares, composed of the incremental common shares issuable upon vesting of unvested common shares and common share units, are included in the earnings per share calculation to the extent that they are dilutive.

Recently Issued Accounting Standards

Accounting Standards Adopted During the Period

In June 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. This update clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and requires specific disclosures related to such an equity security. The update clarifies that a contractual sale restriction prohibiting the sale of an equity security is a characteristic of the reporting entity holding the equity security and is not included in the equity security's unit of account. Accordingly, an entity should not consider the contractual sale restriction when measuring the equity security’s fair value. The update also requires specific disclosures related to equity securities that are subject to contractual sale restrictions, including (1) the fair value of such equity securities reflected in the balance sheet, (2) the nature and remaining duration of the corresponding restrictions, and (3) any circumstances that could cause a lapse in the restrictions. The ASU was effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The adoption of this ASU did not have a material effect on the Company's consolidated operating results or financial position.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. The ASU requires that public entities disclose significant expense categories and amounts for each reportable segment, which are derived from expenses that are 1) regularly reported to an entity’s chief operating decision-maker ("CODM") and 2) included in a segment’s reported measures of profit or loss. Public entities must also disclose an amount for “other segment items,” representing the difference between 1) segment revenue less significant segment expenses and 2) the reportable segment’s profit or loss measures. A description of the composition of “other segment items” also is required as well as the title and position of the CODM and entities must explain how the CODM uses the reported measures of profit or loss to assess segment performance. The ASU also requires interim disclosure of certain segment-related disclosures that previously were required only on an annual basis and clarifies that entities with a single reportable segment will be subject to both new and existing segment reporting requirements under Topic 280. It also clarifies that an entity is permitted to disclose multiple measures of segment profit or loss, provided that certain criteria are met. The ASU was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Entities must adopt the changes to the segment reporting guidance on a retrospective basis. Upon the adoption of the accounting standard, the Company has disclosed required segment information with Footnote 18: Segment Reporting.

Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid, including taxes paid by jurisdiction. The ASU will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively, with early adoption permitted. The Company is currently evaluating the impact that the ASU will have on our consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”) and in January 2025, the FASB issued ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. ASU 2024-03 will require the Company to disclose the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization, as applicable, included in certain expense captions in the Consolidated Statements of Operations, as well as qualitatively describe remaining amounts included in those captions. ASU 2024-03 will also require the Company to disclose both the amount and the Company’s definition of selling expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods

beginning after December 15, 2027. The Company is currently evaluating the impact that the ASU will have on our consolidated financial statements.

Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable
Premiums receivable	$ 50,150	$ 51,851
Other receivables	5,414	11,415
Total accounts receivable	55,564	63,266
Less: Allowance for credit losses	0	0
Accounts receivable, net	$ 55,564	$ 63,266
Premiums Receivable
Accounts Receivable
Threshold period unpaid for write-off of mortgage insurance premiums (more than)	90 days

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

For the year ended December 31, 2024, the statutory income tax rates of the countries where the Company does business are 21% in the United States and 0.0% in Bermuda. The statutory income tax rate of each country is applied against the taxable income from each country to calculate the income tax expense.

Income tax expense which is generated in the U.S. consists of the following components for the years ended December 31:


(In thousands)	2024		2023		2022
Current	$	93,914	$	139,859	$	98,666
Deferred	32,174		(13,246)		58,168

Total income tax expense	$	126,088	$	126,613	$	156,834

For the year ended December 31, 2024, pre-tax income attributable to Bermuda and U.S. operations was $277.0 million and $578.5 million, respectively, as compared to $268.8 million and $554.2 million, respectively, for the year ended December 31, 2023 and $282.5 million and $705.6 million, respectively, for the year ended December 31, 2022.

Income tax expense is different from that which would be obtained by applying the applicable statutory income tax rates to income before taxes by jurisdiction as of December 31, 2024 (i.e. U.S. 21%; Bermuda 0.0%). The reconciliation of the difference between income tax expense and the expected tax provision at the weighted average tax rate was as follows for the years ended December 31:


	2024				2023				2022
($ in thousands)	$		% of pretax income		$		% of pretax income		$		% of pretax income
Tax provision at weighted average statutory rates	$	121,227	14.2	%	$	116,389	14.1	%	$	148,176	15.0	%
State taxes, net of federal benefit	4,478		0.5		4,872		0.6		6,306		0.6

Non-deductible expenses	3,542		0.4		4,501		0.5		4,041		0.4
Tax exempt interest, net of proration	(1,357)		(0.2)		(1,551)		(0.2)		(1,463)		(0.1)
Excess tax (benefit) deficit from stock-based compensation	(668)		(0.1)		145		—		75		—

Other	(1,134)		(0.1)		2,257		0.4		(301)		0.0
Total income tax expense	$	126,088	14.7	%	$	126,613	15.4	%	$	156,834	15.9	%

We provide deferred taxes to reflect the estimated future tax effects of the differences between the financial statement and tax bases of assets and liabilities using currently enacted tax laws. The net deferred tax liability was comprised of the following at December 31:


(In thousands)	2024		2023
Deferred tax assets	$	81,769	$	75,864
Deferred tax liabilities	(474,197)		(438,617)
Net deferred tax liability	$	(392,428)	$	(362,753)

Our net deferred tax liability presented above and on our consolidated balance sheet relates to deferred tax items recognized within the U.S. In addition, we have recorded a deferred tax asset within Bermuda's jurisdiction related to unrealized losses on investment for sale securities in the amount of $5.3 million as of December 31, 2024, which is included in Other Assets in our consolidated balance sheet.

The components of the net deferred tax liability were as follows at December 31:


(In thousands)	2024		2023
Contingency reserves	$	(459,555)	$	(425,360)
Unrealized (gain) loss on investments	47,725		45,226
Unearned premium reserve	12,318		11,978
Investments in limited partnerships	(12,918)		(11,258)
Accrued expenses	7,521		6,404
Fixed assets	5,445		4,433
Unearned ceding commissions	1,610		2,066
Change in fair market value of derivatives	2,436		1,972
Deferred policy acquisition costs	(1,450)		(1,779)
Nonvested shares	2,807		1,938
Loss reserves	1,295		1,033
Start-up expenditures, net	722		884
Impairments on available-for-sale investment securities	—		38
Prepaid expenses	(255)		(220)

Other	(129)		(108)
Net deferred tax liability	$	(392,428)	$	(362,753)

As a mortgage guaranty insurer, we are eligible for a tax deduction, subject to certain limitations, under Section 832(e) of the Internal Revenue Code ("IRC") for amounts required by state law or regulation to be set aside in statutory contingency reserves. The deduction is allowed only to the extent that we purchase T&L Bonds in an amount equal to the tax benefit derived from deducting any portion of our statutory contingency reserves. During the year ended December 31, 2024, we had net purchases of T&L Bonds in the amount of $19.0 million and had net purchases of T&L Bonds in the amount of $52.2 million during the year ended December 31, 2023. As of December 31, 2024 and 2023, we held $489.6 million and $470.6 million of T&L Bonds, respectively.

In evaluating our ability to realize the benefit of our deferred tax assets, we consider the relevant impact of all available positive and negative evidence including our past operating results and our forecasts of future taxable income. For the year ended December 31, 2024, the Company had unrealized losses attributable to its available-for-sale investment securities that if sold would result in capital losses. Accordingly, management considered the ability and intent to hold such available-for-sale securities until recovery. At December 31, 2024 and 2023, after weighing all the evidence, management concluded that it was more likely than not that our ordinary and capital deferred tax assets would be realized.

Under current Bermuda law, our parent company, Essent Group, and its Bermuda subsidiary, Essent Re, are not required to pay any taxes on income and capital gains as of December 31, 2024. On December 27, 2023, the Government of Bermuda enacted the Corporate Income Tax Act 2023 ("CIT"). Starting January 1, 2025, the CIT will result in a new 15% corporate income tax on in-scope entities that are resident in Bermuda or that have a Bermuda permanent establishment, without regard to any assurances that had previously been given pursuant to the Exempted Undertakings Tax Protection Act 1966. The CIT also includes various transitional provisions and elections that we are in the process of evaluating. In particular, we believe that, based on their current structure and operations, our Bermuda companies will be eligible to elect a five-year “limited international presence” exemption under the CIT. We intend to make this election within the timeframe required under Bermuda law, and therefore do not expect the CIT to have a material impact on Essent's effective tax rate until we no longer meet the exemption criteria, or January 1, 2030, the fifth anniversary of the inception date of the tax, whichever may occur sooner. The exemption criteria are subject to interpretation of existing Bermuda law, as well any related new regulations that may be issued by the Government of Bermuda. No assurances can be made that we will continue meeting such criteria for the entire five-year period.

Essent Holdings and its subsidiaries are subject to income taxes imposed by U.S. law and file a U.S. Consolidated Income Tax Return. Should Essent Holdings pay a dividend to its parent company, Essent Irish Intermediate Holdings Limited, withholding taxes at a rate of 5% under the U.S./Ireland tax treaty would likely apply assuming the Company avails itself of Treaty benefits under the U.S./Ireland tax treaty. Absent treaty benefits, the withholding rate on outbound dividends would be 30%. Currently, however, no withholding taxes are accrued with respect to such unremitted earnings as management has no

intention of remitting these earnings. Similarly, no foreign income taxes have been provided on the unremitted earnings of the Company's U.S. subsidiaries as management has neither the intention of remitting these earnings, nor would any Ireland tax be due, as any Irish tax would be expected to be fully offset by credit for taxes paid to the U.S. An estimate of the cumulative amount of U.S. earnings that would be subject to withholding tax, if distributed outside of the U.S., is approximately $4.5 billion. The associated withholding tax liability under the U.S./Ireland tax treaty would be approximately $226.8 million.

Essent is not subject to income taxation other than as stated above. There can be no assurance that there will not be changes in applicable laws, regulations, or treaties which might require Essent to change the way it operates or becomes subject to taxation.

At December 31, 2024 and 2023, the Company had no unrecognized tax benefits. As of December 31, 2024, the U.S. federal income tax returns for the tax years 2020 through 2023 remain subject to examination. The Company has not recorded any uncertain tax positions as of December 31, 2024 or December 31, 2023.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Change in unrealized (depreciation) appreciation of investments, tax (benefit) expense	$ (7,818)	$ 17,944	$ (75,013)

Stock-Based Compensation - Schedule of Nonvested Common Share and Common Share Unit Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share Awards \| Vesting Based On Service And Performance
Number of Shares
Outstanding at beginning of year (in shares)	844	647	500
Granted (in shares)	244	300	308
Vested (in shares)	(167)	(103)	(139)
Forfeited (in shares)	(84)	0	(22)
Outstanding at end of period (in shares)	837	844	647
Weighted Average Grant Date Fair Value
Outstanding at beginning of year (in dollars per share)	$ 14.29	$ 20.99	$ 31.29
Granted (in dollars per share)	21.84	12.66	14.83
Vested (in dollars per share)	15.64	51.52	45.32
Forfeited (in dollars per share)	15.64	0	15.45
Outstanding at end of period (in dollars per share)	$ 16.09	$ 14.29	$ 20.99
Share Awards \| Vesting Based On Service
Number of Shares
Outstanding at beginning of year (in shares)	149	138	140
Granted (in shares)	53	75	87
Vested (in shares)	(75)	(64)	(86)
Forfeited (in shares)	0	0	(3)
Outstanding at end of period (in shares)	127	149	138
Weighted Average Grant Date Fair Value
Outstanding at beginning of year (in dollars per share)	$ 44.40	$ 45.94	$ 45.31
Granted (in dollars per share)	53.87	43.51	46.15
Vested (in dollars per share)	44.50	46.65	45.07
Forfeited (in dollars per share)	0	0	46.91
Outstanding at end of period (in dollars per share)	$ 48.27	$ 44.40	$ 45.94
Time and Performance-Based Share Units
Number of Shares
Outstanding at beginning of year (in shares)	24	5	0
Granted (in shares)	43	19	10
Vested (in shares)	0	0	0
Forfeited (in shares)	0	0	(5)
Outstanding at end of period (in shares)	67	24	5
Weighted Average Grant Date Fair Value
Outstanding at beginning of year (in dollars per share)	$ 13.23	$ 15.35	$ 0
Granted (in dollars per share)	22.46	12.66	15.35
Vested (in dollars per share)	0	0	0
Forfeited (in dollars per share)	0	0	15.35
Outstanding at end of period (in dollars per share)	$ 19.15	$ 13.23	$ 15.35
Time-Based Share Units
Number of Shares
Outstanding at beginning of year (in shares)	700	345	461
Granted (in shares)	307	548	151
Vested (in shares)	(209)	(177)	(192)
Forfeited (in shares)	(35)	(16)	(75)
Outstanding at end of period (in shares)	763	700	345
Weighted Average Grant Date Fair Value
Outstanding at beginning of year (in dollars per share)	$ 42.46	$ 45.95	$ 47.94
Granted (in dollars per share)	53.40	41.78	44.34
Vested (in dollars per share)	41.50	47.43	47.53
Forfeited (in dollars per share)	48.20	39.12	50.85
Outstanding at end of period (in dollars per share)	$ 46.88	$ 42.46	$ 45.95
DEU
Number of Shares
Outstanding at beginning of year (in shares)	57	37	28
Granted (in shares)	36	37	25
Vested (in shares)	(20)	(16)	(14)
Forfeited (in shares)	(6)	(1)	(2)
Outstanding at end of period (in shares)	67	57	37
Weighted Average Grant Date Fair Value
Outstanding at beginning of year (in dollars per share)	$ 44.00	$ 40.86	$ 41.75
Granted (in dollars per share)	57.91	40.55	40.28
Vested (in dollars per share)	44.01	40.38	41.29
Forfeited (in dollars per share)	44.35	42.13	42.70
Outstanding at end of period (in dollars per share)	$ 51.25	$ 44.00	$ 40.86

Statutory Accounting

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Statutory Accounting

Our U.S. insurance subsidiaries prepare statutory-basis financial statements in accordance with the accounting practices prescribed or permitted by their respective state’s department of insurance, which is a comprehensive basis of accounting other than GAAP. We did not use any prescribed or permitted statutory accounting practices (individually or in the aggregate) that resulted in reported statutory surplus or capital that was significantly different from the statutory surplus or capital that would have been reported had National Association of Insurance Commissioners’ statutory accounting practices been followed. The following table presents Essent Guaranty’s and Essent PA’s statutory net income, statutory surplus and contingency reserve liability as of and for the years ended December 31:


(In thousands)	2024		2023		2022
Essent Guaranty
Statutory net income	$	495,516	$	431,266	$	590,505
Statutory surplus	1,101,894		1,004,104		1,020,034
Contingency reserve liability	2,492,487		2,265,713		2,048,740

Essent PA
Statutory net income	N/A		$	(3,055)	$	859
Statutory surplus	N/A		54,044		52,609
Contingency reserve liability	N/A		52,244		56,744

Prior to December 31, 2024, Essent Guaranty reinsured that portion of the risk that is in excess of 25% of the mortgage balance with respect to any loan insured prior to April 1, 2019, after consideration of other reinsurance, to Essent Guaranty of PA, Inc. On December 31, 2024, Essent Guaranty and Essent PA entered into a commutation and release agreement in which all outstanding risk in force assumed by Essent PA was commuted back to Essent Guaranty in exchange for cash. Upon the commutation and release, Essent PA surrendered its insurance license and is no longer an insurance subsidiary of Essent Group Ltd. as of December 31, 2024.

Net income determined in accordance with statutory accounting practices differs from GAAP. In years presented above, the more significant differences between net income determined under statutory accounting practices and GAAP for Essent Guaranty and Essent PA relate to policy acquisition costs and income taxes. Under statutory accounting practices, policy acquisition costs are expensed as incurred while such costs are capitalized and amortized to expense over the life of the policy under GAAP. As discussed in Note 12, we are eligible for a tax deduction, subject to certain limitations for amounts required by state law or regulation to be set aside in statutory contingency reserves when we purchase T&L Bonds. Under statutory accounting practices, this deduction reduces the tax provision recorded by Essent Guaranty and Essent PA and, as a result, increases statutory net income and surplus as compared to net income and equity determined in accordance with GAAP.

At December 31, 2024 and 2023, the statutory capital of our U.S. insurance subsidiaries, which is defined as the total of statutory surplus and contingency reserves, was in excess of the statutory capital necessary to satisfy their respective regulatory requirements.

Effective December 31, 2015, Fannie Mae and Freddie Mac, at the direction of the Federal Housing Finance Agency, implemented new coordinated Private Mortgage Insurer Eligibility Requirements, which we refer to as the "PMIERs." The PMIERs represent the standards by which private mortgage insurers are eligible to provide mortgage insurance on loans owned or guaranteed by Fannie Mae and Freddie Mac. The PMIERs include financial strength requirements incorporating a risk-based framework that require approved insurers to have a sufficient level of liquid assets from which to pay claims. The PMIERs also include enhanced operational performance expectations and define remedial actions that apply should an approved insurer fail to comply with these requirements. In 2018, the GSEs released revised PMIERs framework ("PMIERs 2.0") which became effective on March 31, 2019. As of December 31, 2024, Essent Guaranty, our GSE-approved mortgage insurance company, was in compliance with PMIERs 2.0.

Statement of Statutory Accounting Principles No. 58, Mortgage Guaranty Insurance, requires mortgage insurers to establish a special contingency reserve for statutory accounting purposes included in total liabilities equal to 50% of earned premium for that year. During 2024, Essent Guaranty increased its contingency reserve by $226.8 million. This reserve is required to be maintained for a period of 120 months to protect against the effects of adverse economic cycles. After 120 months, the reserve is released to unassigned funds. In the event an insurer’s loss ratio in any calendar year exceeds 35%,

however, the insurer may, after regulatory approval, release from its contingency reserves an amount equal to the excess portion of such losses. During the years ended December 31, 2024 and 2023, Essent Guaranty released contingency reserves of $99.3 million and $56.6 million, respectively, to unassigned funds upon completion of the 120 month holding period.

Under The Insurance Act 1978, as amended, and related regulations of Bermuda (the "Insurance Act"), Essent Re is required to annually prepare statutory financial statements and a statutory financial return in accordance with the financial reporting provisions of the Insurance Act, which is a basis other than GAAP. The Insurance Act also requires that Essent Re maintain minimum share capital of $1 million and must ensure that the value of its general business assets exceeds the amount of its general business liabilities by an amount greater than the prescribed minimum solvency margins and enhanced capital requirement pertaining to its general business. At December 31, 2024 and 2023, all such requirements were met.

Essent Re's statutory capital and surplus was $1.8 billion and $1.9 billion as of December 31, 2024 and 2023, respectively, and statutory net income was $320.2 million and $304.8 million, respectively. Statutory capital and surplus and net income determined in accordance with statutory accounting practices were not significantly different than the amounts determined under GAAP.

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Net premiums written	$ 966,580	$ 894,282	$ 820,029
Decrease in unearned premiums	24,302	22,624	22,498
Net premiums earned	990,882	916,906	842,527
Net investment income	222,070	186,139	124,409
Realized investment gains (losses), net	(2,350)	(7,204)	(13,172)
Income (loss) from other invested assets	7,375	(11,118)	28,676
Other income	24,927	25,036	18,384
Total revenues	1,242,904	1,109,759	1,000,824
Losses and expenses:
Provision (benefit) for losses and LAE	81,220	31,542	(174,704)
Other underwriting and operating expenses	270,874	225,081	171,733
Interest expense	35,319	30,137	15,608
Total losses and expenses	387,413	286,760	12,637
Income before income taxes	855,491	822,999	988,187
Income tax expense	126,088	126,613	156,834
Net income	$ 729,403	$ 696,386	$ 831,353
Earnings per share:
Basic (in dollars per share)	$ 6.92	$ 6.56	$ 7.75
Diluted (in dollars per share)	$ 6.85	$ 6.50	$ 7.72
Weighted average shares outstanding:
Basic (in shares)	105,394	106,222	107,205
Diluted (in shares)	106,550	107,129	107,653
Other comprehensive income (loss):
Change in unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of $(7,818) in 2024, $17,944 in 2023 and $(75,013) in 2022	$ (23,488)	$ 102,294	$ (433,497)
Total other comprehensive income (loss)	(23,488)	102,294	(433,497)
Comprehensive income	$ 705,915	$ 798,680	$ 397,856

Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Obligations under Guarantees

Under the terms of CUW Solutions' contract underwriting agreements with lenders and subject to contractual limitations on liability, we agree to indemnify certain lenders against losses incurred in the event that we make an error in determining whether loans processed meet specified underwriting criteria, to the extent that such error materially restricts or impairs the salability of such loan, results in a material reduction in the value of such loan or results in the lender repurchasing the loan. The indemnification may be in the form of monetary or other remedies. For each of the years ended December 31, 2024 and 2023, we paid less than $0.1 million related to remedies. As of December 31, 2024, management believes any potential claims for indemnification related to contract underwriting services through December 31, 2024 are not material to our consolidated financial position or results of operations.

In addition to the indemnifications discussed above, in the normal course of business, we enter into agreements or other relationships with third parties pursuant to which we may be obligated under specified circumstances to indemnify the counterparties with respect to certain matters. Our contractual indemnification obligations typically arise in the context of agreements entered into by us to, among other things, purchase or sell services, finance our business and business transactions, lease real property and license intellectual property. The agreements we enter into in the normal course of business generally require us to pay certain amounts to the other party associated with claims or losses if they result from our breach of the agreement, including the inaccuracy of representations or warranties. The agreements we enter into may also contain other indemnification provisions that obligate us to pay amounts upon the occurrence of certain events, such as the negligence or willful misconduct of our employees, infringement of third-party intellectual property rights or claims that performance of the agreement constitutes a violation of law. Generally, payment by us under an indemnification provision is conditioned upon the other party making a claim, and typically we can challenge the other party's claims. Further, our indemnification obligations may be limited in time and/or amount, and in some instances, we may have recourse against third parties for certain payments made by us under an indemnification agreement or obligation. As of December 31, 2024, contingencies triggering material indemnification obligations or payments have not occurred historically and are not expected to occur. The nature of the indemnification provisions in the various types of agreements and relationships described above are believed to be low risk and pervasive, and we consider them to have a remote risk of loss or payment. We have not recorded any provisions on the consolidated balance sheets related to these indemnifications.

Commitments

We lease office space for use in our operations under leases accounted for as operating leases. These leases generally include options to extend them for periods of up to fifteen years. Our option to extend the term of our primary office locations at the greater of existing or prevailing market rates was not recognized in our right-of-use asset and lease liability. When establishing the value of our right-of-use asset and lease liability, we determine the discount rate for the underlying leases using the prevailing market interest rate for a borrowing of the same duration of the lease plus the risk premium inherent in the borrowings under our Credit Facility. Operating lease right-of-use assets of $30.0 million and $32.2 million as of December 31, 2024 and 2023, respectively, are reported on our consolidated balance sheet as property and equipment. Operating lease liabilities of $36.2 million and $38.0 million as of December 31, 2024 and 2023, respectively, are reported on our consolidated balance sheet as other accrued liabilities. Total rent expense was $5.9 million, $5.1 million and $3.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The following table presents lease cost and other lease information as of and for the years ended December 31:


	Year Ended December 31,
($ in thousands)	2024			2023			2022
Lease cost:
Operating lease cost	$	5,918		$	5,138		$	3,908
Short-term lease cost	207			128			—
Sublease income	(213)			(142)			(138)
Total lease cost	$	5,912		$	5,124		$	3,770
Other information:
Weighted average remaining lease term - operating leases	9.4 years			10.6 years			6.9 years
Weighted average discount rate - operating leases	4.6		%	4.5		%	3.6		%

The following table presents a maturity analysis of our lease liabilities as follows at December 31, 2024:


Year Ended December 31 (In thousands)
2025	$	5,853
2026	4,698
2027	4,621
2028	4,407
2029	4,320
2030 and thereafter	21,306
Total lease payments to be paid	45,205
Less: Future interest expense	(9,032)
Present value of lease liabilities	$	36,173

The maturity analysis of our lease liabilities shown above have not been reduced by minimum sublease rental income of $0.2 million due in 2025 under the non-cancelable sublease.

Contingencies

Our title operations may occasionally be named as a defendant in claims concerning alleged errors or omissions pertaining to the issuance of title policies or the performance of escrow services. The Company assesses pending and threatened claims to determine whether losses are probable and reasonably estimable in accordance with ASC 450, Contingencies. The Company maintains a reserve for potential losses related to title research and the related title policies sold by the Company as the agent. This reserve is subjective and is based on known claims and claims incurred but not yet reported to the Company. The Company monitors the claims reserve for adequacy on a quarterly basis. As of December 31, 2024 the Company had recorded a claims reserve on the Consolidated Balance Sheet of $3.2 million, which is included in other accrued liabilities.

