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Genworth profit rises 24 pct due to strong U.S. mortgage business
February 4, 2014 / 10:22 PM / 4 years ago

Genworth profit rises 24 pct due to strong U.S. mortgage business

Feb 4 (Reuters) - Life and mortgage insurer Genworth Financial Inc reported a 24 percent rise in quarterly profit, helped by strong performance in its U.S. mortgage insurance business.

Net income available to common shareholders rose to $208 million, or 41 cents per share, for the fourth quarter ended Dec. 31, from $168 million, or 34 cents per share, a year earlier.

A recovering housing market helped the company’s U.S. mortgage insurance business to post a profit of $6 million, compared to a loss of $32 million a year earlier.

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