Genworth Financial Announces Second Quarter 2019 Results

Genworth Financial
7/30/19

Net Income Of $168 Million And Adjusted Operating Income Of $204 Million

RICHMOND, Va., July 30, 2019 /PRNewswire/ —

  • Merger Agreement With China Oceanwide Holdings Group Co., LTD (Oceanwide) Extended To No Later Than November 30, 2019; Actively Soliciting Interest In Genworth MI Canada
  • U.S. Mortgage Insurance (MI) Adjusted Operating Income Of $147 Million With $15.8 Billion In New Insurance Written (NIW) And Continued Strong Loss Performance
  • U.S. MI’s PMIERs1 Sufficiency Ratio At 123 Percent, In Excess Of $650 Million Above The Revised Standards That Became Effective On March 31, 2019
  • Continued Strong Capital Levels In Canada And Australia MI With $58 Million In Capital Returned To The Holding Company
  • Continued Progress With Long Term Care Insurance (LTC) In Force Rate Actions In Line With Plan
  • Holding Company Cash And Liquid Assets Of $403 Million

Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2019. The company reported net income2 of $168 million, or $0.33 per diluted share, in the second quarter of 2019, compared with net income of $190 million, or $0.38 per diluted share, in the second quarter of 2018. The company reported adjusted operating income3 of $204 million, or $0.40 per diluted share, in the second quarter of 2019, compared with adjusted operating income of $200 million, or $0.40 per diluted share, in the second quarter of 2018.
 

Genworth Financial Announces Second Quarter 2019 Results
 

#goldencareagent
#genworth