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Schedule II - Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Schedule II - Condensed Financial Information of Registrant | Schedule II—Condensed Financial Information of Registrant Parent Company Only
|  | December 31,
(In thousands) |  | 2022 |  | 2021
Assets |  |  |  |
Investments |  |  |  |
Fixed maturities available for sale, at fair value (amortized cost: 2022 — $249,284; 2021 — $355,700) |  | $ | 226,718 |  |  | $ | 356,592 |
Short-term investments available for sale, at fair value (amortized cost: 2022 — $67,783; 2021 — $162,610) |  | 67,622 |  |  | 162,611 |
Total investments available for sale |  | 294,340 |  |  | 519,203 |
Other invested assets |  | 2,166 |  |  | — |
Cash |  | 6,160 |  |  | 10,073 |
Due from affiliates |  | 840 |  |  | 837 |
Investment in consolidated subsidiaries |  | 4,577,128 |  |  | 4,123,426 |
Other assets |  | 5,834 |  |  | 7,537 |
Total Assets |  | $ | 4,886,468 |  |  | $ | 4,661,076 |
Liabilities and stockholders' equity |  |  |  |
Liabilities |  |  |  |
Due to affiliates |  | $ | 752 |  |  | $ | 940 |
Credit facility borrowings (at carrying value, less unamortized deferred costs of $4,136 in 2022 and $5,177 in 2021) |  | 420,864 |  |  | 419,823 |
Other accrued liabilities |  | 2,543 |  |  | 4,199 |
Total liabilities |  | 424,159 |  |  | 424,962 |
Commitments and contingencies |  |  |  |
Stockholders' Equity |  |  |  |
Common shares |  | 1,615 |  |  | 1,641 |
Additional paid-in capital |  | 1,350,377 |  |  | 1,428,952 |
Accumulated other comprehensive income |  | (382,790) |  |  | 50,707 |
Retained earnings |  | 3,493,107 |  |  | 2,754,814 |
Total stockholders' equity |  | 4,462,309 |  |  | 4,236,114 |
Total liabilities and stockholders' equity |  | $ | 4,886,468 |  |  | $ | 4,661,076 |
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) |  | 2022 |  | 2021 |  | 2020
Revenues: |  |  |  |  |  |
Net investment income |  | $ | 6,433 |  |  | $ | 5,378 |  |  | $ | 1,181 |
Realized investment losses, net |  | (12,170) |  |  | (108) |  |  | (10) |
Administrative service fees from subsidiaries |  | 642 |  |  | 682 |  |  | 872 |
Total revenues |  | (5,095) |  |  | 5,952 |  |  | 2,043 |
Expenses: |  |  |  |  |  |
Administrative service fees to subsidiaries |  | 3,908 |  |  | 4,338 |  |  | 3,728 |
Other operating expenses |  | 7,614 |  |  | 7,193 |  |  | 5,929 |
Interest expense |  | 15,609 |  |  | 5,889 |  |  | 6,446 |
Total expenses |  | 27,131 |  |  | 17,420 |  |  | 16,103 |
Loss before income taxes and equity in undistributed net income in subsidiaries |  | (32,226) |  |  | (11,468) |  |  | (14,060) |
Loss before equity in undistributed net income of subsidiaries |  | (32,226) |  |  | (11,468) |  |  | (14,060) |
Equity in undistributed net income of subsidiaries |  | 863,579 |  |  | 693,251 |  |  | 427,101 |
Net income |  | $ | 831,353 |  |  | $ | 681,783 |  |  | $ | 413,041 |
Other comprehensive income (loss): |  |  |  |  |  |
Change in unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of $(75,013) in 2022, $(15,477) in 2021 and $16,836 in 2020 |  | (433,497) |  |  | (87,567) |  |  | 82,087 |
Total other comprehensive (loss) income |  | (433,497) |  |  | (87,567) |  |  | 82,087 |
Comprehensive income |  | $ | 397,856 |  |  | $ | 594,216 |  |  | $ | 495,128 |
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) |  | 2022 |  | 2021 |  | 2020
Operating Activities |  |  |  |  |  |
Net income |  | $ | 831,353 |  |  | $ | 681,783 |  |  | $ | 413,041 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity in net income of subsidiaries |  | (863,579) |  |  | (693,251) |  |  | (427,101) |
Loss on the sale of investments, net |  | 12,170 |  |  | 108 |  |  | 10 |
Stock-based compensation expense |  | 927 |  |  | 917 |  |  | 935 |
Amortization of premium on investment securities |  | 800 |  |  | 1,438 |  |  | 435 |
Changes in assets and liabilities: |  |  |  |  |  |
Other assets |  | 1,775 |  |  | 312 |  |  | (319) |
Other accrued liabilities |  | 19,232 |  |  | 21,447 |  |  | 18,208 |
Net cash provided by operating activities |  | 2,678 |  |  | 12,754 |  |  | 5,209 |
Investing Activities |  |  |  |  |  |
Net change in short-term investments |  | 94,988 |  |  | 189,804 |  |  | (255,884) |
Investments in subsidiaries |  | — |  |  | — |  |  | — |
Purchase of investments available for sale |  | (157,468) |  |  | (273,747) |  |  | (205,668) |
Proceeds from maturities and paydowns of investments available for sale |  | 81,351 |  |  | 18,384 |  |  | 838 |
Proceeds from sales of investments available for sale |  | 164,733 |  |  | 101,618 |  |  | 3,386 |
Net cash provided by (used in) investing activities |  | 183,604 |  |  | 36,059 |  |  | (457,328) |
Financing Activities |  |  |  |  |  |
Issuance of common shares, net of costs |  | — |  |  | — |  |  | 439,962 |
Credit facility borrowings |  | — |  |  | 200,000 |  |  | 200,000 |
Credit facility repayments |  | — |  |  | — |  |  | (100,000) |
Treasury stock acquired |  | (97,914) |  |  | (163,855) |  |  | (6,354) |
Payment of issuance costs for credit facility |  | (154) |  |  | (5,849) |  |  | (5,236) |
Dividends paid |  | (92,128) |  |  | (77,724) |  |  | (69,410) |
Net cash (used in) provided by financing activities |  | (190,196) |  |  | (47,428) |  |  | 458,962 |
Net increase (decrease) in cash |  | (3,914) |  |  | 1,385 |  |  | 6,843 |
Cash at beginning of year |  | 10,073 |  |  | 8,688 |  |  | 1,845 |
Cash at end of year |  | $ | 6,159 |  |  | $ | 10,073 |  |  | $ | 8,688 |
Supplemental Disclosure of Cash Flow Information |  |  |  |  |  |
Interest payments |  | $ | (13,595) |  |  | $ | (4,792) |  |  | $ | (5,714) |
Noncash Transactions |  |  |  |  |  |
Repayment of borrowings with term loan proceeds |  | $ | — |  |  | $ | (225,000) |  |  | $ | (225,000) |
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, the 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, 2022, Essent Guaranty had unassigned surplus of approximately $314.7 million. Essent PA had unassigned surplus of approximately $13.6 million as of December 31, 2022. As of January 1, 2023, Essent Guaranty has dividend capacity of $314.7 million and Essent PA has dividend capacity of $5.3 million. During the years ended December 31, 2022 and 2021, the Parent Company did not receive any dividends from its subsidiaries. During the year ended December 31, 2020, the Parent Company received dividends from Essent Re totaling $55.0 million.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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