08/01/17
Net Income Of $202 Million, Up 17 Percent Compared To Prior Year; Adjusted Operating Income Of $151 Million, Up 23 Percent Compared To Prior Year
RICHMOND, Va., Aug. 1, 2017 /PRNewswire/ —
- Merger Agreement Deadline With China Oceanwide Holdings Group Co., Ltd. (Oceanwide) Extended To November 30, 2017
- Additional Progress Made On U.S. Life Restructuring Plan With The Remaining Internal Reinsurance Transactions Completed Effective July 1, 2017
- U.S. Mortgage Insurance (MI) Second Quarter 2017 Adjusted Operating Earnings1 Increased 49% Compared To The Second Quarter Of 2016, Which Includes A Favorable $10 Million Reserve Adjustment In The Current Quarter
- Strong Loss Ratio And Capital Levels In The Second Quarter For U.S. MI And Canada MI
- Net Income2 Included $51 Million Of Investment Gains, Net Of Taxes And Other Adjustments, Related To Fixed Income Tenders And Derivative Gains
- Holding Company Cash And Liquid Assets Of Approximately $860 Million
Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2017. The company reported net income of $202 million, or $0.40 per diluted share, in the second quarter of 2017, up 17 percent as compared with net income of $172 million, or $0.34 per diluted share, in the second quarter of 2016. The adjusted operating income for the second quarter of 2017 was $151 million, or $0.30 per diluted share, up 23 percent as compared with adjusted operating income of $123 million, or $0.25 per diluted share, in the second quarter of 2016.
Genworth Financial Announces Second Quarter 2017 Results
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