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Genworth Financial Inc (GNW)

GNW on New York Consolidated

3.59USD
25 May 2017
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Latest Key Developments (Source: Significant Developments)

Genworth Financial announces first quarter 2017 results
Tuesday, 2 May 2017 05:10pm EDT 

May 3 (Reuters) - Genworth Financial Inc ::Genworth Financial announces first quarter 2017 results.Q1 adjusted operating earnings per share $0.29.Q1 earnings per share $0.31.Q1 earnings per share view $0.23 -- Thomson Reuters I/B/E/S.Says net investment income was $790 million in quarter, up from $786 million in prior quarter and up from $789 million in prior year.Says qtrly revenue $2,171 million versus $1,785 million last year.Says U.S. mortgage insurance reported adjusted operating income of $73 million for Q1, compared with $61 million in both prior quarter and prior year.Says book value per share for three months ended March 31, 2017 was $25.68.Says Genworth and Oceanwide engaged with relevant regulators regarding pending applications and continue to target closing transaction in middle of 2017.  Full Article

Genworth and Oceanwide provide update on CFIUS application
Friday, 28 Apr 2017 04:15pm EDT 

April 28 (Reuters) - Genworth Financial Inc -:Genworth and Oceanwide provide update on CFIUS application.Genworth Financial - co, china oceanwide holdings group have withdrawn and re-filed their joint voluntary notice to cfius.Genworth and Oceanwide continue to target closing proposed merger between the cos in middle of 2017.Genworth Financial-withdrawn and re-filed notice to permit more time for review, discussion with cfius in connection with proposed merger between co,oceanwide.  Full Article

Genworth Financial says stockholders adopted deal with China Oceanwide Holdings Group
Tuesday, 7 Mar 2017 11:47am EST 

Genworth Financial Inc : Stockholders adopted previously announced merger agreement with China Oceanwide Holdings Group .About 96 percent of votes cast were voted in favor of merger agreement with China Oceanwide Holdings Group Co.  Full Article

Genworth Financial announces Q4 2016 results
Tuesday, 7 Feb 2017 05:07pm EST 

Genworth Financial Inc : Genworth Financial announces fourth quarter 2016 results . Q4 adjusted operating loss per share $0.27 . Q4 loss per share $0.25 . Q4 earnings per share view $0.20 -- Thomson Reuters I/B/E/S . Genworth Financial Inc says Genworth and China Oceanwide continue to expect transaction to close by mid-2017 . Genworth Financial Inc qtrly total revenues $2,198 million versus $2,156 million . Genworth Financial Inc - Book value per common share $25.37 at Q4 end versus $29.84 at Q3 end . Genworth Financial Inc - Net investment income was $786 million in quarter, down from $805 million in prior quarter . Q4 revenue view $2.13 billion -- Thomson Reuters I/B/E/S .Genworth Financial Inc - Qtrly U.S. mortgage insurance segment adjusted operating income $61 million versus $41 million a year ago.  Full Article

Genworth Financial says co and China Oceanwide continue to expect transaction to close by mid-2017
Wednesday, 25 Jan 2017 06:13am EST 

Genworth Financial Inc :Genworth Financial Inc - Genworth and China oceanwide continue to expect transaction to close by mid-2017.  Full Article

Genworth Financial announces third quarter 2016 results
Thursday, 3 Nov 2016 05:34pm EDT 

Genworth Financial Inc : Genworth - Recorded non-cash charge of $265 million, or $0.53 per diluted share in Q3, related to deferred tax assets not expected to be utilized before expiration . Genworth Financial Inc - Net investment income increased to $805 million in quarter, up from $779 million in prior quarter and up from $783 million in prior year . Genworth Financial Inc - Q3 total revenues $2,150 million versus $2,100 million . Q3 results include pre-tax resulting in a charge to earnings of $283 million after-tax, or $0.57 per diluted share . Q3 net loss and net operating loss included $548 million after-tax, or $1.10 per diluted share, of net unfavorable items . Q3 revenue view $2.15 billion -- Thomson Reuters I/B/E/S . Genworth Financial announces third quarter 2016 results . Q3 operating loss per share $0.81 . Q3 loss per share $0.76 .Q3 earnings per share view $0.22 -- Thomson Reuters I/B/E/S.  Full Article

Genworth Financial Q2 earnings per share $0.34
Tuesday, 2 Aug 2016 05:05pm EDT 

Genworth Financial Inc : Genworth financial announces second quarter 2016 results . Q2 earnings per share $0.34 . Genworth financial inc says net investment income decreased to $779 million in quarter, down from $789 million in prior quarter . Genworth financial inc says in q2 life insurance had net operating income of $31 million, compared with $31 million in prior quarter and $22 million in prior year . Q2 earnings per share view $0.21, revenue view $2.08 billion -- Thomson Reuters I/B/E/S . Q2 operating earnings per share $0.25 . "additional steps taken toward repatriation of bermuda subsidiary" . Genworth financial inc says in q2 u.s. Mi net operating income was $61 million, compared with $61 million in prior quarter and $49 million in prior year .Qtrly revenue total revenues $2.24 billion versus $2.16 billion.  Full Article

Genworth Announces Closing Of Lifestyle Protection Insurance Business Sale
Wednesday, 2 Dec 2015 02:45am EST 

Genworth Financial, Inc:closed the sale of its lifestyle protection insurance business to AXA.adjusted sale price was approximately $490 million1and net proceeds from the transaction, net of pension settlement costs, transaction related expenses and gains related to foreign exchange hedging are expected to be approximately $4151,2million.majority of the net proceeds are expected to be applied to the company's debt which becomes due in 2016.company will reflect any revisions to the loss on sale in the fourth quarter of 2015, based on the finalization of its post-closing adjustments.closing of this transaction is another important step toward simplifying the business portfolio and increasing the financial flexibility and strength of Genworth.Barclays and Sidley Austin LLP advised Genworth on this transaction.  Full Article

Genworth Financial Inc enters into agreement to sell European Mortgage Insurance Business to AmTrust Financial Services Inc
Tuesday, 27 Oct 2015 07:30am EDT 

Genworth Financial Inc:Says Genworth Mortgage Insurance Corporation, a wholly-owned indirect subsidiary of company, has entered into an agreement to sell its European mortgage insurance business to AmTrust Financial Services Inc. that is expected to result in net proceeds of about $55 million.Proceeds will provide additional capital credit to GMICO under the private mortgage insurer eligibility requirements.Transaction is expected to close in the first quarter of 2016.  Full Article

Genworth Financial Inc names Kelly L. Groh Chief Financial Officer
Thursday, 15 Oct 2015 05:10pm EDT 

Genworth Financial Inc:Announced that it has named Kelly L. Groh executive vice president and chief financial officer, effective immediately.Kelly L. Groh succeeds Martin P. Klein, who resigned, effective October 15, 2015.Kelly will remain with Genworth in an advisory role through Oct. 30, 2015.  Full Article

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