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RALEIGH, N.C. - Enact Holdings, Inc. (NASDAQ:ACT), a prominent U.S. private mortgage insurance provider with a market capitalization of $5 billion, has announced the appointment of H. Elizabeth Mitchell as an independent director to its Board of Directors, effective today. Alongside her directorship, she will serve on the Audit Committee. According to InvestingPro data, the company maintains a "GREAT" overall financial health score, with particularly strong profitability metrics including a robust 79% gross profit margin.
The company also disclosed that Anne G. Waleski will not seek re-election at the upcoming Annual Shareholder Meeting scheduled for May 14, 2025. Until that date, the board will temporarily expand from eleven to twelve directors.
Mitchell’s appointment brings a wealth of experience to the board, with her background in financial services and corporate governance. She has served on various boards, including Selective Insurance Group, Inc., Principal Financial Group, Inc., and StanCorp Financial Group, Inc. Her executive experience includes her role as CEO of Renaissance U.S. Inc. and its predecessor, Platinum Underwriters Reinsurance, Inc., until her retirement in 2016.
Dom Addesso, Chairperson of the Enact Board, expressed enthusiasm for Mitchell’s joining, citing her deep financial expertise and industry experience as valuable assets for the company’s growth and shareholder value.
Meanwhile, Waleski, a board member since 2021, will continue her duties until the May meeting. Addesso acknowledged her contributions and dedication to Enact, stating her departure is not due to any disagreements with the company’s operations or practices.
Enact, operating mainly through Enact Mortgage Insurance Corporation since 1981, is committed to facilitating homeownership in the U.S. The company emphasizes strong partnerships with lenders, underwriting expertise, and risk and capital management.
This news is based on a press release statement from Enact Holdings, Inc.
In other recent news, Alchimp Group AG announced its Q4 2024 financial results, revealing a mixed performance. The company reported an earnings per share (EPS) of $1.09, exceeding the forecast of $1.04, while revenue came in at $301.77 million, falling short of the expected $309.37 million. Despite the revenue miss, Alchimp Group AG achieved record sales of €554 million for the year, marking a 3% year-over-year increase. The specialty chemicals segment was a significant contributor, accounting for 63% of total sales. The company’s EBITDA increased by 30% to €105.3 million, with a margin improvement to 19%. A proposed dividend increase of 50% to €1.8 per share was also announced. For 2025, Alchimp Group AG has set a sales guidance of €580 million, representing 5% growth, and an EBITDA target of €113 million, a 7% increase. The company plans to invest around €100 million in capital expenditures, focusing on expanding its specialty chemicals segment and exploring mergers and acquisitions opportunities in the U.S.
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