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Essent Group sees YOY increase in Q1 net income

Essent GroupLtd. reported first-quarter net income of $48.0 million, or 52cents per share, compared to $34.8 million, or 38 cents per share, in theyear-ago quarter.

The S&P Capital IQ consensus GAAP EPS estimate for thequarter was 49 cents.

Comprehensive income totaled $61.3 million, compared to$39.7 million in the 2015 first quarter.

Total revenues grew year over year to $102.5 million from$80.0 million.

Net premiums written rose to $100.5 million from $82.3million. Net premiums earned climbed to $94.4 million from $75.0 million in theyear-ago quarter.

The combined ratio for the quarter came in at 37.2%, versus39.3% a year ago.

EssentReinsurance Ltd. reinsured a total of $34.9 million of risk in GSErisk share transactions in the first quarter.