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Jun 30, 2022
Genworth Q2 2022 Earnings Report
Genworth reported a strong performance in Q2 2022, driven by Enact segment and solid long-term care insurance.
Key Takeaways
Genworth Financial reported a net income of $181 million and adjusted operating income of $176 million for the second quarter of 2022. The company's performance was driven by the Enact segment and solid long-term care insurance performance. Genworth also executed $30 million in share repurchases and received a two-notch credit rating upgrade from Moody's Investors Service.
Net income was $181 million and adjusted operating income was $176 million.
Enact segment adjusted operating income was $167 million, with nine percent annual growth in insurance in-force and strong loss performance.
U.S. Life Insurance segment adjusted operating income was $21 million, driven by solid long-term care insurance and fixed annuity performance.
The company executed $30 million in share repurchases through July 2022.
Genworth
Genworth
Forward Guidance
Genworth will continue to balance debt reduction, investments in growth and capital return to shareholders, while proactively managing our legacy LTC portfolio.