Investments - Schedule of Municipal Debt Securities and Corporate Debt Securities (Details)	Dec. 31, 2024	Dec. 31, 2023
Municipal debt securities
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	100.00%	100.00%
Municipal debt securities \| Special revenue bonds
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	83.30%	81.40%
Municipal debt securities \| General obligation bonds
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	16.70%	18.60%
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	100.00%	100.00%
Corporate debt securities \| Financial
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	41.80%	42.00%
Corporate debt securities \| Consumer, Non-Cyclical
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	15.10%	15.90%
Corporate debt securities \| Industrial
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	8.20%	8.10%
Corporate debt securities \| Communications
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	5.70%	7.20%
Corporate debt securities \| Consumer, Cyclical
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	6.30%	7.10%
Corporate debt securities \| Utilities
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	8.70%	6.30%
Corporate debt securities \| Technology
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	6.40%	6.20%
Corporate debt securities \| Energy
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	5.10%	4.70%
Corporate debt securities \| Basic Materials
Debt Securities, Available-for-sale [Line Items]
Percentage of debt securities	2.70%	2.50%

Reinsurance - Schedule of Effect on Net Premiums Written and Earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net premiums written:
Direct	$ 1,098,603	$ 1,028,781	$ 927,702
Ceded	(132,023)	(134,499)	(107,673)
Net premiums written	966,580	894,282	820,029
Net premiums earned:
Direct	1,122,905	1,051,405	950,200
Ceded	(132,023)	(134,499)	(107,673)
Net premiums earned	$ 990,882	$ 916,906	$ 842,527

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense which is generated in the U.S. consists of the following components for the years ended December 31:


(In thousands)	2024		2023		2022
Current	$	93,914	$	139,859	$	98,666
Deferred	32,174		(13,246)		58,168

Total income tax expense	$	126,088	$	126,613	$	156,834

Schedule of Reconciliation of Difference between Income Tax Expense and Expected Tax Provision at Weighted Average Tax Rate

The reconciliation of the difference between income tax expense and the expected tax provision at the weighted average tax rate was as follows for the years ended December 31:


	2024				2023				2022
($ in thousands)	$		% of pretax income		$		% of pretax income		$		% of pretax income
Tax provision at weighted average statutory rates	$	121,227	14.2	%	$	116,389	14.1	%	$	148,176	15.0	%
State taxes, net of federal benefit	4,478		0.5		4,872		0.6		6,306		0.6

Non-deductible expenses	3,542		0.4		4,501		0.5		4,041		0.4
Tax exempt interest, net of proration	(1,357)		(0.2)		(1,551)		(0.2)		(1,463)		(0.1)
Excess tax (benefit) deficit from stock-based compensation	(668)		(0.1)		145		—		75		—

Other	(1,134)		(0.1)		2,257		0.4		(301)		0.0
Total income tax expense	$	126,088	14.7	%	$	126,613	15.4	%	$	156,834	15.9	%

Schedule of Net Deferred Tax (Liability) Asset and Components

The net deferred tax liability was comprised of the following at December 31:


(In thousands)	2024		2023
Deferred tax assets	$	81,769	$	75,864
Deferred tax liabilities	(474,197)		(438,617)
Net deferred tax liability	$	(392,428)	$	(362,753)

The components of the net deferred tax liability were as follows at December 31:


(In thousands)	2024		2023
Contingency reserves	$	(459,555)	$	(425,360)
Unrealized (gain) loss on investments	47,725		45,226
Unearned premium reserve	12,318		11,978
Investments in limited partnerships	(12,918)		(11,258)
Accrued expenses	7,521		6,404
Fixed assets	5,445		4,433
Unearned ceding commissions	1,610		2,066
Change in fair market value of derivatives	2,436		1,972
Deferred policy acquisition costs	(1,450)		(1,779)
Nonvested shares	2,807		1,938
Loss reserves	1,295		1,033
Start-up expenditures, net	722		884
Impairments on available-for-sale investment securities	—		38
Prepaid expenses	(255)		(220)

Other	(129)		(108)
Net deferred tax liability	$	(392,428)	$	(362,753)

Acquisitions - Schedule of Preliminary Valuation of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands			12 Months Ended		18 Months Ended
	Dec. 31, 2024	Jul. 01, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2022
Measurement Period Adjustments
Goodwill			$ (1,247)	$ 11,677
Liabilities Assumed:
Goodwill	$ 48,761		48,761	$ 50,008	$ 48,761	$ 0
Boston National Title
Consideration Paid:
Cash	91,310	$ 92,625
Assets Acquired:
Cash and cash equivalents	5,864	5,864	5,864		5,864
Short-term investments	21,108	21,108	21,108		21,108
Fixed maturities available for sale	9,668	9,668	9,668		9,668
Identifiable intangible assets	22,900	26,300	22,900		22,900
Other assets	14,069	16,366	14,069		14,069
Measurement Period Adjustments
Cash		(1,300)			(1,315)
Identifiable intangible assets					(3,400)
Other assets					(2,297)
Reserve for losses					(464)
Other liabilities					6,512
Total Identifiable Net Assets					(11,745)
Goodwill					10,430
Liabilities Assumed:
Reserve for losses	14,149	14,613	14,149		14,149
Other liabilities	16,911	10,399	16,911		16,911
Total Identifiable Net Assets	42,549	54,294	42,549		42,549
Goodwill	$ 48,761	$ 38,331	$ 48,761		$ 48,761

Statutory Accounting - Narrative (Details) - Affiliated Entity - USD ($) $ in Thousands		12 Months Ended
	Mar. 31, 2019	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Essent Guaranty
Dividends Restrictions
Increase (decrease) in contingency reserve		$ 226,800
Released contingency reserves		99,300	$ 56,600
Statutory net income		495,516	431,266	$ 590,505
Essent Re
Dividends Restrictions
Statutory capital and surplus		1,800,000	1,900,000
Statutory net income		$ 320,200	304,800
Essent PA
Dividends Restrictions
Statutory net income			$ (3,055)	$ 859
Essent PA \| Reinsurance for mortgage insurance coverage in excess of 25%
Dividends Restrictions
Reinsurance for mortgage insurance coverage threshold (in excess of)	25.00%

Reinsurance - Excess of Loss Reinsurance (Details)	12 Months Ended
Reinsurance - Excess of Loss Reinsurance (Details)	Dec. 31, 2024
Radnor Re 2019-1 Ltd.
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Retired percent	100.00%
Radnor Re 2020-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Retired percent	99.00%
VIE \| Reinsurance Policy, Type [Axis]: Mortgage Insurance \| Mortgage Insurance Linked Notes \| Radnor Re
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance debt issued to cover insurance term	10 years
VIE \| Radnor Re \| Reinsurance Policy, Type [Axis]: Mortgage Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Amortization period	10 years

Earnings per Share (EPS) (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Net Income and Weighted Average Common Shares Outstanding used in Computations of Basic and Diluted Earnings per Common Share

The following table reconciles the net income and the weighted average common shares outstanding used in the computations of basic and diluted earnings per common share for the years ended December 31:


(In thousands, except per share amounts)	2024		2023		2022
Net income	$	729,403	$	696,386	$	831,353

Basic weighted average shares outstanding	105,394		106,222		107,205
Dilutive effect of nonvested shares	1,156		907		448
Diluted weighted average shares outstanding	106,550		107,129		107,653

Basic earnings per share	$	6.92	$	6.56	$	7.75
Diluted earnings per share	$	6.85	$	6.50	$	7.72

Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Nonvested performance-based share awards are considered contingently issuable for purposes of the EPS calculation. The 2024, 2023 and 2022 performance-based share awards vest based upon our compounded annual book value per share growth percentage and relative total shareholder return during a three-year performance period. The following table summarizes the performance-based shares issuable if the reporting date was the end of the contingency period.


	2024 Performance-Based Grants		2023 Performance-Based Grants		2022 Performance-Based Grants		2021 Performance-Based Grants
As of December 31,	Percent Issuable Relative to Target	As a Percent of Shares Issued	Percent Issuable Relative to Target	As a Percent of Shares Issued	Percent Issuable Relative to Target	As a Percent of Shares Issued	Percent Issuable Relative to Target	As a Percent of Shares Issued
2024	100%	50%	174%	87%	168%	84%	(1)	(1)
2023			200%	100%	200%	100%	133%	66%
2022					131%	66%	100%	50%

(1) The 2021 performance based awards vested at 133% relative to target on March 1, 2024.

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2024	Feb. 14, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36157
Entity Registrant Name	ESSENT GROUP LTD.
Entity Incorporation, State or Country Code	D0
Entity Address, Address Line One	Clarendon House
Entity Address, Address Line Two	2 Church Street
Entity Address, City or Town	Hamilton
Entity Address, Postal Zip Code	HM11
Entity Address, Country	BM
City Area Code	441
Local Phone Number	297-9901
Title of 12(b) Security	Common Shares, $0.015 par value
Trading Symbol	ESNT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 5,789,192,711
Entity Common Stock, Shares Outstanding		103,835,368
Documents Incorporated by Reference	Portions of the registrant's proxy statement for the 2025 Annual General Meeting of Shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant's fiscal year ended December 31, 2024.
Entity Central Index Key	0001448893
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

We carry certain of our financial instruments at fair value. We define fair value as the current amount that would be exchanged to sell an asset or transfer a liability, other than in a forced liquidation.

Fair Value Hierarchy

ASC No. 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. The level within the fair value hierarchy to measure the financial instrument shall be determined based on the lowest level input that is significant to the fair value measurement. The three levels of the fair value hierarchy are as follows:

•Level 1—Quoted prices for identical instruments in active markets accessible at the measurement date.

•Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and valuations in which all significant inputs are observable in active markets. Inputs are observable for substantially the full term of the financial instrument.

•Level 3—Valuations derived from one or more significant inputs that are unobservable.

Determination of Fair Value

When available, we generally use quoted market prices to determine fair value and classify the financial instrument in Level 1. In cases where quoted market prices for similar financial instruments are available, we utilize these inputs for valuation techniques and classify the financial instrument in Level 2. In cases where quoted market prices are not available, fair values are based on estimates using discounted cash flows, present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rates and estimates of future cash flows and we classify the financial instrument in Level 3. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

We used the following methods and assumptions in estimating fair values of financial instruments:

•Investments available for sale—Investments available for sale are valued using quoted market prices in active markets, when available, and those investments are classified as Level 1 of the fair value hierarchy. Level 1 investments available for sale include investments such as U.S. Treasury securities and money market funds. Investments available for sale are classified as Level 2 of the fair value hierarchy if quoted market prices are not available and fair values are estimated using quoted prices of similar securities or recently executed transactions for the securities. U.S. agency securities, U.S. agency mortgage-backed securities, municipal debt securities, non-U.S. government securities, corporate debt securities, residential and commercial mortgage securities and asset-backed securities are classified as Level 2 investments.

We use independent pricing sources to determine the fair value of securities available for sale in Level 1 and Level 2 of the fair value hierarchy. We use one primary pricing service to provide individual security pricing based on observable market data and receive one quote per security. To ensure securities are appropriately classified in the fair value hierarchy, we review the pricing techniques and methodologies of the independent pricing service and believe that their policies adequately consider market activity, either based on specific transactions for the issue valued or based on modeling of securities with similar credit quality, duration, yield and structure that were recently traded. U.S. agency securities, U.S. agency mortgage-backed securities, municipal debt securities, non-U.S. government securities, and corporate debt securities are valued by our primary vendor using recently executed transactions and proprietary models based on observable inputs, such as interest rate spreads, yield curves and credit risk. Residential and commercial mortgage securities and asset-backed securities are valued by our primary vendor using proprietary models based on observable inputs, such as interest rate spreads, prepayment speeds and credit risk. As part of our evaluation of investment prices provided by our primary pricing service, we obtained and reviewed their pricing methodologies which include a description of how each security type is evaluated and priced. We review the reasonableness of prices received from our primary pricing service by comparison to prices obtained from additional pricing sources. We have not made any adjustments to the prices obtained from our primary pricing service.

Assets and Liabilities Measured at Fair Value


December 31, 2024 (In thousands)	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Recurring fair value measurements
Financial Assets:
U.S. Treasury securities	$	547,290	$	—	$	—	$	547,290
U.S. agency securities	—		—		—		—
U.S. agency mortgage-backed securities	—		1,125,436		—		1,125,436
Municipal debt securities	—		583,501		—		583,501
Non-U.S. government securities	—		69,798		—		69,798
Corporate debt securities	—		1,783,046		—		1,783,046
Residential and commercial mortgage securities	—		478,086		—		478,086
Asset-backed securities	—		631,959		—		631,959
Money market funds	657,605		—		—		657,605
Total assets at fair value (1) (2)	$	1,204,895	$	4,671,826	$	—	$	5,876,721


December 31, 2023 (In thousands)	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Recurring fair value measurements
Financial Assets:
U.S. Treasury securities	$	996,382	$	—	$	—	$	996,382
U.S. agency securities	—		7,195		—		7,195
U.S. agency mortgage-backed securities	—		821,346		—		821,346
Municipal debt securities	—		547,258		—		547,258
Non-U.S. government securities	—		67,447		—		67,447
Corporate debt securities	—		1,297,055		—		1,297,055
Residential and commercial mortgage securities	—		517,940		—		517,940
Asset-backed securities	—		564,995		—		564,995
Money market funds	444,121		—		—		444,121
Total assets at fair value (1) (2)	$	1,440,503	$	3,823,236	$	—	$	5,263,739

_______________________________________________________________________________

Assets and Liabilities Not Carried at Fair Value

Our Senior Notes are carried at amortized cost, net of issuance costs, on our condensed consolidated balance sheets. The carrying amount and estimated fair value of our Senior Notes was $494.0 million and $510.8 million, respectively, as of December 31, 2024. The fair value of our senior notes is estimated based on quoted market prices.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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+ Details

Reserve for Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2024

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Schedule of Reconciliation of Beginning and Ending Reserve Balances for Losses and Loss Adjustment Expenses (LAE)

The following table provides a reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses ("LAE") for the years ended December 31:


(In thousands)	2024		2023		2022
Reserve for losses and LAE at beginning of year	$	260,095	$	216,464	$	407,445
Less: Reinsurance recoverables	24,104		14,618		25,940
Net reserve for losses and LAE at beginning of year	235,991		201,846		381,505
Net reserves acquired during the period	—		14,049		—
Add provision for losses and LAE, net of reinsurance, occurring in:
Current year	177,037		141,191		99,372
Prior years	(95,817)		(109,649)		(274,076)
Net incurred losses and LAE during the current year	81,220		31,542		(174,704)
Deduct payments for losses and LAE, net of reinsurance, occurring in:
Current year	3,356		694		224
Prior years	21,743		10,752		4,731
Net loss and LAE payments during the current year	25,099		11,446		4,955
Net reserve for losses and LAE at end of year	292,112		235,991		201,846
Plus: Reinsurance recoverables	36,754		24,104		14,618
Reserve for losses and LAE at end of year	$	328,866	$	260,095	$	216,464

The following table summarizes mortgage insurance incurred loss and allocated loss adjustment expense development, net of reinsurance, IBNR plus expected development on reported defaults and the cumulative number of reported defaults. The information about incurred loss development for the years ended December 31, 2015 to 2023 is presented as supplementary information.


	Incurred Loss and Allocated LAE, For the Years Ended December 31,																				As of December 31, 2024
(In thousands)																					Total of IBNR plus Expected Development on Reported Defaults		Cumulative Number of Reported Defaults (1)
	Unaudited
Accident Year	2015		2016		2017		2018		2019		2020		2021		2022		2023		2024
2015	$	14,956	$	9,625	$	8,893	$	8,439	$	8,461	$	8,323	$	8,410	$	8,434	$	8,435	$	8,435	$	7	124
2016			21,889		11,890		9,455		9,219		8,972		8,614		8,861		8,709		8,643		8		264
2017					38,178		16,261		12,202		11,488		11,249		11,550		11,196		11,101		28		362
2018							36,438		23,168		19,536		17,402		17,249		16,535		15,895		64		511
2019									50,562		39,085		23,649		24,223		19,455		17,395		153		689
2020											317,516		269,410		53,045		23,297		15,561		405		696
2021													97,256		38,551		16,567		9,485		357		445
2022															99,372		48,593		29,158		1,535		627
2023																	138,617		78,940		5,476		2,085
2024																			171,947		13,413		15,647
Total																			$	366,560

(1) Cumulative number of reported defaults includes cumulative paid claims plus loans in default by accident year as of December 31, 2024.

The following table summarizes cumulative paid losses and allocated loss adjustment expenses, net of reinsurance. The information about paid loss development for the years ended December 31, 2015 through 2023 is presented as supplementary information.


(In thousands)	Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,
	Unaudited
Accident Year	2015		2016		2017		2018		2019		2020		2021		2022		2023		2024
2015	$	544	$	3,610	$	6,960	$	7,535	$	7,961	$	8,055	$	8,226	$	8,335	$	8,337	$	8,337
2016			927		4,896		6,947		7,864		8,270		8,205		8,468		8,542		8,540
2017					633		5,370		9,156		10,257		10,536		10,620		10,704		10,705
2018							1,310		8,067		13,406		13,927		14,536		14,781		14,971
2019									1,288		8,049		10,717		12,392		14,064		15,183
2020											1,018		2,499		4,022		6,921		9,875
2021													388		856		2,916		4,740
2022															224		3,209		8,633
2023																	517		9,375
2024																			2,686
Total																			$	93,045
All outstanding liabilities before 2015, net of reinsurance																			—
Reserve for losses and LAE, net of reinsurance																			$	273,552

The following table provides a reconciliation of the net incurred losses and paid claims development tables above to the mortgage insurance reserve for losses and LAE at December 31, 2024:


(In thousands)	December 31, 2024
Reserve for losses and LAE, net of reinsurance	$	273,552
Reinsurance recoverables on unpaid claims	36,655
Total gross reserve for losses and LAE	$	310,207

The above table excludes title insurance reserves as of December 31, 2024, which were $18.7 million.

For our mortgage insurance portfolio, our average annual payout of losses as of December 31, 2024 is as follows:


Average Annual Percentage Payout of Incurred Losses and Allocated LAE by Year
Year	1		2		3		4		5		6		7		8		9		10

Average Payout	10	%	42	%	28	%	10	%	7	%	2	%	1	%	0	%	0	%	0	%

Investments - Schedule of Available For Sale Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Amortized Cost
Amortized Cost	$ 6,231,018	$ 5,586,730
Fair Value
Fair Value	5,876,721	5,263,739
U.S. Treasury securities
Amortized Cost
Due in 1 year	213,553
Due after 1 but within 5 years	301,532
Due after 5 but within 10 years	32,302
Due after 10 years	14,466
Subtotal	561,853
Amortized Cost	561,853	1,014,076
Fair Value
Due in 1 year	212,961
Due after 1 but within 5 years	292,711
Due after 5 but within 10 years	29,303
Due after 10 years	12,315
Subtotal	547,290
Fair Value	547,290	996,382
Municipal debt securities
Amortized Cost
Due in 1 year	16,767
Due after 1 but within 5 years	84,229
Due after 5 but within 10 years	144,143
Due after 10 years	385,876
Subtotal	631,015
Amortized Cost	631,015	585,047
Fair Value
Due in 1 year	16,624
Due after 1 but within 5 years	81,905
Due after 5 but within 10 years	134,741
Due after 10 years	350,231
Subtotal	583,501
Fair Value	583,501	547,258
Non-U.S. government securities
Amortized Cost
Due in 1 year	5,267
Due after 1 but within 5 years	32,032
Due after 5 but within 10 years	7,706
Due after 10 years	36,626
Subtotal	81,631
Amortized Cost	81,631	77,516
Fair Value
Due in 1 year	5,233
Due after 1 but within 5 years	30,792
Due after 5 but within 10 years	6,195
Due after 10 years	27,578
Subtotal	69,798
Fair Value	69,798	67,447
Corporate debt securities
Amortized Cost
Due in 1 year	164,458
Due after 1 but within 5 years	505,921
Due after 5 but within 10 years	1,014,720
Due after 10 years	202,548
Subtotal	1,887,647
Amortized Cost	1,887,647	1,380,533
Fair Value
Due in 1 year	163,676
Due after 1 but within 5 years	489,307
Due after 5 but within 10 years	959,079
Due after 10 years	170,984
Subtotal	1,783,046
Fair Value	1,783,046	1,297,055
U.S. agency mortgage-backed securities
Amortized Cost
Amortized Cost	1,249,259	922,907
Fair Value
Fair Value	1,125,436	821,346
Residential and commercial mortgage securities
Amortized Cost
Amortized Cost	519,613	571,163
Fair Value
Fair Value	478,086	517,940
Asset-backed securities
Amortized Cost
Amortized Cost	642,395	584,168
Fair Value
Fair Value	631,959	564,995
Money market funds
Amortized Cost
Amortized Cost	657,605	444,121
Fair Value
Fair Value	$ 657,605	$ 444,121

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Information


	Year Ended December 31, 2024
(In thousands)	Mortgage Insurance			Corporate & Other		Consolidated
Revenues:
Net premiums earned	$	924,676		$	66,206	$	990,882
Net investment income	183,341			38,729		222,070
Realized investment (losses) gains, net	(2,343)			(7)		(2,350)
Income (loss) from other invested assets	7,171			204		7,375

Other income	14,152			10,775		24,927
Total revenues	1,126,997			115,907		1,242,904

Losses and expenses:
Provision (benefit) for losses and LAE	75,182			6,038		81,220

Compensation and benefits	72,156			64,236		136,392
Premium and other taxes	23,007			1,497		24,504
Ceding commission	(24,248)			—		(24,248)
Other underwriting and operating expenses	44,829			89,397		134,226
Net operating expenses before allocations	115,744			155,130		270,874
Corporate expense allocations	43,787			(43,787)		—
Operating expenses after allocations	159,531			111,343		270,874

Interest expense	—			35,319		35,319
Income (loss) before income taxes	$	892,284		$	(36,793)	$	855,491

Loss ratio (1)	8.1		%
Expense ratio (2)	17.3		%
Combined ratio	25.4		%



(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned.
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned.


	Year Ended December 31, 2023
(In thousands)	Mortgage Insurance			Corporate & Other		Consolidated
Revenues:
Net premiums earned	$	878,937		$	37,969	$	916,906
Net investment income	159,868			26,271		186,139
Realized investment (losses) gains, net	(6,392)			(812)		(7,204)
Income (loss) from other invested assets	(490)			(10,628)		(11,118)

Other income	20,692			4,344		25,036
Total revenues	1,052,615			57,144		1,109,759

Losses and expenses:
Provision (benefit) for losses and LAE	30,120			1,422		31,542

Compensation and benefits	68,996			45,902		114,898
Premium and other taxes	22,544			(376)		22,168
Ceding commission	(21,326)			—		(21,326)
Other underwriting and operating expenses	44,968			64,373		109,341
Net operating expenses before allocations	115,182			109,899		225,081
Corporate expense allocations	47,274			(47,274)		—
Operating expenses after allocations	162,456			62,625		225,081

Interest expense	—			30,137		30,137
Income (loss) before income taxes	$	860,039		$	(37,040)	$	822,999

Loss ratio (1)	3.4		%
Expense ratio (2)	18.5		%
Combined ratio	21.9		%



(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned.
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned.


	Year Ended December 31, 2022
Summary of Profit & Loss (In thousands)	Mortgage Insurance			Corporate & Other		Consolidated
Revenues:
Net premiums earned	$	842,527		$	—	$	842,527
Net investment income	112,285			12,124		124,409
Realized investment (losses) gains, net	(1,829)			(11,343)		(13,172)
Income (loss) from other invested assets	33,142			(4,466)		28,676
Other income	18,384			—		18,384
Total revenues	1,004,509			(3,685)		1,000,824

Losses and expenses:
Provision (benefit) for losses and LAE	(174,704)			—		(174,704)

Compensation and benefits	66,410			33,892		100,302
Premium and other taxes	20,977			—		20,977
Ceding commission	(17,516)			—		(17,516)
Other underwriting and operating expenses	41,634			26,336		67,970
Net operating expenses before allocations	111,505			60,228		171,733
Corporate expense allocations	48,100			(48,100)		—
Operating expenses after allocations	159,605			12,128		171,733
Interest expense	—			15,608		15,608
Income (loss) before income tax expense	$	1,019,608		$	(31,421)	$	988,187

Loss ratio (1)	(20.7)		%
Expense ratio (2)	18.9		%
Combined ratio	(1.8)		%


(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned.
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned.

Schedule II - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule II - Condensed Financial Information of Registrant

Schedule II—Condensed Financial Information of Registrant

Condensed Balance Sheets

Parent Company Only


	December 31,
(In thousands)	2024		2023
Assets
Investments
Fixed maturities available for sale, at fair value (amortized cost: 2024 — $158,953; 2023 — $94,221)	$	151,600	$	86,558
Short-term investments available for sale, at fair value (amortized cost: 2024 — $158,242; 2023 — $81,993)	158,242		81,992
Total investments available for sale	309,842		168,550
Other invested assets	—		2,166
Cash	2,267		4,073
Due from affiliates	2,517		1,487
Investment in consolidated subsidiaries	5,792,965		5,346,888
Other assets	6,631		4,283
Total Assets	$	6,114,222	$	5,527,447

Liabilities and stockholders' equity
Liabilities
Due to affiliates	$	—	$	415
Senior notes due 2029, net	493,959		—
Credit facility borrowings, net	—		421,920
Other accrued liabilities	16,605		2,562
Total liabilities	510,564		424,897
Commitments and contingencies
Stockholders' Equity
Common shares	1,575		1,599
Additional paid-in capital	1,214,956		1,299,869
Accumulated other comprehensive loss	(303,984)		(280,496)
Retained earnings	4,691,111		4,081,578
Total stockholders' equity	5,603,658		5,102,550
Total liabilities and stockholders' equity	$	6,114,222	$	5,527,447

See accompanying supplementary notes to Parent Company condensed

financial information and the consolidated financial statements and notes thereto.

