Welcome to our dedicated page for Genworth Finl news (Ticker: GNW), a resource for investors and traders seeking the latest updates and insights on Genworth Finl stock.
Genworth Financial Inc (NYSE: GNW) provides essential insurance solutions spanning mortgage protection, long-term care coverage, and retirement security products. This news hub offers investors and stakeholders centralized access to official announcements, financial disclosures, and strategic developments from this established industry leader.
Track critical updates across Genworth's core operations including Enact mortgage insurance performance, Life & Annuities product innovations, and Long-Term Care Insurance program enhancements. Our curated news collection simplifies monitoring regulatory filings, leadership changes, and market positioning moves within the U.S. insurance sector.
This resource serves as your primary source for unfiltered access to earnings reports, partnership announcements, and operational milestones. Bookmark this page for real-time insights into how Genworth addresses evolving challenges in housing finance and aging population needs through its insurance offerings.
Genworth Financial, Inc. (NYSE: GNW) has appointed Elaine Sarsynski as a new independent director on its Board of Directors. Sarsynski, who previously held leadership roles at MassMutual International, will stand for election at the company's 2022 Annual Meeting. Current board member Debra Perry plans to retire after her term ends in May 2022, not standing for re-election. Company CEO Tom McInerney expressed confidence that Sarsynski's extensive experience in the insurance sector will enhance the board's oversight and contribute to stockholder value.
Genworth Financial, Inc. (NYSE: GNW) announced that S&P Global Ratings has upgraded its issuer credit ratings to B+ from B, reflecting substantial improvements in leverage and liquidity. The company retired over $2 billion of debt in 2021, enhancing financial flexibility and enabling plans for further debt retirement. By reducing its debt to below $1 billion, Genworth aims to evaluate returning capital to shareholders. The outlook for the ratings remains positive, signaling potential growth opportunities.
Genworth Financial reported a fourth-quarter net income of $163 million and adjusted operating income of $164 million, down from $267 million and $188 million in Q4 2020. For 2021, net income surged to $904 million, compared to $178 million in 2020. The Enact segment showed strong performance with a 9% growth in primary insurance, while the U.S. Life Insurance segment achieved $41 million in adjusted operating income. Significant debt retirement totaling $2.1 billion was noted. The cash and liquid assets at year-end were $356 million.
Genworth Financial, Inc. (NYSE: GNW) will release its fourth quarter earnings after market close on February 1, 2022. A conference call to discuss these results is scheduled for February 2, 2022, at 9:00 a.m. (ET). Investors can access the earnings release and financial supplement via the company's website here. Additionally, Genworth's subsidiary, Enact Holdings, Inc. (NASDAQ: ACT), will hold its own conference call on February 2, at 8:00 a.m. (ET), to discuss its fourth quarter results.
Genworth Financial, Inc. (NYSE: GNW) has completed the redemption of all $308 million of its 4.900% Senior Notes due 2023, using approximately $334 million in cash. This amount covers the principal, a make-whole premium, and accrued interest up to the redemption date of December 15, 2021. Genworth Holdings, its wholly-owned subsidiary, executed this transaction. As a Fortune 500 provider, Genworth addresses financial challenges related to aging, while also being the parent company of Enact Holdings, Inc. (Nasdaq: ACT).
Genworth Financial, Inc. (GNW) announced a notice of redemption for its outstanding 4.900% Senior Notes due 2023, effective December 15, 2021. The redemption price will be 100% of the principal amount, along with a make-whole premium and any accrued interest. The redemption will be managed by The Bank of New York Mellon Trust Company. This strategic move is part of Genworth's financial management efforts. Genworth Holdings is a wholly-owned subsidiary of Genworth Financial, which also owns Enact Holdings, a leading mortgage insurance provider.
Genworth Financial reported its Q3 2021 results, highlighting a net income of $314 million, down 25% from Q3 2020. Adjusted operating income rose 91% to $239 million. The company successfully completed the IPO of Enact Holdings, generating $529 million in net proceeds. The U.S. life insurance segment saw improved adjusted operating income of $93 million, driven by long-term care insurance. Despite a drop in net income, rating upgrades were received from Moody's and S&P, improving Genworth's credit profile.
The Beyond Dollars Study 2021 by Genworth reveals a significant rise in the complexities and duration of caregiving amidst the pandemic. Major findings indicate that 49% of care recipients now need comprehensive assistance, up from 39% in 2018. The average duration of care has increased from 3 to 3.5 years. Additionally, 79% prefer at-home care, though challenges persist. Financial and emotional strains on caregivers are notable, with 56% of women and 45% of men reporting negative impacts on their work. Long-Term Care Insurance alleviates some financial burdens, with only 23% utilizing any insurance coverage.
Genworth Financial (NYSE: GNW) announced its third quarter earnings release will be issued on November 2, 2021, after market close. A conference call to discuss the results is scheduled for November 3, 2021, at 9:00 a.m. ET. Investors can access the earnings release and financial supplement on Genworth's website. Additionally, Enact Holdings (NASDAQ: ACT) will hold a conference call on the same day at 8:00 a.m. ET. For more information, visit the investor relations section of the Genworth website.
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