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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 Third Quarter 2021 Results & Increases Quarterly Dividend HAMILTON , Bermuda , November 5 , 2021 - Essent Group Ltd. ( NYSE : ESNT ) today reported net income for the quarter ended September 30 , 2021 of $ 205.4 million or $ 1.84 per diluted share , compared to $ 124.5 million or $ 1.11 per diluted share for the quarter ended September 30 , 2020 . Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $ 0.19 per common share . The dividend is payable on December 10 , 2021 , to shareholders of record on December 1 , 2021 . " We are pleased with our strong financial results which continue to reflect a positive operating environment and ongoing strength in credit performance , " said Mark A. Casale , Chairman and Chief Executive Officer . " Our results for the quarter demonstrate the benefits of our economic engine in generating high quality earnings , strong returns and excess capital . In connection with our performance , we are pleased to announce that our Board has approved an increase in our quarterly dividend to $ 0.19 per share . " Third Quarter 2021 Financial Highlights : Insurance in force as of September 30 , 2021 was $ 208.2 billion , compared to $ 203.6 billion as of June 30 , 2021 and $ 190.8 billion as of September 30 , 2020 . New insurance written for the third quarter was $ 23.6 billion , compared to $ 25.0 billion in the second quarter of 2021 and $ 36.7 billion in the third quarter of 2020 . Net premiums earned for the third quarter were $ 218.7 million , compared to $ 217.4 million in the second quarter of 2021 and $ 222.3 million in the third quarter of 2020 . Income from other invested assets for the third quarter included $ 39.5 million , or $ 0.28 per diluted share on an after - tax basis , pertaining to net unrealized gains associated with strategic investments in limited partnerships . Of this amount , $ 21.1 million represents net unrealized gains that were accumulated in other comprehensive income at June 30 , 2021 and prior periods . The expense ratio for the third quarter was 19.3 % , compared to 18.9 % in the second quarter of 2021 and 16.7 % in the third quarter of 2020 . ➤ The provision for losses and LAE for the third quarter was a benefit of $ 7.5 million , compared to a provision of $ 9.7 million in the second quarter of 2021 and a provision of $ 55.3 million in the third quarter of 2020 . The percentage of loans in default as of September 30 , 2021 was 2.47 % , compared to 2.96 % as of June 30 , 2021 and 4.54 % as of September 30 , 2020 . The combined ratio for the third quarter was 15.9 % , compared to 23.3 % in the second quarter of 2021 and 41.6 % in the third quarter of 2020 . The consolidated balance of cash and investments at September 30 , 2021 was $ 5.1 billion , which includes net cash and investments available for sale at Essent Group Ltd. and Essent US Holdings , Inc. of $ 513.0 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 10.5 : 1 as of September 30 , 2021 . On September 24 , 2021 , A.M. Best affirmed its " A ( Excellent ) " financial strength rating of Essent Guaranty , Inc. and a long - term issuer credit rating of " a " of the operating subsidiaries of Essent Group Ltd. Essent Guaranty , Inc. also has financial strength ratings of " A3 " by Moody's and " BBB + " by S & P .