Schedule II—Condensed Financial Information of Registrant

Condensed Statements of Comprehensive Income

Parent Company Only


	Year Ended December 31,
(In thousands)	2024		2023		2022
Revenues:
Net investment income	$	9,030	$	5,663	$	6,433
Realized investment losses, net	(2)		(11,722)		(12,170)
Loss from other invested assets	(2,336)		—		—
Administrative service fees from subsidiaries	830		710		642
Total revenues	7,522		(5,349)		(5,095)
Expenses:
Administrative service fees to subsidiaries	4,717		3,738		3,908
Other operating expenses	8,046		7,010		7,614
Interest expense	35,319		30,137		15,609
Total expenses	48,082		40,885		27,131
Loss before income taxes and equity in undistributed net income in subsidiaries	(40,560)		(46,234)		(32,226)
Income tax expense (benefit)	—		(181)		—
Loss before equity in undistributed net income of subsidiaries	(40,560)		(46,053)		(32,226)
Equity in undistributed net income of subsidiaries	769,963		742,439		863,579
Net income	$	729,403	$	696,386	$	831,353
Other comprehensive income (loss):
Change in unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of $(7,818) in 2024, $17,944 in 2023 and $(75,013) in 2022	(23,488)		102,294		(433,497)
Total other comprehensive income (loss)	(23,488)		102,294		(433,497)
Comprehensive income	$	705,915	$	798,680	$	397,856

See accompanying supplementary notes to Parent Company condensed

financial information and the consolidated financial statements and notes thereto.

Schedule II—Condensed Financial Information of Registrant

Condensed Statements of Cash Flows

Parent Company Only


	Year Ended December 31,
(In thousands)	2024		2023		2022
Operating Activities
Net income	$	729,403	$	696,386	$	831,353
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income of subsidiaries	(769,963)		(742,439)		(863,579)
Loss on the sale of investments, net	2		11,722		12,170
Loss from other invested assets	2,336		—		—
Dividends from subsidiaries	300,000		60,000		—
Stock-based compensation expense	1,134		1,000		927
Amortization of premium on investment securities	129		324		800
Deferred income taxes	—		(181)		—
Changes in assets and liabilities:
Other assets	889		816		1,775
Other accrued liabilities	40,289		18,365		19,232
Net cash provided by operating activities	304,219		45,993		2,678
Investing Activities
Net change in short-term investments	(76,250)		(14,370)		94,988
Purchase of investments available for sale	(106,653)		(9,860)		(157,468)
Proceeds from maturities and paydowns of investments available for sale	33,515		24,787		81,351
Proceeds from sales of investments available for sale	8,276		128,249		164,733
Net cash (used in) provided by investing activities	(141,112)		128,806		183,604
Financing Activities

Issuance of senior notes	498,160		—		—
Credit facility repayments	(425,000)		—		—
Treasury stock acquired	(111,542)		(70,670)		(97,914)
Payment of debt issuance costs	(8,488)		—		(154)

Dividends paid	(118,043)		(106,215)		(92,128)
Net cash used in financing activities	(164,913)		(176,885)		(190,196)
Net decrease in cash	(1,806)		(2,086)		(3,914)
Cash at beginning of year	4,073		6,159		10,073
Cash at end of year	$	2,267	$	4,073	$	6,159

Supplemental Disclosure of Cash Flow Information
Interest payments	$	(17,196)	$	(28,574)	$	(13,595)

See accompanying supplementary notes to Parent Company condensed

financial information and the consolidated financial statements and notes thereto.

Schedule II—Condensed Financial Information of Registrant

Parent Company Only

Supplementary Notes

Note A

The accompanying Parent Company financial statements should be read in conjunction with the consolidated financial statements and notes to consolidated financial statements. These financial statements have been prepared on the same basis and using the same accounting policies as described in the consolidated financial statements included herein, except that the Parent Company uses the equity method of accounting for its majority-owned subsidiaries.

Note B

Under the insurance laws of the Commonwealth of Pennsylvania, insurance subsidiaries may pay dividends during any 12-month period in an amount equal to the greater of (i) 10% of the preceding year-end statutory policyholders' surplus or (ii) the preceding year's statutory net income. The Pennsylvania statute also requires that dividends and other distributions be paid out of positive unassigned surplus without prior approval. As of December 31, 2024, Essent Guaranty had unassigned surplus of approximately $396.6 million. As of January 1, 2025, Essent Guaranty has dividend capacity of $396.6 million.

During the years ended December 31, 2024 and 2023, the Parent Company received dividends from Essent Re totaling $300 million and $60.0 million, respectively. As of January 1, 2025, Essent Re has dividend capacity of $441.9 million. During the year ended December 31, 2022, the Parent Company did not receive any dividends from its subsidiaries.

Schedule II - Condensed Financial Information of Registrant - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Total investments available for sale	$ 5,876,721	$ 5,263,739
Other invested assets	303,900	277,226
Cash	131,480	141,787
Other assets	79,572	51,051
Total assets	7,111,649	6,426,673
Liabilities
Senior notes due 2029, net	493,959	0
Credit facility borrowings, net	0	421,920
Other accrued liabilities	176,755	139,070
Total liabilities	1,507,991	1,324,123
Commitments and contingencies
Stockholders' Equity
Common shares	1,575	1,599
Additional paid-in capital	1,214,956	1,299,869
Accumulated other comprehensive loss	(303,984)	(280,496)
Retained earnings	4,691,111	4,081,578
Total stockholders' equity	5,603,658	5,102,550	$ 4,462,309
Total liabilities and stockholders' equity	7,111,649	6,426,673
Amortized Cost	6,231,018	5,586,730
Fixed maturities
Assets
Total investments available for sale	5,112,697	4,335,008
Stockholders' Equity
Amortized Cost	5,467,238	4,658,168
Short-term investments
Assets
Total investments available for sale	764,024	928,731
Stockholders' Equity
Amortized Cost	763,780	928,562
Parent Company
Assets
Total investments available for sale	309,842	168,550
Other invested assets	0	2,166
Cash	2,267	4,073
Due from affiliates	2,517	1,487
Investment in consolidated subsidiaries	5,792,965	5,346,888
Other assets	6,631	4,283
Total assets	6,114,222	5,527,447
Liabilities
Due to affiliates	0	415
Senior notes due 2029, net	493,959
Credit facility borrowings, net	0	421,920
Other accrued liabilities	16,605	2,562
Total liabilities	510,564	424,897
Commitments and contingencies
Stockholders' Equity
Common shares	1,575	1,599
Additional paid-in capital	1,214,956	1,299,869
Accumulated other comprehensive loss	(303,984)	(280,496)
Retained earnings	4,691,111	4,081,578
Total stockholders' equity	5,603,658	5,102,550
Total liabilities and stockholders' equity	6,114,222	5,527,447
Parent Company \| Fixed maturities
Assets
Total investments available for sale	151,600	86,558
Stockholders' Equity
Amortized Cost	158,953	94,221
Parent Company \| Short-term investments
Assets
Total investments available for sale	158,242	81,992
Stockholders' Equity
Amortized Cost	$ 158,242	$ 81,993

Statutory Accounting - Schedule of Statutory Net Income, Statutory Surplus and Contingency Reserve Liability (Details) - Affiliated Entity - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Essent Guaranty
Dividends Restrictions
Statutory net income	$ 495,516	$ 431,266	$ 590,505
Statutory surplus	1,101,894	1,004,104	1,020,034
Contingency reserve liability	$ 2,492,487	2,265,713	2,048,740
Essent PA
Dividends Restrictions
Statutory net income		(3,055)	859
Statutory surplus		54,044	52,609
Contingency reserve liability		$ 52,244	$ 56,744

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Balances by Type of Long-Lived Assets

The balances by type were as follows at December 31:


	2024				2023
(In thousands)	Cost		Accumulated Depreciation/ Amortization		Cost		Accumulated Depreciation/ Amortization
Furniture and fixtures	$	5,715	$	(3,054)	$	4,244	$	(2,463)
Office equipment	2,094		(1,327)		1,672		(982)
Computer hardware	12,202		(11,873)		12,556		(11,273)
Purchased software	38,028		(37,111)		40,266		(39,271)
Costs of internal-use software	13,785		(13,418)		13,785		(12,593)
Leasehold improvements	12,305		(5,487)		7,708		(4,586)
Total	$	84,129	$	(72,270)	$	80,231	$	(71,168)

Schedule of Rollforward of Goodwill

The following table shows the rollforward of goodwill for the years ended December 31, 2024 and 2023:


	Year Ended December 31,
(In thousands)	2024		2023
Beginning Balance	$	50,008	$	—
Goodwill resulting from acquisitions	—		38,331
Measurement period adjustments	(1,247)		11,677
Impairment charges	—		—
Ending Balance	$	48,761	$	50,008

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Earnings per Share (EPS) - Schedule of Reconciliation of Net Income and Weighted Average Common Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income	$ 729,403	$ 696,386	$ 831,353
Basic weighted average shares outstanding (in shares)	105,394	106,222	107,205
Dilutive effect of nonvested shares (in shares)	1,156	907	448
Diluted weighted average shares outstanding (in shares)	106,550	107,129	107,653
Basic earnings per share (in dollars per share)	$ 6.92	$ 6.56	$ 7.75
Diluted earnings per share (in dollars per share)	$ 6.85	$ 6.50	$ 7.72

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net income	$ 729,403	$ 696,386	$ 831,353
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment losses (gains), net	2,350	7,204	13,172
(Income) loss from other invested assets	(7,375)	11,118	(28,676)
Distribution of income from other invested assets	13,843	7,440	14,105
Depreciation and amortization	5,783	4,525	3,024
Stock-based compensation expense	24,778	18,446	18,381
Amortization of premium on investment securities	20,231	14,899	18,347
Deferred income tax provision (benefit)	32,174	(13,246)	58,168
Change in:
Accrued investment income	(8,043)	(2,527)	(6,616)
Accounts receivable	7,466	(2,070)	(11,211)
Deferred policy acquisition costs	(515)	771	2,268
Prepaid federal income tax	(18,954)	(52,186)	(57,650)
Other assets	(18,653)	62,976	(50,333)
Reserve for losses and LAE	68,772	29,017	(190,981)
Unearned premium reserve	(24,302)	(22,624)	(22,498)
Other accrued liabilities	34,574	2,872	(2,036)
Net cash provided by operating activities	861,532	763,001	588,817
Investing Activities
Net change in short-term investments	164,707	(655,596)	61,060
Purchase of investments available for sale	(1,648,433)	(1,116,120)	(1,378,231)
Proceeds from maturities and paydowns of investments available for sale	411,635	664,239	247,296
Proceeds from sales of investments available for sale	415,074	707,544	747,883
Purchase of other invested assets	(39,062)	(40,038)	(74,620)
Return of investment from other invested assets	5,919	5,165	1,721
Net cash paid in acquisition	0	(86,761)	0
Purchase of intangible assets	(10,000)	0	0
Purchase of property and equipment	(6,766)	(4,002)	(3,981)
Net cash used in investing activities	(706,926)	(525,569)	(398,872)
Financing Activities
Issuance of senior notes	498,160	0	0
Credit facility repayments	(425,000)	0	0
Treasury stock acquired	(111,543)	(70,670)	(97,914)
Payment of debt issuance costs	(8,488)	0	(154)
Dividends paid	(118,042)	(106,215)	(92,128)
Net cash used in financing activities	(164,913)	(176,885)	(190,196)
Net (decrease) increase in cash	(10,307)	60,547	(251)
Cash at beginning of year	141,787	81,240	81,491
Cash at end of year	131,480	141,787	81,240
Supplemental Disclosure of Cash Flow Information
Income tax payments	(92,517)	(139,710)	(98,006)
Interest payments	(17,196)	(28,574)	(13,595)
Noncash Transactions
Operating lease liabilities arising from obtaining right-of-use assets	$ 2,066	$ 23,705	$ 10,035

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of income tax expense
Current	$ 93,914	$ 139,859	$ 98,666
Deferred	32,174	(13,246)	58,168
Total income tax expense	126,088	126,613	156,834
Effective Income Tax Rate Reconciliation, Amount
Tax provision at weighted average statutory rates	121,227	116,389	148,176
State taxes, net of federal benefit	4,478	4,872	6,306
Non-deductible expenses	3,542	4,501	4,041
Tax exempt interest, net of proration	(1,357)	(1,551)	(1,463)
Excess tax (benefit) deficit from stock-based compensation	(668)	145	75
Other	(1,134)	2,257	(301)
Total income tax expense	$ 126,088	$ 126,613	$ 156,834
% of pretax income
Tax provision at weighted average statutory rates	14.20%	14.10%	15.00%
State taxes, net of federal benefit	0.50%	0.60%	0.60%
Non-deductible expenses	0.40%	0.50%	0.40%
Tax exempt interest, net of proration	(0.20%)	(0.20%)	(0.10%)
Excess tax (benefit) deficit from stock-based compensation	(0.10%)	0.00%	0.00%
Other	(0.10%)	0.40%	0.00%
Total income tax expense	14.70%	15.40%	15.90%

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Capital Stock

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Capital Stock

Our authorized share capital consists of 233.3 million shares of a single class of common shares. The common shares have no pre-emptive rights or other rights to subscribe for additional shares, and no rights of redemption, conversion or exchange. Under certain circumstances and subject to the provisions of Bermuda law and our bye-laws, we may be required to make an offer to repurchase shares held by members. The common shares rank pari-passu with one another in all respects as to rights of payment and distribution. In general, holders of common shares will have one vote for each common share held by them and will be entitled to vote, on a non-cumulative basis, at all meetings of shareholders. In the event that a shareholder is considered a 9.5% Shareholder under our bye-laws, such shareholder's votes will be reduced by whatever amount is necessary so that after any such reduction the votes of such shareholder will not result in any other person being treated as a 9.5% Shareholder with respect to the vote on such matter. Under these provisions certain shareholders may have their voting rights limited to less than one vote per share, while other shareholders may have voting rights in excess of one vote per share.

Dividends

The following table presents the amounts declared and paid per common share each quarter:


Quarter Ended	2024		2023		2022
March 31	$	0.28	$	0.25	$	0.20
June 30	0.28		0.25		0.21
September 30	0.28		0.25		0.22
December 31	0.28		0.25		0.23
Total dividends per common share declared and paid	$	1.12	$	1.00	$	0.86

In February 2025, the Board of Directors declared a quarterly cash dividend of $0.31 per common share payable on March 24, 2025, to shareholders of record on March 14, 2025.

Share Repurchase Plan

During the year ended December 31, 2022, the Company repurchased 2,136,961 common shares at a cost of $92.2 million, completing the $250 million share repurchase plan approved by the Board of Directors in May 2021. In May 2022, the Board of Directors approved a new share repurchase plan that authorized the Company to repurchase up to $250 million of its common shares in the open market by the end of 2023. The Company made no share repurchases under the 2022 plan during the year ended December 31, 2022 and repurchased 1,535,368 common shares at a cost of $65.6 million in the year ended December 31, 2023. In October 2023, the Board of Directors approved a share repurchase plan that authorizes the Company to repurchase $250 million of common shares in the open market between January 1, 2024 and December 31, 2025. During the year ended December 31, 2024, the Company repurchased 1,859,695 common shares at a cost of $102.7 million. The shares repurchased were recorded at cost and included in treasury stock. All treasury stock has been cancelled as of December 31, 2024 and 2023. In February 2025, the Board of Directors approved a share repurchase plan that authorizes the Company to repurchase an additional $500 million of common shares in the open market through December 31, 2026.

- Definition

The entire disclosure for equity.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

In 2013, Essent Group's Board of Directors adopted, and Essent Group's shareholders approved, the Essent Group Ltd. 2013 Long-Term Incentive Plan (the "2013 Plan"), which was effective upon completion of the initial public offering. The types of awards available under the 2013 Plan include nonvested shares, nonvested share units, non-qualified share options, incentive stock options, share appreciation rights, and other share-based or cash-based awards. Nonvested shares and nonvested share units granted under the 2013 Plan have rights to dividends, which entitle the holders to the same dividend value per share as holders of common shares in the form of dividend equivalent units ("DEUs"). DEUs are subject to the same vesting and other terms and conditions as the corresponding nonvested shares and nonvested share units. DEUs vest when the underlying shares or share units vest and are forfeited if the underlying share or share units forfeit prior to vesting. The maximum number of shares and share units available for issuance is 7.5 million under the 2013 Plan. As of December 31, 2024, there were 3.3 million common shares available for future grant under the 2013 Plan.

In February of each year, 2018 through 2020, certain members of senior management were granted nonvested common shares under the 2013 Plan that were subject to time-based and performance-based vesting. The time-based share awards vest in three equal yearly installments commencing on March 1 of the year following the grant year. The performance-based share awards vest based upon our compounded annual book value per share growth percentage during a three-year performance period that commences on January 1 of the grant year and vest on March 1 following the end of the performance period.

The portion of the nonvested performance-based share awards that will be earned based upon the achievement of compounded annual book value per share growth is as follows:


	2020 Performance-Based Grants				2019 Performance-Based Grants
Performance level	Compounded Annual Book Value Per Share Growth		Nonvested Common Shares Earned		Compounded Annual Book Value Per Share Growth		Nonvested Common Shares Earned
	<13	%	0	%	<14	%	0	%
Threshold	13	%	10	%	14	%	10	%
	14	%	35	%	15	%	35	%
	15	%	60	%	16	%	60	%
	16	%	85	%	17	%	85	%
Maximum	≥17	%	100	%	≥18	%	100	%

In the event that the compounded annual book value per share growth falls between the performance levels shown above, the nonvested common shares earned will be determined on a straight-line basis between the respective levels shown. The compounded annual book value per share growth for each of the 2019 and 2020 performance-based grants exceeded the maximum performance level and have vested at 100%.

In each the years 2021 through 2024, certain members of senior management were granted nonvested common shares and units under the 2013 Plan that were subject to time-based and performance-based vesting. The time-based share awards and units granted vest in three equal installments commencing on March 1 of the year following the grant year. The performance-based share awards and units granted vest based upon our compounded annual book value per share growth percentage and relative total shareholder return during a three-year performance period that commenced on January 1, 2021, 2022, 2023 and 2024, respectively and vest(ed) on March 1, 2024, 2025, 2026 and 2027, respectively. Shares and units were issued at the maximum 200% of target. The portion of these nonvested performance-based share awards and units that will be earned is as follows:


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2021 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	14% "Target"	100%	150%	200%
	12%	75%	125%	175%
	10%	50%	100%	150%
	8%	25%	75%	125%
	6%	0%	50%	100%


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2022 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	13% "Target"	100%	150%	200%
	11%	75%	125%	175%
	9%	50%	100%	150%
	7%	25%	75%	125%
	5%	0%	50%	100%


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2023 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	10% "Target"	100%	150%	200%
	9%	75%	125%	175%
	8%	50%	100%	150%
	6%	25%	75%	125%
	5%	0%	50%	100%


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2024 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	12% "Target"	100%	150%	200%
	11%	75%	125%	175%
	10%	50%	100%	150%
	8%	25%	75%	125%
	7%	0%	50%	100%

Certain time-and-performance based share awards and units granted in 2022 and subsequent periods include retirement provisions under which the service requirements are considered satisfied when the employee with a required minimum years of continuous service reaches the eligible retirement age. Under these provisions, stock-based compensation is expensed from the grant date through the date that the employee will satisfy these conditions.

In the event that the compounded annual book value per share growth or the relative total shareholder return falls between the performance levels shown above for the 2024, 2023, 2022 or 2021 performance-based share awards, the nonvested common shares earned will be determined on a straight-line basis between the respective levels shown.

Quoted market prices are used for the valuation of common shares granted that do not contain a market condition under ASC 718. The performance-based share awards granted in 2024, 2023, 2022 and 2021 contain a market condition and were valued based on analysis provided by a third-party valuation firm using a risk neutral simulation taking into effect the vesting conditions of the grant.

In February 2021, the performance-based share awards granted in 2019 and 2020 to certain members of senior management were amended to provide that such awards will no longer be subject to the achievement of the compounded annual book value per share growth metrics and will be subject to only service-based vesting. As a result, the unvested shares subject to the amended 2019 and 2020 awards vested on March 1, 2022 and March 1, 2023, respectively, subject to the continued service requirements and other terms and conditions set forth in the applicable award agreements, without taking into consideration any performance metrics. Total incremental compensation expense related to amending these awards was $4.0 million.

In January 2020, time-based share units were issued to all vice president and staff level employees that vested in three equal installments in January 2021, 2022 and 2023. In January 2023, time-based share units were issued to all vice president and staff level employees that vested in three equal installments in January 2024, 2025 and 2026. In February 2024, nonvested common share units were issued to certain vice president and staff level employees and are subject to time-based vesting in two equal installments on January 6, 2025 and 2026. Also in February 2024, time-based share units were granted to certain vice president and staff level employees that vest in three equal installments on March 1, 2027, 2028 and 2029.

In connection with our incentive program covering bonus awards for performance years 2019 through 2023, in February following each performance year, time-based share units were issued to certain employees that vest in three equal yearly installments commencing on March 1 of the year following the grant year.

In May of each year, 2021 through 2024, time-based share units were granted to non-employee directors that vest one year from the date of grant.

The following tables summarize nonvested common share, nonvested common share unit and DEU activity for the year ended December 31:


	2024
	Time and Performance- Based Share Awards			Time-Based Share Awards			Time and Performance-Based Share Units			Time-Based Share Units			DEUs
(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Dividend Equivalent Units	Weighted Average Grant Date Fair Value
Outstanding at beginning of year	844	$	14.29	149	$	44.40	24	$	13.23	700	$	42.46	57	$	44.00
Granted	244	21.84		53	53.87		43	22.46		307	53.40		36	57.91
Vested	(167)	15.64		(75)	44.50		—	—		(209)	41.50		(20)	44.01
Forfeited	(84)	15.64		—	—		—	—		(35)	48.20		(6)	44.35
Outstanding at end of year	837	$	16.09	127	$	48.27	67	$	19.15	763	$	46.88	67	$	51.25


	2023
	Time and Performance- Based Share Awards			Time-Based Share Awards			Time and Performance-Based Share Units			Time-Based Share Units			DEUs
(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Dividend Equivalent Units	Weighted Average Grant Date Fair Value
Outstanding at beginning of year	647	$	20.99	138	$	45.94	5	$	15.35	345	$	45.95	37	$	40.86
Granted	300	12.66		75	43.51		19	12.66		548	41.78		37	40.55
Vested	(103)	51.52		(64)	46.65		—	—		(177)	47.43		(16)	40.38
Forfeited	—	—		—	—		—	—		(16)	39.12		(1)	42.13
Outstanding at end of year	844	$	14.29	149	$	44.40	24	$	13.23	700	$	42.46	57	$	44.00


	2022
	Time and Performance- Based Share Awards			Time-Based Share Awards			Time and Performance-Based Share Units			Time-Based Share Units			DEUs
(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Dividend Equivalent Units	Weighted Average Grant Date Fair Value
Outstanding at beginning of year	500	$	31.29	140	$	45.31	—	$	—	461	$	47.94	28	$	41.75
Granted	308	14.83		87	46.15		10	15.35		151	44.34		25	40.28
Vested	(139)	45.32		(86)	45.07		—	—		(192)	47.53		(14)	41.29
Forfeited	(22)	15.45		(3)	46.91		(5)	15.35		(75)	50.85		(2)	42.70
Outstanding at end of year	647	$	20.99	138	$	45.94	5	$	15.35	345	$	45.95	37	$	40.86

The total fair value of nonvested shares, share units or DEUs that vested was $25.4 million, $15.3 million and $18.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, there was $26.1

million of total unrecognized compensation expense related to nonvested shares or share units outstanding at December 31, 2024 and we expect to recognize the expense over a weighted average period of 2.4.

In connection with our incentive program covering bonus awards for performance year 2024, in February 2025, 61,404 nonvested common share units were issued to certain employees and are subject to time-based vesting. In February 2025, 289,033 nonvested common shares and 79,192 nonvested common share units were granted to certain members of senior management and are subject to time-based and performance-based vesting.

Employees have the option to tender shares to Essent Group to pay the minimum employee statutory withholding taxes associated with shares upon vesting. Common shares tendered by employees to pay employee withholding taxes totaled 163,812, 119,334 and 133,011 in 2024, 2023 and 2022, respectively. The tendered shares were recorded at cost and included in treasury stock. All treasury stock has been cancelled as of December 31, 2024 and 2023.

