Every material Form 8-K Enact Holdings filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Enact Holdings reported third quarter 2024 GAAP net income of $181 million, or $1.15 per diluted share, up from $164 million, or $1.02 per share, a year earlier but slightly below the second quarter's $184 million. Adjusted operating income was $182 million, or $1.16 per share, down from $201 million in the second quarter, and the company expects full-year capital return at the higher end of its $300 million to $350 million range.
Net income $181 million ($1.15 diluted EPS) vs. $184 million ($1.16) in Q2 2024 and $164 million ($1.02) in Q3 2023
Adjusted operating income $182 million ($1.16 per diluted share) vs. $201 million ($1.27) in Q2 2024
Record primary insurance in-force of $268 billion, up 2% from Q3 2023; new insurance written about $14 billion, down 6% year over year
Quarterly dividend of $0.185 per share payable December 5, 2024; full-year capital return expected at the higher end of $300 million to $350 million
Enact Holdings reported second quarter 2024 net income of $184 million, or $1.16 per diluted share, up from $161 million in the first quarter and $168 million a year earlier. Primary insurance in force reached a record $266 billion, and the company now expects total 2024 capital returns of $300 million to $350 million. The quarter benefited from a $77 million reserve release, and results also included about $3 million of one-time restructuring costs.
Net income of $184 million, or $1.16 per diluted share, versus $161 million, or $1.01, in Q1 2024 and $168 million, or $1.04, in Q2 2023
Adjusted operating income of $201 million, or $1.27 per diluted share
2024 capital return now expected between $300 million and $350 million; quarterly dividend of $0.185 per share payable September 9, 2024
A $77 million reserve release drove losses incurred to $(17) million and a loss ratio of (7)%
Enact Holdings completed a $750 million offering of 6.250% senior notes due 2029 on May 28, 2024. The company plans to use the net proceeds, about $742.3 million, together with other available funds, to redeem its $750 million 6.500% notes due 2025 on June 3, 2024.
$750 million of 6.250% senior notes due May 28, 2029, issued under an underwriting agreement dated May 22, 2024
Net proceeds of approximately $742.3 million after underwriting discounts, commissions and estimated offering expenses
All $750 million of 6.500% senior notes due 2025 to be redeemed on June 3, 2024 at 100% of principal plus applicable premium and accrued interest
Notes pay interest semi-annually on May 28 and November 28, beginning November 28, 2024; J.P. Morgan, Citigroup and Goldman Sachs were the representatives
Enact reported net income of $161.0 million, or $1.01 per diluted share, for the quarter ended March 31, 2024, down from $176.0 million and $1.08 a year earlier, even though total revenues rose to $291.6 million from $280.9 million. The board also raised the quarterly dividend to $0.185 per share and authorized a new buyback of up to $250 million, which adds to the existing $100 million program.
Q1 2024 net income was $161.0 million ($1.01 per diluted share), versus $176.0 million ($1.08) in Q1 2023.
Total revenues were $291.6 million, versus $280.9 million in Q1 2023.
Adjusted operating income was $166.2 million, or $1.04 per diluted share, versus $1.08 a year earlier.
The dividend is $0.185 per share, payable June 13, 2024 to holders of record on May 29, 2024; $24 million remained under the existing $100 million buyback as of April 26, 2024.
Enact Holdings reported fourth-quarter 2023 net income of $157 million, or $0.98 per diluted share, up from $144 million, or $0.88 per share, in the fourth quarter of 2022 but down from $164 million in the third quarter of 2023. For full year 2023, net income was $666 million, or $4.11 per diluted share, compared with $704 million, or $4.31 per share, in 2022, while new insurance written fell 27% from the prior quarter.
Q4 2023 net income $157 million, or $0.98 per diluted share, versus $144 million, or $0.88, in Q4 2022 and $164 million, or $1.02, in Q3 2023
Full year 2023 net income $666 million, or $4.11 per diluted share, versus $704 million, or $4.31, in 2022
New insurance written was $10 billion in Q4 2023, down 27% from $14 billion in Q3 2023 and down 31% from a year earlier
Primary insurance in-force reached a record $263 billion, up 6% from $248 billion a year earlier; the company returned over $300 million to shareholders in 2023
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Enact Holdings filing is on SEC EDGAR ↗. 8-K briefs of other companies →