Genworth Q1 2023 Earnings Report
Key Takeaways
Genworth Financial reported a net income of $62 million and an adjusted operating income of $84 million for Q1 2023. The company executed $68 million in share repurchases during the quarter and $182 million through April 2023. Enact's strong performance was a key driver, while LTC and Life and Annuities faced losses.
Net income reached $62 million, and adjusted operating income was $84 million.
Enact segment reported adjusted operating income of $143 million with a PMIERs sufficiency ratio of 164%.
Long-term care insurance's multi-year rate action plan achieved approximately $23.8 billion net present value from in-force rate actions since 2012.
The company executed $68 million in share repurchases during the quarter.
Genworth
Genworth
Forward Guidance
Genworth did not provide specific forward guidance in this earnings report.