Compensation expense, net of forfeitures, and related tax effects recognized in connection with nonvested shares and share units were as follows for the years ended December 31:


(In thousands)	2024		2023		2022
Compensation expense	$	24,778	$	18,446	$	18,381
Income tax benefit	4,948		3,660		3,636

Reserve for Losses and Loss Adjustment Expenses - Schedule of Average Annual Payout of Losses (Details) - Property Insurance Product Line	Dec. 31, 2024
Average Annual Percentage Payout of Incurred Losses and Allocated LAE by Year
Year 1	10.00%
Year 2	42.00%
Year 3	28.00%
Year 4	10.00%
Year 5	7.00%
Year 6	2.00%
Year 7	1.00%
Year 8	0.00%
Year 9	0.00%
Year 10	0.00%

Reserve for Losses and Loss Adjustment Expenses - Schedule of Reconciliation of Reserve Balances for Losses and Loss Adjustment Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses (LAE)
Reserve for losses and LAE at beginning of year	$ 260,095	$ 216,464	$ 407,445
Less: Reinsurance recoverables	36,754	24,104	14,618	$ 25,940
Net reserve for losses and LAE at beginning of year	235,991	201,846	381,505
Net reserves acquired during the period	0	14,049	0
Add provision for losses and LAE, net of reinsurance, occurring in:
Current year	177,037	141,191	99,372
Prior years	(95,817)	(109,649)	(274,076)
Net incurred losses and LAE during the current year	81,220	31,542	(174,704)
Deduct payments for losses and LAE, net of reinsurance, occurring in:
Current year	3,356	694	224
Prior years	21,743	10,752	4,731
Net loss and LAE payments during the current year	25,099	11,446	4,955
Net reserve for losses and LAE at end of year	292,112	235,991	201,846
Plus: Reinsurance recoverables	36,754	24,104	14,618	$ 25,940
Reserve for losses and LAE at end of year	$ 328,866	$ 260,095	$ 216,464

Reserve for Losses and Loss Adjustment Expenses - Schedule of Incurred Losses and Allocated Loss Adjustment Expense (Details) $ in Thousands	Dec. 31, 2024 USD ($) loan	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	$ 366,560
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	93,045
All outstanding liabilities before 2015, net of reinsurance	0
Reserve for losses and LAE, net of reinsurance	273,552
Reinsurance recoverables on unpaid claims	36,655
Total gross reserve for losses and LAE	310,207
Title insurance reserves	18,700
2015 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	8,435	$ 8,435	$ 8,434	$ 8,410	$ 8,323	$ 8,461	$ 8,439	$ 8,893	$ 9,625	$ 14,956
Total of IBNR plus Expected Development on Reported Defaults	$ 7
Cumulative Number of Reported Defaults \| loan	124
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 8,337	8,337	8,335	8,226	8,055	7,961	7,535	6,960	3,610	$ 544
2016 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	8,643	8,709	8,861	8,614	8,972	9,219	9,455	11,890	21,889
Total of IBNR plus Expected Development on Reported Defaults	$ 8
Cumulative Number of Reported Defaults \| loan	264
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 8,540	8,542	8,468	8,205	8,270	7,864	6,947	4,896	$ 927
2017 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	11,101	11,196	11,550	11,249	11,488	12,202	16,261	38,178
Total of IBNR plus Expected Development on Reported Defaults	$ 28
Cumulative Number of Reported Defaults \| loan	362
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 10,705	10,704	10,620	10,536	10,257	9,156	5,370	$ 633
2018 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	15,895	16,535	17,249	17,402	19,536	23,168	36,438
Total of IBNR plus Expected Development on Reported Defaults	$ 64
Cumulative Number of Reported Defaults \| loan	511
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 14,971	14,781	14,536	13,927	13,406	8,067	$ 1,310
2019 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	17,395	19,455	24,223	23,649	39,085	50,562
Total of IBNR plus Expected Development on Reported Defaults	$ 153
Cumulative Number of Reported Defaults \| loan	689
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 15,183	14,064	12,392	10,717	8,049	$ 1,288
2020 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	15,561	23,297	53,045	269,410	317,516
Total of IBNR plus Expected Development on Reported Defaults	$ 405
Cumulative Number of Reported Defaults \| loan	696
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 9,875	6,921	4,022	2,499	$ 1,018
2021 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	9,485	16,567	38,551	97,256
Total of IBNR plus Expected Development on Reported Defaults	$ 357
Cumulative Number of Reported Defaults \| loan	445
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 4,740	2,916	856	$ 388
2022 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	29,158	48,593	99,372
Total of IBNR plus Expected Development on Reported Defaults	$ 1,535
Cumulative Number of Reported Defaults \| loan	627
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 8,633	3,209	$ 224
2023 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	78,940	138,617
Total of IBNR plus Expected Development on Reported Defaults	$ 5,476
Cumulative Number of Reported Defaults \| loan	2,085
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 9,375	$ 517
2024 \| Property Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Incurred Loss and Allocated LAE, For the Years Ended December 31,	171,947
Total of IBNR plus Expected Development on Reported Defaults	$ 13,413
Cumulative Number of Reported Defaults \| loan	15,647
Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,	$ 2,686

Schedule IV - Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Gross Amount	$ 1,122,905	$ 1,051,405	$ 950,200
Ceded to Other Companies	(132,023)	(134,499)	(107,673)
Assumed from Other Companies	0	0	0
Net premiums earned	$ 990,882	$ 916,906	$ 842,527
Assumed Premiums as a Percentage of Net Premiums	0.00%	0.00%	0.00%

Earnings per Share (EPS)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings per Share (EPS)


(In thousands, except per share amounts)	2024		2023		2022
Net income	$	729,403	$	696,386	$	831,353

Basic weighted average shares outstanding	105,394		106,222		107,205
Dilutive effect of nonvested shares	1,156		907		448
Diluted weighted average shares outstanding	106,550		107,129		107,653

Basic earnings per share	$	6.92	$	6.56	$	7.75
Diluted earnings per share	$	6.85	$	6.50	$	7.72

There were 51,776, 48,087 and 77,759 antidilutive shares for the years ended December 31, 2024, 2023 and 2022, respectively.


	2024 Performance-Based Grants		2023 Performance-Based Grants		2022 Performance-Based Grants		2021 Performance-Based Grants
As of December 31,	Percent Issuable Relative to Target	As a Percent of Shares Issued	Percent Issuable Relative to Target	As a Percent of Shares Issued	Percent Issuable Relative to Target	As a Percent of Shares Issued	Percent Issuable Relative to Target	As a Percent of Shares Issued
2024	100%	50%	174%	87%	168%	84%	(1)	(1)
2023			200%	100%	200%	100%	133%	66%
2022					131%	66%	100%	50%

(1) The 2021 performance based awards vested at 133% relative to target on March 1, 2024.

Reserve for Losses and Loss Adjustment Expenses

12 Months Ended

Dec. 31, 2024

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Reserve for Losses and Loss Adjustment Expenses

The following table provides a reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses ("LAE") for the years ended December 31:


(In thousands)	2024		2023		2022
Reserve for losses and LAE at beginning of year	$	260,095	$	216,464	$	407,445
Less: Reinsurance recoverables	24,104		14,618		25,940
Net reserve for losses and LAE at beginning of year	235,991		201,846		381,505
Net reserves acquired during the period	—		14,049		—
Add provision for losses and LAE, net of reinsurance, occurring in:
Current year	177,037		141,191		99,372
Prior years	(95,817)		(109,649)		(274,076)
Net incurred losses and LAE during the current year	81,220		31,542		(174,704)
Deduct payments for losses and LAE, net of reinsurance, occurring in:
Current year	3,356		694		224
Prior years	21,743		10,752		4,731
Net loss and LAE payments during the current year	25,099		11,446		4,955
Net reserve for losses and LAE at end of year	292,112		235,991		201,846
Plus: Reinsurance recoverables	36,754		24,104		14,618
Reserve for losses and LAE at end of year	$	328,866	$	260,095	$	216,464

For the year ended December 31, 2024, $21.7 million was paid for incurred claims and claim adjustment expenses attributable to insured events of prior years. There has been a $95.8 million favorable prior year development during the year ended December 31, 2024. Reserves remaining as of December 31, 2024 for prior years are $118.4 million as a result of re-estimation of unpaid losses and loss adjustment expenses. For the year ended December 31, 2023, $10.8 million was paid for incurred claims and claim adjustment expenses attributable to insured events of prior years. There was a $109.6 million favorable prior year development during the year ended December 31, 2023. Reserves remaining as of December 31, 2023 for

prior years were $81.4 million as a result of re-estimation of unpaid losses and loss adjustment expenses. In both periods, the favorable prior years' loss development was the result of a re-estimation of amounts ultimately to be paid on prior year defaults in the default inventory, including the impact of previously identified defaults that cured. Original estimates are increased or decreased as additional information becomes known regarding individual claims. During the year ended December 31 2023, we acquired $14.0 million of reserves, excluding $0.1 million of reinsurance recoverables, in connection with the acquisition of our title insurance operations.

Due to business restrictions, stay-at-home orders and travel restrictions initially implemented in March 2020 as a result of COVID-19, unemployment in the United States increased significantly in the second quarter of 2020, declining during the second half of 2020 and through 2022. As unemployment is one of the most common reasons for borrowers to default on their mortgage, the increase in unemployment has increased the number of delinquencies on the mortgages that we insure and has the potential to increase claim frequencies on defaults.

In response to the COVID-19 pandemic, the United States government enacted a number of policies to provide fiscal stimulus to the economy and relief to those affected by this global disaster. Specifically, mortgage forbearance programs and foreclosure moratoriums were instituted by Federal legislation along with actions taken by the Federal Housing Finance Agency (“FHFA”), Fannie Mae and Freddie Mac (collectively the “GSEs”). The mortgage forbearance plans provide for eligible homeowners who were adversely impacted by COVID-19 to temporarily reduce or suspend their mortgage payments for up to 18 months for loans in an active COVID-19-related forbearance program as of February 28, 2021. For borrowers that have the ability to begin to pay their mortgage at the end of the forbearance period, we expect that mortgage servicers will work with them to modify their loans at which time the mortgage will be removed from delinquency status.

Based on the fiscal stimulus, forbearance programs and the foreclosure moratoriums put in place and the credit characteristics of the defaulted loans, we expected the ultimate number of Early COVID Defaults that result in claims would be less than our historical default-to-claim experience. Accordingly, we recorded a reserve equal to approximately 7% of the initial risk in force for the Early COVID Defaults. The reserve for the Early COVID Defaults had not been adjusted as of December 31, 2021. As of March 31, 2022, the defaulted loans reported to us in the second and third quarters of 2020 had reached the end of their forbearance periods. During the first quarter of 2022, the Early COVID Defaults cured at elevated levels, and the cumulative cure rate for the Early COVID Defaults at March 31, 2022 exceeded our initial estimated cure rate implied by our 7% estimate of ultimate loss for these defaults. Based on cure activity through March 31, 2022 and our expectations for future cure activity, we lowered our estimate of ultimate loss for the Early COVID Defaults from 7% to 4% of the initial risk in force. During the three months ended June 30, 2022, Early COVID Defaults cured at levels that exceeded our estimate as of March 31, 2022, and we further lowered our estimate of loss for these defaults as of June 30, 2022 to 2% of the initial risk in force. These revisions to our estimate of ultimate loss for the Early COVID Defaults resulted in a benefit recorded to the provision for losses of $164.1 million for the year ended December 31, 2022. Due to the level of Early COVID Defaults remaining in the default inventory, during the third quarter of 2022, we resumed reserving for the Early COVID Defaults using our normal reserve methodology. The transition of defaults to foreclosure or claim has not returned to pre-pandemic levels. As a result, the level of defaults in the default inventory that have missed twelve or more payments is above pre-pandemic levels.

On September 26, 2024, Hurricane Helene made landfall and caused property damage in certain counties in Florida, Georgia, South Carolina, North Carolina, Tennessee and Virginia. On October 9, 2024, Hurricane Milton made landfall, causing damage in certain counties in Florida. Loans in default increased by 3,620 in the year ended December 31, 2024, including 2,119 defaults we identified as hurricane-related defaults. Based on prior industry experience, we expect the ultimate number of hurricane-related defaults that result in claims will be less than the default-to-claim experience of non-hurricane-related defaults. In addition, under our master policy, our exposure may be limited on hurricane-related claims. For example, we are permitted to exclude a claim entirely where damage to the property underlying a mortgage was the proximate cause of the default and adjust a claim where the property underlying a mortgage in default is subject to unrestored physical damage. Accordingly, when establishing our loss reserves as of December 31, 2024, we applied a lower estimated claim rate to new default notices received in the fourth quarter of 2024 from the affected areas than the claim rate we apply to other notices in our default inventory. The impact on our reserves in future periods will be dependent upon the performance of the hurricane-related defaults and our expectations for the amount of ultimate losses on these delinquencies.

In January 2025, several wildfires caused property damage in Southern California. As of January 31, 2025, our insurance in force in areas with Federal Emergency Management Agency ("FEMA") disaster declarations due to these wildfires was less than 0.1% of our total insurance in force. These wildfires have not affected our reserves as of December 31, 2024.

The Federal Reserve has increased the target federal funds rate several times during 2022 and 2023 in an effort to reduce consumer price inflation. As a result of progress on inflation, the Federal Reserve reduced the target federal funds rate by 100

basis points since September 2024. Mortgage interest rates remain elevated which has reduced home sale activity and may affect the options available to delinquent borrowers. It is reasonably possible that our estimate of losses could change in the near term as a result of changes in the economic environment, the impact of elevated mortgage interest rates on home sale activity, housing inventory and home prices.


	Incurred Loss and Allocated LAE, For the Years Ended December 31,																				As of December 31, 2024
(In thousands)																					Total of IBNR plus Expected Development on Reported Defaults		Cumulative Number of Reported Defaults (1)
	Unaudited
Accident Year	2015		2016		2017		2018		2019		2020		2021		2022		2023		2024
2015	$	14,956	$	9,625	$	8,893	$	8,439	$	8,461	$	8,323	$	8,410	$	8,434	$	8,435	$	8,435	$	7	124
2016			21,889		11,890		9,455		9,219		8,972		8,614		8,861		8,709		8,643		8		264
2017					38,178		16,261		12,202		11,488		11,249		11,550		11,196		11,101		28		362
2018							36,438		23,168		19,536		17,402		17,249		16,535		15,895		64		511
2019									50,562		39,085		23,649		24,223		19,455		17,395		153		689
2020											317,516		269,410		53,045		23,297		15,561		405		696
2021													97,256		38,551		16,567		9,485		357		445
2022															99,372		48,593		29,158		1,535		627
2023																	138,617		78,940		5,476		2,085
2024																			171,947		13,413		15,647
Total																			$	366,560

(1) Cumulative number of reported defaults includes cumulative paid claims plus loans in default by accident year as of December 31, 2024.


(In thousands)	Cumulative Paid Losses and Allocated LAE For the Years Ended December 31,
	Unaudited
Accident Year	2015		2016		2017		2018		2019		2020		2021		2022		2023		2024
2015	$	544	$	3,610	$	6,960	$	7,535	$	7,961	$	8,055	$	8,226	$	8,335	$	8,337	$	8,337
2016			927		4,896		6,947		7,864		8,270		8,205		8,468		8,542		8,540
2017					633		5,370		9,156		10,257		10,536		10,620		10,704		10,705
2018							1,310		8,067		13,406		13,927		14,536		14,781		14,971
2019									1,288		8,049		10,717		12,392		14,064		15,183
2020											1,018		2,499		4,022		6,921		9,875
2021													388		856		2,916		4,740
2022															224		3,209		8,633
2023																	517		9,375
2024																			2,686
Total																			$	93,045
All outstanding liabilities before 2015, net of reinsurance																			—
Reserve for losses and LAE, net of reinsurance																			$	273,552

The following table provides a reconciliation of the net incurred losses and paid claims development tables above to the mortgage insurance reserve for losses and LAE at December 31, 2024:


(In thousands)	December 31, 2024
Reserve for losses and LAE, net of reinsurance	$	273,552
Reinsurance recoverables on unpaid claims	36,655
Total gross reserve for losses and LAE	$	310,207

The above table excludes title insurance reserves as of December 31, 2024, which were $18.7 million.

For our mortgage insurance portfolio, our average annual payout of losses as of December 31, 2024 is as follows:


Average Annual Percentage Payout of Incurred Losses and Allocated LAE by Year
Year	1		2		3		4		5		6		7		8		9		10

Average Payout	10	%	42	%	28	%	10	%	7	%	2	%	1	%	0	%	0	%	0	%

Stock-Based Compensation - Schedule of Compensation Expense, Net of Forfeitures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Compensation expense	$ 24,778	$ 18,446	$ 18,381
Income tax benefit	$ 4,948	$ 3,660	$ 3,636

Nature of Operations and Basis of Presentation (Details)				12 Months Ended
	Jan. 01, 2021	Dec. 31, 2020	Mar. 31, 2019	Dec. 31, 2024 state segment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of reportable segments \| segment				1
Affiliated Entity \| Essent Guaranty
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of states in which the entity is licensed to write mortgage insurance \| state				50
Affiliated Entity \| Essent Re \| Quota share reinsurance
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reinsurance percentage	35.00%	25.00%
Affiliated Entity \| Essent PA \| Reinsurance for mortgage insurance coverage in excess of 25%
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reinsurance for mortgage insurance coverage threshold (in excess of)			25.00%
Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Residential mortgage down payment percentage for which mortgage insurance is generally required (less than)				20.00%

Capital Stock - Schedule of Dividends (Details) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Quarterly cash dividends paid (in dollars per share)	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.23	$ 0.22	$ 0.21	$ 0.20	$ 1.12	$ 1.00	$ 0.86
Quarterly cash dividends declared (in dollars per share)	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.23	$ 0.22	$ 0.21	$ 0.20	$ 1.12	$ 1.00	$ 0.86

Summary of Significant Accounting Policies - Rollforward of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 50,008	$ 0
Goodwill resulting from acquisitions	0	38,331
Measurement period adjustments	(1,247)	11,677
Impairment charges	0	0
Goodwill, ending balance	48,761	50,008
Title plants	10,000	0
Customer Relationships
Goodwill [Roll Forward]
Gross carrying amount	23,500	22,900
Accumulated amortization	$ 2,100	$ 700

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Reinsurance

12 Months Ended

Dec. 31, 2024

Reinsurance Disclosures [Abstract]

Reinsurance

In the ordinary course of business, our insurance subsidiaries may use reinsurance to provide protection against adverse loss experience and to expand our capital sources. Reinsurance recoverables are recorded as assets and included in other assets on our consolidated balance sheets, predicated on a reinsurer's ability to meet their obligations under the reinsurance agreements. If the reinsurers are unable to satisfy their obligations under the agreements, our insurance subsidiaries would be liable for such defaulted amounts.

The effect of reinsurance on net premiums written and earned is as follows:


	Year Ended December 31,
(In thousands)	2024		2023		2022
Net premiums written:
Direct	$	1,098,603	$	1,028,781	$	927,702
Ceded (1)	(132,023)		(134,499)		(107,673)
Net premiums written	$	966,580	$	894,282	$	820,029

Net premiums earned:
Direct	$	1,122,905	$	1,051,405	$	950,200
Ceded (1)	(132,023)		(134,499)		(107,673)
Net premiums earned	$	990,882	$	916,906	$	842,527

_______________________________________________________________________________

(1)Net of profit commission.

Quota Share Reinsurance

Essent Guaranty has entered into quota share reinsurance agreements with panels of third-party reinsurers ("QSR" agreements). Each of the third-party reinsurers has an insurer minimum financial strength rating of A- or better by S&P Global Ratings, A.M. Best or both. Under each QSR agreement, Essent Guaranty will cede premiums earned on a percentage of risk on all eligible policies written during a specified period, in exchange for reimbursement of ceded claims and claims expenses on covered policies, a specified ceding commission, as well as a profit commission that varies directly and inversely with ceded claims. Essent Guaranty has certain termination rights under each QSR agreement, including the option to terminate each QSR agreement subject to a termination fee.

The following tables summarizes Essent Guaranty's quota share reinsurance agreements as of December 31, 2024:

QSR Agreement

Coverage Period

Ceding Percentage

QSR-2019

September 1, 2019 - December 31, 2020

(1)

QSR-2022

January 1, 2022 - December 31, 2022

20%

QSR-2023

January 1, 2023 - December 31, 2023

17.5%

QSR-2024

January 1, 2024 - December 31, 2024

15.0%

________________________________________________________________________________________

(1) Under QSR-2019, Essent Guaranty cedes 40% of premiums on singles policies and 20% on all other policies.

Total RIF ceded under these QSR agreements was $8.6 billion as of December 31, 2024.

Excess of Loss Reinsurance

Essent Guaranty has entered into fully collateralized reinsurance agreements ("Radnor Re Transactions") with unaffiliated special purpose insurers domiciled in Bermuda. For the reinsurance coverage periods, Essent Guaranty and its affiliates retain the first layer of the respective aggregate losses, and a Radnor Re special purpose insurer will then provide second layer coverage up to the outstanding reinsurance coverage amount. Essent Guaranty and its affiliates retain losses in excess of the outstanding reinsurance coverage amount. The reinsurance premium due to each Radnor Re special purpose insurer is calculated by multiplying the outstanding reinsurance coverage amount at the beginning of a period by a coupon rate, which is the sum of one-month SOFR plus a risk margin, and then subtracting actual investment income collected on the assets in the related reinsurance trust during that period. The aggregate excess of loss reinsurance coverage decreases over a ten-year period as the underlying covered mortgages amortize. Essent Guaranty has rights to terminate the Radnor Re Transactions. The Radnor Re entities collateralized the coverage by issuing mortgage insurance-linked notes ("ILNs") in an aggregate amount equal to the initial coverage to unaffiliated investors. The notes have ten-year legal maturities and are non-recourse to any assets of Essent Guaranty or its affiliates. The proceeds of the notes were deposited into reinsurance trusts for the benefit of Essent Guaranty and will be the source of reinsurance claim payments to Essent Guaranty and principal repayments on the ILNs. During the year ended December 31, 2023, Radnor Re 2019-1 and Radnor Re 2020-1 retired approximately 100% and 99%,

respectively of their outstanding notes through tender offers made by these special purpose insurers. As of December 31, 2024, all outstanding notes of Radnor Re 2019-1 and 2020-1 were retired.

Essent Guaranty has entered into reinsurance agreements with panels of reinsurers that provide excess of loss coverage on new insurance written from January 1, 2018 through August 31, 2019 and from October 1, 2021 through December 31, 2024. For the reinsurance coverage periods, Essent Guaranty and its affiliates retain the first layer of the respective aggregate losses, and the reinsurance panels will then provide second layer coverage up to the outstanding reinsurance coverage amounts. Essent Guaranty and its affiliates retain losses in excess of the outstanding reinsurance coverage amounts. Essent Guaranty has rights to terminate these reinsurance agreements.

The following table summarizes Essent Guaranty's excess of loss coverages and retentions provided by insurance linked notes as of December 31, 2024:


(In thousands)
Deal Name	Vintage	Remaining Insurance in Force		Remaining Risk in Force		Remaining Reinsurance in Force		Remaining First Layer Retention		Optional Termination Date

Radnor Re 2021-1	Aug. 2020 - Mar. 2021	$	23,839,935	$	6,533,211	$	190,062	$	277,698	June 26, 2028
Radnor Re 2021-2	Apr. 2021 - Sep. 2021	29,757,565		8,243,653		265,134		276,141		November 25, 2027
Radnor Re 2022-1	Oct. 2021 - Jul. 2022	27,859,437		7,621,952		175,026		300,105		September 25, 2028
Radnor Re 2023-1	Aug. 2022 - Jun. 2023	28,058,061		7,690,718		268,320		280,559		July 25, 2028
Radnor Re 2024-1	Jul. 2023 - Jul. 2024	29,033,466		8,025,937		331,415		256,495		September 25, 2029
Total		$	138,548,464	$	38,115,471	$	1,229,957	$	1,390,998

The following table summarizes Essent Guaranty's excess of loss reinsurance coverages and retentions provided by panels of reinsurers as of December 31, 2024:


(In thousands)
Deal Name	Vintage	Remaining Insurance in Force		Remaining Risk in Force		Remaining Reinsurance in Force		Remaining First Layer Retention		Optional Termination Date
XOL 2019-1	Jan. 2018 - Dec. 2018	$	4,535,941	$	1,195,244	$	76,144	$	243,704	February 25, 2026
XOL 2020-1	Jan. 2019 - Dec. 2019	5,760,682		1,522,699		29,152		211,678		January 25, 2027
XOL 2022-1	Oct. 2021 - Dec. 2022	63,001,325		17,184,107		141,992		496,864		January 1, 2030
XOL 2023-1	Jan. 2023 - Dec. 2023	36,841,903		10,211,722		36,627		366,028		January 1, 2028
XOL 2024-1	Jan. 2024 - Dec. 2024	40,244,132		11,048,540		58,005		331,456		January 1, 2030
Total		$	150,383,983	$	41,162,312	$	341,920	$	1,649,730

The amount of monthly reinsurance premiums ceded to the Radnor Re entities will fluctuate due to changes in one-month SOFR and changes in money market rates that affect investment income collected on the assets in the reinsurance trusts. As the reinsurance premium will vary based on changes in these rates, we concluded that the Radnor Re Transactions contain embedded derivatives that will be accounted for separately like freestanding derivatives. The change in the fair value of the embedded derivatives is reported in earnings and included in other income.

