Enact's Q1 2026: Solid Growth, Strong Credit

Enact kicked off 2026 with robust first quarter numbers, reporting adjusted operating income of $172 million, or $1.21 per diluted share, up from last years figures. The company wrote $13 billion in new insurance, pushing total insurance in force to $272 billion, despite volatile mortgage rates. The housing market remained unstable, with refinances surging initially before slowing down in March. However, persistency held steady at 80%, backed by 58% of loans under 6% rates. Credit performance was strong, with delinquencies dropping by 1% and cures jumping by 13%, leading to a net reserve release of $39 million and a 15% loss ratio. Investors were pleased with the capital moves, as Enact returned $123 million via buybacks and dividends in the quarter. The board increased the quarterly dividend by 14% to $0.24 per share, marking four consecutive years of raises, and is targeting around $500 million in returns for the full year. PMIERs sufficiency stood at 162%, providing ample room for maneuver. Enact is well-positioned for the long term, balancing growth, risk management, and shareholder value while monitoring rate and credit trends. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d45677e08c1f8e1d