Genworth Financial

Genworth Financial, Inc. is a financial services company, which engages in the provision of insurance, wealth management, investment and financial solutions. It operates through the following segments: U.S. Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products predominantly insuring prime-based, individually underwritten residential mortgage loans. The Australia Mortgage Insurance segment offers flow mortgage insurance and selectively provides bulk mortgage insurance that aids in the sale of mortgages to the capital markets and helps lenders manage capital and risk. The U.S. Life Insurance segment offers long-term care insurance products as well as service traditional life insurance and fixed annuity products in the United States. The Runoff segment includes the results of non-strategic products which are no longer actively sold but continue to service its existing blocks of business. Its non-strategic products primarily include variable annuity, variable life insurance, institutional, corporate-owned life insurance and other accident and health insurance products. The company was founded in1871 and is headquartered in Richmond, VA.

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Genworth Financial reports robust Q4 earnings and strategic achievements

Genworth Financial's Q4 2022 performance showcased strong financial results and strategic accomplishments, positioning the company for future growth.
While facing challenges in areas like LTC assumptions and financial reporting standards, Genworth's strengths in Enact's performance and strategic initiatives offer opportunities for value creation.
The company's ability to balance shareholder returns with growth investments underscores its resilience and commitment to long-term success.

Genworth Financial reports resilient Q1 performance amidst economic challenges

Genworth Financial navigated economic challenges to deliver strong Q1 results, with Enact and the Life Insurance segment performing well. Despite challenges from LDTI adoption and economic headwinds, the company is focused on strategic priorities and growth opportunities.

Genworth reports mixed Q2 results, Enact's strength shines

Genworth Financial and Enact showed mixed performance in Q2 2023, with strong results from Enact contrasting with challenges in Genworth's LTC business.
Share repurchases, increased dividend payments, and strategic priorities indicate a focus on enhancing shareholder value and long-term growth.
Addressing challenges in the LTC business and leveraging opportunities in Enact's excess cash position are key areas for future success.

Genworth Financial reports mixed Q3 results, focuses on LTC strategy

Genworth Financial's Q3 2023 performance showcased mixed results with strong performance from Enact but challenges in LTC. The company's strategic focus on LTC rate actions and CareScout Services highlights a commitment to long-term growth and shareholder value. Despite challenges, Genworth's conservative investment approach and capital allocation strategies position them well for future opportunities.

Genworth Financial reports Q4 loss, Enact's resilience shines

Genworth Financial navigated a challenging Q4 2023 with a net loss driven by issues in Life and Annuities and LTC. Despite this, Enact's performance was a bright spot, and the company made significant progress with its rate action plan. Ratings upgrades and strategic initiatives signal a path towards growth and stability.

Genworth Financial reports strong Q1 earnings driven by Enact

Genworth Financial's Q1 performance was driven by Enact's strength, with a focus on improving the LTC insurance business and expanding CareScout services. While facing challenges in the Life and Annuities segment, Genworth aims to capitalize on opportunities for growth and profitability through strategic initiatives. The company's financial position remains stable, supported by Enact's performance and capital management efforts.

Genworth Financial reports strong Q2 earnings driven by Enact

Genworth Financial's Q2 2024 performance was solid, with Enact leading results and contributing significantly to the company's overall performance. While challenges exist in the LTC segment's operating loss, strategic priorities and opportunities for growth through Enact and CareScout position Genworth well for future success.

Genworth Financial reports solid Q3 performance amidst strategic growth initiatives

Genworth Financial's Q3 performance was marked by strong contributions from Enact and challenges in the U.S. life insurance segment.
Maintaining a strong liquidity position and strategic focus on growth areas like CareScout and LTC market reentry are key strengths.
Challenges include operational losses in the life insurance segment and uncertainties around LTC costs and federal programs.
Opportunities lie in expanding CareScout's offerings, reentering the LTC market, and exploring collaborations in the LTC space.