In connection with the Radnor Re Transactions, we concluded that the risk transfer requirements for reinsurance accounting were met as each Radnor Re entity is assuming significant insurance risk and a reasonable possibility of a significant loss. In addition, we assessed whether each Radnor Re entity was a variable interest entity ("VIE") and the appropriate accounting for the Radnor Re entities if they were VIEs. A VIE is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured such that equity investors lack the ability to make significant decisions relating to the entity’s operations through voting rights or do not substantively participate in the gains and losses of the entity. A VIE is consolidated by its primary beneficiary. The primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of the decision-making ability

and ability to influence activities that significantly affect the economic performance of the VIE. We concluded that the Radnor Re entities are VIEs. However, given that Essent Guaranty (1) does not have the unilateral power to direct the activities that most significantly affect their economic performance and (2) does not have the obligation to absorb losses or the right to receive benefits that could be potentially significant to these entities, the Radnor Re entities are not consolidated in these financial statements.

The following table presents total assets of each Radnor Re special purpose insurer as well as our maximum exposure to loss associated with each Radnor Re entity, representing the fair value of the embedded derivatives, using observable inputs in active markets (Level 2), included in other assets (other accrued liabilities) on our consolidated balance sheet and the estimated net present value of investment earnings on the assets in the reinsurance trusts, each as of December 31, 2024:


			Maximum Exposure to Loss
(In thousands)	Total VIE Assets		On - Balance Sheet		Off - Balance Sheet		Total




Radnor Re 2021-1 Ltd.	$	190,062	$	(5,560)	$	15	$	(5,545)
Radnor Re 2021-2 Ltd.	265,134		(5,863)		50		(5,813)
Radnor Re 2022-1 Ltd.	175,026		(167)		33		(134)
Radnor Re 2023-1 Ltd.	268,320		111		51		162
Radnor Re 2024-1 Ltd.	331,415		$	267	$	82	$	349
Total	$	1,229,957	$	(11,212)	$	231	$	(10,981)

The assets of Radnor Re are the source of reinsurance claim payments to Essent Guaranty and provide capital relief under the PMIERs financial strength requirements (see Note 16). A decline in the assets available to pay claims would reduce the capital relief available to Essent Guaranty.

Reinsurance - Schedule of Quota Share Reinsurance (Details) - Reinsurance Policy, Type [Axis]: Quota Share Reinsurance $ in Billions	12 Months Ended
	Dec. 31, 2024 USD ($)
QSR-2019
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Net [Abstract]
Ceded premiums earned related to percent of risk on all other eligible policies written	20.00%
Ceded premiums earned related to percent of risk on eligible single premium policies	40.00%
QSR-2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Net [Abstract]
Ceded premiums earned related to percent of risk on all other eligible policies written	20.00%
RIF ceded	$ 8.6
QSR-2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Net [Abstract]
Ceded premiums earned related to percent of risk on all other eligible policies written	17.50%
QSR-2024
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Net [Abstract]
Ceded premiums earned related to percent of risk on all other eligible policies written	15.00%

Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net income	$ 729,403	$ 696,386	$ 831,353
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on the sale of investments, net	2,350	7,204	13,172
(Income) loss from other invested assets	2,336	0	0
Dividends from subsidiaries	(39,062)	(40,038)	(74,620)
Stock-based compensation expense	24,778	18,446	18,381
Amortization of premium on investment securities	20,231	14,899	18,347
Deferred income taxes	32,174	(13,246)	58,168
Changes in assets and liabilities:
Other assets	(18,653)	62,976	(50,333)
Other accrued liabilities	34,574	2,872	(2,036)
Net cash provided by operating activities	861,532	763,001	588,817
Investing Activities
Net change in short-term investments	164,707	(655,596)	61,060
Purchase of investments available for sale	(1,648,433)	(1,116,120)	(1,378,231)
Proceeds from maturities and paydowns of investments available for sale	411,635	664,239	247,296
Proceeds from sales of investments available for sale	415,074	707,544	747,883
Net cash used in investing activities	(706,926)	(525,569)	(398,872)
Financing Activities
Issuance of senior notes	498,160	0	0
Credit facility repayments	(425,000)	0	0
Treasury stock acquired	(111,543)	(70,670)	(97,914)
Payment of debt issuance costs	(8,488)	0	(154)
Dividends paid	(118,042)	(106,215)	(92,128)
Net cash used in financing activities	(164,913)	(176,885)	(190,196)
Net (decrease) increase in cash	(10,307)	60,547	(251)
Supplemental Disclosure of Cash Flow Information
Interest payments	(17,196)	(28,574)	(13,595)
Parent Company
Operating Activities
Net income	729,403	696,386	831,353
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income of subsidiaries	(769,963)	(742,439)	(863,579)
Loss on the sale of investments, net	2	11,722	12,170
(Income) loss from other invested assets	2,336	0	0
Dividends from subsidiaries	300,000	60,000	0
Stock-based compensation expense	1,134	1,000	927
Amortization of premium on investment securities	129	324	800
Deferred income taxes	0	(181)	0
Changes in assets and liabilities:
Other assets	889	816	1,775
Other accrued liabilities	40,289	18,365	19,232
Net cash provided by operating activities	304,219	45,993	2,678
Investing Activities
Net change in short-term investments	(76,250)	(14,370)	94,988
Purchase of investments available for sale	(106,653)	(9,860)	(157,468)
Proceeds from maturities and paydowns of investments available for sale	33,515	24,787	81,351
Proceeds from sales of investments available for sale	8,276	128,249	164,733
Net cash used in investing activities	(141,112)	128,806	183,604
Financing Activities
Issuance of senior notes	498,160	0	0
Credit facility repayments	(425,000)	0	0
Treasury stock acquired	(111,542)	(70,670)	(97,914)
Payment of debt issuance costs	(8,488)	0	(154)
Dividends paid	(118,043)	(106,215)	(92,128)
Net cash used in financing activities	(164,913)	(176,885)	(190,196)
Net (decrease) increase in cash	(1,806)	(2,086)	(3,914)
Cash at beginning of year	4,073	6,159	10,073
Cash at end of year	2,267	4,073	6,159
Supplemental Disclosure of Cash Flow Information
Interest payments	$ (17,196)	$ (28,574)	$ (13,595)

Acquisitions

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisitions

Effective July 1, 2023, Essent Holdings acquired all of the issued and outstanding shares of capital stock of Agents National Title Holding Company (“Agents National Title”) and the issued and outstanding membership interests of Boston National Holdings LLC (“Boston National Title”) for $92.6 million in cash in a single settlement with the seller. The purchase price was subject to further customary post-closing adjustments as described in a securities purchase agreement among the parties to the transaction, in which a post closing adjustment of $1.3 million was paid by the seller to Essent Holdings. The acquisition provides complementary products and services to our mortgage insurance business, adding a team of seasoned title professionals to Essent and providing a platform to leverage our capital, lender network and operational expertise in a well-established, adjacent real estate sector.

The acquired businesses contributed revenues of $80.1 million, principally comprised of $66.2 million of net premiums earned and $9.0 million of settlement services revenues, which is included in other income, and pre-tax net losses of $21.5 million to our results for the year ended December 31, 2024. The following unaudited pro forma summary presents consolidated information for Essent as if the business combination had occurred on January 1, 2022.


	Pro Forma
	Year Ended December 31,
(In thousands)	2023		2022
Revenues	$	1,153,872	$	1,131,032
Earnings	690,327		815,730

We did not have any material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. These pro forma amounts have been calculated after applying our accounting policies and adjusting the results of Agents National Title and Boston National Title to reflect the additional amortization that would have been charged to earnings assuming the fair value adjustments for the intangible assets acquired had been applied from January 1, 2022, including consequential income tax effects.

We incurred $4.5 million of acquisition-related costs for the year ended December 31, 2023, respectively, as well as $3 million of acquisition-related costs during 2022. These expenses are included in other underwriting and operating expenses on our consolidated statements of comprehensive income and are reflected in pro forma earnings for year ended December 31, 2022 in the table above.

The acquisition of Agents National Title and Boston National Title was accounted for as a business combination using the acquisition method of accounting and, accordingly, the assets acquired, liabilities assumed and consideration transferred were recorded at their estimated fair values as of the acquisition date. The excess of consideration transferred over the fair value of net assets acquired was recorded as goodwill. The Company allocated the goodwill to its Title operating segment.

The following table summarizes the consideration transferred to acquire Agents National Title and Boston National Title and the amounts of identified assets acquired and liabilities assumed, including purchase accounting adjustments that have been recorded by Essent during the measurement period:


	Originally Reported		Measurement Period Adjustments		As Reported
Consideration Paid:
Cash	$	92,625	$	(1,315)	$	91,310
Assets Acquired:
Cash and cash equivalents	5,864		—		5,864
Short-term investments	21,108		—		21,108
Fixed maturities available for sale	9,668		—		9,668
Identifiable intangible assets	26,300		(3,400)		22,900
Other assets	16,366		(2,297)		14,069
Liabilities Assumed:
Reserve for losses	14,613		(464)		14,149
Other liabilities	10,399		6,512		16,911
Total Identifiable Net Assets	54,294		(11,745)		42,549
Goodwill	$	38,331	$	10,430	$	48,761

Adjustments to Goodwill were primarily related to the fair value of claims reserve liabilities, agency relationship intangible assets and other assets. The fair values of assets acquired and liabilities assumed, as well as resulting goodwill, were finalized as of June 30, 2024.

The amount of goodwill recorded reflects the increased market share and related synergies that are expected to result from the acquisition, and represents the excess purchase price over the estimated fair value of the net assets acquired from Agents National Title and Boston National Title.

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions					1 Months Ended																	12 Months Ended
	Jan. 01, 2024	Jan. 01, 2023	Jan. 01, 2022	Jan. 01, 2021	Feb. 28, 2025	May 31, 2024	Feb. 29, 2024	May 31, 2023	Feb. 28, 2023	Jan. 31, 2023	May 31, 2022	Feb. 28, 2022	Jan. 31, 2022	May 31, 2021	Feb. 28, 2021	Jan. 31, 2021	Feb. 29, 2020	Jan. 31, 2020	Feb. 28, 2019	Feb. 28, 2018	Feb. 28, 2017	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2014
Stock-based compensation
Shares tendered by employees to pay employee withholding taxes (in shares)																						163,812	119,334	133,011
Performance-based share awards
Stock-based compensation
Vesting period																						3 years	3 years	3 years
Nonvested Share Units
Stock-based compensation
Granted (in shares)																						307,000	548,000	151,000
Nonvested shares, share units or DEU
Stock-based compensation
Total fair value of shares vested																						$ 25.4	$ 15.3	$ 18.4
Nonvested shares or share units outstanding
Stock-based compensation
Total unrecognized compensation expense																						$ 26.1
Expected weighted average period for recognition of expense																						2 years 4 months 24 days
Certain Senior Management \| Performance-based share awards
Stock-based compensation
Incremental cost																						$ 4.0
Vesting Based On Service \| Nonvested Shares
Stock-based compensation
Granted (in shares)																						53,000	75,000	87,000
Vesting Based On Service \| Employee \| Nonvested Share Units \| Incentive Program Bonus Award Fiscal Year Performance
Stock-based compensation
Vesting period							3 years		3 years	3 years		3 years			3 years		3 years	3 years	3 years
Vesting Based On Service \| Employee \| Nonvested Share Units \| Incentive Program Bonus Award Fiscal Year Performance \| First Vesting Date
Stock-based compensation
Vesting percentage													33.33%			33.33%
Vesting Based On Service \| Employee \| Nonvested Share Units \| Incentive Program Bonus Award Fiscal Year Performance \| Second Vesting Date
Stock-based compensation
Vesting percentage													33.33%			33.33%
Vesting Based On Service \| Employee \| Nonvested Share Units \| Incentive Program Bonus Award Fiscal Year Performance \| Third Vesting Date
Stock-based compensation
Vesting percentage													33.33%			33.33%
Vesting Based On Service \| Director \| Nonvested Share Units \| Maximum
Stock-based compensation
Vesting period						1 year		1 year			1 year			1 year
Vesting Based On Service \| Certain Employees \| Nonvested Share Units \| Subsequent Event
Stock-based compensation
Granted (in shares)					61,404
Vesting Based On Performance \| Employee \| Nonvested Share Units \| Incentive Program Bonus Award Fiscal Year Performance
Stock-based compensation
Vesting period							2 years
Compounded Annual Book Value Per Share Growth \| Nonvested Shares \| Performance Based Grants 2018, 2019 and 2020
Stock-based compensation
Vesting percentage																						100.00%
Vesting Based On Service And Performance \| Nonvested Shares
Stock-based compensation
Granted (in shares)																						244,000	300,000	308,000
Vesting Based On Service And Performance \| Certain Senior Management \| Nonvested Shares \| Subsequent Event
Stock-based compensation
Granted (in shares)					289,033
Vesting Based On Service And Performance \| Certain Senior Management \| Nonvested Share Units \| Subsequent Event
Stock-based compensation
Granted (in shares)					79,192
2013 Plan
Stock-based compensation
Shares authorized (in shares)																									7,500,000
Number of share available for future grant (in shares)																						3,300,000
2013 Plan \| Vesting Based On Service \| Certain Senior Management \| Nonvested Shares
Stock-based compensation
Performance period							3 years		3 years			3 years			3 years		3 years		3 years	3 years	3 years
2013 Plan \| Vesting Based On Service \| Certain Senior Management \| Nonvested Shares \| First Vesting Date
Stock-based compensation
Vesting percentage									33.33%		33.33%	33.33%			33.33%
2013 Plan \| Vesting Based On Service \| Certain Senior Management \| Nonvested Shares \| Second Vesting Date
Stock-based compensation
Vesting percentage									33.33%		33.33%	33.33%			33.33%
2013 Plan \| Vesting Based On Service \| Certain Senior Management \| Nonvested Shares \| Third Vesting Date
Stock-based compensation
Vesting percentage									33.33%		33.33%	33.33%			33.33%
2013 Plan \| Vesting Based On Performance \| Certain Senior Management \| Nonvested Shares
Stock-based compensation
Performance period	3 years	3 years	3 years	3 years													3 years		3 years	3 years	3 years
2013 Plan \| Vesting Based On Performance \| Certain Senior Management \| Nonvested Shares \| Maximum
Stock-based compensation
Vesting percent																						200.00%

Fair Value of Financial Instruments- Narrative (Details) - 6.250% Senior Notes due 2029 - Senior Notes $ in Millions	Dec. 31, 2024 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost carried	$ 494.0
Net of issuance costs	$ 510.8

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Reinsurance - Schedule of Essent Guaranty's Excess of Loss Reinsurance Coverages and Retentions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Reinsurance in Force	$ 1,229,957
Radnor Re, Total
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	138,548,464
Remaining Risk in Force	38,115,471
Remaining Reinsurance in Force	1,229,957
Remaining First Layer Retention	1,390,998
OXL
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	150,383,983
Remaining Risk in Force	41,162,312
Remaining Reinsurance in Force	341,920
Remaining First Layer Retention	1,649,730
Reinsurance Policy, Type [Axis]: Vintage August 2022- June 2023 \| Radnor Re 2023-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	28,058,061
Remaining Risk in Force	7,690,718
Remaining First Layer Retention	280,559
Reinsurance Policy, Type [Axis]: Vintage July 2023- July 2024 \| Radnor Re 2024-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	29,033,466
Remaining Risk in Force	8,025,937
Remaining First Layer Retention	256,495
Reinsurance Policy, Type [Axis]: Vintage Year Aug 2020 - Mar 2021 \| Radnor Re 2021-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	23,839,935
Remaining Risk in Force	6,533,211
Remaining Reinsurance in Force	190,062
Remaining First Layer Retention	277,698
Reinsurance Policy, Type [Axis]: Vintage Year Oct 2021 - Jul 2022 \| Radnor Re 2022-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	27,859,437
Remaining Risk in Force	7,621,952
Remaining Reinsurance in Force	175,026
Remaining First Layer Retention	300,105
Reinsurance Policy, Type [Axis]: Vintage Year Apr 2021 - Sep 2021 \| Radnor Re 2021-2
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	29,757,565
Remaining Risk in Force	8,243,653
Remaining Reinsurance in Force	265,134
Remaining First Layer Retention	276,141
Reinsurance Policy, Type [Axis]: Vintage Year August 2022- June 2023 \| Radnor Re 2023-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Reinsurance in Force	268,320
Reinsurance Policy, Type [Axis]: Vintage Year Jan 2018 - Dec 2018 \| XOL 2019-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	4,535,941
Remaining Risk in Force	1,195,244
Remaining Reinsurance in Force	76,144
Remaining First Layer Retention	243,704
Reinsurance Policy, Type [Axis]: Vintage Year Jan 2019 - Dec 2019 \| XOL 2020-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	5,760,682
Remaining Risk in Force	1,522,699
Remaining Reinsurance in Force	29,152
Remaining First Layer Retention	211,678
Reinsurance Policy, Type [Axis]: Vintage Year Jan 2023 - Dec 2023 \| XOL 2023-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	36,841,903
Remaining Risk in Force	10,211,722
Remaining Reinsurance in Force	36,627
Remaining First Layer Retention	366,028
Reinsurance Policy, Type [Axis]: Vintage Year Jan 2024 - Dec 2024 \| XOL 2024-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	40,244,132
Remaining Risk in Force	11,048,540
Remaining Reinsurance in Force	58,005
Remaining First Layer Retention	331,456
Reinsurance Policy, Type [Axis]: Vintage Year July 2023- July 2024 \| Radnor Re 2024-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Reinsurance in Force	331,415
Reinsurance Policy, Type [Axis]: Vintage Year Oct 2021 - Dec 2022 \| XOL 2022-1
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Remaining Insurance in Force	63,001,325
Remaining Risk in Force	17,184,107
Remaining Reinsurance in Force	141,992
Remaining First Layer Retention	$ 496,864

Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

We have one reportable business segment: Mortgage Insurance. Our Mortgage Insurance segment offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. We provide private mortgage insurance on residential first-lien mortgage loans (“U.S. mortgage insurance”) through our U.S. mortgage insurance subsidiary, Essent Guaranty, and also offer other credit risk management solutions, including contract underwriting, to our customers. Through our Bermuda-based reinsurance subsidiary, Essent Re, we reinsure U.S. mortgage risk primarily through the GSE credit risk transfer market (“GSE and other risk share”) and provide underwriting consulting services to third-party reinsurers. Our U.S. mortgage insurance business and GSE and other risk share business each represent operating segments that we have aggregated as one reportable segment based on their shared economic characteristics and the similarities between the two operating segments.

In addition, our "Corporate & Other" category is used to reconcile our reportable segment to consolidated results and includes business activities associated with our title insurance operations, income and losses from holding company treasury operations, as well as general corporate operating expenses not attributable to our operating segments. Our title insurance operations are an operating segment that does not meet the quantitative thresholds of a separate reportable segment.

We allocate corporate management and support expenses to operating segments based on their percentage of total operating segment revenues, which approximates the estimated percentage of management time and resources spent on each operating segment. We view our borrowings as holding company capital and liquidity and as such, all interest expense is included in Corporate & Other.

Our senior management team, including our President & Chief Executive Officer (Essent's chief operating decision maker or "CODM"), uses income (loss) before income taxes as the primary measure to evaluate the financial performance of the operating segments and to allocate resources to those segments, including capital allocations and assessing headcount. The CODM also assesses the profitability of our Mortgage Insurance segment through analysis of the loss ratio, expense ratio and combined ratio. We do not manage our segments by assets.

Segment Information: Profit & Loss

The following tables reconcile the components of reportable segment profit and loss to consolidated profit and loss. Within the tables, we have disclosed significant segment expenses at a level of disaggregation that coincides with what is regularly provided to the CODM. Other underwriting and operating expenses in the Mortgage Insurance segment include software, professional fees, travel, and occupancy costs. The accounting policies of our operating segments are the same as those described in the summary of significant accounting policies. We do not have inter-segment transactions.


	Year Ended December 31, 2024
(In thousands)	Mortgage Insurance			Corporate & Other		Consolidated
Revenues:
Net premiums earned	$	924,676		$	66,206	$	990,882
Net investment income	183,341			38,729		222,070
Realized investment (losses) gains, net	(2,343)			(7)		(2,350)
Income (loss) from other invested assets	7,171			204		7,375

Other income	14,152			10,775		24,927
Total revenues	1,126,997			115,907		1,242,904

Losses and expenses:
Provision (benefit) for losses and LAE	75,182			6,038		81,220

Compensation and benefits	72,156			64,236		136,392
Premium and other taxes	23,007			1,497		24,504
Ceding commission	(24,248)			—		(24,248)
Other underwriting and operating expenses	44,829			89,397		134,226
Net operating expenses before allocations	115,744			155,130		270,874
Corporate expense allocations	43,787			(43,787)		—
Operating expenses after allocations	159,531			111,343		270,874

Interest expense	—			35,319		35,319
Income (loss) before income taxes	$	892,284		$	(36,793)	$	855,491

Loss ratio (1)	8.1		%
Expense ratio (2)	17.3		%
Combined ratio	25.4		%



(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned.
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned.


	Year Ended December 31, 2023
(In thousands)	Mortgage Insurance			Corporate & Other		Consolidated
Revenues:
Net premiums earned	$	878,937		$	37,969	$	916,906
Net investment income	159,868			26,271		186,139
Realized investment (losses) gains, net	(6,392)			(812)		(7,204)
Income (loss) from other invested assets	(490)			(10,628)		(11,118)

Other income	20,692			4,344		25,036
Total revenues	1,052,615			57,144		1,109,759

Losses and expenses:
Provision (benefit) for losses and LAE	30,120			1,422		31,542

Compensation and benefits	68,996			45,902		114,898
Premium and other taxes	22,544			(376)		22,168
Ceding commission	(21,326)			—		(21,326)
Other underwriting and operating expenses	44,968			64,373		109,341
Net operating expenses before allocations	115,182			109,899		225,081
Corporate expense allocations	47,274			(47,274)		—
Operating expenses after allocations	162,456			62,625		225,081

Interest expense	—			30,137		30,137
Income (loss) before income taxes	$	860,039		$	(37,040)	$	822,999

Loss ratio (1)	3.4		%
Expense ratio (2)	18.5		%
Combined ratio	21.9		%



(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned.
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned.


