Genworth Financial Inc. announces acquisition by China Oceanwide
24 October 2016 - Genworth
Genworth Mortgage Insurance Australia Limited (Genworth Australia) (ASX: GMA) has been advised that Genworth Financial, Inc. and China Oceanwide Holdings Group Co., Ltd. have entered into a definitive agreement under which China Oceanwide has agreed to acquire all of the outstanding shares of Genworth Financial, Inc. for a total transaction value of approximately US$2.7 billion, or US$5.43 per share in cash, subject to approval by Genworth Financial, Inc.’s stockholders as well as other closing conditions, including the receipt of required regulatory approvals.
Upon completion of the transaction, Genworth Financial, Inc. will be a standalone subsidiary of China Oceanwide. Genworth Australia understands that Genworth Financial, Inc. intends to maintain its existing portfolio of businesses, including Genworth Australia.
Genworth announces first half earnings
03 August 2016 - Genworth
Genworth Mortgage Insurance Australia Limited (ASX: GMA) reported statutory1 net profit after tax (NPAT) of $135.8 million and underlying2 NPAT of $112.9 million for the half year ended 30 June 2016.
The Genworth Board declared a fully franked interim ordinary dividend of 14.0 cents per share and a fully franked special dividend of 12.5 cents per share, both payable on 31 August 2016 to shareholders registered on 17 August 2016. The ordinary dividend represents a payout ratio of 63.2 per cent, up from 61.2 per cent in 1H15.
Genworth first quarter 2016 earnings
29 April 2016 - Genworth
Genworth Mortgage Insurance Australia Limited (Genworth or the Company) (ASX: GMA) reported statutory net profit after tax (NPAT) of $67.3 million and underlying NPAT of $61.8 million for the quarter ended 31 March 2016.
Ms Georgette Nicholas, Chief Executive Officer of Genworth, said, “Our first quarter results are largely in line with our expectations. We continue to see pressure on Gross Written Premium (GWP) levels due to changes in the mortgage market, specifically, a noticeable decline in the proportion of high loan-to-value ratio (LVR) loans originated and changes in lender risk appetite. 1Q16 results reflect continued good underwriting performance with a loss ratio of 27 per cent in line with our guidance and our overall levels of profitability remained strong.
National homebuyer confidence remains strong; dips for first time since March 2014
31 March 2016 - Genworth
Now in its sixth year, Streets Ahead tracks the Genworth Homebuyer Confidence Index (HCI), a measure of consumer sentiment towards the housing and mortgage market.
The Genworth HCI remains near record levels, despite easing over the past six months. The decrease in the was mainly driven by an 11 per cent increase in the proportion of homeowners who have experienced mortgage stress, a 13 per cent increase in the proportion of homeowners who expect mortgage stress and a 13 per cent decrease in the proportion of respondents who believe now is a good time to buy a home.
Genworth launches second edition of It's My Home
29 February 2016 - Genworth
Today Genworth launched its second edition of It’s My Home magazine following overwhelming demand from mortgage brokers for the 2015 edition. The magazine, targeting first homebuyers, provides a handy guide for those navigating the homebuying process for the first time and is available exclusively through Genworth’s broker partners.
Genworth Australia Full Year 2015 Earnings
05 February 2016 - Genworth
Genworth Mortgage Insurance Australia Limited (GMA) reported statutory net profit after tax (NPAT) of $228.0 million for the full year ended 31 December 2015, a 29.7 per cent decrease on the previous corresponding period (pcp). Underlying NPAT for the year of $264.7 million declined 5.3 per cent on the pcp.