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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 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, 2023.
|  | Actual |  | Pro Forma |  | Actual |  | Pro Forma
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Revenues |  | $ | 316,578 |  |  | $ | 296,108 |  |  | $ | 927,877 |  |  | $ | 856,595 |
Earnings |  | 176,175 |  |  | 178,139 |  |  | 561,503 |  |  | 514,823 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | 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 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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