HAMILTON, Bermuda--(BUSINESS WIRE)-- Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended December 31, 2016 of $62.7 million or $0.68 per diluted share. Net income for the full year 2016 was $222.6 million or $2.41 per diluted share.

Insurance in force as of December 31, 2016 was $83.3 billion, representing an increase of 28% compared to $65.2 billion of insurance in force as of December 31, 2015. As of December 31, 2016, Essent had consolidated stockholders’ equity of $1.3 billion.

“2016 was another successful year for Essent as we continued growing a high credit quality and profitable mortgage insurance portfolio,” said Mark Casale, Chairman and Chief Executive Officer. “We remain optimistic about our prospects heading into 2017, as the underlying fundamentals of housing are strong and the real estate cycle remains in expansion mode.”

Financial Highlights:

• Insurance in force as of December 31, 2016 was $83.3 billion, compared to $77.6 billion as of September 30, 2016 and $65.2 billion as of December 31, 2015.
• Flow new insurance written for the fourth quarter was $10.5 billion, compared to $10.3 billion in the third quarter of 2016 and $6.0 billion in the fourth quarter of 2015. For the full year 2016, flow new insurance written was $34.9 billion, compared to $25.9 billion for 2015.
• Net premiums earned for the fourth quarter were $116.8 million, compared to $110.8 million in the third quarter of 2016 and $89.4 million in the fourth quarter of 2015. For the full year 2016, net premiums earned were $422.7 million, compared to $326.5 million for 2015.
• The expense ratio for the fourth quarter was 29.8%, compared to 29.6% in the third quarter of 2016 and 33.1% in the fourth quarter of 2015. For the full year 2016, the expense ratio was 30.9%, compared to 34.6% for 2015.
• The provision for losses and LAE for the fourth quarter was $3.9 million, compared to $5.0 million in the third quarter of 2016 and $4.2 million in the fourth quarter of 2015. For the full year 2016, the provision for losses and LAE was $15.5 million, compared to $11.9 million for 2015.
• The percentage of loans in default as of December 31, 2016 was 0.47%, compared to 0.41% as of September 30, 2016 and 0.35% as of December 31, 2015.
• The combined ratio for the fourth quarter was 33.1%, compared to 34.1% in the third quarter of 2016 and 37.8% in the fourth quarter of 2015. For the full year 2016, the combined ratio was 34.5%, compared to 38.3% for 2015.
• The consolidated balance of cash and investments at December 31, 2016 was $1.6 billion, including cash and investment balances at Essent Group Ltd. of $46.6 million.
• The combined risk to capital ratio of the US mortgage insurance business, which includes statutory capital for both Essent Guaranty, Inc. and Essent Guaranty of PA, Inc., was 14.7:1 as of December 31, 2016.
• Essent Reinsurance Ltd. reinsured a total of $260 million of GSE risk share transactions in 2016 compared to $121 million in 2015.

Conference Call

Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results. The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/investors/webcasts-and-presentations/event-calendar/default.aspx. The call may also be accessed by dialing 877-201-0168 inside the U.S., or 647-788-4901 for international callers, using passcode 48561524 or by referencing Essent.

A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 855-859-2056 inside the U.S., or 404-537-3406 for international callers, passcode 48561524.

In addition to the information provided in the company's earnings news release, other statistical and financial information, which may be referred to during the conference call, will be available on Essent's website at http://ir.essentgroup.com/investors/financial-information/quarterly-financial-supplements/default.aspx.

Forward-Looking Statements

This press release may include “forward-looking statements” which are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," “should,” “expect,” "plan," "anticipate," "believe," “estimate,” “predict,” or "potential" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; decline in new insurance written and franchise value due to loss of a significant customer; decline in the volume of low down payment mortgage originations; the definition of "Qualified Mortgage" reducing the size of the mortgage origination market or creating incentives to use government mortgage insurance programs; the definition of "Qualified Residential Mortgage" reducing the number of low down payment loans or lenders and investors seeking alternatives to private mortgage insurance; the implementation of the Basel III Capital Accord discouraging the use of private mortgage insurance; a decrease in the length of time that insurance policies are in force; uncertainty of loss reserve estimates; deteriorating economic conditions; our non-U.S. operations becoming subject to U.S. Federal income taxation; becoming considered a passive foreign investment company for U.S. Federal income tax purposes; and other risks and factors described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission on February 29, 2016. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Non-GAAP Financial Measures

In presenting Essent Group Ltd.’s results, management has included financial measures, including adjusted book value per share, that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). Such measures are referred to as “non-GAAP measures.” These non-GAAP measures may be defined or calculated differently by other companies. Management believes these measures allow for a more complete understanding of the underlying business. These measures are used to monitor our results and should not be viewed as a substitute for those determined in accordance with GAAP. Reconciliations of such measures to the most comparable GAAP figures are included in the attached financial supplement in accordance with Regulation G.

