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Genworth profit soars as U.S. mortgage insurance loss narrows
October 29, 2013 / 8:48 PM / 4 years ago

Genworth profit soars as U.S. mortgage insurance loss narrows

(Reuters) - Life and mortgage insurer Genworth Financial Inc’s (GNW.N) third-quarter profit rose three-folds as losses narrowed in its U.S. mortgage insurance business.

Net profit rose to $108 million, or 22 cents per share, for the third quarter ended September 30, from $35 million, or 7 cents per share, a year earlier.

Loss in the company’s U.S. mortgage insurance business narrowed to $3 million from $37 million.

Reporting by Avik Das in Bangalore; Editing by Don Sebastian

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