Genworth Financial Inc

GNW

Equity

ISIN US37247D1063 / Valor 1778316

New York Stock Exchange, Inc (2024-12-24)

USD 7.09+1.58%

Genworth Financial Inc
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About company

Genworth Financial Inc is a leading provider of financial products, including life insurance, annuities, and mortgage insurance. The company's offerings are underwritten by various subsidiaries, such as Genworth Life and Annuity Insurance Company, Genworth Life Insurance Company, and Genworth Mortgage Insurance Corporation. Additionally, Genworth partners with the CareScout Quality Network to provide long-term care policyholders access to high-quality home care agencies at special pricing.

Summarized from source with an LLMView SourceSector: Finance

Net Income

Genworth Financial Inc. reported a net income of $76 million, or $0.17 per diluted share, for the second quarter of 2024. This reflects the company's continued efforts to maintain profitability amidst challenging market conditions.

Adjusted Operating Income

For the second quarter of 2024, Genworth Financial Inc. achieved an adjusted operating income of $125 million, or $0.28 per diluted share. This non-GAAP measure indicates the company's operational efficiency and financial health.

Share Repurchases

During the second quarter of 2024, Genworth Financial Inc. executed $36 million in share repurchases. Year-to-date through July 31, 2024, the company has repurchased $111 million worth of shares at an average price of $6.19 per share.

Capital Returns

Enact, a subsidiary of Genworth Financial Inc., reported an adjusted operating income of $165 million for the second quarter of 2024. Additionally, Enact distributed $63 million in capital returns to Genworth, contributing to the parent company's financial stability.

Holding Company Liquidity

As of the end of the second quarter of 2024, Genworth Financial Inc. held $281 million in cash and liquid assets at the holding company level. This includes approximately $95 million of advance cash payments from subsidiaries, ensuring liquidity for future obligations.

Summarized from source with an LLMView Source

Key figures

4.11%1Y

73.3%3Y

70.8%5Y

Performance

25.2%1Y

33.5%3Y

52.7%5Y

Volatility