Genworth Q3 2024 Earnings Report
Key Takeaways
Genworth Financial reported a net income of $85 million and adjusted operating income of $48 million for the third quarter of 2024. The company continued to advance its strategic priorities, including progress on its LTC multi-year rate action plan and expansion of the CareScout Quality Network. Enact's strong performance contributed to the results, with $148 million in adjusted operating income and $81 million in capital returns to Genworth. The company also executed $36 million in share repurchases during the quarter.
Achieved $124M in gross incremental premium approvals for the LTC multi-year rate action plan.
Expanded the CareScout Quality Network to 49 states, covering over 75% of the aged 65-plus Census population.
Executed $36M in share repurchases during the quarter.
Enact reported adjusted operating income of $148M and distributed $81M in capital returns to Genworth.
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Forward Guidance
The press release contains forward-looking statements regarding the outlook for the company's future business and financial performance.