Essent Group Ltd. Announces 2024 Annual General Meeting of Shareholders

Ticker: ESNT · Form: DEF 14A · Filed: Mar 29, 2024 · CIK: 1448893

Essent Group Ltd. DEF 14A Filing Summary
FieldDetail
CompanyEssent Group Ltd. (ESNT)
Form TypeDEF 14A
Filed DateMar 29, 2024
Risk Level
Pages15
Reading Time18 min
Key Dollar Amounts$0.015, $696 million, $6.50, $831 million, $7.72
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Shareholder Vote, Executive Compensation, Corporate Governance

TL;DR

<b>Essent Group Ltd. is holding its 2024 Annual General Meeting on May 1, 2024, via webcast, with key votes on director elections, auditor re-appointment, and executive compensation.</b>

AI Summary

Essent Group Ltd. (ESNT) filed a Proxy Statement (DEF 14A) with the SEC on March 29, 2024. Essent Group Ltd. will hold its 2024 Annual General Meeting of Shareholders on May 1, 2024, at 8:00 a.m. Atlantic Daylight Time. The meeting will be conducted via a live webcast originating from Bermuda at https://web.lumiagm.com/209457238. Shareholders of record as of March 8, 2024, are eligible to vote on the matters presented. Key agenda items include the election of three Class I directors, re-appointment of PricewaterhouseCoopers LLP as independent auditors, and a non-binding advisory resolution on executive compensation. The company is not required to pay a filing fee for this Definitive Proxy Statement (DEF 14A).

Why It Matters

For investors and stakeholders tracking Essent Group Ltd., this filing contains several important signals. This filing is a Definitive Proxy Statement (DEF 14A), indicating the company is formally soliciting shareholder votes for its upcoming annual meeting. The agenda items, particularly the election of directors and advisory vote on executive compensation, are critical for corporate governance and shareholder oversight.

Risk Assessment

Risk Level: — Essent Group Ltd. shows moderate risk based on this filing. The filing is a routine proxy statement for an annual shareholder meeting, with no immediate financial or operational risks indicated.

Analyst Insight

Shareholders should review the proxy materials to make informed voting decisions on director nominees, auditor appointment, and executive compensation.

Key Numbers

  • 3 — Class I Directors (To be elected to serve through the 2027 Annual General Meeting.)
  • 2024 — Fiscal Year End (For which PricewaterhouseCoopers LLP is proposed as auditor.)
  • 2025 — Annual General Meeting (Until which PricewaterhouseCoopers LLP's appointment extends.)

Key Players & Entities

  • Essent Group Ltd. (company) — Registrant and filer of the proxy statement.
  • PricewaterhouseCoopers LLP (company) — Proposed independent registered public accounting firm.
  • May 1, 2024 (date) — Date of the Annual General Meeting of Shareholders.
  • March 8, 2024 (date) — Record date for determining shareholders eligible to vote.

FAQ

When did Essent Group Ltd. file this DEF 14A?

Essent Group Ltd. filed this Proxy Statement (DEF 14A) with the SEC on March 29, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Essent Group Ltd. (ESNT).

Where can I read the original DEF 14A filing from Essent Group Ltd.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Essent Group Ltd..

What are the key takeaways from Essent Group Ltd.'s DEF 14A?

Essent Group Ltd. filed this DEF 14A on March 29, 2024. Key takeaways: Essent Group Ltd. will hold its 2024 Annual General Meeting of Shareholders on May 1, 2024, at 8:00 a.m. Atlantic Daylight Time.. The meeting will be conducted via a live webcast originating from Bermuda at https://web.lumiagm.com/209457238.. Shareholders of record as of March 8, 2024, are eligible to vote on the matters presented..

Is Essent Group Ltd. a risky investment based on this filing?

Based on this DEF 14A, Essent Group Ltd. presents a moderate-risk profile. The filing is a routine proxy statement for an annual shareholder meeting, with no immediate financial or operational risks indicated.

What should investors do after reading Essent Group Ltd.'s DEF 14A?

Shareholders should review the proxy materials to make informed voting decisions on director nominees, auditor appointment, and executive compensation. The overall sentiment from this filing is neutral.

How does Essent Group Ltd. compare to its industry peers?

Essent Group Ltd. operates in the surety insurance industry, and this filing pertains to its corporate governance and shareholder relations.

Are there regulatory concerns for Essent Group Ltd.?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

Risk Factors

  • Filing Compliance [low — regulatory]: The company must comply with SEC regulations for proxy solicitations and annual meetings.

Industry Context

Essent Group Ltd. operates in the surety insurance industry, and this filing pertains to its corporate governance and shareholder relations.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

What Investors Should Do

  1. Review the proxy statement for details on director nominees and their qualifications.
  2. Evaluate the proposal for the re-appointment of PricewaterhouseCoopers LLP as the independent auditor.
  3. Consider the advisory resolution on executive compensation and its alignment with company performance.

Key Dates

  • 2024-05-01: Annual General Meeting of Shareholders — Shareholders will vote on key corporate matters.
  • 2024-03-08: Record Date — Determines eligibility to vote at the annual meeting.

Glossary

DEF 14A
Definitive Proxy Statement (This filing formally solicits shareholder votes for the annual meeting.)
Class I Directors
A class of directors elected for a specific term. (Shareholders will vote on the election of these directors.)

