Financial Data and Key Metrics Changes - For the fourth quarter, the company reported a net loss of $1 million, while adjusted operating income was $15 million, primarily driven by strong performance from Enact, which contributed $137 million to adjusted operating income [11][12] - For the full year, net income was $299 million or $0.68 per share, with adjusted operating income of $273 million [12][26] - The company ended the fourth quarter with holding company cash and liquid assets of $294 million, including approximately $186 million in cash set aside for future obligations [13][38] Business Line Data and Key Metrics Changes - The Long Term Care (LTC) Insurance segment reported an adjusted operating loss of $104 million in the fourth quarter, driven by a liability remeasurement loss [23][26] - Enact delivered $137 million in adjusted operating income for the fourth quarter, reflecting a 6% year-over-year increase [27] - The Life and Annuities segment reported adjusted operating income of $5 million in the fourth quarter, including a net favorable impact from model and assumption updates [24] Market Data and Key Metrics Changes - Enact's primary insurance in force grew 2% year-over-year to a record $269 billion, supported by new insurance written and continued elevated persistency [27] - The company achieved $40 million in gross incremental premium approvals in the fourth quarter, with an average percentage increase of 23% [14] Company Strategy and Development Direction - The company is focused on three strategic priorities: creating shareholder value through its stake in Enact, maintaining self-sustainability in its legacy LTC business, and driving future growth with CareScout [13][21] - The CareScout quality network has expanded to nearly 500 home care providers, with a goal to cover 70 million aging individuals in the U.S. [10][17] - The company plans to invest $75 million in the new CareScout Insurance Company in 2025 to meet regulatory requirements [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress made in 2024 and the momentum building for future growth, particularly through CareScout and Enact [7][21] - The company anticipates that CareScout services will generate significant claim savings and revenue over time [16][18] Other Important Information - The company has reduced its wholly-owned company debt to $790 million, down from $4.2 billion at the beginning of 2013 [9] - The multi-year rate action plan (myRAP) has contributed a total of $31.2 billion in net present value to the legacy business since 2012 [8] Q&A Session Summary Question: Can you provide more details on CareScout services revenue expectations? - Management indicated that CareScout services already generate revenue from the assessment business and expects to grow revenues from matches between policyholders and the CareScout quality network [44][46] Question: What is the update on the timing of the UK court case? - The court case is scheduled for early March and could last about six weeks if it goes to trial without a settlement [51] Question: Will the $75 million capital contribution to the new CareScout insurance entity come from existing holding company resources? - Management confirmed that the funding for growth initiatives, including the capital contribution, is included in the base operating plan [52]