About the Company

Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) which, through its wholly-owned subsidiary Essent Guaranty, Inc., offers private mortgage insurance for single-family mortgage loans in the United States. Essent provides private capital to mitigate mortgage credit risk, allowing lenders to make additional mortgage financing available to prospective homeowners. Headquartered in Radnor, Pennsylvania, Essent Guaranty, Inc. is licensed to write mortgage insurance in all 50 states and the District of Columbia, and is approved by Fannie Mae and Freddie Mac. Essent also offers mortgage-related insurance, reinsurance and advisory services through its Bermuda-based subsidiary, Essent Reinsurance Ltd. Additional information regarding Essent may be found at www.essentgroup.com and www.essent.us.

Source: Essent Group Ltd.

Essent Group Ltd. and Subsidiaries
Financial Results and Supplemental Information (Unaudited)
Quarter and Year Ended December 31, 2016
Exhibit A			Condensed Consolidated Statements of Comprehensive Income (Unaudited)
Exhibit B			Condensed Consolidated Balance Sheets (Unaudited)
Exhibit C			Historical Quarterly Data
Exhibit D			New Insurance Written
Exhibit E			Insurance in Force and Risk in Force
Exhibit F			Other Risk in Force
Exhibit G			Portfolio Vintage Data
Exhibit H			Portfolio Geographic Data
Exhibit I			Defaults, Reserve for Losses and LAE, and Claims
Exhibit J			Investment Portfolio
Exhibit K			Insurance Company Capital
Exhibit L			Reconciliation of Non-GAAP Financial Measure - Adjusted Book Value per Share

														Exhibit A
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
		Three Months Ended December 31,								Year Ended December 31,
(In thousands, except per share amounts)		2016				2015				2016				2015
Revenues:
Net premiums written		$	116,412			$	98,434			$	441,278			$	370,568
Decrease (increase) in unearned premiums		380				(9,056		)		(18,571		)		(44,097		)
Net premiums earned		116,792				89,378				422,707				326,471
Net investment income		8,225				5,563				27,890				19,885
Realized investment gains, net		445				789				1,934				2,554
Other income		911				1,746				5,727				4,380
Total revenues		126,373				97,476				458,258				353,290
Losses and expenses:
Provision for losses and LAE		3,865				4,199				15,525				11,905
Other underwriting and operating expenses		35,206				29,627				130,851				112,987
Total losses and expenses		39,071				33,826				146,376				124,892
Income before income taxes		87,302				63,650				311,882				228,398
Income tax expense		24,616				19,171				89,276				71,067
Net income		$	62,686			$	44,479			$	222,606			$	157,331
Earnings per share:
Basic		$	0.69			$	0.49			$	2.45			$	1.74
Diluted		0.68				0.48				2.41				1.72
Weighted average shares outstanding:
Basic		90,991				90,454				90,913				90,351
Diluted		92,577				91,918				92,245				91,738
Net income		$	62,686			$	44,479			$	222,606			$	157,331
Other comprehensive income (loss):
Change in unrealized depreciation of investments		(34,209		)		(5,146		)		(12,156		)		(4,766		)
Total other comprehensive loss		(34,209		)		(5,146		)		(12,156		)		(4,766		)
Comprehensive income		$	28,477			$	39,333			$	210,450			$	152,565
Loss ratio		3.3		%		4.7		%		3.7		%		3.6		%
Expense ratio		29.8		%		33.1		%		30.9		%		34.6		%
Combined ratio		33.1		%		37.8		%		34.5		%		38.3		%

						Exhibit B
Essent Group Ltd. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
		December 31,				December 31,
(In thousands, except per share amounts)		2016				2015
Assets
Investments available for sale, at fair value
Fixed maturities		$	1,482,754			$	1,190,638
Short-term investments		132,348				85,996
Total investments		1,615,102				1,276,634
Cash		27,531				24,606
Accrued investment income		9,488				7,768
Accounts receivable		21,632				16,637
Deferred policy acquisition costs		13,400				11,529
Property and equipment (at cost, less accumulated depreciation of $46,543 in 2016 and $42,479 in 2015)		8,119				9,021
Prepaid federal income tax		181,272				119,412
Other assets		6,454				3,492
Total assets		$	1,882,998			$	1,469,099
Liabilities and Stockholders' Equity
Liabilities
Reserve for losses and LAE		$	28,142			$	17,760
Unearned premium reserve		219,616				201,045
Net deferred tax liability		142,587				87,964
Revolving credit facility borrowings		100,000				—
Securities purchased payable		14,999				14,996
Other accrued liabilities		33,881				28,093
Total liabilities		539,225				349,858
Commitments and contingencies
Stockholders' Equity
Common shares, $0.015 par value:
Authorized - 233,333; issued and outstanding - 93,105 shares in 2016 and 92,650 shares in 2015		1,397				1,390
Additional paid-in capital		918,296				904,221
Accumulated other comprehensive loss		(12,255		)		(99		)
Retained earnings		436,335				213,729
Total stockholders' equity		1,343,773				1,119,241
Total liabilities and stockholders' equity		$	1,882,998			$	1,469,099
Return on average equity		18.1		%		15.2		%