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Genworth Financial, Inc. engages in offering mortgage and long-term care insurance products. It operates through the following segments: Enact, Long-Term Care Insurance, Life and Annuities, and Corporate and Other. The Enact segment refers to Enact Holdings that offer private mortgage insurance products. The Long-Term Care Insurance segment offers long-term care insurance products in the United States. The Life and Annuities segment focuses on protection and retirement income products. The Corporate and Other segment includes debt financing expenses. The company was founded in 1871 and is headquartered in Glen Allen, VA.

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Genworth Financial, Inc (NYSE:GNW ) Q2 2023 Earnings Conference Call August 9, 2023 9:00 AM ET Company Participants Sarah Crews - Investor Relations Tom McInerney - President and Chief Executive Officer Jerome Upton - Chief Financial Officer Conference Call Participants Joshua Esterov - CreditSights Operator Good morning, ladies and gentlemen and welcome to Genworth Financial's Second Quarter 2023 Earnings Conference Call. My name is Karen and I will be your coordinator today.

Genworth Financial, Inc (GNW) Q2 2023 Earnings Call Transcript

RICHMOND, Va.--(BUSINESS WIRE)---- $GNW--Genworth Reports Second Quarter 2023 Results.

Genworth Financial Announces Second Quarter 2023 Results

Genworth reports Q2 earnings this week. Heading into earnings, the company is fairly valued at $6.24/sh. Shareholders would benefit from a more aggressive reduction in the company's debt.

Genworth Financial: Valuation Update

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RICHMOND, Va.--(BUSINESS WIRE)---- $GNW--Genworth Financial Postpones Second Quarter 2023 Earnings Release.

Genworth Financial Postpones Second Quarter 2023 Earnings Release

RICHMOND, Va.--(BUSINESS WIRE)---- $GNW--Genworth Financial Announces $350 Million Expansion of Existing Share Repurchase Program.

Genworth Financial Announces $350 Million Expansion of Existing Share Repurchase Program

RICHMOND, Va.--(BUSINESS WIRE)---- $GNW--Genworth Financial Schedules Earnings Conference Call for August 2.

Genworth Financial Schedules Earnings Conference Call for August 2

The number of victims of the MOVEit hack grew by several million on Thursday after the biggest U.S. pension fund, Calpers, and insurer Genworth Financial said personal information of their members and customers had been compromised.

MOVEit hack claims Calpers and Genworth as millions more victims impacted

Genworth Financial Inc. GNW, -1.58% said late Thursday it does not believe a security issue involving a file-transfer system has had a material effect on its business. In a filing with the Securities and Exchange Commission late Thursday, Genworth said PBI Research Services, one of the insurer's vendors, alerted the company of the recent hack of MOVEit, a file sharing tool PBI uses The company said it “believes that the personal information of a significant number of insurance policyholders or other customers of its life insurance businesses was unlawfully accessed, and is working to ensure that protection services are provided to those impacted individuals on any of the company's information systems, including its financial systems, and that there has not been any material interruption of the company's business operations.

Genworth says file-share hack won't impact business

Genworth Financial's stake in Enact Holdings is worth over $3 billion, making the company undervalued with a market cap of around $2.4 billion. The company has improved its balance sheet, reduced debt, and built a solid investment portfolio, supporting the investment case at current price levels. Risks include losses in the long-term care insurance segment and potential impact on financial strength ratings.

Genworth Financial: Beaten Down Valuation Makes It A Buy

Earnings were down significantly in the first quarter as Genworth missed analysts consensus estimates. The stock price is down about 12% year to date.

Why Genworth Financial Stock Was Dropping Today

Genworth Financial, Inc. (NYSE:GNW ) Q1 2023 Earnings Conference Call May 4, 2023 9:00 AM ET Company Participants Sarah Crews - Director, Investor Relations Tom McInerney - President and CEO Jerome Upton - Chief Financial Officer Brian Haendiges - President, U.S. Life Insurance Business Kelly Saltzgaber - Chief Investment Officer Conference Call Participants Brett Osetec - KBW Operator Please standby, we are about to begin. Good morning, ladies and gentlemen.

