February 6, 2018 / 10:42 PM / in 10 months

Australia's Genworth posts 18 pct fall in FY net earned premium

Feb 7 (Reuters) - Genworth Mortgage Insurance Australia said on Wednesday its full-year net earned premium fell by 18 percent, in line with its guidance, due to changes in its premium earning pattern review.

Australia’s biggest mortgage insurer had earlier said its modified premium earning pattern reflected an expectation of risks principally from factors including losses from mining related regions.

Full-year statutory net profit after tax was A$149.2 million ($117.90 million), down from A$203.1 million a year ago. ($1 = 1.2655 Australian dollars) (Reporting by Sandhya Sampath in Bengaluru, editing by G Crosse)

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