Essent Group Ltd. (NYSE:ESNT) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET

Company Participants

Philip Stefano - Vice President-Investor Relations

Mark Casale - Chairman & Chief Executive Officer

David Weinstock - Chief Financial Officer

Chris Curran - President-Essent Guaranty

Conference Call Participants

Bose George - Keefe, Bruyette, & Woods, Inc.

Mihir Bhatia - BofA Securities

Richard Shane - JPMorgan

Eric Hagen - BTIG

Operator

Thank you for standing by. My name is Adam, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Essent Group Limited Third Quarter Earnings Call. [Operator Instructions].

I'd now like to turn the call over to Phil Stefano. Please go ahead.

Philip Stefano

Thank you, Adam. Good morning, everyone, and welcome to our call. Joining me today are Mark Casale, Chairman and CEO; and David Weinstock, Chief Financial Officer. Also on hand for the Q&A portion of the call is Chris Curran, President of Essent Guaranty.

Our press release, which contains Essent's financial results for the third quarter of 2023 was issued earlier today and is available on our website at essentgroup.com. Our press release this quarter includes non-GAAP financial measures that may be discussed during today's call. A complete description of these measures and the reconciliation to GAAP may be found in Exhibit O of our press release.

Prior to getting started, I would like to remind participants that today's discussions are being recorded and will include the use of forward-looking statements. These statements are based on current expectations, estimates, projections and assumptions that are subject to risks and uncertainties, which may cause our actual results to differ materially. For a discussion of these risks and uncertainties, please review the cautionary language regarding forward-looking statements in today's press release, the risk factors that included in Form 10-K filed with the SEC on February 17, 2023, and any other reports and registration statements filed with the SEC, which are also available on our website. Now let me turn the call over to Mark.

Mark Casale

Thanks, Phil, and good morning, everyone. Earlier today, we released our third quarter 2023 financial results, which continue to benefit from both favorable credit performance and the current interest rate environment. As mentioned last quarter, rising interest rates continue to drive higher investment income and elevated persistency, which has supported our revenue growth this year. As we look ahead, we remain encouraged by the resilience of the housing and labor markets.