Enact Reports Third Quarter 2026 Results; Announces $0.24 Quarterly Dividend

(NASDAQ:ACT) Enact Holdings, Inc. reported financial results for the third quarter of 2026. Net income for the quarter was $159 million, or $1.15 per diluted share, compared to $175 million, or $1.25 per diluted share, in the second quarter of 2026 and $163 million, or $1.10 per diluted share, in the third quarter of 2025. Adjusted operating income was $164 million, or $1.19 per diluted share, versus $177 million, or $1.26 per diluted share, in the prior quarter and $166 million, or $1.12 per diluted share, in the prior year period. New insurance written (NIW) totaled $14 billion, down 7% sequentially due to lower refinance activity and flat year-over-year, with 95% monthly premium policies and 93% purchase originations. The primary persistency rate was 81%, up from 80% in the previous quarter and down from 83% a year ago. Approximately 89% of loans in the portfolio carry mortgage rates below 7%. Primary insurance in-force (IIF) was $275 billion, nearly unchanged from $274 billion in the prior quarter and up from $272 billion a year ago. Net premiums earned were $242 million, down from $245 million in both the prior quarter and prior year, primarily due to higher ceded premiums from quota share reinsurance, partially offset by premium growth in adjacencies and IIF growth. Losses incurred were $47 million with a loss ratio of 20%, compared to $33 million and 14% in the prior quarter and $36 million and 15% in the prior year. The quarter included a $37 million reserve release, compared to $37 million in the prior quarter and $45 million a year ago. Operating expenses were $50 million with an expense ratio of 21%, compared to $52 million and 21% in the prior quarter and $53 million and 22% in the prior year, driven by favorable ceding commissions and expense management. Operating expense guidance, excluding reorganization costs, was adjusted to the lower end of the $205 million to $210 million range. Net investment income was $74 million, up from $73 million in the prior quarter and $69 million a year ago. Net investment losses were $(6) million, compared to $(2) million in the prior quarter and $(3) million a year ago. Annualized return on equity was 12.0% and annualized adjusted operating return on equity was 12.4%. During the quarter, Enact announced a quota share reinsurance agreement with a panel of highly-rated reinsurers to cede approximately 35% of expected new insurance written for the 2028 book year. The company paid a $33 million, or $0.24 per share, dividend in the quarter. EMICO completed a $200 million dividend to EHI, primarily to support capital returns and financial flexibility. Enact held $286 million in cash and cash equivalents and $427 million in invested assets as of September 30, 2026, with combined cash and invested assets up $52 million from the prior quarter. AM Best upgraded the insurance financial strength rating for EMICO and EMIC-NC to A from A-, and the long-term issuer rating for EHI to bbb from bbb-, with stable outlooks. PMIERs sufficiency was 158% and $1.8 billion above requirements, compared to 161% and $1.9 billion in the prior quarter and 162% and $1.9 billion a year ago, with the decrease primarily due to the EMICO dividend to EHI. The company repurchased approximately 2.4 million shares at an average price of $48.19 for a total of $118 million in the quarter, and through November 3, 2026, repurchased an additional 1.3 million shares at an average price of $45.68 for $57 million. Approximately $200 million remains under the $500 million repurchase authorization. The Board declared a $0.24 per common share dividend, payable December 17, 2026, to shareholders of record on November 25, 2026. Enact anticipates a total 2026 capital return of approximately $600 million, with the final amount and form dependent on business performance, market conditions, and regulatory approval.

Aduro Clean Technologies Inc. (ACT) Opens the Market

(TSX: ACT) Aduro Clean Technologies Inc. joined Dani Lipkin, Managing Director, Global Innovation Sector, Toronto Stock Exchange, to open the market to celebrate the Company's new listing to TSX. Aduro is a clean technology company using the power of chemistry to transform lower-value feedstocks, including waste plastics, heavy bitumen, paraffinic crude oils, and renewable oils, into resources for the 21st century. The Company is advancing Hydrochemolytic™ Technology ("HCT"), a thermo-catalytic technology that utilizes water in its process to convert complex hydrocarbon materials into higher-value products. Aduro's listing on TSX marks an important step in the Company's capital markets development, aligning its Canadian listing profile with its broader public-market presence in the United States and Europe. The Company is advancing a structured scale-up pathway that includes NGP Pilot Plant operating campaigns in London, Ontario, and FOAK industrial project development in Europe. Recent bench-scale work has also extended HCT to highly paraffinic crude oils, further supporting the potential applicability of HCT across diverse hydrocarbon streams.

Enact Announces 14% Increase to Quarterly Dividend

Enact Holdings, Inc. (Nasdaq: ACT) announced that its Board of Directors declared a quarterly dividend of $0.24 per common share, representing a 14% increase from the prior quarter’s dividend. The dividend will be payable on June 18, 2026 to shareholders of record on May 28, 2026. The company highlighted its continued financial strength and commitment to long-term value creation for shareholders. Enact operates primarily through its wholly-owned subsidiary Enact Mortgage Insurance Corporation and is a leading U.S. private mortgage insurance provider. The announcement underscores Enact's focus on balancing capital returns with business investment and customer support.