Net premiums earned by the segment rose to $73 million from $30 million, due to the company’s move into non-mortgage P&C reinsurance. He said the P&C portfolio was weighted towards casualty and speciality business and required minimal extra capital from Essent Re, the group’s Bermudian-based reinsurance subsidiary. Management said the increase was expected and was because of the changing mix between highly profitable mortgage reinsurance and the growing conventional P&C portfolio. The contribution from P&C business to underwriting income was not yet material. Essent’s core mortgage insurance business ended the quarter with $249.7 billion of insurance in force, up 1.2 per cent year-on-year.