																													Exhibit C
Essent Group Ltd. and Subsidiaries
Supplemental Information
Historical Quarterly Data
		2016																2015
Selected Income Statement Data		December 31				September 30				June 30				March 31				December 31				September 30				June 30				March 31
(In thousands, except per share amounts)
Revenues:
Net premiums written		$	116,412			$	115,887			$	108,513			$	100,466			$	98,434			$	97,478			$	92,399			$	82,257
Net premiums earned		116,792				110,801				100,711				94,403				89,378				83,694				78,361				75,038
Other revenues (1)		9,581				10,453				7,454				8,063				8,098				8,042				5,706				4,973
Total revenues		126,373				121,254				108,165				102,466				97,476				91,736				84,067				80,011
Losses and expenses:
Provision for losses and LAE		3,865				4,965				2,964				3,731				4,199				3,393				2,314				1,999
Other underwriting and operating expenses		35,206				32,848				31,409				31,388				29,627				28,714				27,148				27,498
Total losses and expenses		39,071				37,813				34,373				35,119				33,826				32,107				29,462				29,497
Income before income taxes		87,302				83,441				73,792				67,347				63,650				59,629				54,605				50,514
Income tax expense		24,616				23,730				21,534				19,396				19,171				18,808				17,412				15,676
Net income		$	62,686			$	59,711			$	52,258			$	47,951			$	44,479			$	40,821			$	37,193			$	34,838
Earnings per share:
Basic		$	0.69			$	0.66			$	0.57			$	0.53			$	0.49			$	0.45			$	0.41			$	0.39
Diluted		0.68				0.65				0.57				0.52				0.48				0.44				0.41				0.38
Weighted average shares outstanding:
Basic		90,991				90,961				90,912				90,785				90,454				90,418				90,344				90,185
Diluted		92,577				92,399				92,138				91,859				91,918				91,841				91,674				91,514
Other Data:
Loss ratio (2)		3.3		%		4.5		%		2.9		%		4.0		%		4.7		%		4.1		%		3.0		%		2.7		%
Expense ratio (3)		29.8		%		29.6		%		31.2		%		33.2		%		33.1		%		34.3		%		34.6		%		36.6		%
Combined ratio		33.1		%		34.1		%		34.1		%		37.2		%		37.8		%		38.4		%		37.6		%		39.3		%
Return on average equity (annualized)		18.9		%		18.7		%		17.2		%		16.7		%		16.2		%		15.5		%		14.7		%		14.3		%

(1) Through June 30, 2016, other revenues included the change in the fair value of insurance and certain reinsurance policies issued by Essent Reinsurance Ltd. ("Essent Re") in connection with Freddie Mac's Agency Credit Insurance Structure ("ACIS") program that were accounted for as derivatives under GAAP. In the three months ended September 30, 2016, these contracts were amended and are now accounted for as insurance contracts. The change in fair values of these policies was $2,012, ($755), $677, $974, $1,258, ($391) and ($749) in the three months ended September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively.

(2) Loss ratio is calculated by dividing the provision for losses and LAE by net premiums earned.

(3) Expense ratio is calculated by dividing other underwriting and operating expenses, excluding interest expense, by net premiums earned.

