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.
The press release contains forward-looking statements regarding the outlook for the company's future business and financial performance.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance