Essent Group Ltd. (ESNT) Earnings Call Transcript & Summary

Hello, and welcome to the 2022 Essent Group Annual Meeting of Shareholders. Please note that this meeting is being recorded. It is my pleasure now to turn the meeting over to Chris Garrod. Mr. Garrod, the floor is yours.

Thank you. I now call the meeting to order. We have not received notice from any of our shareholders of any matters to be considered at today's meeting, other than those described in the notice of this meeting. And therefore, no other proposals may be properly introduced by shareholders. My name is Chris Garrod. On behalf of Conyers Corporate Services (Bermuda) Limited, the Secretary of the company, I will act as the Chairman and Secretary of this meeting. On March 31, 2022, notice of the meeting, together with the company's annual report for the year ended December 31, 2021, and related proxy materials were mailed to all shareholders of record as of the close of business on March 4, 2022. A quorum of the outstanding voting shares of the company is present at this meeting by proxy. And this meeting is therefore properly and legally convened. I'd like to recognize Ken Dubbs from PwC, the company's independent registered public accounting firm, who is with us today. The Secretary will note that the financial statements for the year ended December 30, 2021, have been received by the shareholders at this meeting. The next items of business before the meetings are as follows: the election of 3 Class II directors of the company to serve through the 2025 Annual Meeting, each of Robert Glanville, Angela Heise and Allan Levine, have been nominated to serve as Class II directors; the reappointment of PwC as the company's independent registered public accounting firm for 2022 and until 2023 Annual Meeting; and the referral of the determination of the auditor's compensation to the Board of Directors; the approval of the 2021 compensation of the company, its named executive officers, as discussed in the proxy statement; and finally, an advisory vote on how frequently to hold future shareholder advisory votes on the company's executive compensation. Based on the votes submitted by proxy prior to this meeting, each of Robert Glanville, Angela Heise and Allan Levine have been elected as Class II members of the Board of Directors to serve through the 2025 Annual Meeting, with each candidate receiving affirmative votes representing more than a majority of the votes cast. Secondly, the appointment of PwC as the company's independent registered public accounting firm for the year ending December 31, 2021, and until the 2022 Annual Meeting and the referral of the determination of the auditor's compensation to the Board of Directors has [ proved ] by more than the majority of the votes cast. Thirdly, the compensation of the company's named officers -- executive officers as disclosed in the proxy statement, pursuant to the compensation disclosure rules of the SEC, has been approved by the shareholders by more than a majority of the votes cast. And finally, the shareholders holding more than a majority of the votes cast have voted in favor of holding a shareholder advisory vote on executive compensation every year. You have now heard the results of the voting. And this completes the business to be conducted at this meeting. However, should you have any questions regarding any of the items which we have just dealt with at this meeting, please feel free to e-mail them to [email protected]. That's [email protected]. Since there are no other matters to come before the meeting, I hereby declare this meeting adjourned. Thank you.