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Sep 30, 2020
Genworth Q3 2020 Earnings Report
Genworth delivered strong operating performance driven by U.S. mortgage insurance business.
Key Takeaways
Genworth Financial reported a strong operating performance in Q3 2020, driven by outstanding results in the U.S. mortgage insurance business. The company's net income was $418 million, or $0.82 per diluted share, and adjusted operating income was $132 million, or $0.26 per diluted share.
Net income of $418 million and adjusted operating income of $132 million.
Merger agreement with China Oceanwide Holdings Group Co., Ltd extended to November 30, 2020.
U.S. Mortgage Insurance segment adjusted operating income of $141 million primarily driven by lower levels of new delinquencies and IBNR favorability.
Holding Company Cash and Liquid Assets of $814 million.
Genworth
Genworth
Forward Guidance
Genworth is taking steps to enhance liquidity, position businesses to navigate uncertainty, and maximize shareholder value, while pursuing the closing of the Oceanwide transaction and executing strategic priorities.