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v3.25.2

Nature of Operations and Basis of Presentation (Tables) | 6 Months Ended
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Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Effects of Reinsurance | The following table summarizes the quota share reinsurance coverage that Essent Re has provided to Essent Guaranty for the respective NIW periods:
NIW Period |  | Ceding Percentage
January 1, 2025 to Present |  | 50%
January 1, 2021 to December 31, 2024 |  | 35%
Prior to January 1, 2021 |  | 25%
The effect of reinsurance on net premiums written and earned is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net premiums written: |  |  |  |  |  |  |  |
Direct |  | $ | 274,872 |  |  | $ | 272,910 |  |  | $ | 547,266 |  |  | $ | 541,841 |
Ceded (1) |  | (33,384) |  |  | (27,344) |  |  | (67,507) |  |  | (57,735) |
Net premiums written |  | $ | 241,488 |  |  | $ | 245,566 |  |  | $ | 479,759 |  |  | $ | 484,106 |
Net premiums earned: |  |  |  |  |  |  |  |
Direct |  | $ | 282,193 |  |  | $ | 279,235 |  |  | $ | 562,164 |  |  | $ | 555,216 |
Ceded (1) |  | (33,384) |  |  | (27,344) |  |  | (67,507) |  |  | (57,735) |
Net premiums earned |  | $ | 248,809 |  |  | $ | 251,891 |  |  | $ | 494,657 |  |  | $ | 497,481 |
(1)Net of profit commission. The following table summarizes Essent Guaranty's quota share reinsurance agreements as of June 30, 2025:
QSR Agreement |  | Coverage Period |  | Ceding Percentage
QSR-2019 |  | September 1, 2019 - December 31, 2020 |  | (1)
QSR-2022 |  | January 1, 2022 - December 31, 2022 |  | 20%
QSR-2023 |  | January 1, 2023 - December 31, 2023 |  | 17.5%
QSR-2024 |  | January 1, 2024 - December 31, 2024 |  | 15%
QSR-2025 |  | January 1, 2025 - December 31, 2025 |  | 25%
_______________________________________________________________________________ (1)Under QSR-2019, Essent Guaranty cedes 40% of premiums on singles policies and 20% on all other policies.

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 605 -Topic 944 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479032/944-605-50-1 + Details
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