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Genworth Financial, Inc. - GNW STOCK NEWS

Welcome to our dedicated page for Genworth Financial news (Ticker: GNW), a resource for investors and traders seeking the latest updates and insights on Genworth Financial stock.

Genworth Financial, Inc. (symbol: GNW) is a prominent insurance holding company headquartered in Richmond, Virginia, with a rich history dating back to 1871. The company is committed to helping families achieve the dream of home ownership and manage the financial challenges that come with aging.

Genworth's core business operations are divided into three main segments: Enact, Life and Annuities, and Long-Term Care Insurance. These segments offer a diverse portfolio of products, including traditional life insurance, mortgage insurance, fixed annuities, and variable annuities. The Long-Term Care Insurance segment is the largest revenue generator for the company, highlighting its importance in Genworth's overall financial health.

Genworth’s products and services are distributed through various channels such as financial intermediaries, advisors, independent distributors, and sales specialists. This multi-channel approach ensures that a wide range of clients, from individuals to families, have access to the company's offerings.

In recent years, Genworth has focused on strengthening its market position through strategic partnerships and innovative products. The company continues to adapt to the evolving financial landscape, addressing the growing needs for mortgage insurance and effective long-term care solutions.

Genworth’s commitment to excellence is evident in its comprehensive approach to financial security, providing peace of mind to its customers. By maintaining a robust product portfolio and leveraging its historical expertise, Genworth remains a significant player in the insurance industry.

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Genworth Financial, Inc. (NYSE: GNW) will release its Q4 earnings on February 21, 2024, followed by a conference call on February 22, 2024, to discuss the results. Enact Holdings, Inc. (Nasdaq: ACT), Genworth's subsidiary, will also hold a conference call on February 7, 2024, to discuss its Q4 results.
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Genworth Financial, Inc. (NYSE: GNW) reported a net income of $29 million and adjusted operating income of $42 million for the third quarter of 2023. Enact segment adjusted operating income reached $134 million, with a PMIERs1 sufficiency ratio of 162%2. The company experienced volatility in its LTC results but made progress on its multi-year rate action plan. Genworth also executed $80 million in share repurchases in the quarter and successfully completed a consent solicitation for 2034 Senior Notes, providing greater financial flexibility.
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Genworth Financial announces completion of consent solicitation from bondholders and amendment to Replacement Capital Covenant
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Genworth Financial, Inc. to release Q3 results on November 8, 2023, with a conference call on November 9, 2023.
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Genworth Financial, Inc. (NYSE: GNW) has announced a postponement of its financial results for the period ending June 30, 2023, and earnings conference call. The release will now be on August 8, 2023, and the conference call will be on August 9, 2023. The delay is due to the need for additional time to complete GAAP accounting for long-term care insurance legal settlements under the new standard for long duration targeted improvements (LDTI). The accounting will only impact Genworth's LTC segment and will not affect Enact's results. The settlements are expected to have a net favorable economic impact to Genworth. The company's Board and management team remain confident in the company's strategy and future.
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Genworth Financial has authorized the repurchase of an additional $350 million of its Class A common stock, bringing the total available for purchase under the program to approximately $436 million. The company has already acquired 52 million shares at a purchase price of $264 million since May 2022.
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Genworth Financial, Inc. (NYSE: GNW) will release its second quarter results on August 1, 2023, followed by a conference call on August 2, 2023. Enact Holdings, Inc. (Nasdaq: ACT), Genworth's subsidiary, will also hold a conference call on August 2, 2023 to discuss its second quarter results.
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Genworth Financial reports Q1 2023 results with net income of $62 million and adjusted operating income of $84 million. Enact segment sees adjusted operating income of $143 million. Continued progress on long-term care insurance (LTC) multi-year rate action plan. U.S. life insurance companies' statutory pre-tax income of $192 million driving RBC ratio of 295%. Genworth executes $68 million in share repurchases in the quarter.
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FAQ

What is the current stock price of Genworth Financial (GNW)?

The current stock price of Genworth Financial (GNW) is $7.35 as of November 15, 2024.

What is the market cap of Genworth Financial (GNW)?

The market cap of Genworth Financial (GNW) is approximately 3.2B.

What does Genworth Financial, Inc. do?

Genworth Financial, Inc. is an insurance holding company that offers mortgage insurance, life insurance, fixed annuities, and long-term care insurance products.

Where is Genworth Financial, Inc. headquartered?

Genworth Financial, Inc. is headquartered in Richmond, Virginia.

What are the main business segments of Genworth Financial?

The main business segments of Genworth Financial are Enact, Life and Annuities, and Long-Term Care Insurance.

What is the largest revenue-generating segment for Genworth Financial?

The Long-Term Care Insurance segment generates the most revenue for Genworth Financial.

How does Genworth distribute its products and services?

Genworth distributes its products and services through financial intermediaries, advisors, independent distributors, and sales specialists.

What is the focus of Genworth’s recent business strategies?

Genworth’s recent business strategies focus on strengthening market position through strategic partnerships and innovative products.

When was Genworth Financial founded?

Genworth Financial traces its roots back to 1871.

What types of insurance does Genworth Financial offer?

Genworth Financial offers mortgage insurance, traditional life insurance, fixed annuities, and variable annuities.

Who are the typical customers of Genworth Financial?

Genworth Financial’s typical customers include individuals and families seeking financial security and solutions for home ownership and long-term care.

Why is Genworth Financial significant in the insurance industry?

Genworth Financial is significant in the insurance industry due to its comprehensive product offerings and historical expertise, providing valuable financial solutions to a wide range of customers.

Genworth Financial, Inc.

NYSE:GNW

GNW Rankings

GNW Stock Data

3.18B
437.72M
1.89%
86.94%
1.55%
Insurance - Life
Life Insurance
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United States of America
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