Genworth Financial, Inc. (GNW) Q1 2023 Earnings Call Transcript

RICHMOND, Va.--(BUSINESS WIRE)---- $GNW--Genworth Financial Announces First Quarter 2023 Results.

Genworth Financial Announces First Quarter 2023 Results

Genworth Financial Schedules Earnings Conference Call for May 4

Genworth's long-term debt reduction strategy saw it achieve its target of ⁓$1 billion in FY 2022. The liquidity of Enact Holdings did not decline below 13.5% of its outstanding debt in FY 2022 while retaining up to $453 million in cash.

Genworth Financial: Heading Towards A Positive Trajectory

The current market capitalization of Enact is around $3.6 billion. Whereas Genworth, which owns around 81.6% stake in Enact, is trading at just $2.5 billion. The company has produced over $600 million in net profits, which gives it earnings multiple of about 4 times based on its 2022 earnings.

Genworth Financial: Trading At A Substantial Discount

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RICHMOND, Va.--(BUSINESS WIRE)---- $GNW #genworth--Genworth Financial, Inc. (NYSE: GNW) today announced the second ratings upgrade since its fourth quarter earnings results as Moody's Investors Service (Moody's) upgraded the Genworth Holdings, Inc. backed senior unsecured debt rating to Ba1 from Ba2, signifying a one-notch upgrade. The outlook for the rating remains stable.

Genworth Financial Receives Ratings Upgrade from Moody's

RICHMOND, Va.--(BUSINESS WIRE)---- $GNW #genworth--Genworth announced S&P Global Ratings has upgraded the Genworth Financial, Inc. and Genworth Holdings, Inc. issuer credit ratings from B+ to BB-.

Genworth Financial Receives Ratings Upgrades from S&P Global

Genworth Financial, Inc. (NYSE:GNW ) Q4 2022 Earnings Conference Call February 7, 2023 9:00 AM ET Company Participants Sarah Crews - Director, Investor Relations Thomas McInerney - President, CEO & Director Daniel Sheehan - EVP, CFO & CIO Brian Haendiges - President & CEO, U.S. Life Insurance Conference Call Participants Joshua Esterov - CreditSights Ryan Krueger - KBW Operator Good morning, ladies and gentlemen, and welcome to Genworth Financial's Fourth Quarter 2022 Earnings Conference Call. My name is Jim, and I will be your coordinator today.

Genworth Financial, Inc. (GNW) Q4 2022 Earnings Call Transcript

Enact segment fourth quarter adjusted operating income of $120 million, with 10 percent annual growth in primary insurance in-force. Received $168 million capital returns from Enact in the fourth quarter, including $148 million special dividend. U.S. Life Insurance segment fourth quarter adjusted operating income of $38 million.

Genworth Financial Announces Fourth Quarter 2022 Results

RICHMOND, Va.--(BUSINESS WIRE)--Genworth Financial, Inc. (NYSE: GNW) today announced an update to its senior leadership structure whereby it will separate the roles of Chief Financial Officer (CFO) and Chief Investment Officer (CIO) in early March. At that time, Dan Sheehan will transition out of his current combined role of Executive Vice President, CFO and CIO. Jerome Upton will be appointed Executive Vice President and CFO, and Kelly Saltzgaber will be appointed Executive Vice President and CIO.

Genworth Announces Update to Leadership Structure

RICHMOND, Va.--( BUSINESS WIRE )--Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing fourth quarter results after the market closes on February 6, 2023. A conference call will be held on February 7, 2023 at 9:00 a.m. (ET) to discuss the quarter's results.

Genworth Financial Schedules Earnings Conference Call for February 7

Genworth Financial has had high income growth over the past 5 years. Genworth Financial shows rising free cash flow.

News for Genworth Financial Stock (GNW)