Net income for Q1 2026 was $171.8 million, a decrease from $175.4 million in Q1 2025. Diluted earnings per share (EPS) increased to $1.82 in Q1 2026 from $1.69 in Q1 2025. Total revenues grew to $336.1 million in Q1 2026, up from $317.6 million in Q1 2025. Net premiums earned increased to $260.1 million in Q1 2026 from $245.8 million in Q1 2025, primarily due to new property and casualty reinsurance. The provision for losses and loss adjustment expenses (LAE) significantly increased to $48.2 million in Q1 2026 from $31.3 million in Q1 2025, attributed to new P&C reinsurance and aging mortgage defaults. The Mortgage Insurance segment's income before income tax decreased to $190.1 million in Q1 2026 from $193.9 million in Q1 2025. The Reinsurance segment's income before income tax decreased to $15.5 million in Q1 2026 from $20.9 million in Q1 2025, despite revenue growth, due to higher loss provisions for P&C reinsurance. Stockholders' equity decreased to $5.7 billion as of March 31, 2026, from $5.8 billion as of December 31, 2025, primarily due to share repurchases and unrealized investment losses. The company repurchased 2,594,197 common shares for $157.0 million during Q1 2026. A quarterly cash dividend of $0.35 per common share was declared, payable on June 10, 2026. Essent Guaranty remains in compliance with Private Mortgage Insurer Eligibility Requirements (PMIERs), with Available Assets of $3.6 billion, representing 174% of its Minimum Required Assets of $2.1 billion. The risk-to-capital ratio for Essent Guaranty was 8.6:1 as of March 31, 2026.