Genworth Financial Announces Second Quarter 2018 Results

Genworth Financial
07/31/18

Net Income Of $190 Million And Adjusted Operating Income Of $200 Million
RICHMOND, Va., July 31, 2018 /PRNewswire/ —

  • As Announced On June 9, 2018, The Committee On Foreign Investment In The United States (CFIUS) Completed Its Review Of The Proposed Transaction Between Genworth And China Oceanwide Holdings Group Co., Ltd (Oceanwide) And Concluded That There Are No Unresolved National Security Concerns
  • U.S. Mortgage Insurance (MI) Adjusted Operating Income Of $137 Million Which Included A Favorable $22 Million After-Tax Reserve Adjustment
  • U.S. MI’s PMIERs1 Sufficiency Ratio At 129 Percent, In Excess Of $700 Million Above Requirements Following A $50 Million Dividend
  • Strong Loss Ratio Performance And Capital Levels For Canada MI
  • U.S. Life Insurance Adjusted Operating Income Of $57 Million Compared To Adjusted Operating Income Of $39 Million In The Prior Year
  • Holding Company Cash And Liquid Assets Of $622 Million; Company Redeemed Its May 2018 Debt Of $597 Million

Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2018. The company reported net income2 of $190 million, or $0.38 per diluted share, in the second quarter of 2018, compared with net income of $202 million, or $0.40 per diluted share, in the second quarter of 2017. Adjusted operating income3 for the second quarter of 2018 was $200 million, or $0.40 per diluted share, compared with adjusted operating income of $151 million, or $0.30 per diluted share, in the second quarter of 2017.
 
Genworth Financial Announces Second Quarter 2018 Results
 
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