	Year Ended December 31, 2022
Summary of Profit & Loss (In thousands)	Mortgage Insurance			Corporate & Other		Consolidated
Revenues:
Net premiums earned	$	842,527		$	—	$	842,527
Net investment income	112,285			12,124		124,409
Realized investment (losses) gains, net	(1,829)			(11,343)		(13,172)
Income (loss) from other invested assets	33,142			(4,466)		28,676
Other income	18,384			—		18,384
Total revenues	1,004,509			(3,685)		1,000,824

Losses and expenses:
Provision (benefit) for losses and LAE	(174,704)			—		(174,704)

Compensation and benefits	66,410			33,892		100,302
Premium and other taxes	20,977			—		20,977
Ceding commission	(17,516)			—		(17,516)
Other underwriting and operating expenses	41,634			26,336		67,970
Net operating expenses before allocations	111,505			60,228		171,733
Corporate expense allocations	48,100			(48,100)		—
Operating expenses after allocations	159,605			12,128		171,733
Interest expense	—			15,608		15,608
Income (loss) before income tax expense	$	1,019,608		$	(31,421)	$	988,187

Loss ratio (1)	(20.7)		%
Expense ratio (2)	18.9		%
Combined ratio	(1.8)		%


(1) Loss ratio is calculated by dividing the provision (benefit) for losses and LAE by net premiums earned.
(2) Expense ratio is calculated by dividing operating expenses after allocations by net premiums earned.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Portion of Nonvested Common Shares Earned based upon Achievement of Compounded Annual Book Value per share Growth

The portion of the nonvested performance-based share awards that will be earned based upon the achievement of compounded annual book value per share growth is as follows:


	2020 Performance-Based Grants				2019 Performance-Based Grants
Performance level	Compounded Annual Book Value Per Share Growth		Nonvested Common Shares Earned		Compounded Annual Book Value Per Share Growth		Nonvested Common Shares Earned
	<13	%	0	%	<14	%	0	%
Threshold	13	%	10	%	14	%	10	%
	14	%	35	%	15	%	35	%
	15	%	60	%	16	%	60	%
	16	%	85	%	17	%	85	%
Maximum	≥17	%	100	%	≥18	%	100	%

The portion of these nonvested performance-based share awards and units that will be earned is as follows:


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2021 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	14% "Target"	100%	150%	200%
	12%	75%	125%	175%
	10%	50%	100%	150%
	8%	25%	75%	125%
	6%	0%	50%	100%


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2022 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	13% "Target"	100%	150%	200%
	11%	75%	125%	175%
	9%	50%	100%	150%
	7%	25%	75%	125%
	5%	0%	50%	100%


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2023 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	10% "Target"	100%	150%	200%
	9%	75%	125%	175%
	8%	50%	100%	150%
	6%	25%	75%	125%
	5%	0%	50%	100%


		Relative Total Shareholder Return vs. S&P 1500 Financial Services Index
2024 Awards		≤25th percentile	50th percentile "Target"	≥75th percentile
Three-Year Book Value Per Share CAGR	12% "Target"	100%	150%	200%
	11%	75%	125%	175%
	10%	50%	100%	150%
	8%	25%	75%	125%
	7%	0%	50%	100%

Schedule of Nonvested Common Share and Nonvested Common Share unit activity

The following tables summarize nonvested common share, nonvested common share unit and DEU activity for the year ended December 31:


	2024
	Time and Performance- Based Share Awards			Time-Based Share Awards			Time and Performance-Based Share Units			Time-Based Share Units			DEUs
(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Dividend Equivalent Units	Weighted Average Grant Date Fair Value
Outstanding at beginning of year	844	$	14.29	149	$	44.40	24	$	13.23	700	$	42.46	57	$	44.00
Granted	244	21.84		53	53.87		43	22.46		307	53.40		36	57.91
Vested	(167)	15.64		(75)	44.50		—	—		(209)	41.50		(20)	44.01
Forfeited	(84)	15.64		—	—		—	—		(35)	48.20		(6)	44.35
Outstanding at end of year	837	$	16.09	127	$	48.27	67	$	19.15	763	$	46.88	67	$	51.25


	2023
	Time and Performance- Based Share Awards			Time-Based Share Awards			Time and Performance-Based Share Units			Time-Based Share Units			DEUs
(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Dividend Equivalent Units	Weighted Average Grant Date Fair Value
Outstanding at beginning of year	647	$	20.99	138	$	45.94	5	$	15.35	345	$	45.95	37	$	40.86
Granted	300	12.66		75	43.51		19	12.66		548	41.78		37	40.55
Vested	(103)	51.52		(64)	46.65		—	—		(177)	47.43		(16)	40.38
Forfeited	—	—		—	—		—	—		(16)	39.12		(1)	42.13
Outstanding at end of year	844	$	14.29	149	$	44.40	24	$	13.23	700	$	42.46	57	$	44.00


	2022
	Time and Performance- Based Share Awards			Time-Based Share Awards			Time and Performance-Based Share Units			Time-Based Share Units			DEUs
(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Number of Share Units	Weighted Average Grant Date Fair Value		Dividend Equivalent Units	Weighted Average Grant Date Fair Value
Outstanding at beginning of year	500	$	31.29	140	$	45.31	—	$	—	461	$	47.94	28	$	41.75
Granted	308	14.83		87	46.15		10	15.35		151	44.34		25	40.28
Vested	(139)	45.32		(86)	45.07		—	—		(192)	47.53		(14)	41.29
Forfeited	(22)	15.45		(3)	46.91		(5)	15.35		(75)	50.85		(2)	42.70
Outstanding at end of year	647	$	20.99	138	$	45.94	5	$	15.35	345	$	45.95	37	$	40.86

Schedule of Compensation Expense, Net of Forfeitures, and Related Tax Effects Recognized in Connection with Nonvested shares

Compensation expense, net of forfeitures, and related tax effects recognized in connection with nonvested shares and share units were as follows for the years ended December 31:


(In thousands)	2024		2023		2022
Compensation expense	$	24,778	$	18,446	$	18,381
Income tax benefit	4,948		3,660		3,636

Capital Stock (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Dividends Declared and Paid

The following table presents the amounts declared and paid per common share each quarter:


Quarter Ended	2024		2023		2022
March 31	$	0.28	$	0.25	$	0.20
June 30	0.28		0.25		0.21
September 30	0.28		0.25		0.22
December 31	0.28		0.25		0.23
Total dividends per common share declared and paid	$	1.12	$	1.00	$	0.86

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	238

Summary of Significant Accounting Policies - Reserve for Losses and Loss Adjustment Expense and Premium Deficiency Reserve (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) payment	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Number of consecutive missed loan payments by borrower for classification of insured loan as in default \| payment	2
Premium deficiency reserve \| $	$ 0	$ 0

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other comprehensive income (loss):
Other comprehensive (losses) gain, before tax	$ (31,306)	$ 120,238
Other comprehensive income (loss):
Other comprehensive (losses) gain, tax effect	7,818	(17,944)
Net of Tax
Balance, beginning of year	5,102,550	4,462,309
Other comprehensive income (loss):
Total other comprehensive income (loss)	(23,488)	102,294	$ (433,497)
Balance, end of year	5,603,658	5,102,550	4,462,309
Accumulated Other Comprehensive Income (Loss)
Before Tax
AOCI before tax, beginning of year	(322,992)	(443,230)
Other comprehensive income (loss):
AOCI before tax, end of year	(354,298)	(322,992)	(443,230)
Tax Effect
AOCI tax effect, beginning of year	42,496	60,440
Other comprehensive income (loss):
AOCI tax effect, end of year	50,314	42,496	60,440
Net of Tax
Balance, beginning of year	(280,496)	(382,790)	50,707
Other comprehensive income (loss):
Total other comprehensive income (loss)	(23,488)	102,294	(433,497)
Balance, end of year	(303,984)	(280,496)	$ (382,790)
Accumulated Net Investment Gains (Losses) On Investments
Other comprehensive income (loss):
Unrealized holding (losses) gains arising during the year, before tax	(33,656)	113,034
Less: Reclassification adjustment for losses (gains) included in net income	2,350	7,204
Other comprehensive (losses) gain, before tax	(31,306)	120,238
Other comprehensive income (loss):
Unrealized holding (losses) gains arising during the year, tax effect	8,260	(16,633)
Less: Reclassification adjustment for losses (gains) included in net income	(442)	(1,311)
Other comprehensive (losses) gain, tax effect	7,818	(17,944)
Other comprehensive income (loss):
Unrealized holding (losses) gains arising during the year, net of tax	(25,396)	96,401
Less: Reclassification adjustment for losses (gains) included in net income	1,908	5,893
Total other comprehensive income (loss)	$ (23,488)	$ 102,294

Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Net investment income	$ 222,070	$ 186,139	$ 124,409
Realized investment losses, net	(2,350)	(7,204)	(13,172)
Loss from other invested assets	(2,336)	0	0
Total revenues	1,242,904	1,109,759	1,000,824
Expenses:
Interest expense	35,319	30,137	15,608
Total losses and expenses	387,413	286,760	12,637
Income before income taxes	855,491	822,999	988,187
Income tax expense (benefit)	126,088	126,613	156,834
Net income	729,403	696,386	831,353
Other comprehensive income (loss):
Change in unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of $(7,818) in 2024, $17,944 in 2023 and $(75,013) in 2022	(23,488)	102,294	(433,497)
Total other comprehensive income (loss)	(23,488)	102,294	(433,497)
Comprehensive income	705,915	798,680	397,856
Change in unrealized (depreciation) appreciation of investments, tax (benefit) expense	(7,818)	17,944	(75,013)
Parent Company
Revenues:
Net investment income	9,030	5,663	6,433
Realized investment losses, net	(2)	(11,722)	(12,170)
Loss from other invested assets	(2,336)	0	0
Administrative service fees from subsidiaries	830	710	642
Total revenues	7,522	(5,349)	(5,095)
Expenses:
Administrative service fees to subsidiaries	4,717	3,738	3,908
Other operating expenses	8,046	7,010	7,614
Interest expense	35,319	30,137	15,609
Total losses and expenses	48,082	40,885	27,131
Income before income taxes	(40,560)	(46,234)	(32,226)
Income tax expense (benefit)	0	(181)	0
Loss before equity in undistributed net income of subsidiaries	(40,560)	(46,053)	(32,226)
Equity in undistributed net income of subsidiaries	769,963	742,439	863,579
Net income	729,403	696,386	831,353
Other comprehensive income (loss):
Change in unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of $(7,818) in 2024, $17,944 in 2023 and $(75,013) in 2022	(23,488)	102,294	(433,497)
Total other comprehensive income (loss)	(23,488)	102,294	(433,497)
Comprehensive income	705,915	798,680	397,856
Change in unrealized (depreciation) appreciation of investments, tax (benefit) expense	$ (7,818)	$ 17,944	$ (75,013)

Debt Obligations (Details) - USD ($)		6 Months Ended	12 Months Ended
Debt Obligations (Details) - USD ($)	Jul. 01, 2024	Jun. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Credit Facility [Line Items]
Issuance of senior notes			$ 498,160,000	$ 0	$ 0
6.250% Senior Notes due 2029 \| Senior Notes
Credit Facility [Line Items]
Principal amount	$ 500,000,000
Debt instrument, interest rate, stated percentage	6.25%
Debt instrument, redemption price, percentage	100.00%
Issuance of senior notes	$ 495,300,000
Debt instrument, unamortized amount			1,700,000
Debt issuance costs, net			4,400,000
Term Loan \| Existing Credit Facility \| Line of Credit
Credit Facility [Line Items]
Credit facility expiration period		5 years
Credit facility, maximum borrowing capacity		$ 825,000,000
Line of credit facility, accordion feature		175,000,000
Amount outstanding, gross		$ 425,000,000		$ 425,000,000
Weighted average interest rate during period		7.07%		7.11%
Loss on debt extinguishment			$ 3,200,000
Debt issuance costs, net				$ 3,100,000
Revolving Credit Facility
Credit Facility [Line Items]
Credit facility, commitment fee rate			0.225%
Revolving Credit Facility \| Line of Credit
Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	500,000,000
Line of credit facility, accordion feature	$ 250,000,000
Debt instrument, term	5 years

Schedule I - Summary of Investments-Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]

Schedule I - Summary of Investments-Other Than Investments in Related Parties

Schedule I—Summary of Investments—Other Than Investments in Related Parties

December 31, 2024


Type of Investment (In thousands)	Amortized Cost		Fair Value		Amount at which shown in the Balance Sheet
Fixed maturities:
Bonds:
United States Government and government agencies and authorities	$	1,704,937	$	1,566,307	$	1,566,307
States, municipalities and political subdivisions	631,015		583,501		583,501
Residential and commercial mortgage securities	519,613		478,086		478,086
Asset-backed securities	642,395		631,959		631,959
Foreign government and agency securities	81,631		69,798		69,798
All other corporate bonds	1,887,647		1,783,046		1,783,046
Total fixed maturities	5,467,238		5,112,697		5,112,697
Short-term investments	763,780		764,024		764,024
Other invested assets	303,900		303,900		303,900
Total investments	$	6,534,918	$	6,180,621	$	6,180,621

Debt Obligations	12 Months Ended
Debt Obligations	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations Credit Facility Through June 30, 2024, Essent Group and its subsidiaries, Essent Irish Intermediate Holdings Limited and Essent US Holdings, Inc. (collectively, the "Borrowers"), were parties to a five-year secured credit facility with a committed capacity of $825 million (the "Existing Credit Facility"). The Existing Credit Facility also provided for up to $175 million aggregate principal amount of uncommitted incremental term loan and/or revolving credit facilities that may be exercised at the Borrowers’ option so long as the Borrowers receive commitments from the lenders. Borrowings under the Existing Credit Facility may have been used for working capital and general corporate purposes, including, without limitation, capital contributions to Essent’s insurance and reinsurance subsidiaries. Borrowings accrued interest at a floating rate tied to a standard short-term borrowing index, selected at the Company’s option, plus an applicable margin. A commitment fee was due quarterly on the average daily amount of the undrawn revolving commitment. The applicable margin and the commitment fee were based on the senior unsecured debt rating or long-term issuer rating of Essent Group to the extent available, or the insurer financial strength rating of Essent Guaranty. The obligations under the Existing Credit Facility were secured by certain assets of the Borrowers, excluding the stock and assets of its insurance and reinsurance subsidiaries. The Credit Facility contained several covenants, including financial covenants relating to minimum net worth, capital and liquidity levels, maximum debt to capitalization level and Essent Guaranty's compliance with the PMIERs (see Note 14). As of June 30, 2024, the Company was in compliance with the covenants and $425 million had been borrowed under the term loan portion of the Existing Credit Facility with a weighted average interest rate of 7.07%. As of December 31, 2023, $425 million had been borrowed with a weighted average interest rate of 7.11%. On July 1, 2024, Essent Group completed an underwritten public offering of $500 million principal amount of 6.25% Senior Notes due 2029 (the “Senior Notes"). Interest on the Senior Notes will be payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2025. The Senior Notes will mature on July 1, 2029. At any time prior to June 1, 2029 (one month prior to the maturity date), the Company may redeem the Senior Notes, at its option, in whole or in part, at any time and from time to time, at a redemption price described in the Supplemental Indenture plus accrued and unpaid interest, if any, to, but excluding, the redemption date. At any time and from time to time on or after June 1, 2029, the Company may redeem, at its option, in whole or in part, the Senior Notes at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The net proceeds from the sale of the Senior Notes, after deducting the underwriting discounts and commissions and estimated offering expenses, were approximately $495.3 million. The Company used the net proceeds from the sale of the Senior Notes to repay all of the borrowings outstanding under the term loan portion of the Existing Credit Facility described above, and intends to use the remaining net proceeds for general corporate purposes. On July 1, 2024, concurrently with the closing of the Offering of the Senior Notes and the repayment of all of the borrowings outstanding under the term loan portion of its Existing Credit Agreement, the Fourth Amended and Restated Credit Agreement (the “Revolving Credit Agreement”) became effective, amending and restating the Existing Credit Facility. Under the Revolving Credit Agreement, the Refinancing Agreement Revolving Lenders (as defined therein) agreed to provide the Company with a five-year unsecured revolving credit facility of up to $500 million of senior unsecured revolving loans (the “Revolving Credit Facility”). A commitment fee is due quarterly on the average daily amount of the undrawn revolving commitment. The annual commitment fee rate at December 31, 2024 was 0.225%. The Revolving Credit Facility also provides for an aggregate principal amount of up to $250 million in uncommitted incremental revolving credit facilities that may be exercised at the Company’s option, so long as the Company receives sufficient commitments from the bank lenders. The Senior Notes are presented on the consolidated balance sheets net of an unamortized issuance discount of $1.7 million and deferred issuance costs of $4.4 million as of December 31, 2024. Included in interest expense in the consolidated statement of comprehensive income for the year ended December 31, 2024 is a $3.2 million loss on debt extinguishment for the write-off of unamortized debt issuance costs on the Existing Credit Facility borrowings repaid on July 1, 2024. Our Credit facility borrowings as of December 31, 2023 are presented net of unamortized deferred costs of $3.1 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
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-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Earnings per Share (EPS) - Narrative (Details) - shares	12 Months Ended
Earnings per Share (EPS) - Narrative (Details) - shares	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive nonvested shares (in shares)	51,776	48,087	77,759
Performance-based share awards
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting period	3 years	3 years	3 years

Dividends Restrictions (Details) - USD ($)	12 Months Ended
Dividends Restrictions (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2024
Dividends Restrictions
Total equity	$ 5,603,658,000	$ 5,102,550,000	$ 4,462,309,000
Contribution	39,062,000	40,038,000	74,620,000
Tile Insurance Subsidiary
Dividends Restrictions
Contribution	24,500,000	38,100,000
Related Party
Dividends Restrictions
Dividends paid to parent company	300,000,000	60,000,000	0
Essent Guaranty \| Related Party
Dividends Restrictions
Unassigned surplus	396,600,000
Amount available for dividend distribution				$ 396,600,000
Essent Guaranty \| Affiliated Entity
Dividends Restrictions
Dividends paid to parent company	165,500,000	295,000,000	315,000,000
Essent PA \| Affiliated Entity
Dividends Restrictions
Dividends paid to parent company	0	5,000,000	$ 0
Essent Re \| Affiliated Entity
Dividends Restrictions
Amount available for dividend distribution				$ 441,900,000
Dividends paid to parent company	300,000,000	$ 60,000,000
Total equity	1,800,000,000
Essent Re \| Affiliated Entity \| Minimum \| Quota share reinsurance
Dividends Restrictions
Total equity	$ 100,000,000

Investments

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investments

Investments available for sale consist of the following:


December 31, 2024 (In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury securities	$	561,853	$	325	$	(14,888)	$	547,290

U.S. agency mortgage-backed securities	1,249,259		42		(123,865)		1,125,436
Municipal debt securities (1)	631,015		1,596		(49,110)		583,501
Non-U.S. government securities	81,631		—		(11,833)		69,798
Corporate debt securities (2)	1,887,647		1,064		(105,665)		1,783,046
Residential and commercial mortgage securities	519,613		527		(42,054)		478,086
Asset-backed securities	642,395		601		(11,037)		631,959
Money market funds	657,605		—		—		657,605
Total investments available for sale	$	6,231,018	$	4,155	$	(358,452)	$	5,876,721


December 31, 2023 (In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury securities	$	1,014,076	$	1,434	$	(19,128)	$	996,382
U.S. agency securities	7,199		—		(4)		7,195
U.S. agency mortgage-backed securities	922,907		438		(101,999)		821,346
Municipal debt securities (1)	585,047		6,660		(44,449)		547,258
Non-U.S. government securities	77,516		—		(10,069)		67,447
Corporate debt securities (2)	1,380,533		4,425		(87,903)		1,297,055
Residential and commercial mortgage securities	571,163		286		(53,509)		517,940
Asset-backed securities	584,168		203		(19,376)		564,995
Money market funds	444,121		—		—		444,121
Total investments available for sale	$	5,586,730	$	13,446	$	(336,437)	$	5,263,739

_______________________________________________________________________________


	December 31,		December 31,
(1) The following table summarizes municipal debt securities as of :	2024		2023
Special revenue bonds	83.3	%	81.4	%
General obligation bonds	16.7		18.6



Total	100.0	%	100.0	%


	December 31,		December 31,
(2) The following table summarizes corporate debt securities as of :	2024		2023
Financial	41.8	%	42.0	%
Consumer, Non-Cyclical	15.1		15.9
Industrial	8.2		8.1
Communications	5.7		7.2
Consumer, Cyclical	6.3		7.1
Utilities	8.7		6.3
Technology	6.4		6.2
Energy	5.1		4.7
Basic Materials	2.7		2.5

Total	100.0	%	100.0	%

The amortized cost and fair value of investments available for sale at December 31, 2024, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Because most U.S. agency mortgage-backed securities, residential and commercial mortgage securities and asset-backed securities provide for periodic payments throughout their lives, they are listed below in separate categories.


(In thousands)	Amortized Cost		Fair Value
U.S. Treasury securities:
Due in 1 year	$	213,553	$	212,961
Due after 1 but within 5 years	301,532		292,711
Due after 5 but within 10 years	32,302		29,303
Due after 10 years	14,466		12,315
Subtotal	561,853		547,290




Municipal debt securities:
Due in 1 year	16,767		16,624
Due after 1 but within 5 years	84,229		81,905
Due after 5 but within 10 years	144,143		134,741
Due after 10 years	385,876		350,231
Subtotal	631,015		583,501
Non-U.S. government securities:
Due in 1 year	5,267		5,233
Due after 1 but within 5 years	32,032		30,792
Due after 5 but within 10 years	7,706		6,195
Due after 10 years	36,626		27,578
Subtotal	81,631		69,798
Corporate debt securities:
Due in 1 year	164,458		163,676
Due after 1 but within 5 years	505,921		489,307
Due after 5 but within 10 years	1,014,720		959,079
Due after 10 years	202,548		170,984
Subtotal	1,887,647		1,783,046
U.S. agency mortgage-backed securities	1,249,259		1,125,436
Residential and commercial mortgage securities	519,613		478,086
Asset-backed securities	642,395		631,959
Money market funds	657,605		657,605
Total investments available for sale	$	6,231,018	$	5,876,721

The components of realized investment (losses) gains, net on the consolidated statements of comprehensive income were as follows:


	Year Ended December 31,
(In thousands)	2024		2023		2022
Realized gross gains	$	495	$	1,219	$	14,420
Realized gross losses	2,322		8,246		14,864
Impairment loss	523		177		12,728

The fair value of investments available for sale in an unrealized loss position and the related unrealized losses for which no allowance for credit loss has been recorded were as follows:


	Less than 12 months				12 months or more				Total
December 31, 2024 (In thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Treasury securities	$	141,789	$	(1,620)	$	279,143	$	(13,268)	$	420,932	$	(14,888)

U.S. agency mortgage-backed securities	476,695		(13,028)		629,036		(110,837)		1,105,731		(123,865)
Municipal debt securities	204,810		(5,688)		282,312		(43,422)		487,122		(49,110)
Non-U.S. government securities	4,146		(262)		65,652		(11,571)		69,798		(11,833)
Corporate debt securities	898,449		(25,547)		725,148		(80,118)		1,623,597		(105,665)
Residential and commercial mortgage securities	39,931		(1,168)		421,891		(40,886)		461,822		(42,054)
Asset-backed securities	188,475		(2,701)		164,683		(8,336)		353,158		(11,037)

Total	$	1,954,295	$	(50,014)	$	2,567,865	$	(308,438)	$	4,522,160	$	(358,452)


	Less than 12 months				12 months or more				Total
December 31, 2023 (In thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Treasury securities	$	139,398	$	(1,075)	$	355,921	$	(18,053)	$	495,319	$	(19,128)

U.S. agency securities	5,572		(2)		1,623		(2)		$	7,195	$	(4)
U.S. agency mortgage-backed securities	129,359		(1,616)		654,018		(100,383)		783,377		(101,999)
Municipal debt securities	59,301		(987)		297,039		(43,462)		356,340		(44,449)
Non-U.S. government securities	—		—		67,447		(10,069)		67,447		(10,069)
Corporate debt securities	119,764		(733)		905,606		(87,170)		1,025,370		(87,903)
Residential and commercial mortgage securities	31,936		(999)		459,789		(52,510)		491,725		(53,509)
Asset-backed securities	65,195		(347)		459,324		(19,029)		524,519		(19,376)

Total	$	550,525	$	(5,759)	$	3,200,767	$	(330,678)	$	3,751,292	$	(336,437)

At December 31, 2024 and 2023, we held 2,481 and 2,256 individual investment securities, respectively, that were in an unrealized loss position. We assess our intent to sell these securities and whether we will be required to sell these securities before the recovery of their amortized cost basis when determining whether to record an impairment on the securities in an unrealized loss position. In assessing whether the decline in the fair value at December 31, 2024 of any of these securities resulted from a credit loss or other factors, we made inquiries of our investment managers to determine that each issuer was current on its scheduled interest and principal payments. We reviewed the credit rating of these securities noting that 98% of the securities at December 31, 2024 had investment-grade ratings. We concluded that gross unrealized losses noted above were primarily associated with the changes in interest rates subsequent to purchase rather than due to credit impairment. We recorded impairments of $0.5 million, $0.2 million and $12.7 million in the years ended December 31, 2024, 2023 and 2022, respectively. The impairments resulted from our intent to sell these securities subsequent to a reporting date.

The Company's other invested assets at December 31, 2024 and December 31, 2023 totaled $303.9 million and $277.2 million, respectively. Other invested assets are principally comprised of limited partnership interests which are generally accounted for under the equity method or fair value using net asset value (or its equivalent) as a practical expedient. Our proportionate share of earnings or losses or changes in fair value are reported in income from other invested assets on the consolidated statements of comprehensive income. For entities accounted for under the equity method that follow industry-specific guidance for investment companies, our proportionate share of earnings or losses includes changes in the fair value of the underlying assets of these entities. Due to the timing of receiving financial information from these partnerships, the results are generally reported on a one month or quarter lag.

Other invested assets that are accounted for at fair value using the net asset value (or its equivalent) as a practical expedient totaled $171.7 million as of December 31, 2024. The majority of these investments were in limited partnerships invested in real estate or consumer credit. At December 31, 2024, maximum future funding commitments were $45.1 million. For limited partnership investments that have a contractual expiration date, we expect the liquidation of the underlying assets to

occur over the next two to nine years. For certain of these investments, the Company does not have the contractual option to redeem but receives distributions based on the liquidation of the underlying assets. In addition, the Company generally does not have the ability to sell or transfer these investments without the consent from the general partner of individual limited partnerships.

The fair value of investments deposited with insurance regulatory authorities to meet statutory requirements was $9.3 million at December 31, 2024 and $9.2 million at December 31, 2023. In connection with its insurance and reinsurance activities, Essent Re is required to maintain assets in trusts for the benefit of its contractual counterparties. The fair value of the investments on deposit in these trusts was $983.5 million at December 31, 2024 and $1,060.0 million at December 31, 2023. Essent Guaranty is also required to maintain assets on deposit for the benefit of the sponsor of a fixed income investment commitment. The fair value of the assets on deposit was $9.3 million at December 31, 2024 and $9.2 million at December 31, 2023.

