Housing Market Trends - The U.S. housing market saw a significant decline in mortgage originations in 2022 and 2023 due to rising interest rates, impacting new insurance written by Enact Holdings [234]. - Home price appreciation slowed temporarily in 2022 but regained an upward trend in 2023, with low supply of homes offsetting higher borrowing costs [238]. - Economic uncertainty persisted throughout 2023, with some economists predicting a recession in 2024, which could adversely affect home prices and increase default rates [236]. - A decline in high loan-to-value mortgage originations could significantly reduce demand for mortgage insurance, adversely affecting revenue [306]. - Changes in mortgage insurance cancellation requirements could reduce the amount of insurance in-force, adversely affecting financial results [309]. Regulatory and Compliance Risks - The company faces regulatory risks that could materially affect its business, including potential changes in accounting standards and insurance regulations [243]. - An adverse change in regulatory requirements could significantly impact the company's business and financial condition [259]. - The company is subject to various legal and regulatory investigations, which could result in financial losses and reputational harm [257]. - Compliance with PMIERs is critical; failure to meet these requirements could prevent the company from writing new insurance on loans acquired by the GSEs [269]. - Changes in federal and state regulations could significantly affect the mortgage insurance market and reduce demand for private mortgage insurance [278]. Financial Performance and Risks - Enact Holdings could experience a material adverse impact on results if the volume of new insurance written remains suppressed for an extended period [234]. - Rising unemployment rates and adverse economic conditions generally increase the likelihood of borrower defaults, impacting Enact Holdings' loss experience [235]. - The company has seen limited claims emerge from COVID-19-related forbearance programs, but uncertainty remains regarding the timing and severity of remaining delinquencies [241]. - Future increases in statutory reserves could negatively impact the RBC ratios of the company's U.S. life insurance subsidiaries [260]. - The availability and affordability of reinsurance are impacted by the company's financial performance and market conditions, which could increase risk and expenses [303]. Customer and Market Dependence - Enact Holdings' largest customer accounted for 19% of its total new insurance written and 10% of its total revenues in 2023 [288]. - The top five customers generated 33% of Enact Holdings' new insurance written in 2023 [288]. - Enact Holdings' reliance on key customers poses a risk of significant sales loss if relationships are terminated or reduced [288]. - The company faces intense competition for key employees, which could adversely impact its operations and financial condition [285]. Operational and Technological Challenges - The company is actively involved in credit risk transfer programs with Fannie Mae and Freddie Mac, which could influence its business operations [267]. - Enact Holdings relies on third-party vendors for efficient execution and may face risks if these vendors fail to meet obligations, potentially leading to financial and reputational damage [299]. - Inability to leverage new technology developments, such as artificial intelligence, could adversely affect future business success [322]. - Poor implementation of new technologies may lead to additional risks that cannot be adequately mitigated, impacting financial performance [322]. Emerging Risks - Emerging risks include natural disasters, geopolitical tensions, and public health emergencies, which could adversely affect financial conditions and operations [321]. - Geopolitical tensions, such as the Russia-Ukraine conflict, may increase costs and disrupt supply chains, particularly oil supply [321]. - Public health emergencies, similar to COVID-19, expose the company to significant operational risks and behavioral changes among policyholders [321].

Genworth Financial, Inc. (NYSE:GNW) Q4 2023 Earnings Conference Call February 22, 2024 9:00 AM ET Corporate Participants Brian Johnson - Senior Vice President, Financial Planning and Analysis Jerome Upton - Executive Vice President and Chief Financial Officer Tom McInerney - President and Chief Executive Officer Jamala Arland - Executive Vice President, U.S. Life Insurance Conference Call Participants Ryan Krueger - KBW Arthur Tetyevsky - Cantor Fitzgerald Operator Good morning, ladies and gentlemen. Welcom ...

Fourth Quarter 2023 Earnings Summary February 21, 2024 ...

RICHMOND, Va.--(BUSINESS WIRE)--CareScout today introduced the CareScout Quality Network, a first-of-its-kind group of long-term care providers who meet high standards for quality, person-centered care. “ The long-term care industry is ripe for innovation because health and social systems aren’t built to support the demand of our rapidly aging population. Older adults and their families are left to navigate a fragmented and confusing experience to find care,” said Samir Shah, CEO of CareScout Services. “ Q ...

Third Quarter 2023 Earnings Summary November 8, 2023 ...

Genworth Financial, Inc. (NYSE:GNW) Q3 2023 Earnings Conference Call November 8, 2023 9:00 AM ET Company Participants Jerome Upton - EVP, CFO & Principal Financial Officer Thomas McInerney - President, CEO & Director Conference Call Participants Operator Good morning, ladies and gentlemen, and welcome to Genworth's Financial Third Quarter 2023 Earnings Conference Call. My name is Lisa, and I will be your coordinator today. [Operator Instructions]. I would now like to turn the presentation over to Brian John ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32195 GENWORTH FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 80-0873306 (State or other jurisdiction ...

Financial Performance - Genworth reported a second-quarter net income of $137 million, or $0.29 per diluted share, and an adjusted operating income of $85 million, or $0.18 per diluted share[6] - Enact segment's adjusted operating income was $146 million[6, 15] - The U S life insurance companies' statutory pre-tax income was $63 million, driving a risk-based capital ratio of 293%[7] - Genworth holding company had cash and liquid assets of $222 million at the end of the quarter[7] Long-Term Care Insurance (LTC) - Continued progress on the LTC multi-year rate action plan, with $94 million of gross incremental premium approved in the second quarter[7, 43] - Approximately $24 4 billion net present value achieved from in-force rate actions (IFAs) since 2012[7, 28] - LTC adjusted operating loss was $(43) million[7, 16] - Cumulative policyholder responses to in-force rate actions since 2012 show that 47 5% of in-force policies have selected non-forfeiture or reduced benefit options[28, 45] Capital Allocation - Executed $112 million in share repurchases in the quarter, with $264 million in total executed through July 2023 at an average price of $5 11 per share[7] - Announced a $350 million expansion of the existing share repurchase program[7] - Enact paid a quarterly dividend of $0 16 per share in the current quarter[27] Enact Segment - Enact's PMIERs sufficiency ratio was 162%, which is $1 958 billion above requirements[6, 27] - Enact's portfolio was up 9% year-over-year to $258 billion, driven by new insurance written (NIW) and continued elevated persistency[22]

Genworth Financial, Inc (NYSE:GNW) Q2 2023 Earnings Conference Call August 9, 2023 9:00 AM ET Company Participants Sarah Crews - Investor Relations Tom McInerney - President and Chief Executive Officer Jerome Upton - Chief Financial Officer Conference Call Participants Joshua Esterov - CreditSights Operator Good morning, ladies and gentlemen and welcome to Genworth Financial’s Second Quarter 2023 Earnings Conference Call. My name is Karen and I will be your coordinator today. [Operator Instructions] I would ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32195 GENWORTH FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 80-0873306 (State or other jurisdiction of (I ...