Genworth Financial Q4 Earnings Call Highlights

CFO Jerome Upton said the closed block’s fourth-quarter adjusted operating loss was driven by LTC, which posted an adjusted operating loss of $159 million. Upton attributed the LTC result to a liability remeasurement loss related to actual experience versus expected (A/E) and the net unfavorable impact of assumption updates. He said unfavorable LTC A/E of $124 million pre-tax was “driven primarily by higher claims and lower terminations in the capped cohorts.”CEO Tom McInerney said fourth-quarter results we ...