Net investment income consists of:


	Year Ended December 31,
(In thousands)	2024		2023		2022
Fixed maturities	$	186,345	$	178,829	$	129,530
Short-term investments	40,856		13,651		2,319
Gross investment income	227,201		192,480		131,849
Investment expenses	(5,131)		(6,341)		(7,440)
Net investment income	$	222,070	$	186,139	$	124,409

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table shows the rollforward of accumulated other comprehensive income (loss) for the year ended December 31:


	2024						2023
(In thousands)	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Balance at beginning of year	$	(322,992)	$	42,496	$	(280,496)	$	(443,230)	$	60,440	$	(382,790)
Other comprehensive income (loss):
Unrealized holding gains (losses) on investments:
Unrealized holding gains (losses) arising during the year	(33,656)		8,260		(25,396)		113,034		(16,633)		96,401
Less: Reclassification adjustment for losses (gains) included in net income (1)	2,350		(442)		1,908		7,204		(1,311)		5,893
Net unrealized gains (losses) on investments	(31,306)		7,818		(23,488)		120,238		(17,944)		102,294
Other comprehensive gain (loss)	(31,306)		7,818		(23,488)		120,238		(17,944)		102,294
Balance at end of year	$	(354,298)	$	50,314	$	(303,984)	$	(322,992)	$	42,496	$	(280,496)

_______________________________________________________________________________

(1)Included in net realized investments gains on our consolidated statements of comprehensive income.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Investments	Investments Our fixed maturity and short-term investments are classified as available for sale as we may sell securities from time to time to provide liquidity and in response to changes in the market. Debt securities classified as available for sale are reported at fair value with unrealized gains and losses on these securities reported in other comprehensive income, net of deferred income taxes. See Note 15 for a description of the valuation methods for investments available for sale. We monitor our fixed maturities for unrealized losses that appear to be the result of credit losses. A fixed maturity security is considered to be impaired when the security's fair value is less than its amortized cost basis and 1) we intend to sell the security, 2) it is more likely than not that we will be required to sell the security before recovery of the security's amortized cost basis, or 3) we believe we will be unable to recover the entire amortized cost basis of the security (i.e., a credit loss has occurred). When we determine that a credit loss has been incurred, but we do not intend to sell the security and it is not more likely than not that we will be required to sell the security before recovery of the security's amortized cost basis, the unrealized loss is separated into the portion of the impairment that is credit related and the portion of the impairment that is due to other factors. For those fixed maturities for which a credit loss has occurred, the impairment amount is calculated as the difference between the amortized cost and the present value of future expected cash flows, limited by the amount that the fair value is less than the amortized cost basis. Estimates of expected future cash flows consider among other things, macroeconomic conditions as well as the financial condition, near-term and long-term prospects for the issuer, and the likelihood of the recoverability of principal and interest. Credit losses are recognized through an allowance account subject to reversal. Declines in value attributable to factors other than credit are reported as an unrealized loss in other comprehensive income while the allowance for credit loss is record a realized loss in the consolidated statements of comprehensive income. We recognize purchase premiums and discounts in interest income using the interest method over the securities' estimated holding periods, until maturity, or call date, if applicable. Gains and losses on the sales of securities are recorded on the trade date and are determined using the specific identification method. Short-term investments are defined as short-term, highly liquid investments, both readily convertible to cash and having maturities at acquisition of twelve months or less.
Investments, Other Invested Assets	Other invested assets are principally comprised of limited partnership interests which are generally accounted for under the equity method of accounting or fair value using net asset value (or its equivalent) as a practical expedient, with changes in value reported in income from other invested assets. In applying the equity method or fair value using net asset value (or its equivalent) as a practical expedient, these investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of the net income or loss of the partnership or changes in fair value. We have elected to classify distributions received from these investments using the cumulative earnings approach for purposes of classification in the statements of cash flows. Due to the timing of receiving financial information from these partnerships, the results are generally reported on a one month or quarter lag.
Long-Lived Assets	Long-Lived Assets Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Repairs and maintenance are charged to expense as incurred. Estimated useful lives are 5 years for furniture and fixtures and 2 to 3 years for equipment, computer hardware and purchased software. Certain costs associated with the acquisition or development of internal-use software are capitalized. Once the software is ready for its intended use, these costs are amortized on a straight-line basis over the software's expected useful life, which is generally 3 years. We amortize leasehold improvements over the shorter of the lives of the leases or estimated service lives of the leasehold improvements.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs We defer certain personnel costs and premium tax expense directly related to the successful acquisition of new insurance policies and amortize these costs over the period the related estimated gross profits are recognized in order to match costs and revenues. We do not defer any underwriting costs associated with our contract underwriting services. Costs related to the acquisition of mortgage insurance business are initially deferred and reported as deferred policy acquisition costs. Consistent with industry accounting practice, amortization of these costs for each underwriting year book of business is recognized in proportion to estimated gross profits. Estimated gross profits are composed of earned premium, interest income, losses and loss adjustment expenses. The deferred costs are adjusted as appropriate for policy cancellations to be consistent with our revenue recognition policy. We estimate the rate of amortization to reflect actual experience and any changes to persistency or loss development. Deferred policy acquisition costs are reviewed periodically to determine that they do not exceed recoverable amounts, after considering investment income.
Goodwill and Acquired Intangible Assets, Net	Goodwill and Acquired Intangible Assets, Net Goodwill is an asset representing the estimated future economic benefits arising from the assets we have acquired that were not individually identified and separately recognized. Goodwill is deemed to have an indefinite useful life and is subject to review for impairment annually, or more frequently whenever circumstances indicate potential impairment at the reporting unit level. A reporting unit represents a business for which discrete financial information is available. We generally perform our annual goodwill impairment test during the fourth quarter of each year to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. An impairment charge is recognized for any excess of the reporting unit’s carrying amount over the reporting unit’s estimated fair value, up to the full amount of the goodwill allocated to the reporting unit. Our acquired intangible assets, other than goodwill, primarily consist of customer relationships and represent the value of the specifically acquired customer relationships. For financial reporting purposes, intangible assets with finite lives are amortized over their applicable estimated useful lives in a manner that approximates the pattern of expected economic benefit from each intangible asset. Other acquired intangible assets also include title plants and records, which are carried at original cost. Such values represent the cost of producing or acquiring interests in title records and indexes and the appraised value of purchased subsidiaries' title records and indexes at dates of acquisition. The cost of maintaining, updating, and operating title records is charged to income as incurred. Title records and indexes are not amortized unless events or circumstances indicate that the carrying amount of the capitalized costs may not be recoverable.
Insurance Premium Revenue Recognition	Insurance Premium Revenue Recognition Mortgage guaranty insurance policies are contracts that are generally non-cancelable by the insurer, are renewable at a fixed price, and provide for payment of premium on a monthly, annual or single basis. Upon renewal, we are not able to re-underwrite or re-price our policies. Consistent with industry accounting practices, premiums written on a monthly basis are earned as coverage is provided. Monthly policies accounted for approximately 93% of earned premium in 2024. Premiums written on an annual basis are amortized on a pro rata basis over the year of coverage. Primary mortgage insurance written on policies covering more than one year are referred to as single premium policies. A portion of the revenue from single premium policies is recognized in earned premium in the current period, and the remaining portion is deferred as unearned premium and earned over the expected life of the policy. If single premium policies related to insured loans are cancelled due to repayment by the borrower, and the premium is non-refundable, then the remaining unearned premium related to each cancelled policy is recognized as earned premium upon notification of the cancellation. The Company recorded $5.4 million and $6.3 million of earned premium related to policy cancellations for the years ended December 31, 2024 and 2023, respectively. Unearned premium represents the portion of premium written that is applicable to the estimated unexpired risk of insured loans. Rates used to determine the earning of single premium policies are estimates based on an analysis of the expiration of risk. Revenues from title policies issued by agents are recorded when notice of issuance is received from the agent, which is generally when cash payment is received by the Company. A significant portion of our premium revenue relates to master policies with certain lending institutions. For the year ended December 31, 2024 one lender represented approximately 17% of our total revenue. The loss of this customer could have a significant impact on our revenues and results of operations.
Reserve for Losses and Loss Adjustment Expenses	Reserve for Losses and Loss Adjustment Expenses We establish mortgage insurance reserves for losses based on our best estimate of ultimate claim costs for defaulted loans using the general principles contained in ASC No. 944, in accordance with industry practice. However, consistent with industry standards for mortgage insurers, we do not establish loss reserves for future claims on insured loans which are not currently in default. Loans are classified as in default when the borrower has missed two consecutive payments. Once we are notified that a borrower has defaulted, we will consider internal and third-party information and models, including the status of the loan as reported by its servicer and the type of loan product to determine the likelihood that a default will reach claim status. In addition, we will project the amount that we will pay if a default becomes a claim (referred to as "claim severity"). Based on this information, at each reporting date we determine our best estimate of loss reserves at a given point in time. Included in loss reserves are reserves for incurred but not reported ("IBNR") claims. IBNR reserves represent our estimated unpaid losses on loans that are in default, but have not yet been reported to us as delinquent by our customers. We will also establish reserves for associated loss adjustment expenses, consisting of the estimated cost of the claims administration process, including legal and other fees and expenses associated with administering the claims process. Establishing reserves is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. Our estimates of claim rates and claim sizes will be strongly influenced by prevailing economic conditions, such as the overall state of the economy, current rates or trends in unemployment, changes in housing values and/or interest rates, and our best judgments as to the future values or trends of these macroeconomic factors. Losses incurred are also generally affected by the characteristics of our insured loans, such as the loan amount, loan-to-value ratio, the percentage of coverage on the insured loan and the credit quality of the borrower. Our reserve for title insurance claim losses includes reserves for known claims as well as for losses that have been incurred but not yet reported to us (“IBNR”), net of recoupments. We reserve for each known claim based on our review of the estimated amount of the claim and the costs required to settle the claim. Reserves for IBNR claims are estimates that are established at the time the premium revenue is recognized and are based upon historical experience and other factors, including industry trends, claim loss history, legal environment, geographic considerations, and the types of policies written. We also reserve for losses arising from closing and disbursement functions due to fraud or operational error.
Premium Deficiency Reserve	Premium Deficiency Reserve We are required to establish a premium deficiency reserve if the net present value of the expected future losses and expenses for a particular group of policies exceeds the net present value of expected future premium, anticipated investment income and existing reserves for that specified group of policies. We reassess our expectations for premium, losses and expenses of our mortgage insurance business periodically and update our premium deficiency analysis accordingly.
Derivative Instruments	Derivative Instruments Derivative instruments, including embedded derivative instruments, are recognized at fair value in the consolidated balance sheets. The amount of monthly reinsurance premiums ceded under our reinsurance contracts will fluctuate due to changes in one-month SOFR and changes in money market rates. As the reinsurance premium will vary based on changes in these rates, we concluded that these reinsurance agreements contain embedded derivatives that are accounted for separately like freestanding derivatives.
Stock-Based Compensation	Stock-Based Compensation We measure the cost of employee services received in exchange for awards of equity instruments at the grant date of the award using a fair value based method. Quoted market prices are used for the valuation of common shares granted that do not contain a market condition under ASC 718. The performance-based share awards granted beginning in 2021 contain a market condition and were valued based on analysis provided by a third-party valuation firm using a risk neutral simulation and considering the vesting conditions of the grant. We recognize compensation expense on nonvested shares over the vesting period of the award. Excess tax benefits and tax deficiencies associated with share-based payments are recognized as income tax expense or benefit in the income statement and treated as discrete items in the reporting period.
Income Taxes	Income Taxes Deferred income tax assets and liabilities are determined using the asset and liability (balance sheet) method. Under this method, we determine the net deferred tax asset or liability based on the tax effects of the temporary differences between the book and tax bases of the various assets and liabilities and give current recognition to changes in tax rates and laws. Changes in tax laws, rates, regulations and policies, or the final determination of tax audits or examinations, could materially affect our tax estimates. We evaluate the realizability of the deferred tax asset and recognize a valuation allowance if, based on the weight of all available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. When evaluating the realizability of the deferred tax asset, we consider estimates of expected future taxable income, existing and projected book/tax differences, carryback and carryforward periods, tax planning strategies available, and the general and industry specific economic outlook. This realizability analysis is inherently subjective, as it requires management to forecast changes in the mortgage market, as well as the related impact on mortgage insurance, and the competitive and general economic environment in future periods. Changes in the estimate of deferred tax asset realizability, if applicable, are included in income tax expense on the consolidated statements of comprehensive income. ASC No. 740 provides a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In accordance with ASC No. 740, before a tax benefit can be recognized, a tax position is evaluated using a threshold that it is more likely than not that the tax position will be sustained upon examination. When evaluating the more-likely-than-not recognition threshold, ASC No. 740 provides that a company should presume the tax position will be examined by the appropriate taxing authority that has full knowledge of all relevant information. If the tax position meets the more-likely-than-not recognition threshold, it is initially and subsequently measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. As described in Note 12, we purchase non-interest-bearing United States Mortgage Guaranty Tax and Loss Bonds ("T&L Bonds") issued by the Treasury Department. These assets are carried at cost and are reported as prepaid federal income tax on the consolidated balance sheets. It is our policy to classify interest and penalties as income tax expense and to use the aggregate portfolio approach to release income tax effects from accumulated other comprehensive income.
Earnings per Share	Earnings per Share Basic earnings per common share amounts are calculated based on income available to common stockholders and the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share amounts are calculated based on income available to common stockholders and the weighted average number of common and potential common shares outstanding during the reporting period. Potential common shares, composed of the incremental common shares issuable upon vesting of unvested common shares and common share units, are included in the earnings per share calculation to the extent that they are dilutive.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Accounting Standards Adopted During the Period In June 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. This update clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and requires specific disclosures related to such an equity security. The update clarifies that a contractual sale restriction prohibiting the sale of an equity security is a characteristic of the reporting entity holding the equity security and is not included in the equity security's unit of account. Accordingly, an entity should not consider the contractual sale restriction when measuring the equity security’s fair value. The update also requires specific disclosures related to equity securities that are subject to contractual sale restrictions, including (1) the fair value of such equity securities reflected in the balance sheet, (2) the nature and remaining duration of the corresponding restrictions, and (3) any circumstances that could cause a lapse in the restrictions. The ASU was effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The adoption of this ASU did not have a material effect on the Company's consolidated operating results or financial position. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. The ASU requires that public entities disclose significant expense categories and amounts for each reportable segment, which are derived from expenses that are 1) regularly reported to an entity’s chief operating decision-maker ("CODM") and 2) included in a segment’s reported measures of profit or loss. Public entities must also disclose an amount for “other segment items,” representing the difference between 1) segment revenue less significant segment expenses and 2) the reportable segment’s profit or loss measures. A description of the composition of “other segment items” also is required as well as the title and position of the CODM and entities must explain how the CODM uses the reported measures of profit or loss to assess segment performance. The ASU also requires interim disclosure of certain segment-related disclosures that previously were required only on an annual basis and clarifies that entities with a single reportable segment will be subject to both new and existing segment reporting requirements under Topic 280. It also clarifies that an entity is permitted to disclose multiple measures of segment profit or loss, provided that certain criteria are met. The ASU was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Entities must adopt the changes to the segment reporting guidance on a retrospective basis. Upon the adoption of the accounting standard, the Company has disclosed required segment information with Footnote 18: Segment Reporting. Accounting Standards Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid, including taxes paid by jurisdiction. The ASU will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively, with early adoption permitted. The Company is currently evaluating the impact that the ASU will have on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”) and in January 2025, the FASB issued ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. ASU 2024-03 will require the Company to disclose the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization, as applicable, included in certain expense captions in the Consolidated Statements of Operations, as well as qualitatively describe remaining amounts included in those captions. ASU 2024-03 will also require the Company to disclose both the amount and the Company’s definition of selling expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact that the ASU will have on our consolidated financial statements.
Fair Value of Financial Instruments	Fair Value of Financial Instruments We carry certain of our financial instruments at fair value. We define fair value as the current amount that would be exchanged to sell an asset or transfer a liability, other than in a forced liquidation. Fair Value Hierarchy ASC No. 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. The level within the fair value hierarchy to measure the financial instrument shall be determined based on the lowest level input that is significant to the fair value measurement. The three levels of the fair value hierarchy are as follows: •Level 1—Quoted prices for identical instruments in active markets accessible at the measurement date. •Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and valuations in which all significant inputs are observable in active markets. Inputs are observable for substantially the full term of the financial instrument. •Level 3—Valuations derived from one or more significant inputs that are unobservable. Determination of Fair Value When available, we generally use quoted market prices to determine fair value and classify the financial instrument in Level 1. In cases where quoted market prices for similar financial instruments are available, we utilize these inputs for valuation techniques and classify the financial instrument in Level 2. In cases where quoted market prices are not available, fair values are based on estimates using discounted cash flows, present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rates and estimates of future cash flows and we classify the financial instrument in Level 3. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. We used the following methods and assumptions in estimating fair values of financial instruments: •Investments available for sale—Investments available for sale are valued using quoted market prices in active markets, when available, and those investments are classified as Level 1 of the fair value hierarchy. Level 1 investments available for sale include investments such as U.S. Treasury securities and money market funds. Investments available for sale are classified as Level 2 of the fair value hierarchy if quoted market prices are not available and fair values are estimated using quoted prices of similar securities or recently executed transactions for the securities. U.S. agency securities, U.S. agency mortgage-backed securities, municipal debt securities, non-U.S. government securities, corporate debt securities, residential and commercial mortgage securities and asset-backed securities are classified as Level 2 investments. We use independent pricing sources to determine the fair value of securities available for sale in Level 1 and Level 2 of the fair value hierarchy. We use one primary pricing service to provide individual security pricing based on observable market data and receive one quote per security. To ensure securities are appropriately classified in the fair value hierarchy, we review the pricing techniques and methodologies of the independent pricing service and believe that their policies adequately consider market activity, either based on specific transactions for the issue valued or based on modeling of securities with similar credit quality, duration, yield and structure that were recently traded. U.S. agency securities, U.S. agency mortgage-backed securities, municipal debt securities, non-U.S. government securities, and corporate debt securities are valued by our primary vendor using recently executed transactions and proprietary models based on observable inputs, such as interest rate spreads, yield curves and credit risk. Residential and commercial mortgage securities and asset-backed securities are valued by our primary vendor using proprietary models based on observable inputs, such as interest rate spreads, prepayment speeds and credit risk. As part of our evaluation of investment prices provided by our primary pricing service, we obtained and reviewed their pricing methodologies which include a description of how each security type is evaluated and priced. We review the reasonableness of prices received from our primary pricing service by comparison to prices obtained from additional pricing sources. We have not made any adjustments to the prices obtained from our primary pricing service.

Segment Reporting - Narrative (Details)	12 Months Ended
Segment Reporting - Narrative (Details)	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	2

Investments - Narrative (Details) $ in Thousands	12 Months Ended
Investments - Narrative (Details) $ in Thousands	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
Number of investment securities in unrealized loss position \| security	2,481	2,256
Impairment loss	$ 523	$ 177	$ 12,728
Other invested assets	303,900	277,226
Fair value of investments deposited with insurance regulatory authorities to meet statutory requirements	9,300	9,200
Essent Re
Debt Securities, Available-for-sale [Line Items]
Fair value of the required investments on deposit in trusts	983,500	1,060,000
Essent Guaranty
Debt Securities, Available-for-sale [Line Items]
Assets on deposit for the benefit of the sponsor	9,300	$ 9,200
Limited Partnership Investment
Debt Securities, Available-for-sale [Line Items]
Other assets, fair value	171,700
Investment company, committed capital	$ 45,100
Limited Partnership Investment \| Minimum
Debt Securities, Available-for-sale [Line Items]
Investment company, asset liquidation period	2 years
Limited Partnership Investment \| Maximum
Debt Securities, Available-for-sale [Line Items]
Investment company, asset liquidation period	9 years
Securities \| Credit Concentration Risk \| Internal Investment Grade
Debt Securities, Available-for-sale [Line Items]
Concentration risk, percentage	98.00%

Summary of Significant Accounting Policies - Long-Lived Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Long-Lived Assets
Cost	$ 84,129	$ 80,231
Accumulated Depreciation/ Amortization	$ (72,270)	(71,168)
Furniture and fixtures
Long-Lived Assets
Estimated useful lives	5 years
Cost	$ 5,715	4,244
Accumulated Depreciation/ Amortization	$ (3,054)	(2,463)
Equipment, computer hardware and purchased software \| Minimum
Long-Lived Assets
Estimated useful lives	2 years
Equipment, computer hardware and purchased software \| Maximum
Long-Lived Assets
Estimated useful lives	3 years
Costs of internal-use software
Long-Lived Assets
Estimated useful lives	3 years
Cost	$ 13,785	13,785
Accumulated Depreciation/ Amortization	(13,418)	(12,593)
Office equipment
Long-Lived Assets
Cost	2,094	1,672
Accumulated Depreciation/ Amortization	(1,327)	(982)
Computer hardware
Long-Lived Assets
Cost	12,202	12,556
Accumulated Depreciation/ Amortization	(11,873)	(11,273)
Purchased software
Long-Lived Assets
Cost	38,028	40,266
Accumulated Depreciation/ Amortization	(37,111)	(39,271)
Leasehold improvements
Long-Lived Assets
Cost	12,305	7,708
Accumulated Depreciation/ Amortization	$ (5,487)	$ (4,586)

Schedule II - Condensed Financial Information of Registrant - Supplementary Notes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2024
Related Party
Condensed Financial Information of Registrant
Dividends paid to parent company	$ 300,000,000	$ 60,000,000	$ 0
Essent Guaranty \| Related Party
Condensed Financial Information of Registrant
Unassigned surplus	396,600,000
Amount available for dividend distribution				$ 396,600,000
Essent Guaranty \| Affiliated Entity
Condensed Financial Information of Registrant
Dividends paid to parent company	165,500,000	295,000,000	$ 315,000,000
Essent Re \| Affiliated Entity
Condensed Financial Information of Registrant
Amount available for dividend distribution				$ 441,900,000
Dividends paid to parent company	$ 300,000,000	$ 60,000,000

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Mark Casale [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 5, 2024, Mark Casale, the Company’s President and Chief Executive Officer, entered into a 10b5-1 sales plan (the “Casale Plan”) intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. On December 2. 2024, Mr. Casale terminated the Casale Plan in its entirety. No shares were sold under the Casale Plan prior to its termination.
Name	Mark Casale
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 2. 2024
Mary Gibbons [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 14, 2024, Mary Gibbons, the Company’s Senior Vice President and Chief Legal Officer, entered into a 10b5-1 sales plan (the “Gibbons Sales Plan”) intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The Gibbons Sales Plan provides for the sale of up to an aggregate of 26,610 shares of the Company’s common stock beneficially owned by Ms. Gibbons during the term of the Gibbons Sales Plan and will be in effect until the earlier of (1) December 31, 2025 and (2) the date on which an aggregate of 26,610 shares of the Company’s common stock have been sold under the Gibbons Sales Plan.
Name	Mary Gibbons
Title	Senior Vice President and Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 14, 2024
Expiration Date	December 31, 2025
Arrangement Duration	382 days
Aggregate Available	26,610	26,610

Capital Stock - Narrative (Details)	1 Months Ended	3 Months Ended												12 Months Ended
Capital Stock - Narrative (Details)	Feb. 28, 2025 USD ($) $ / shares	Dec. 31, 2024 vote $ / shares shares	Sep. 30, 2024 $ / shares	Jun. 30, 2024 $ / shares	Mar. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares shares	Sep. 30, 2023 $ / shares	Jun. 30, 2023 $ / shares	Mar. 31, 2023 $ / shares	Dec. 31, 2022 USD ($) $ / shares	Sep. 30, 2022 $ / shares	Jun. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Dec. 31, 2024 USD ($) vote $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Oct. 31, 2023 USD ($)	May 31, 2022 USD ($)
Dividends Payable [Line Items]
Authorized share capital (in shares) \| shares		233,333,000				233,333,000								233,333,000	233,333,000
Number of votes per share \| vote		1												1
Shareholder ownership threshold for voting rights														9.50%
Maximum number of votes per share for certain shareholders under 9.5% shareholder provision \| vote		1												1
Minimum number of votes per share for other shareholders under 9.5% shareholder provision \| vote		1												1
Quarterly cash dividends declared (in dollars per share) \| $ / shares		$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.23	$ 0.22	$ 0.21	$ 0.20	$ 1.12	$ 1.00	$ 0.86
Share repurchase approved amount																	$ 250,000,000
Subsequent Event
Dividends Payable [Line Items]
Quarterly cash dividends declared (in dollars per share) \| $ / shares	$ 0.31
Share repurchase approved amount	$ 500,000,000
Share Repurchase Plan 2021
Dividends Payable [Line Items]
Stock repurchased (in shares) \| shares																2,136,961
Stock repurchased, value																$ 92,200,000
Share Repurchase Plan 2022
Dividends Payable [Line Items]
Stock repurchased (in shares) \| shares															1,535,368	0
Stock repurchased, value															$ 65,600,000
Share repurchase approved amount										$ 250,000,000						$ 250,000,000		$ 250,000,000
Share Repurchase Plan 2024
Dividends Payable [Line Items]
Stock repurchased (in shares) \| shares														1,859,695
Stock repurchased, value														$ 102,700,000

Acquisitions - Schedule of Pro forma (Details) - Boston National Title - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Revenues	$ 1,153,872	$ 1,131,032
Earnings	$ 690,327	$ 815,730