																										Exhibit C, continued
Essent Group Ltd. and Subsidiaries
Supplemental Information
Historical Quarterly Data
		2016																2015
Other Data, continued:		December 31				September 30				June 30				March 31				December 31				September 30				June 30				March 31
($ in thousands)
U.S. Mortgage Insurance Portfolio
Flow:
New insurance written		$	10,475,258			$	10,299,161			$	8,715,171			$	5,366,675			$	5,970,656			$	7,384,654			$	7,225,401			$	5,346,820
New risk written		2,498,831				2,536,734				2,167,333				1,340,588				1,486,328				1,854,884				1,800,027				1,302,710
Bulk:
New insurance written		$	—			$	—			$	—			$	93,054			$	—			$	204,867			$	61,258			$	—
New risk written		—				—				—				8,480				—				25,760				4,062				—
Total:
Average premium rate (4)		0.56		%		0.58		%		0.57		%		0.56		%		0.55		%		0.55		%		0.57		%		0.58		%
New insurance written		$	10,475,258			$	10,299,161			$	8,715,171			$	5,459,729			$	5,970,656			$	7,589,521			$	7,286,659			$	5,346,820
New risk written		$	2,498,831			$	2,536,734			$	2,167,333			$	1,349,068			$	1,486,328			$	1,880,644			$	1,804,089			$	1,302,710
Insurance in force (end of period)		$	83,265,522			$	77,614,373			$	72,267,099			$	67,716,741			$	65,242,453			$	62,141,406			$	57,435,859			$	53,253,632
Risk in force (end of period)		$	20,627,317			$	19,289,387			$	17,937,364			$	16,745,819			$	16,073,174			$	15,229,575			$	13,992,701			$	12,891,462
Policies in force		375,898				350,600				328,441				308,779				297,437				282,671				261,996				242,477
Weighted average coverage (5)		24.8		%		24.9		%		24.8		%		24.7		%		24.6		%		24.5		%		24.4		%		24.2		%
Annual persistency		77.7		%		79.4		%		81.0		%		81.0		%		80.2		%		80.2		%		80.3		%		82.8		%
Loans in default (count)		1,757				1,453				1,174				1,060				1,028				814				605				505
Percentage of loans in default		0.47		%		0.41		%		0.36		%		0.34		%		0.35		%		0.29		%		0.23		%		0.21		%
Other Risk in Force
GSE Risk Share (6)		$	384,103			$	302,211			$	305,357			$	188,766			$	156,347			$	118,073			$	66,291			$	63,533
Revolving Credit Facility
Borrowings outstanding		$	100,000			$	50,000			$	—			N/A				N/A				N/A				N/A				N/A
Undrawn committed capacity		$	100,000			$	150,000			$	200,000			N/A				N/A				N/A				N/A				N/A
Interest rate at December 31, 2016:		2.73		%

(4) Average premium rate is calculated by dividing net premiums earned by average insurance in force for the period.

(5) Weighted average coverage is calculated by dividing end of period risk in force by insurance in force.

(6) Essent Re provides insurance or reinsurance in connection with Freddie Mac's ACIS program and covers the risk in force on the loans in the reference pools associated with STACR notes issued by Freddie Mac. Essent Re also provides reinsurance in connection with Fannie Mae's Credit Insurance Risk Transfer ("CIRT") program and covers the risk in force on the loans in reference pools acquired by Fannie Mae.

																							Exhibit D
Essent Group Ltd. and Subsidiaries
Supplemental Information
New Insurance Written: Flow
NIW by Credit Score
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
($ in thousands)
>=760		$	4,642,666			44.3	%		$	2,549,859			42.7	%		$	15,827,689			45.4	%		$	11,414,155			44.0	%
740-759		1,636,508				15.6			954,427				16.0			5,533,992				15.9			4,212,139				16.2
720-739		1,456,147				13.9			845,731				14.2			4,750,940				13.6			3,705,326				14.3
700-719		1,212,922				11.6			656,708				11.0			3,859,363				11.1			2,745,041				10.6
680-699		879,907				8.4			556,605				9.3			2,801,820				8.0			2,204,216				8.5
<=679		647,108				6.2			407,326				6.8			2,082,461				6.0			1,646,654				6.4
Total		$	10,475,258			100.0	%		$	5,970,656			100.0	%		$	34,856,265			100.0	%		$	25,927,531			100.0	%
Weighted average credit score		747							746							748							747
NIW by LTV
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
($ in thousands)
85.00% and below		$	1,808,741			17.3	%		$	728,547			12.2	%		$	5,155,388			14.8	%		$	3,235,112			12.5	%
85.01% to 90.00%		3,242,535				30.9			2,040,008				34.2			11,148,955				32.0			8,955,916				34.5
90.01% to 95.00%		4,525,547				43.2			3,042,571				50.9			16,516,689				47.4			13,147,611				50.7
95.01% and above		898,435				8.6			159,530				2.7			2,035,233				5.8			588,892				2.3
Total		$	10,475,258			100.0	%		$	5,970,656			100.0	%		$	34,856,265			100.0	%		$	25,927,531			100.0	%
Weighted average LTV		91		%					92		%					92		%					92		%
NIW by Product
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
Single Premium policies						12.7	%						24.3	%						17.0	%						23.3	%
Monthly Premium policies						87.3							75.7							83.0							76.7
						100.0	%						100.0	%						100.0	%						100.0	%
NIW by Purchase vs. Refinance
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
Purchase						73.9	%						82.6	%						79.2	%						79.6	%
Refinance						26.1							17.4							20.8							20.4
						100.0	%						100.0	%						100.0	%						100.0	%

