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

Genworth Financial Receives Ratings Upgrade From S&P

RICHMOND, Va.--(BUSINESS WIRE)-- #CostOfCare--Genworth's 2021 Cost of Care Survey finds long-term care costs increase due to labor market shifts & costs associated with continued COVID-19 response

Genworth's 2021 Cost of Care Survey: Long-Term Care Costs Increase Due to Labor Market Shifts and Costs Associated with Continued COVID-19 Response

Genworth Financial, Inc. (GNW) CEO Tom McInerney on Q4 2021 Results - Earnings Call Transcript

RICHMOND, Va.--(BUSINESS WIRE)---- $GNW #genworth--Genworth Financial Announces Fourth Quarter 2021 Results

Genworth Financial Announces Fourth Quarter 2021 Results

RICHMOND, Va.--(BUSINESS WIRE)---- $GNW #Genworth--Genworth Financial, Inc. will issue its fourth quarter earnings release on Feb 1, 2022. A conference call will be held on Feb 2, 2022 at 9 a.m. (ET).

Genworth Financial Schedules Earnings Conference Call For February 2nd

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Enact Holdings

RICHMOND, Va., Dec. 15, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) ("Genworth"), announced today that Genworth Holdings, Inc. ("Genworth Holdings"), its direct wholly-owned subsidiary, has completed the redemption of all $308 million aggregate principal amount of its outstanding 4.900% Senior Notes due 2023 (the "Notes").

Genworth Completes Redemption of Outstanding 2023 Senior Notes

Genworth's managers have their plan to return the company to growth and prosperity.

Genworth Financial, Inc.: Long-Term Upside, Near-Term Lull

RICHMOND, Va., Nov. 15, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) ("Genworth"), announced today that Genworth Holdings, Inc. ("Genworth Holdings"), its direct wholly-owned subsidiary, has issued a notice of redemption for all of its outstanding 4.900% Senior Notes (the "Notes") due 2023.

Genworth Announces Redemption of Outstanding 2023 Senior Notes

Genworth Financial, Inc. (GNW) CEO Thomas McInerney on Q3 2021 Results - Earnings Call Transcript

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RICHMOND, Va., Oct. 8, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing third quarter results after the market closes on November 2, 2021.

Genworth Financial Schedules Earnings Conference Call For November 3rd

RICHMOND, Va., Sept. 27, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) (Genworth) today announced that ratings agencies have recently made several updates to various ratings and outlooks for Genworth and certain of its holding company subsidiaries:  On September 21, Moody's Investors Service (Moody's) upgraded the Genworth Holdings, Inc. backed senior unsecured debt rating to B1 from Caa1.

Genworth Financial Receives Ratings Upgrades from Moody's and S&P

RICHMOND, Va., Sept. 21, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) (Genworth) today announced that it has successfully retired in full the outstanding balance on its Promissory Note with AXA, S.A.

Genworth Financial Announces Retirement in Full of its Promissory Note with AXA

RICHMOND, Va., Sept. 20, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW)  today announced that it has successfully completed the initial public offering (IPO) of its subsidiary, Enact Holdings, Inc. (Enact), a leading provider of private mortgage insurance through its insurance subsidiaries.

Genworth Financial Announces Completion of the IPO of Enact Holdings, Inc.

RICHMOND, Va., Sept. 13, 2021 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) (Genworth, the Company) today announced that its wholly owned subsidiary, Enact Holdings, Inc. (Enact), has amended its registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the SEC) in connection with its proposed initial public offering.

Genworth Announces Amendment of Registration Statement for Proposed Initial Public Offering by Enact

GNW's mortgage insurance segment has grown significantly, and the positive housing outlook provides a bullish scenario for Enact's growth prospects. The management waits for better entry timing for the planned IPO until forbearance plan expirations in September and October clear up the operating environment.

Genworth Financial: Enact's IPO As A Catalyst

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of “bb+” (Fair) of Genworth Life and Annuity Insurance Company (GLAIC) (Richmond, VA). The outlook of the FSR is stable. Concurrently, AM Best has affirmed the FSR of C++ (Marginal) and the Long-Term ICRs of “b” (Marginal) of Genworth Life Insurance Company (GLIC) (Wilming

AM Best Revises Issuer Credit Rating Outlook to Negative for Genworth Life and Annuity Insurance Company; Affirms Credit Ratings of Genworth Financial, Inc. and Its U.S. Life Subsidiaries

Genworth has refiled its planned IPO of Enact Holdings, Inc. with the SEC after shelving it earlier this year. The proceeds from the IPO, private placement of additional shares, and a fourth quarter dividend from Enact will put Genworth in a strong financial position heading into 2022.

Genworth Financial, Inc.: Another Bite At The IPO Apple

Enact Holdings Refiles For U.S. IPO

Genworth Financial, Inc. (GNW) CEO Thomas McInerney on Q2 2021 Results - Earnings Call Transcript

The stock price of Genworth Financial Inc (NYSE: GNW) increased by over 4% pre-market. This is why it happened.

GNW Stock Price Increases Over 4% Pre-Market: Why It Happened

RICHMOND, Va., Aug. 3, 2021 /PRNewswire/ -- Continued Progress On Company's Strategic Objectives With Strong Second Quarter Earnings, Preparations For An Initial Public Offering (IPO) Of Minority Interest In Enact1 And Holding Company Debt Reduction Enact Adjusted Operating Income Of $135 Million From Favorable Loss Performance Driven By Lower New Delinquencies Enact's PMIERs2 Sufficiency Ratio Estimated At 165 Percent, $1,941 Million Above Published Requirements U.S. Life Insurance Segment Adjusted Operating Income Of $71 Million Driven By LTC3 Results Benefitting From In Force Rate Actions And Net Investment Income Continued Progress Toward LTC Multi-Year Rate Action Plan (MYRAP) With $49 Million Incremental Annual Rate Increases Approved In Second Quarter, With An Estimated Net Present Value (NPV) Of Approximately $300 Million Holding Company Cash And Liquid Assets Of $842 Million, Including $19 Million Restricted September 2021 Debt Redemption Of $513 Million Completed Subsequent To Quarter-End Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2021.

Genworth Financial Announces Second Quarter 2021 Results

Genworth Financial (NYSE:GNW) announces its next round of earnings this Tuesday, August 03. Here is Benzinga's everything-that-matters guide for this Tuesday's Q2 earnings announcement.

News for Genworth Financial Stock (GNW)