Genworth earnings beat estimates; long-term care business falters
Feb 5 (Reuters) - Genworth Financial Inc's fourth-quarter earnings beat analysts' expectations but the insurer posted weak earnings in its long-term care business.
Net income available to common shareholders rose to $166 million, or 34 cents per diluted share, for the quarter ended Dec. 31, from $142 million, or 29 cents per diluted share, a year ago.
Net operating income in the long-term care insurance business fell 75 percent to $7 million.
"Results in the U.S. Life Insurance Division were mixed, and I am disappointed in our long-term care results," Chief Executive Tom McInerney said in a statement.