																							Exhibit D, continued
Essent Group Ltd. and Subsidiaries
Supplemental Information
New Insurance Written: Bulk
NIW by Credit Score
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
($ in thousands)
>=760		$	—			0.0	%		$	—			0.0	%		$	45,625			49.0	%		$	201,990			75.9	%
740-759		—				—			—				—			18,154				19.5			31,425				11.8
720-739		—				—			—				—			11,475				12.3			19,891				7.5
700-719		—				—			—				—			8,220				8.8			12,819				4.8
680-699		—				—			—				—			6,453				7.0			—				—
<=679		—				—			—				—			3,127				3.4			—				—
Total		$	—			0.0	%		$	—			0.0	%		$	93,054			100.0	%		$	266,125			100.0	%
Weighted average credit score		N/A							N/A							750							774
NIW by LTV
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
($ in thousands)
85.00% and below		$	—			0.0	%		$	—			0.0	%		$	755			0.8	%		$	63,448			23.8	%
85.01% to 90.00%		—				—			—				—			27,757				29.8			94,984				35.7
90.01% to 95.00%		—				—			—				—			64,542				69.4			107,693				40.5
95.01% and above		—				—			—				—			—				—			—				—
Total		$	—			0.0	%		$	—			0.0	%		$	93,054			100.0	%		$	266,125			100.0	%
Weighted average LTV		N/A							N/A							91		%					89		%
NIW by Product
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
Single Premium policies						0.0	%						0.0	%						100.0	%						100.0	%
Monthly Premium policies						—							—							—							—
						0.0	%						0.0	%						100.0	%						100.0	%
NIW by Purchase vs. Refinance
		Three Months Ended														Year Ended
		December 31, 2016							December 31, 2015							December 31, 2016							December 31, 2015
Purchase						0.0	%						0.0	%						100.0	%						90.1	%
Refinance						—							—							—							9.9
						0.0	%						0.0	%						100.0	%						100.0	%

													Exhibit E
Essent Group Ltd. and Subsidiaries
Supplemental Information
Insurance in Force and Risk in Force
Portfolio by Credit Score
Total IIF by FICO score		December 31, 2016						September 30, 2016						December 31, 2015
($ in thousands)
>=760		$	37,858,422		45.5	%		$	35,510,017		45.8	%		$	30,174,460		46.2	%
740-759		13,760,610			16.5			12,924,061			16.6			11,019,729			16.9
720-739		11,855,648			14.2			11,075,479			14.3			9,398,659			14.4
700-719		8,712,971			10.5			7,985,448			10.3			6,507,454			10.0
680-699		6,611,166			7.9			6,079,109			7.8			5,030,169			7.7
<=679		4,466,705			5.4			4,040,259			5.2			3,111,982			4.8
Total		$	83,265,522		100.0	%		$	77,614,373		100.0	%		$	65,242,453		100.0	%
Weighted average credit score		749						749						750
Total RIF by FICO score		December 31, 2016						September 30, 2016						December 31, 2015
($ in thousands)
>=760		$	9,319,522		45.2	%		$	8,763,990		45.4	%		$	7,379,053		45.9	%
740-759		3,434,392			16.7			3,236,792			16.8			2,735,754			17.0
720-739		2,970,941			14.4			2,784,413			14.4			2,346,971			14.6
700-719		2,151,657			10.4			1,977,518			10.3			1,592,463			9.9
680-699		1,656,791			8.0			1,529,092			7.9			1,255,734			7.8
<=679		1,094,014			5.3			997,582			5.2			763,199			4.8
Total		$	20,627,317		100.0	%		$	19,289,387		100.0	%		$	16,073,174		100.0	%
Portfolio by LTV
Total IIF by LTV		December 31, 2016						September 30, 2016						December 31, 2015
($ in thousands)
85.00% and below		$	9,756,578		11.7	%		$	8,697,580		11.2	%		$	7,341,316		11.3	%
85.01% to 90.00%		27,409,202			32.9			25,916,495			33.4			22,337,975			34.2
90.01% to 95.00%		42,854,633			51.5			40,553,061			52.2			34,035,682			52.2
95.01% and above		3,245,109			3.9			2,447,237			3.2			1,527,480			2.3
Total		$	83,265,522		100.0	%		$	77,614,373		100.0	%		$	65,242,453		100.0	%
Weighted average LTV		92		%				92		%				92		%
Total RIF by LTV		December 31, 2016						September 30, 2016						December 31, 2015
($ in thousands)
85.00% and below		$	1,101,947		5.3	%		$	986,759		5.1	%		$	826,531		5.2	%
85.01% to 90.00%		6,512,613			31.6			6,173,686			32.0			5,310,050			33.0
90.01% to 95.00%		12,234,306			59.3			11,574,082			60.0			9,646,406			60.0
95.01% and above		778,451			3.8			554,860			2.9			290,187			1.8
Total		$	20,627,317		100.0	%		$	19,289,387		100.0	%		$	16,073,174		100.0	%
Portfolio by Loan Amortization Period
Total IIF by Loan Amortization Period		December 31, 2016						September 30, 2016						December 31, 2015
($ in thousands)
FRM 30 years and higher		$	75,428,964		90.6	%		$	70,363,929		90.7	%		$	58,344,666		89.4	%
FRM 20-25 years		2,113,529			2.5			1,808,715			2.3			1,515,756			2.3
FRM 15 years		3,066,893			3.7			2,757,521			3.5			2,702,723			4.2
ARM 5 years and higher		2,656,136			3.2			2,684,208			3.5			2,679,308			4.1
Total		$	83,265,522		100.0	%		$	77,614,373		100.0	%		$	65,242,453		100.0	%

