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Schedule II - Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Schedule II - Condensed Financial Information of Registrant | Schedule II—Condensed Financial Information of Registrant Condensed Balance Sheets Parent Company Only
|  | December 31,
(In thousands) |  | 2024 |  | 2023
Assets |  |  |  |
Investments |  |  |  |
Fixed maturities available for sale, at fair value (amortized cost: 2024 — $158,953; 2023 — $94,221) |  | $ | 151,600 |  |  | $ | 86,558 |
Short-term investments available for sale, at fair value (amortized cost: 2024 — $158,242; 2023 — $81,993) |  | 158,242 |  |  | 81,992 |
Total investments available for sale |  | 309,842 |  |  | 168,550 |
Other invested assets |  | — |  |  | 2,166 |
Cash |  | 2,267 |  |  | 4,073 |
Due from affiliates |  | 2,517 |  |  | 1,487 |
Investment in consolidated subsidiaries |  | 5,792,965 |  |  | 5,346,888 |
Other assets |  | 6,631 |  |  | 4,283 |
Total Assets |  | $ | 6,114,222 |  |  | $ | 5,527,447 |
Liabilities and stockholders' equity |  |  |  |
Liabilities |  |  |  |
Due to affiliates |  | $ | — |  |  | $ | 415 |
Senior notes due 2029, net |  | 493,959 |  |  | — |
Credit facility borrowings, net |  | — |  |  | 421,920 |
Other accrued liabilities |  | 16,605 |  |  | 2,562 |
Total liabilities |  | 510,564 |  |  | 424,897 |
Commitments and contingencies |  |  |  |
Stockholders' Equity |  |  |  |
Common shares |  | 1,575 |  |  | 1,599 |
Additional paid-in capital |  | 1,214,956 |  |  | 1,299,869 |
Accumulated other comprehensive loss |  | (303,984) |  |  | (280,496) |
Retained earnings |  | 4,691,111 |  |  | 4,081,578 |
Total stockholders' equity |  | 5,603,658 |  |  | 5,102,550 |
Total liabilities and stockholders' equity |  | $ | 6,114,222 |  |  | $ | 5,527,447 |
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) |  | 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |  |
Net investment income |  | $ | 9,030 |  |  | $ | 5,663 |  |  | $ | 6,433 |
Realized investment losses, net |  | (2) |  |  | (11,722) |  |  | (12,170) |
Loss from other invested assets |  | (2,336) |  |  | — |  |  | — |
Administrative service fees from subsidiaries |  | 830 |  |  | 710 |  |  | 642 |
Total revenues |  | 7,522 |  |  | (5,349) |  |  | (5,095) |
Expenses: |  |  |  |  |  |
Administrative service fees to subsidiaries |  | 4,717 |  |  | 3,738 |  |  | 3,908 |
Other operating expenses |  | 8,046 |  |  | 7,010 |  |  | 7,614 |
Interest expense |  | 35,319 |  |  | 30,137 |  |  | 15,609 |
Total expenses |  | 48,082 |  |  | 40,885 |  |  | 27,131 |
Loss before income taxes and equity in undistributed net income in subsidiaries |  | (40,560) |  |  | (46,234) |  |  | (32,226) |
Income tax expense (benefit) |  | — |  |  | (181) |  |  | — |
Loss before equity in undistributed net income of subsidiaries |  | (40,560) |  |  | (46,053) |  |  | (32,226) |
Equity in undistributed net income of subsidiaries |  | 769,963 |  |  | 742,439 |  |  | 863,579 |
Net income |  | $ | 729,403 |  |  | $ | 696,386 |  |  | $ | 831,353 |
Other comprehensive income (loss): |  |  |  |  |  |
Change in unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of $(7,818) in 2024, $17,944 in 2023 and $(75,013) in 2022 |  | (23,488) |  |  | 102,294 |  |  | (433,497) |
Total other comprehensive income (loss) |  | (23,488) |  |  | 102,294 |  |  | (433,497) |
Comprehensive income |  | $ | 705,915 |  |  | $ | 798,680 |  |  | $ | 397,856 |
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) |  | 2024 |  | 2023 |  | 2022
Operating Activities |  |  |  |  |  |
Net income |  | $ | 729,403 |  |  | $ | 696,386 |  |  | $ | 831,353 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity in net income of subsidiaries |  | (769,963) |  |  | (742,439) |  |  | (863,579) |
Loss on the sale of investments, net |  | 2 |  |  | 11,722 |  |  | 12,170 |
Loss from other invested assets |  | 2,336 |  |  | — |  |  | — |
Dividends from subsidiaries |  | 300,000 |  |  | 60,000 |  |  | — |
Stock-based compensation expense |  | 1,134 |  |  | 1,000 |  |  | 927 |
Amortization of premium on investment securities |  | 129 |  |  | 324 |  |  | 800 |
Deferred income taxes |  | — |  |  | (181) |  |  | — |
Changes in assets and liabilities: |  |  |  |  |  |
Other assets |  | 889 |  |  | 816 |  |  | 1,775 |
Other accrued liabilities |  | 40,289 |  |  | 18,365 |  |  | 19,232 |
Net cash provided by operating activities |  | 304,219 |  |  | 45,993 |  |  | 2,678 |
Investing Activities |  |  |  |  |  |
Net change in short-term investments |  | (76,250) |  |  | (14,370) |  |  | 94,988 |
Purchase of investments available for sale |  | (106,653) |  |  | (9,860) |  |  | (157,468) |
Proceeds from maturities and paydowns of investments available for sale |  | 33,515 |  |  | 24,787 |  |  | 81,351 |
Proceeds from sales of investments available for sale |  | 8,276 |  |  | 128,249 |  |  | 164,733 |
Net cash (used in) provided by investing activities |  | (141,112) |  |  | 128,806 |  |  | 183,604 |
Financing Activities |  |  |  |  |  |
Issuance of senior notes |  | 498,160 |  |  | — |  |  | — |
Credit facility repayments |  | (425,000) |  |  | — |  |  | — |
Treasury stock acquired |  | (111,542) |  |  | (70,670) |  |  | (97,914) |
Payment of debt issuance costs |  | (8,488) |  |  | — |  |  | (154) |
Dividends paid |  | (118,043) |  |  | (106,215) |  |  | (92,128) |
Net cash used in financing activities |  | (164,913) |  |  | (176,885) |  |  | (190,196) |
Net decrease in cash |  | (1,806) |  |  | (2,086) |  |  | (3,914) |
Cash at beginning of year |  | 4,073 |  |  | 6,159 |  |  | 10,073 |
Cash at end of year |  | $ | 2,267 |  |  | $ | 4,073 |  |  | $ | 6,159 |
Supplemental Disclosure of Cash Flow Information |  |  |  |  |  |
Interest payments |  | $ | (17,196) |  |  | $ | (28,574) |  |  | $ | (13,595) |
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, 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, 2024, Essent Guaranty had unassigned surplus of approximately $396.6 million. As of January 1, 2025, Essent Guaranty has dividend capacity of $396.6 million. During the years ended December 31, 2024 and 2023, the Parent Company received dividends from Essent Re totaling $300 million and $60.0 million, respectively. As of January 1, 2025, Essent Re has dividend capacity of $441.9 million. During the year ended December 31, 2022, the Parent Company did not receive any dividends from its subsidiaries.

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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