“Genworth Rethinks Long-Term Care Market Return”

“Genworth Rethinks Long-Term Care Market Return,” by Allison Bell, ThinkAdvisor

 

Quote:

“Genworth is reporting $149 million in net income for the first quarter on $1.9 billion in revenue. Earnings were strong enough that the company is preparing to spend up to $350 million on buying back shares of its stock. But McInerney acknowledged that past problems with LTCI product pricing will affect future LTCI efforts.”

 

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Genworth and LTCI profitability generally will surge upward soon as interest rates spike, supporting reserves, and destroying competition from Medicaid.