										Exhibit F
Essent Group Ltd. and Subsidiaries
Supplemental Information
Other Risk in Force
($ in thousands)		December 31, 2016				September 30, 2016				December 31, 2015
GSE Risk Share (1)		$	384,103			$	302,211			$	156,347
Weighted average credit score		749				751				754
Weighted average LTV		82		%		80		%		76		%

(1) Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae, including in connection with Freddie Mac's Agency Credit Insurance Structure ("ACIS") program and Fannie Mae's Credit Insurance Risk Transfer ("CIRT") program.

																																		Exhibit G
Essent Group Ltd. and Subsidiaries
Supplemental Information
Portfolio Vintage Data
December 31, 2016
																Insurance in Force
Origination Year		OriginalInsuranceWritten($ in thousands)				RemainingInsurancein Force($ in thousands)				% Remaining ofOriginalInsurance			Number ofPolicies inForce			% Purchase			>90% LTV			>95% LTV			FICO < 700			FICO >= 760			% FRM			IncurredLoss Ratio(Inceptionto Date) (1)			Number ofLoans inDefault
2010		$	245,898			$	30,336			12.3	%		191			78.9	%		48.0	%		0.0	%		3.8	%		57.9	%		99.3	%		2.8	%		1
2011		3,229,720				571,364				17.7			3,121			76.4			44.8			0.2			5.0			55.3			95.6			3.7			44
2012		11,241,161				3,843,570				34.2			19,222			75.2			53.0			0.5			5.5			55.8			97.7			2.5			156
2013		21,152,638				9,440,086				44.6			46,380			78.3			56.0			1.9			7.8			51.0			97.2			2.6			362
2014		24,799,434				14,543,735				58.6			71,819			86.8			60.7			3.7			15.4			42.1			94.1			3.9			677
2015		26,193,656				21,226,878				81.0			95,084			81.6			55.0			2.4			14.8			43.7			96.6			3.3			394
2016		34,949,319				33,609,553				96.2			140,081			79.2			53.5			6.0			14.1			45.2			97.9			2.3			123
Total		$	121,811,826			$	83,265,522			68.4			375,898			80.8			55.4			3.9			13.3			45.5			96.8			3.1			1,757

(1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned.

								Exhibit H
Essent Group Ltd. and Subsidiaries
Supplemental Information
Portfolio Geographic Data
IIF by State
		December 31, 2016			September 30, 2016			December 31, 2015
CA		9.4	%		9.4	%		9.6	%
TX		8.2			8.3			8.3
FL		6.6			6.5			6.2
WA		4.8			4.8			4.6
IL		4.0			4.1			4.1
NC		3.7			3.7			3.9
NJ		3.5			3.4			3.4
GA		3.4			3.4			3.3
MN		3.2			3.2			2.9
AZ		3.2			3.1			3.2
All Others		50.0			50.1			50.5
Total		100.0	%		100.0	%		100.0	%
RIF by State
		December 31, 2016			September 30, 2016			December 31, 2015
CA		9.0	%		9.0	%		9.2	%
TX		8.5			8.5			8.6
FL		6.9			6.8			6.4
WA		4.8			4.8			4.8
IL		4.0			4.1			4.1
NC		3.7			3.8			4.0
GA		3.5			3.5			3.5
NJ		3.5			3.4			3.3
MN		3.3			3.3			3.0
OH		3.1			3.1			2.9
All Others		49.7			49.7			50.2
Total		100.0	%		100.0	%		100.0	%