Nature of Operations and Basis of Presentation	12 Months Ended
Nature of Operations and Basis of Presentation	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation Essent Group Ltd. (“Essent Group”) is a Bermuda-based holding company, which, through its wholly-owned subsidiaries, offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Mortgage insurance facilitates the sale of low down payment (generally less than 20%) mortgage loans into the secondary mortgage market, primarily to two government-sponsored enterprises ("GSEs"), Fannie Mae and Freddie Mac. The U.S. mortgage insurance operations are conducted through Essent Guaranty, Inc. ("Essent Guaranty"), which is domiciled in the state of Pennsylvania. Essent Guaranty is headquartered in Radnor, Pennsylvania and maintains an operations center in Winston-Salem, North Carolina. Essent Guaranty is approved as a qualified mortgage insurer by the GSEs and is licensed to write mortgage insurance in all 50 states and the District of Columbia. Essent Guaranty reinsures new insurance written ("NIW") to Essent Reinsurance Ltd. (“Essent Re”), an affiliated Bermuda-domiciled Class 3B Insurer licensed pursuant to Section 4 of the Bermuda Insurance Act 1978 that provides insurance and reinsurance coverage of mortgage credit risk. In April 2021, Essent Guaranty and Essent Re agreed to increase the quota share reinsurance coverage provided by Essent Re from 25% to 35% effective January 1, 2021. The quota share reinsurance coverage provided for Essent Guaranty's NIW prior to January 1, 2021 will continue to be 25%, the quota share percentage in effect at the time NIW was first ceded. Essent Re also provides insurance and reinsurance to Freddie Mac and Fannie Mae. In 2016, Essent Re formed Essent Agency (Bermuda) Ltd., a wholly-owned subsidiary, which provides underwriting consulting services to third-party reinsurers. Prior to December 31, 2024, Essent Guaranty also reinsured that portion of the risk that is in excess of 25% of the mortgage balance with respect to any loan insured prior to April 1, 2019, after consideration of other reinsurance, to Essent Guaranty of PA, Inc. (“Essent PA”), an affiliate domiciled in the state of Pennsylvania. On December 31, 2024, Essent Guaranty and Essent PA entered into a commutation and release agreement in which all outstanding risk in force assumed by Essent PA was commuted back to Essent Guaranty in exchange for cash. Upon the commutation and release, Essent PA surrendered its insurance license and is no longer an insurance subsidiary of Essent Group Ltd. as of December 31, 2024. In addition to offering mortgage insurance, we provide contract underwriting services on a limited basis through CUW Solutions, LLC ("CUW Solutions"), a Delaware limited liability company, that provides, among other things, mortgage contract underwriting services to lenders and mortgage insurance underwriting services to affiliates. CUW Solutions is headquartered in Radnor, Pennsylvania and it maintains an operations center in Winston-Salem, North Carolina that is subleased from Essent Guaranty. As a result of our acquisitions of Agents National Title Insurance Company (renamed Essent Title Insurance, Inc. effective January 1, 2025) and Boston National Holdings LLC on July 1, 2023, we now offer title insurance products and title and settlement services. Our title insurance operations are headquartered in Radnor, Pennsylvania, with additional locations in Charlotte, North Carolina and Pittsburgh, Pennsylvania. We have one reportable business segment: Mortgage Insurance. Our Mortgage Insurance segment offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. We provide private mortgage insurance on residential first-lien mortgage loans (“U.S. mortgage insurance”) through our U.S. mortgage insurance subsidiary, Essent Guaranty, and also offer other credit risk management solutions, including contract underwriting, to our customers. Through our Bermuda-based reinsurance subsidiary, Essent Re, we reinsure U.S. mortgage risk primarily through the GSE credit risk transfer market (“GSE and other risk share”) and provide underwriting consulting services to third-party reinsurers. The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and include the accounts of Essent Group and its consolidated subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain amounts in prior years have been reclassified to conform to the current year presentation.

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Net deferred tax asset
Deferred tax assets	$ 81,769	$ 75,864
Deferred tax liabilities	(474,197)	(438,617)
Net deferred tax liability	(392,428)	(362,753)
Components of the net deferred tax asset
Contingency reserves	(459,555)	(425,360)
Unrealized (gain) loss on investments	47,725	45,226
Unearned premium reserve	12,318	11,978
Investments in limited partnerships	(12,918)	(11,258)
Accrued expenses	7,521	6,404
Fixed assets	5,445	4,433
Unearned ceding commissions	1,610	2,066
Change in fair market value of derivatives	2,436	1,972
Deferred policy acquisition costs	(1,450)	(1,779)
Nonvested shares	2,807	1,938
Loss reserves	1,295	1,033
Start-up expenditures, net	722	884
Impairments on available-for-sale investment securities	0	38
Prepaid expenses	(255)	(220)
Other	(129)	(108)
Net deferred tax liability	$ (392,428)	$ (362,753)

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Investments
Amortized Cost	$ 6,231,018	$ 5,586,730
Property, Plant and Equipment, Net
Accumulated depreciation	$ 72,270	$ 71,168
Stockholders' Equity
Common shares, par value (in dollars per share)	$ 0.015	$ 0.015
Common shares, authorized (in shares)	233,333	233,333
Common shares, issued (in shares)	105,015	106,597
Common shares, outstanding (in shares)	105,015	106,597
Fixed maturities
Investments
Amortized Cost	$ 5,467,238	$ 4,658,168
Short-term investments
Investments
Amortized Cost	$ 763,780	$ 928,562

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Lease Cost and Other Information

The following table presents lease cost and other lease information as of and for the years ended December 31:


	Year Ended December 31,
($ in thousands)	2024			2023			2022
Lease cost:
Operating lease cost	$	5,918		$	5,138		$	3,908
Short-term lease cost	207			128			—
Sublease income	(213)			(142)			(138)
Total lease cost	$	5,912		$	5,124		$	3,770
Other information:
Weighted average remaining lease term - operating leases	9.4 years			10.6 years			6.9 years
Weighted average discount rate - operating leases	4.6		%	4.5		%	3.6		%

Schedule of Lease Liability Maturity

The following table presents a maturity analysis of our lease liabilities as follows at December 31, 2024:


Year Ended December 31 (In thousands)
2025	$	5,853
2026	4,698
2027	4,621
2028	4,407
2029	4,320
2030 and thereafter	21,306
Total lease payments to be paid	45,205
Less: Future interest expense	(9,032)
Present value of lease liabilities	$	36,173

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2024

Reinsurance Disclosures [Abstract]

Schedule of Effects of Reinsurance

The effect of reinsurance on net premiums written and earned is as follows:


	Year Ended December 31,
(In thousands)	2024		2023		2022
Net premiums written:
Direct	$	1,098,603	$	1,028,781	$	927,702
Ceded (1)	(132,023)		(134,499)		(107,673)
Net premiums written	$	966,580	$	894,282	$	820,029

Net premiums earned:
Direct	$	1,122,905	$	1,051,405	$	950,200
Ceded (1)	(132,023)		(134,499)		(107,673)
Net premiums earned	$	990,882	$	916,906	$	842,527

_______________________________________________________________________________

(1)Net of profit commission.

The following tables summarizes Essent Guaranty's quota share reinsurance agreements as of December 31, 2024:

QSR Agreement

Coverage Period

Ceding Percentage

QSR-2019

September 1, 2019 - December 31, 2020

(1)

QSR-2022

January 1, 2022 - December 31, 2022

20%

QSR-2023

January 1, 2023 - December 31, 2023

17.5%

QSR-2024

January 1, 2024 - December 31, 2024

15.0%

________________________________________________________________________________________

(1) Under QSR-2019, Essent Guaranty cedes 40% of premiums on singles policies and 20% on all other policies.

Schedule of Coverages and Retentions

The following table summarizes Essent Guaranty's excess of loss coverages and retentions provided by insurance linked notes as of December 31, 2024:


(In thousands)
Deal Name	Vintage	Remaining Insurance in Force		Remaining Risk in Force		Remaining Reinsurance in Force		Remaining First Layer Retention		Optional Termination Date

Radnor Re 2021-1	Aug. 2020 - Mar. 2021	$	23,839,935	$	6,533,211	$	190,062	$	277,698	June 26, 2028
Radnor Re 2021-2	Apr. 2021 - Sep. 2021	29,757,565		8,243,653		265,134		276,141		November 25, 2027
Radnor Re 2022-1	Oct. 2021 - Jul. 2022	27,859,437		7,621,952		175,026		300,105		September 25, 2028
Radnor Re 2023-1	Aug. 2022 - Jun. 2023	28,058,061		7,690,718		268,320		280,559		July 25, 2028
Radnor Re 2024-1	Jul. 2023 - Jul. 2024	29,033,466		8,025,937		331,415		256,495		September 25, 2029
Total		$	138,548,464	$	38,115,471	$	1,229,957	$	1,390,998

The following table summarizes Essent Guaranty's excess of loss reinsurance coverages and retentions provided by panels of reinsurers as of December 31, 2024:


(In thousands)
Deal Name	Vintage	Remaining Insurance in Force		Remaining Risk in Force		Remaining Reinsurance in Force		Remaining First Layer Retention		Optional Termination Date
XOL 2019-1	Jan. 2018 - Dec. 2018	$	4,535,941	$	1,195,244	$	76,144	$	243,704	February 25, 2026
XOL 2020-1	Jan. 2019 - Dec. 2019	5,760,682		1,522,699		29,152		211,678		January 25, 2027
XOL 2022-1	Oct. 2021 - Dec. 2022	63,001,325		17,184,107		141,992		496,864		January 1, 2030
XOL 2023-1	Jan. 2023 - Dec. 2023	36,841,903		10,211,722		36,627		366,028		January 1, 2028
XOL 2024-1	Jan. 2024 - Dec. 2024	40,244,132		11,048,540		58,005		331,456		January 1, 2030
Total		$	150,383,983	$	41,162,312	$	341,920	$	1,649,730

Schedule of VIE Assets and Total Maximum Exposure to Loss


			Maximum Exposure to Loss
(In thousands)	Total VIE Assets		On - Balance Sheet		Off - Balance Sheet		Total




Radnor Re 2021-1 Ltd.	$	190,062	$	(5,560)	$	15	$	(5,545)
Radnor Re 2021-2 Ltd.	265,134		(5,863)		50		(5,813)
Radnor Re 2022-1 Ltd.	175,026		(167)		33		(134)
Radnor Re 2023-1 Ltd.	268,320		111		51		162
Radnor Re 2024-1 Ltd.	331,415		$	267	$	82	$	349
Total	$	1,229,957	$	(11,212)	$	231	$	(10,981)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Schedule I - Summary of Investments-Other Than Investments in Related Parties (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Investments-Other Than Investments in Related Parties
Amortized Cost	$ 6,534,918
Fair Value	6,180,621
Amount at which shown in the Balance Sheet	6,180,621
Fixed maturities
Investments-Other Than Investments in Related Parties
Amortized Cost	5,467,238
Fair Value	5,112,697
Amount at which shown in the Balance Sheet	5,112,697
Fixed maturities \| United States Government and government agencies and authorities
Investments-Other Than Investments in Related Parties
Amortized Cost	1,704,937
Fair Value	1,566,307
Amount at which shown in the Balance Sheet	1,566,307
Fixed maturities \| States, municipalities and political subdivisions
Investments-Other Than Investments in Related Parties
Amortized Cost	631,015
Fair Value	583,501
Amount at which shown in the Balance Sheet	583,501
Fixed maturities \| Residential and commercial mortgage securities
Investments-Other Than Investments in Related Parties
Amortized Cost	519,613
Fair Value	478,086
Amount at which shown in the Balance Sheet	478,086
Fixed maturities \| Asset-backed securities
Investments-Other Than Investments in Related Parties
Amortized Cost	642,395
Fair Value	631,959
Amount at which shown in the Balance Sheet	631,959
Fixed maturities \| Foreign government and agency securities
Investments-Other Than Investments in Related Parties
Amortized Cost	81,631
Fair Value	69,798
Amount at which shown in the Balance Sheet	69,798
Fixed maturities \| All other corporate bonds
Investments-Other Than Investments in Related Parties
Amortized Cost	1,887,647
Fair Value	1,783,046
Amount at which shown in the Balance Sheet	1,783,046
Short-term investments
Investments-Other Than Investments in Related Parties
Amortized Cost	763,780
Fair Value	764,024
Amount at which shown in the Balance Sheet	764,024
Other invested assets
Investments-Other Than Investments in Related Parties
Amortized Cost	303,900
Fair Value	303,900
Amount at which shown in the Balance Sheet	$ 303,900

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisition, Pro Forma Information

The following unaudited pro forma summary presents consolidated information for Essent as if the business combination had occurred on January 1, 2022.


	Pro Forma
	Year Ended December 31,
(In thousands)	2023		2022
Revenues	$	1,153,872	$	1,131,032
Earnings	690,327		815,730

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


	Originally Reported		Measurement Period Adjustments		As Reported
Consideration Paid:
Cash	$	92,625	$	(1,315)	$	91,310
Assets Acquired:
Cash and cash equivalents	5,864		—		5,864
Short-term investments	21,108		—		21,108
Fixed maturities available for sale	9,668		—		9,668
Identifiable intangible assets	26,300		(3,400)		22,900
Other assets	16,366		(2,297)		14,069
Liabilities Assumed:
Reserve for losses	14,613		(464)		14,149
Other liabilities	10,399		6,512		16,911
Total Identifiable Net Assets	54,294		(11,745)		42,549
Goodwill	$	38,331	$	10,430	$	48,761

Earnings per Share (EPS) - Schedule of Percent of Shares Issuable Under Terms of Agreement (Details)		12 Months Ended
	Mar. 01, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
2024 Performance-Based Grants
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting percentile		100.00%
Percentage of award issuable if current period end were end of contingency period		50.00%
2023 Performance-Based Grants
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting percentile		174.00%	200.00%
Percentage of award issuable if current period end were end of contingency period		87.00%	100.00%
2022 Performance-Based Grants
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting percentile		168.00%	200.00%	131.00%
Percentage of award issuable if current period end were end of contingency period		84.00%	100.00%	66.00%
2021 Performance-Based Grants
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting percentile	133.00%		133.00%	100.00%
Percentage of award issuable if current period end were end of contingency period			66.00%	50.00%

Investments (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments Available for Sale

Investments available for sale consist of the following:


December 31, 2024 (In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury securities	$	561,853	$	325	$	(14,888)	$	547,290

U.S. agency mortgage-backed securities	1,249,259		42		(123,865)		1,125,436
Municipal debt securities (1)	631,015		1,596		(49,110)		583,501
Non-U.S. government securities	81,631		—		(11,833)		69,798
Corporate debt securities (2)	1,887,647		1,064		(105,665)		1,783,046
Residential and commercial mortgage securities	519,613		527		(42,054)		478,086
Asset-backed securities	642,395		601		(11,037)		631,959
Money market funds	657,605		—		—		657,605
Total investments available for sale	$	6,231,018	$	4,155	$	(358,452)	$	5,876,721


December 31, 2023 (In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury securities	$	1,014,076	$	1,434	$	(19,128)	$	996,382
U.S. agency securities	7,199		—		(4)		7,195
U.S. agency mortgage-backed securities	922,907		438		(101,999)		821,346
Municipal debt securities (1)	585,047		6,660		(44,449)		547,258
Non-U.S. government securities	77,516		—		(10,069)		67,447
Corporate debt securities (2)	1,380,533		4,425		(87,903)		1,297,055
Residential and commercial mortgage securities	571,163		286		(53,509)		517,940
Asset-backed securities	584,168		203		(19,376)		564,995
Money market funds	444,121		—		—		444,121
Total investments available for sale	$	5,586,730	$	13,446	$	(336,437)	$	5,263,739

_______________________________________________________________________________


	December 31,		December 31,
(1) The following table summarizes municipal debt securities as of :	2024		2023
Special revenue bonds	83.3	%	81.4	%
General obligation bonds	16.7		18.6



Total	100.0	%	100.0	%


	December 31,		December 31,
(2) The following table summarizes corporate debt securities as of :	2024		2023
Financial	41.8	%	42.0	%
Consumer, Non-Cyclical	15.1		15.9
Industrial	8.2		8.1
Communications	5.7		7.2
Consumer, Cyclical	6.3		7.1
Utilities	8.7		6.3
Technology	6.4		6.2
Energy	5.1		4.7
Basic Materials	2.7		2.5

Total	100.0	%	100.0	%

Schedule of Amortized Cost and Fair Value of Investments Available for Sale by Contractual Maturity


(In thousands)	Amortized Cost		Fair Value
U.S. Treasury securities:
Due in 1 year	$	213,553	$	212,961
Due after 1 but within 5 years	301,532		292,711
Due after 5 but within 10 years	32,302		29,303
Due after 10 years	14,466		12,315
Subtotal	561,853		547,290




Municipal debt securities:
Due in 1 year	16,767		16,624
Due after 1 but within 5 years	84,229		81,905
Due after 5 but within 10 years	144,143		134,741
Due after 10 years	385,876		350,231
Subtotal	631,015		583,501
Non-U.S. government securities:
Due in 1 year	5,267		5,233
Due after 1 but within 5 years	32,032		30,792
Due after 5 but within 10 years	7,706		6,195
Due after 10 years	36,626		27,578
Subtotal	81,631		69,798
Corporate debt securities:
Due in 1 year	164,458		163,676
Due after 1 but within 5 years	505,921		489,307
Due after 5 but within 10 years	1,014,720		959,079
Due after 10 years	202,548		170,984
Subtotal	1,887,647		1,783,046
U.S. agency mortgage-backed securities	1,249,259		1,125,436
Residential and commercial mortgage securities	519,613		478,086
Asset-backed securities	642,395		631,959
Money market funds	657,605		657,605
Total investments available for sale	$	6,231,018	$	5,876,721

Schedule of Realized Gross Gains and Losses on Sale of Investments Available for Sale

The components of realized investment (losses) gains, net on the consolidated statements of comprehensive income were as follows:


	Year Ended December 31,
(In thousands)	2024		2023		2022
Realized gross gains	$	495	$	1,219	$	14,420
Realized gross losses	2,322		8,246		14,864
Impairment loss	523		177		12,728

Schedule of Fair Value of Investments in an Unrealized Loss Position and Related Unrealized Losses

The fair value of investments available for sale in an unrealized loss position and the related unrealized losses for which no allowance for credit loss has been recorded were as follows:


	Less than 12 months				12 months or more				Total
December 31, 2024 (In thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Treasury securities	$	141,789	$	(1,620)	$	279,143	$	(13,268)	$	420,932	$	(14,888)

U.S. agency mortgage-backed securities	476,695		(13,028)		629,036		(110,837)		1,105,731		(123,865)
Municipal debt securities	204,810		(5,688)		282,312		(43,422)		487,122		(49,110)
Non-U.S. government securities	4,146		(262)		65,652		(11,571)		69,798		(11,833)
Corporate debt securities	898,449		(25,547)		725,148		(80,118)		1,623,597		(105,665)
Residential and commercial mortgage securities	39,931		(1,168)		421,891		(40,886)		461,822		(42,054)
Asset-backed securities	188,475		(2,701)		164,683		(8,336)		353,158		(11,037)

Total	$	1,954,295	$	(50,014)	$	2,567,865	$	(308,438)	$	4,522,160	$	(358,452)


	Less than 12 months				12 months or more				Total
December 31, 2023 (In thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Treasury securities	$	139,398	$	(1,075)	$	355,921	$	(18,053)	$	495,319	$	(19,128)

U.S. agency securities	5,572		(2)		1,623		(2)		$	7,195	$	(4)
U.S. agency mortgage-backed securities	129,359		(1,616)		654,018		(100,383)		783,377		(101,999)
Municipal debt securities	59,301		(987)		297,039		(43,462)		356,340		(44,449)
Non-U.S. government securities	—		—		67,447		(10,069)		67,447		(10,069)
Corporate debt securities	119,764		(733)		905,606		(87,170)		1,025,370		(87,903)
Residential and commercial mortgage securities	31,936		(999)		459,789		(52,510)		491,725		(53,509)
Asset-backed securities	65,195		(347)		459,324		(19,029)		524,519		(19,376)

Total	$	550,525	$	(5,759)	$	3,200,767	$	(330,678)	$	3,751,292	$	(336,437)

Schedule of Net Investment Income

Net investment income consists of:


	Year Ended December 31,
(In thousands)	2024		2023		2022
Fixed maturities	$	186,345	$	178,829	$	129,530
Short-term investments	40,856		13,651		2,319
Gross investment income	227,201		192,480		131,849
Investment expenses	(5,131)		(6,341)		(7,440)
Net investment income	$	222,070	$	186,139	$	124,409

Commitments and Contingencies - Schedule of Lease Cost and Other Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lease cost:
Operating lease cost	$ 5,918	$ 5,138	$ 3,908
Short-term lease cost	207	128	0
Sublease income	(213)	(142)	(138)
Total lease cost	$ 5,912	$ 5,124	$ 3,770
Other information:
Weighted average remaining lease term - operating leases	9 years 4 months 24 days	10 years 7 months 6 days	6 years 10 months 24 days
Weighted average discount rate - operating leases	4.60%	4.50%	3.60%

Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Vale on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financial Assets:
Fair Value	$ 5,876,721	$ 5,263,739
Recurring
Financial Assets:
Total assets at fair value	5,876,721	5,263,739
Recurring \| U.S. Treasury securities
Financial Assets:
Fair Value	547,290	996,382
Recurring \| U.S. agency securities
Financial Assets:
Fair Value	0	7,195
Recurring \| U.S. agency mortgage-backed securities
Financial Assets:
Fair Value	1,125,436	821,346
Recurring \| Municipal debt securities
Financial Assets:
Fair Value	583,501	547,258
Recurring \| Non-U.S. government securities
Financial Assets:
Fair Value	69,798	67,447
Recurring \| Corporate debt securities
Financial Assets:
Fair Value	1,783,046	1,297,055
Recurring \| Residential and commercial mortgage securities
Financial Assets:
Fair Value	478,086	517,940
Recurring \| Asset-backed securities
Financial Assets:
Fair Value	631,959	564,995
Recurring \| Money market funds
Financial Assets:
Fair Value	657,605	444,121
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1)
Financial Assets:
Total assets at fair value	1,204,895	1,440,503
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| U.S. Treasury securities
Financial Assets:
Fair Value	547,290	996,382
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| U.S. agency securities
Financial Assets:
Fair Value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| U.S. agency mortgage-backed securities
Financial Assets:
Fair Value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| Municipal debt securities
Financial Assets:
Fair Value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| Non-U.S. government securities
Financial Assets:
Fair Value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| Corporate debt securities
Financial Assets:
Fair Value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| Residential and commercial mortgage securities
Financial Assets:
Fair Value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| Asset-backed securities
Financial Assets:
Fair Value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Instruments (Level 1) \| Money market funds
Financial Assets:
Fair Value	657,605	444,121
Recurring \| Significant Other Observable Inputs (Level 2)
Financial Assets:
Total assets at fair value	4,671,826	3,823,236
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. Treasury securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. agency securities
Financial Assets:
Fair Value	0	7,195
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. agency mortgage-backed securities
Financial Assets:
Fair Value	1,125,436	821,346
Recurring \| Significant Other Observable Inputs (Level 2) \| Municipal debt securities
Financial Assets:
Fair Value	583,501	547,258
Recurring \| Significant Other Observable Inputs (Level 2) \| Non-U.S. government securities
Financial Assets:
Fair Value	69,798	67,447
Recurring \| Significant Other Observable Inputs (Level 2) \| Corporate debt securities
Financial Assets:
Fair Value	1,783,046	1,297,055
Recurring \| Significant Other Observable Inputs (Level 2) \| Residential and commercial mortgage securities
Financial Assets:
Fair Value	478,086	517,940
Recurring \| Significant Other Observable Inputs (Level 2) \| Asset-backed securities
Financial Assets:
Fair Value	631,959	564,995
Recurring \| Significant Other Observable Inputs (Level 2) \| Money market funds
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3)
Financial Assets:
Total assets at fair value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. Treasury securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. agency securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. agency mortgage-backed securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Municipal debt securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Non-U.S. government securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Corporate debt securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Residential and commercial mortgage securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Asset-backed securities
Financial Assets:
Fair Value	0	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Money market funds
Financial Assets:
Fair Value	$ 0	$ 0

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivable consists of the following at December 31:


(In thousands)	2024		2023
Premiums receivable	$	50,150	$	51,851
Other receivables	5,414		11,415
Total accounts receivable	55,564		63,266
Less: Allowance for credit losses	—		—
Accounts receivable, net	$	55,564	$	63,266

Summary of Significant Accounting Policies - Deferred Policy Acquisition Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Policy Acquisition Costs
Policy acquisition costs deferred	$ 2.0	$ 2.6	$ 3.6
Other Underwriting and Operating Expenses
Deferred Policy Acquisition Costs
Amortization of deferred policy acquisition costs	$ 3.7	$ 4.4	$ 5.8

- Definition

Amount of amortization expense (reversal of expense) for deferred policy acquisition costs.

+ References + Details