09/27/2021 | Press release | Distributed by Public on 09/27/2021 06:48
RALEIGH, N.C., Sept. 27, 2021/PRNewswire/ -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that ratings agencies have made several updates to various ratings and outlooks for the company and its core insurance subsidiary, Genworth Mortgage Insurance Corporation (GMICO).
The ratings upgrades from the agencies reflect Enact's strong position in the U.S. mortgage insurance industry, strong capital position and financial flexibility, enhanced governance, and declining delinquency rate.
"Combined with Enact's strong customer relationships, best-in-class underwriting, extensive risk and capital management expertise, and strong capital position, these ratings upgrades enable us to continue serving our lender partners across the U.S.," said Rohit Gupta, Chief Executive Officer.
Additional information regarding the rating changes can be found in the full reports issued by Fitch Ratings, Moody's and S&P last week.
About Enact
Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Genworth Mortgage Insurance Corp. since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.
SOURCE Enact Holdings, Inc.