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.

RICHMOND, Va., July 21, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) announced today that Genworth Holdings, Inc. ("Genworth Holdings"), its direct wholly-owned subsidiary, has completed the redemption of all $513 million aggregate principal amount of its outstanding 7.625% Senior Notes (the "Notes") due 2021.

Genworth Completes Redemption of Outstanding 2021 Senior Notes

RICHMOND, Va., July 13, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing second quarter results after the market closes on August 3, 2021.

Genworth Financial Schedules Earnings Conference Call For August 4th

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RICHMOND, Va., June 21, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) announced today that Genworth Holdings, Inc. ("Genworth Holdings"), its direct wholly-owned subsidiary, has issued a notice of redemption for all of its outstanding 7.625% Senior Notes (the "Notes") due 2021.

Genworth Announces Redemption of Outstanding 2021 Senior Notes

RICHMOND, Va., June 10, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today released monthly operating statistics related to credit performance of the mortgage insurance portfolio for Enact Holdings, Inc. (Enact), its wholly-owned subsidiary formerly known as Genworth Mortgage Holdings, Inc., for the months of April and May 2021.

Genworth Financial Releases Monthly Operating Statistics for Enact Holdings, Inc.

RALEIGH, N.C., May 24, 2021 /PRNewswire/ -- Enact Holdings, Inc. (Enact) a leading provider of private mortgage insurance through its insurance subsidiaries, is introducing its new brand and visual identity.

Introducing Enact, a Leading Private Mortgage Insurance Group

This leader in long-term care insurance is a good buy at its present value.

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RICHMOND, Va., May 13, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) (Genworth) today announced that it has postponed the previously announced initial public offering (IPO) of its subsidiary, Enact Holdings, Inc. (Enact).

Genworth Financial Postpones Planned IPO of Enact

The bulls have been in control of Genworth Financial (NYSE: GNW). Over the past month, the price of the shares has climbed by about 30%.

Is It Time To Sell Genworth Financial?

Genworth Financial, Inc. (GNW) CEO Tom McInerney on Q1 2021 Results - Earnings Call Transcript

RICHMOND, Va., April 29, 2021 /PRNewswire/ -- First Quarter Net Income Of $187 Million And Adjusted Operating Income Of $168 Million Executing On The Company's Strategic Plan Following The Termination Of The Merger Agreement With China Oceanwide Holdings Group Co., Ltd (Oceanwide) Completed Sale Of Genworth's Interest In Genworth Mortgage Insurance Australia Limited (Genworth Australia) During The Quarter, Resulting In Net Proceeds Of $123 Million After $247 Million Payment To AXA S.A.

Genworth Financial Announces First Quarter 2021 Results

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NEW YORK, April 27, 2021 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the opening of trading on Monday, May 3: Genpact Limited (NYSE:G) will replace Genworth Financial Inc. (NYSE:GNW) in the S&P MidCap 400, and Genworth Financial will replace Glu Mobile Inc. (NASD:GLUU) in the S&P SmallCap 600. S&P 500 constituent Electronic Arts Inc. (NASD: EA) is acquiring Glu Mobile in a deal expected to be completed soon pending final conditions.

Genpact Set to Join S&P MidCap 400; Unitil & Genworth Financial to Join S&P SmallCap 600

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RICHMOND, Va., April 19, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) (Genworth, the Company) today announced that its wholly owned subsidiary, Genworth Mortgage Holdings, Inc. (GMHI), has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the SEC) in connection with the proposed initial public offering (the offering) of its common stock.

Genworth Announces Filing of Registration Statement for Proposed Initial Public Offering by its U.S. Mortgage Insurance Business

RICHMOND, Va., April 15, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing first quarter results after the market closes on April 29, 2021.

Genworth Financial Schedules Earnings Conference Call For April 30th

RICHMOND, Va., April 6, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) (Genworth, the Company) today announced that it has exercised its right to terminate its merger agreement with China Oceanwide Holdings Group Co., Ltd.

Genworth Announces Termination of Merger Agreement with Oceanwide

Genworth's planned U.S. mortgage insurance IPO alleviates liquidity concerns at the company's holding company and will unlock value for its shareholders. A market comp of Genworth's U.S. mortgage insurance peers implies it is a good time to take the company's subsidiary to market.

Genworth Financial, Inc.: Great Time To Buy

RICHMOND, Va., March 23, 2021 /PRNewswire/ -- Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. (NYSE: GNW), today released the 15th edition of the First-Time Homebuyer Market Report, authored by its Chief Economist, Tian Liu, for the fourth quarter and full-year of 2020.

Genworth Mortgage Insurance's Economist Report, Fourth Quarter and Full-Year 2020: 2020 Best Year on Record for First-Time Homebuyer Market

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RICHMOND, Va., Feb. 28, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that its wholly owned subsidiaries Genworth Financial International Holdings, LLC and Genworth Holdings, Inc. (as partners) (together, "Genworth") have sold, through an underwritten...

Genworth Financial Announces Sale of Its Interest in Genworth Mortgage Insurance Australia Limited

Genworth Financial, Inc. (GNW) CEO Tom McInerney on Q4 2020 Results - Earnings Call Transcript

RICHMOND, Va., Feb. 16, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that its 2021 Annual Meeting will be held as a virtual meeting on Thursday, May 20, 2021, at 9:00 a.m. Eastern Time. Holders of record of Genworth's Class A common stock on March 22, 2021,...

Genworth Announces Date of 2021 Annual Stockholders Meeting

Shares of Genworth Finl (NYSE:GNW) increased in after-market trading after the company reported Q4 results. Quarterly Results Earnings per share rose 580.00% over the past year to $0.34, which beat the estimate of $0.22.

Recap: Genworth Finl Q4 Earnings

RICHMOND, Va., Feb. 16, 2021 /PRNewswire/ -- Fourth Quarter Net Income Of $267 Million And Adjusted Operating Income Of $173 Million; 2020 Full Year Net Income Of $178 Million And Adjusted Operating Income Of $317 Million U.S. Mortgage Insurance (MI) 2020 Full Year Adjusted Operating...

News for Genworth Financial Stock (GNW)