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ESSENTⓇ GROUP Essent Group Ltd. Clarendon House 2 Church Street Hamilton HM 11 , Bermuda PRESS RELEASE FOR IMMEDIATE RELEASE Media Contact : 610-230-0556 media@essentgroup.com Investor Relations Contact : Christopher G. Curran 855-809 - ESNT ir@essentgroup.com Essent Group Ltd. Announces Second Quarter 2021 Results & ncreases Quarterly Dividend HAMILTON , Bermuda , August 6 , 2021 - Essent Group Ltd. ( NYSE : ESNT ) today reported net income for the quarter ended June 30 , 2021 of $ 159.8 million or $ 1.42 per diluted share , compared to $ 15.4 million or $ 0.15 per diluted share for the quarter ended June 30 , 2020 . Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $ 0.18 per common share . The dividend is payable on September 10 , 2021 , to shareholders of record on September 1 , 2021 . " We are pleased with our financial performance for the second quarter as we produced strong earnings and generated excess capital , " said Mark A. Casale , Chairman and Chief Executive Officer . " Our results reflect a favorable operating environment as credit continues to normalize and housing demand remains elevated . Our buy , manage and distribute model is operating on all cylinders and confidence in our economic engine remains high . ” Second Quarter 2021 Financial Highlights : Insurance in force as of June 30 , 2021 was $ 203.6 billion , compared to $ 197.1 billion as of March 31 , 2021 and $ 174.6 billion as of June 30 , 2020 . New insurance written for the second quarter was $ 25.0 billion , compared to $ 19.3 billion in the first quarter of 2021 and $ 28.2 billion in the second quarter of 2020 . Net premiums earned for the second quarter were $ 217.4 million , compared to $ 219.1 million in the first quarter of 2021 and $ 211.5 million in the second quarter of 2020 . The expense ratio for the second quarter was 18.9 % , compared to 19.3 % in the first quarter of 2021 and 18.4 % in the second quarter of 2020 . The provision for losses and LAE for the second quarter was $ 9.7 million , compared to a provision of $ 32.3 million in the first quarter of 2021 and a provision of $ 175.9 million in the second quarter of 2020 . The percentage of loans in default as of June 30 , 2021 was 2.96 % , compared to 3.70 % as of March 31 , 2021 and 5.19 % as of June 30 , 2020 . The combined ratio for the second quarter was 23.3 % , compared to 34.0 % in the first quarter of 2021 and 101.5 % in the second quarter of 2020 . The consolidated balance of cash and investments at June 30 , 2021 was $ 5.0 billion , including cash and investment balances at Essent Group Ltd. of $ 509.8 million . The combined risk - to - capital ratio of the U.S. mortgage insurance business , which includes statutory capital for both Essent Guaranty , Inc. and Essent Guaranty of PA , Inc. , was 10.6 : 1 as of June 30 , 2021 . On June 23 , 2021 , Essent Guaranty , Inc. obtained $ 557.9 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written by Essent in August 2020 through March 2021 from Radnor Re 2021-1 Ltd. , a newly formed Bermuda special purpose insurer . Radnor Re 2021-1 Ltd. is not a subsidiary or an affiliate of Essent Group Ltd. Conference Call : Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results . The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and presentations / events / default.aspx . The call may also be accessed by dialing 833-921-1656 inside the U.S. , or 236-389-2661 for international callers , using passcode 2073556 or by referencing Essent . A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year . A replay of the conference call will be available approximately two hours after the