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Genworth earnings beat estimates; long-term care business falters
February 5, 2013 / 9:37 PM / 5 years ago

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.

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