Year-Over-Year Comparison

This is a Definitive Proxy Statement (DEF 14A) filed for the 2024 Annual General Meeting, indicating a formal solicitation of shareholder votes.

Filing Stats: 4,426 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-03-29 16:19:22

Key Financial Figures

  • $0.015 — record of our common shares, par value $0.015 per share, as of the close of business
  • $696 million — y during the year. In 2023, we earned $696 million or $6.50 per diluted share, compared to
  • $6.50 — r. In 2023, we earned $696 million or $6.50 per diluted share, compared to net inco
  • $831 million — iluted share, compared to net income of $831 million or $7.72 per diluted share in 2022, whi
  • $7.72 — mpared to net income of $831 million or $7.72 per diluted share in 2022, while genera
  • $175 million — 22 included a loss provision benefit of $175 million as a result of favorable development pr
  • $1.1 billion — era. Total revenues increased by 11% to $1.1 billion in 2023, attributable to a 5% growth of
  • $43 million — investment income, and the inclusion of $43 million in title revenues. Our book value per s
  • $5.1 billion — 23, ending the year with GAAP equity of $5.1 billion. Despite the broader market's focus o
  • $48 billion — g lending environment in 2023, we wrote $48 billion of new insurance written (NIW) and ende
  • $239 billion — ten (NIW) and ended year with an IIF of $239 billion and persistency of 87%. Given our in-fo
  • $1.4 billion — to some form of reinsurance, including $1.4 billion of Insurance-Linked Notes (ILN) and exc
  • $1 billion — al ratio in the industry at 8% and over $1 billion of total liquidity at the holding compa
  • $694 million — companies at the end of 2023, including $694 million of net cash and investments plus $400 m
  • $400 million — illion of net cash and investments plus $400 million of undrawn revolving credit capacity.

Filing Documents

From the Filing

tm246144-3_nonfiling - none - 12.406296s TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 Essent Group Ltd. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11 . TABLE OF CONTENTS TABLE OF CONTENTS Essent Group Ltd. Clarendon House 2 Church Street Hamilton HM11, Bermuda Notice of Annual General Meeting of Shareholders To Our Shareholders: You are cordially invited to attend the 2024 Annual General Meeting of Shareholders of Essent Group Ltd., a Bermuda limited company, which will be held via a live webcast originating from Bermuda at 8:00 a.m. Atlantic Daylight Time on May 1, 2024. Date: May 1, 2024 Time: 8:00 a.m., Atlantic Daylight Time Location: Live via the Internet originating from Bermuda. Please visit: https://web.lumiagm.com/209457238 Record Date: March 8, 2024 At the 2024 Annual General Meeting of Shareholders, shareholders of record as of the close of business on the record date will be asked to consider and vote upon the following matters, as more fully described in the Proxy Statement: (1) election of three Class I directors to serve through the 2027 Annual General Meeting of Shareholders; (2) re-appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the year ending December 31, 2024 and until our 2025 Annual General Meeting of Shareholders, and the referral the determination of the auditors' compensation to the Board of Directors; (3) a non-binding, advisory resolution on executive compensation; and (4) such other business that may properly come before the Annual Meeting. You will be able to attend and participate in the Annual Meeting online by visiting https://web.lumiagm.com/209457238 on the meeting date at the time described above and in the accompanying proxy statement. To participate, you will need your 16-digit control number included in your proxy materials, on your proxy card, or on the instructions that accompanied your proxy materials, and the meeting password, essent2024 (case sensitive). There is no physical location for the Annual Meeting. Your vote is important to us. To ensure that your shares are represented at the 2024 Annual General Meeting of Shareholders, whether or not you plan to participate in the virtual Annual Meeting, we encourage you to vote your shares electronically via the Internet, by telephone or, if you receive a paper copy of the proxy materials, by signing, dating and completing the accompanying proxy card in the enclosed postage-paid envelope. Voting electronically via the Internet, by telephone, or by returning your proxy card in advance of the meeting does not deprive you of your right to participate in the virtual Annual Meeting. If you participate in the virtual Annual Meeting, you may vote your shares in person, even if you have previously submitted a proxy in writing, by telephone or via the Internet. Our Proxy Statement includes additional instructions on voting procedures for shareholders whose shares are held by a brokerage firm or other custodian. By order of the Board of Directors, Conyers Corporate Services (Bermuda) Limited Secretary TABLE OF CONTENTS Proxy Statement for the 2024 Annual General Meeting of Shareholders Wednesday, May 1, 2024 8:00 a.m. Atlantic Daylight Time Live via the Internet originating from Bermuda Please visit: https://web.lumiagm.com/209457238 Passcode: essent2024 (case sensitive) The 2024 Annual General Meeting of Shareholders (the "Annual Meeting") of Essent Group Ltd. ("Essent," "we," "us," "our" or the "Company") will be held to consider and vote upon the following matters: (1) election of three Class I directors to serve through the 2027 Annual General Meeting of Shareholders; (2) re-appointment PricewaterhouseCoopers LLP as our independent registered public accounting firm for the year ending December 31, 2024 and until our 2025 Annual General Meeting of Shareholders, and the referral the determination of the auditors' compensation to the Board of Directors; (3) a non-binding, advisory resolution on executive compensation; and (4) such other business that may properly come before the Annual Meeting. Only holders of record of ou

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