										Exhibit I
Essent Group Ltd. and Subsidiaries
Supplemental Information
Defaults, Reserve for Losses and LAE, and Claims
Rollforward of Insured Loans in Default
		Three Months Ended								Year Ended
		December 31,				December 31,				December 31,				December 31,
		2016				2015				2016				2015
Beginning default inventory		1,453				814				1,028				457
Plus: new defaults		1,208				706				3,746				2,034
Less: cures		(861		)		(467		)		(2,857		)		(1,384		)
Less: claims paid		(39		)		(25		)		(154		)		(79		)
Less: rescissions and denials		(4		)		—				(6		)		—
Ending default inventory		1,757				1,028				1,757				1,028
Rollforward of Reserve for Losses and LAE
		Three Months Ended								Year Ended
		December 31,				December 31,				December 31,				December 31,
($ in thousands)		2016				2015				2016				2015
Reserve for losses and LAE at beginning of period		$	25,731			$	14,548			$	17,760			$	8,427
Add provision for losses and LAE occurring in:
Current year		5,502				4,600				21,889				14,956
Prior years		(1,637		)		(401		)		(6,364		)		(3,051		)
Incurred losses during the period		3,865				4,199				15,525				11,905
Deduct payments for losses and LAE occurring in:
Current year		460				282				927				544
Prior years		994				705				4,216				2,028
Loss and LAE payments during the period		1,454				987				5,143				2,572
Reserve for losses and LAE at end of period		$	28,142			$	17,760			$	28,142			$	17,760
Claims
		Three Months Ended								Year Ended
		December 31,				December 31,				December 31,				December 31,
		2016				2015				2016				2015
Number of claims paid		39				25				154				79
Total amount paid for claims (in thousands)		$	1,438			$	968			$	5,028			$	2,498
Average amount paid per claim (in thousands)		$	37			$	39			$	33			$	32
Severity		70		%		102		%		73		%		92		%

												Exhibit I, continued
Essent Group Ltd. and Subsidiaries
Supplemental Information
Defaults, Reserve for Losses and LAE, and Claims
		December 31, 2016
		Number ofPolicies inDefault			Percentage ofPolicies inDefault			Amount ofReserves				Percentage ofReserves			DefaultedRIF			Reserves as aPercentage ofDefaulted RIF
($ in thousands)
Missed Payments:
Three payments or less		914			52	%		$	6,615			26	%		$	50,737		13	%
Four to eleven payments		620			35			11,505				45			32,833			35
Twelve or more payments		179			10			5,678				22			9,575			59
Pending claims		44			3			1,960				7			2,272			86
Total case reserves		1,757			100	%		25,758				100	%		$	95,417		27
IBNR								1,932
LAE								452
Total reserves for losses and LAE								$	28,142
Average reserve per default:
Case								$	14.7
Total								$	16.0
Default Rate		0.47	%
		December 31, 2015
		Number ofPolicies inDefault			Percentage ofPolicies inDefault			Amount ofReserves				Percentage ofReserves			DefaultedRIF			Reserves as aPercentage ofDefaulted RIF
($ in thousands)
Missed Payments:
Three payments or less		535			52	%		$	4,492			28	%		$	29,003		15	%
Four to eleven payments		383			37			8,283				51			20,825			40
Twelve or more payments		89			9			2,688				16			4,299			63
Pending claims		21			2			809				5			844			96
Total case reserves		1,028			100	%		16,272				100	%		$	54,971		30
IBNR								1,220
LAE								268
Total reserves for losses and LAE								$	17,760
Average reserve per default:
Case								$	15.8
Total								$	17.3
Default Rate		0.35	%

									Exhibit J
Essent Group Ltd. and Subsidiaries
Supplemental Information
Investment Portfolio
Investment Portfolio by Asset Class
Asset Class		December 31, 2016							December 31, 2015
($ in thousands)		Fair Value				Percent			Fair Value			Percent
U.S. Treasury securities		$	191,548			11.9	%		$	177,607		13.9	%
U.S. agency securities		18,441				1.1			13,782			1.1
U.S. agency mortgage-backed securities		316,494				19.6			159,602			12.5
Municipal debt securities		334,324				20.7			279,828			21.9
Corporate debt securities		456,357				28.3			396,732			31.1
Residential and commercial mortgage securities		68,336				4.2			55,356			4.3
Asset-backed securities		127,172				7.9			126,629			9.9
Money market funds		102,430				6.3			67,098			5.3
Total Investments		$	1,615,102			100.0	%		$	1,276,634		100.0	%
Investment Portfolio by Credit Rating
Rating (1)		December 31, 2016							December 31, 2015
($ in thousands)		Fair Value				Percent			Fair Value			Percent
Aaa		$	780,513			48.3	%		$	554,789		43.5	%
Aa1		88,977				5.5			74,322			5.8
Aa2		101,772				6.3			89,533			7.0
Aa3		89,421				5.5			68,587			5.4
A1		143,938				8.9			126,920			9.9
A2		126,113				7.8			122,745			9.6
A3		95,926				6.0			87,781			6.9
Baa1		85,864				5.3			80,137			6.3
Baa2		71,950				4.5			51,528			4.0
Baa3		24,544				1.5			19,662			1.5
Below Baa3		6,084				0.4			630			0.1
Total Investments		$	1,615,102			100.0	%		$	1,276,634		100.0	%
(1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available.
Investment Portfolio by Duration and Book Yield
Effective Duration		December 31, 2016							December 31, 2015
($ in thousands)		Fair Value				Percent			Fair Value			Percent
< 1 Year		$	329,901			20.4	%		$	235,001		18.4	%
1 to < 2 Years		153,184				9.5			141,995			11.1
2 to < 3 Years		156,620				9.7			214,274			16.8
3 to < 4 Years		176,896				11.0			104,772			8.2
4 to < 5 Years		139,115				8.6			141,428			11.1
5 or more Years		659,386				40.8			439,164			34.4
Total Investments		$	1,615,102			100.0	%		$	1,276,634		100.0	%
Pre-tax investment income yield:
Three months ended December 31, 2016		2.22		%
Year ended December 31, 2016		2.10		%
Net cash and investments at holding company, Essent Group Ltd.:
($ in thousands)
As of December 31, 2016		$	46,561
As of December 31, 2015		$	70,601

