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. reports developments across an insurance holding company built around Enact, its publicly traded mortgage insurance subsidiary, and a Closed Block of long-term care insurance, life insurance and annuity products. Recurring updates cover quarterly results, investment gains and losses, reserve impacts, capital returns from Enact, share repurchases and the management of legacy insurance obligations.
Company news also follows CareScout, Genworth’s wholly owned platform for aging and long-term care navigation. CareScout updates include its Quality Network of home care providers, personalized Care Plans, long-term care insurance offerings and the completed Seniorly acquisition, which added senior living community resources and advisor-network capabilities.
Genworth and CareScout's 2024 Cost of Care Survey reveals that long-term care costs in Maryland have increased year-over-year, surpassing national averages. The survey indicates a continued upward trend in long-term care expenses across various care types nationwide, with most increases outpacing inflation rates.
The primary factors driving these cost increases are inflation and labor costs. The survey data and resources are now available on CareScout.com/cost-of-care, featuring interactive tools to calculate median long-term care costs by area, state-level data comparisons, and access to CareScout's Quality Network of care providers.
The platform also offers comprehensive resources including aging care planning guides, information on funding long-term care services, and insights on person-centered care approaches.
Genworth and CareScout's 2024 Cost of Care Survey reveals that long-term care costs in Idaho showed mixed trends year-over-year, with increases in some care settings and decreases in others, while remaining comparable to national averages.
The national data indicates an upward trend in long-term care costs across various care types, with increases exceeding inflation rates. The primary factors driving these cost increases are inflation and labor costs.
The survey results are now accessible at CareScout.com/cost-of-care, featuring interactive tools for calculating median care costs, state-by-state comparisons, and resources for long-term care planning. The platform also includes access to the CareScout Quality Network of vetted care providers and comprehensive guides for aging care planning.
Genworth and CareScout have released their 2024 Cost of Care Survey for Virginia, revealing that long-term care service costs in the state remain comparable to national averages, with mixed year-over-year changes across different care settings.
The national data indicates a continued upward trend in long-term care costs, with increases exceeding inflation rates. The primary factors driving these cost increases are identified as inflation and labor costs.
The survey results are now accessible at CareScout.com/cost-of-care, featuring interactive tools for calculating median care costs, state-by-state comparisons, and resources for long-term care planning. The platform also introduces the CareScout Quality Network, a curated selection of long-term care providers meeting high-quality standards for person-centered care.
Genworth and CareScout's 2024 Cost of Care Survey reveals significant increases across all long-term care services. Homemaker services and assisted living communities saw the highest growth at 10%, with annual median costs reaching $75,504 and $70,800 respectively.
Key findings include:
- Home health aide costs rose 3% to $77,792 annually
- Adult day care increased 5% to $26,000 per year
- Nursing home costs grew: semi-private rooms up 7% to $111,325, private rooms up 9% to $127,750
- Assisted living occupancy rates increased from 77% to 84%
The survey identified inflation as the primary cost driver for assisted living, nursing homes, and adult day care centers, while labor costs primarily affected home care services. Notably, two-thirds of home care agencies now charge the same rate for both health aide and homemaker services.
Genworth Financial (NYSE: GNW) reported Q4 2024 results with a net loss of $1M and adjusted operating income of $15M. The company achieved full-year 2024 net income of $299M ($0.68 per diluted share) and adjusted operating income of $273M ($0.623 per diluted share).
Key highlights include: Enact's strong performance with $137M in adjusted operating income for Q4; expansion of CareScout Quality Network to all 50 states; $40M in gross incremental premium approvals for long-term care; and $51M in share repurchases at $7.32 per share during Q4.
The company's U.S. life insurance companies maintained a strong RBC ratio of 306%, reflecting statutory pre-tax income of $378M in 2024. Holding company cash and liquid assets stood at $294M at quarter-end. Through February 14th, GNW has executed $565M in total share repurchases at an average price of $5.69 per share.
Genworth Financial (NYSE: GNW) has scheduled its fourth quarter 2024 earnings release for February 18, 2025, after market close, followed by a conference call on February 19, 2025, at 9:00 a.m. ET. The earnings release, summary presentation, and financial supplement will be available on the company's investor website.
Investors can access the conference call via telephone (888-208-1820 or 323-794-2110 for international calls) using conference ID #5461958, or through webcast registration at the investor website. Additionally, Enact Holdings, Genworth's publicly traded subsidiary, will hold its Q4 earnings call on February 5, 2025, at 8:00 a.m. ET.
Genworth Financial (NYSE: GNW) reported Q3 2024 net income of $85M ($0.19 per diluted share) and adjusted operating income of $48M ($0.11 per diluted share). Key highlights include $124M in gross incremental premium approvals for long-term care, expansion of CareScout Quality Network to 49 states, and $36M in share repurchases. Enact reported strong performance with adjusted operating income of $148M and distributed $81M in capital returns to Genworth. The company's holding company cash and liquid assets stood at $369M, while the U.S. life insurance companies maintained an RBC ratio of 317%.
Genworth Financial (NYSE: GNW) has announced its schedule for releasing third quarter results and hosting an earnings conference call. The company will release its earnings report after market close on November 6, 2024, followed by a conference call on November 7, 2024, at 9:00 a.m. (ET) to discuss the results. Investors can access the earnings release, summary presentation, and financial supplement through Genworth's investor website.
The conference call will be accessible via telephone and internet. The dial-in number is 888-208-1820 or 323-794-2110 (outside the U.S.) with conference ID #1689846. Participants can also join the webcast by registering at the investor website. Additionally, Genworth's publicly traded subsidiary, Enact Holdings, Inc. (Nasdaq: ACT), will hold its own conference call on November 7, 2024, at 8:00 a.m. (ET) to discuss its third-quarter results.
Genworth Financial (NYSE: GNW) reported solid Q2 2024 results with net income of $76M ($0.17 per diluted share) and adjusted operating income of $125M ($0.28 per diluted share). Key highlights include:
- $138M in gross incremental premium approvals for long-term care insurance
- $36M in share repurchases executed in Q2; $111M year-to-date
- Enact reported adjusted operating income of $165M
- U.S. life insurance companies' RBC ratio improved to 319%
- Holding company cash and liquid assets at $281M
The company continues to focus on returning capital to shareholders while investing in growth initiatives like the CareScout Quality Network, now available in over 40 states.
Genworth Financial (NYSE: GNW) has announced its second quarter earnings release and conference call schedule. The company will release its Q2 results after market close on July 31, 2024, followed by a conference call on August 1, 2024, at 10:00 a.m. ET. Investors can access the call via phone (888-208-1820 or 323-794-2110; conference ID # 1968462) or webcast (register at http://investor.genworth.com).
Additionally, Genworth's subsidiary Enact Holdings (Nasdaq: ACT) will hold its Q2 earnings call on August 1, 2024, at 8:00 a.m. ET. Participants must pre-register for Enact's Q&A session to obtain dial-in information. Both companies recommend joining their respective calls 15 minutes early.