Statutory Accounting (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of statutory net income, statutory surplus and contingency reserve liability

The statutory capital and surplus and statutory income for Essent Re at March 31, 2016 was as follows:



(In thousands)	Actual		Required
Statutory capital and surplus:	$	225,949	$	1,000

Statutory net income:	$	9,437

The following table presents Essent Guaranty’s and Essent PA’s statutory net income, statutory surplus and contingency reserve liability as of and for the three months ended March 31:



(In thousands)	2016		2015
Essent Guaranty
Statutory net income	$	48,486	$	40,174
Statutory surplus	532,199		471,240
Contingency reserve liability	353,063		211,296

Essent PA
Statutory net income	$	3,516	$	4,148
Statutory surplus	44,469		43,928
Contingency reserve liability	29,898		19,744

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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