									Exhibit K
Essent Group Ltd. and Subsidiaries
Supplemental Information
Insurance Company Capital
				December 31, 2016					December 31, 2015
($ in thousands)
U.S. Mortgage Insurance Subsidiaries:
Combined statutory capital (1)				$	1,144,279				$	913,182
Combined net risk in force (2)				$	16,801,992				$	13,847,336
Risk-to-capital ratios: (3)
Essent Guaranty, Inc.				15.3:1					15.7:1
Essent Guaranty of PA, Inc.				6.8:1					9.7:1
Combined (4)				14.7:1					15.2:1
Essent Reinsurance Ltd.:
Stockholder's equity (GAAP basis)				$	401,273				$	220,178
Net risk in force (2)				$	4,181,737				$	2,364,692

(1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc., after eliminating the impact of intercompany transactions. Statutory capital is computed based on accounting practices prescribed or permitted by the Pennsylvania Insurance Department and the National Association of Insurance Commissioners Accounting Practices and Procedures Manual.

(2) Net risk in force represents total risk in force, net of reinsurance ceded and net of exposures on policies for which loss reserves have been established.

(3) The risk-to-capital ratio is calculated as the ratio of net risk in force to statutory capital.

(4) The combined risk-to-capital ratio equals the sum of the net risk in force of Essent Guaranty, Inc. and Essent Guaranty of PA, Inc. divided by the combined statutory capital.

					Exhibit L
Essent Group Ltd. and Subsidiaries
Supplemental Information
Reconciliation of Non-GAAP Financial Measure - Adjusted Book Value per Share

We believe that long-term growth in Adjusted Book Value per Share is an important measure of our financial performance and is a measure used to determine vesting on certain restricted stock granted to senior management under the Company’s long-term incentive plan. Adjusted Book Value per Share is a financial measure that is not calculated under standards or rules that comprise accounting principles generally accepted in the United States (GAAP) and is referred to as a non-GAAP measure. Adjusted Book Value per Share may be defined or calculated differently by other companies. Adjusted Book Value per Share is one measure used to monitor our results and should not be viewed as a substitute for those measures determined in accordance with GAAP.

Adjusted Book Value per Share is calculated by dividing Adjusted Book Value by Common Shares and Share Units Outstanding. Adjusted Book Value is defined as consolidated stockholders’ equity of the Company, excluding accumulated other comprehensive income (loss) plus the proceeds, if any, from the assumed exercise of all "in-the-money" options, warrants and similar instruments. Common Shares and Share Units Outstanding is defined as total common shares outstanding plus all equity instruments (including restricted share units) issued to management and the Board of Directors and any "in-the-money" options, warrants and similar instruments. Accumulated other comprehensive income (loss) includes unrealized gains and losses that arise from changes in the market value of the Company’s investments that are classified as available for sale. The Company does not view these unrealized gains and losses to be indicative of our fundamental operating performance. As of December 31, 2016 and December 31, 2015, the Company does not have any options, warrants and similar instruments outstanding.

The following table sets forth the reconciliation of Adjusted Book Value to the most comparable GAAP amount as of December 31, 2016 and December 31, 2015 in accordance with Regulation G:

(In thousands, except per share amounts)			December 31, 2016				December 31, 2015
Numerator:
Total Stockholders' Equity (Book Value)			$	1,343,773			$	1,119,241
Subtract: Accumulated Other Comprehensive Loss			(12,255		)		(99		)
Adjusted Book Value			$	1,356,028			$	1,119,340
Denominator:
Total Common Shares Outstanding			93,105				92,650
Add: Restricted Share Units Outstanding			493				544
Total Common Shares and Share Units Outstanding			93,598				93,194
Adjusted Book Value per Share			$	14.49			$	12.01

View source version on businesswire.com: http://www.businesswire.com/news/home/20170210005091/en/

Essent Group Ltd.

Media Contact

610-230-0556

[email protected]

or

Investor Relations Contact

Christopher G. Curran

Senior Vice President – Investor Relations

855-809-ESNT

[email protected]

Source: Essent Group Ltd.