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g***t
发帖数: 1279 | 1 Genworth Swings To Profit On Smaller Investment Losses
21 minutes ago - Dow Jones News
Related Companies
Symbol Last %Chg
GNW 13.63 1.94%
As of 4:00 PM ET 1/28/10
DOW JONES NEWSWIRES
Genworth Financial Inc. (GNW) swung to a fourth-quarter profit--its second
in a row--as the insurer trimmed investment losses and got a lift from loss-
mitigation efforts in its mortgage-insurance business.
The life insurer, which also owns a large mortgage-insurance business, has
been back in the black the last two quarters as the losses in its mortgage-
insurance business moderate and pricing improves. Faced with more than $2
billion in investment losses over the past couple of years, the company has
been cutting costs and shoring up its balance sheet.
"Genworth's results in the quarter demonstrate sound overall earnings
improvement and execution of our strategy," said Michael D. Fraizer,
chairman and chief executive. "Active loss mitigation, numerous repricing
actions and cash reinvestment all contributed to earnings improvement."
For the latest quarter, Genworth reported a profit of $40 million, or 8
cents a share, compared with a year-earlier loss of $321 million, or 74
cents a share. Operating earnings, which excludes investment gains and
losses, were 19 cents a share, compared with a loss of 48 cents a year
earlier.
Analysts were looking for operating earnings of 10 cents, according to a
poll by Thomson Reuters.
Revenue decreased 6.4% to $2.46 billion.
Premiums fell 5.8%, while net investment losses narrowed to $96 million from
$149 million.
The U.S. mortgage insurance business's loss narrowed to $74 million from $
114 million, as such efforts as workouts, presales and policy rescissions
saved $290 million during the quarter. Mortgage-insurance policies cover
losses when borrowers default and lenders are unable to recover their losses.
Book value dropped 1% from the end of the third quarter.
Genworth shares were down 1% at $13.50 in after-hours trading. The stock has
nearly quintupled over the past year. | g***t
发帖数: 1279 | 2 会不会对CNO有很大影响？有一些CNO在手里呢。攥出汗来了。 | w****o
发帖数: 2210 | 3 不怕，CNO的insider去年11，12月在4.78左右有巨大的买单，你看这几天基本跌倒4.8
附近就弹起来了。除非大盘还要大跳水，要不然应该问题不大。
【在 g***t 的大作中提到】
: 会不会对CNO有很大影响？有一些CNO在手里呢。攥出汗来了。
| g***t
发帖数: 1279 | 4 谢谢。CNO 4Q的预期会好吗？好的话应该会长吧，这家
8
【在 w****o 的大作中提到】
: 不怕，CNO的insider去年11，12月在4.78左右有巨大的买单，你看这几天基本跌倒4.8
: 附近就弹起来了。除非大盘还要大跳水，要不然应该问题不大。
| w****o
发帖数: 2210 | 5 不知道，反正我这两天进了一点屯着看看
【在 g***t 的大作中提到】
: 谢谢。CNO 4Q的预期会好吗？好的话应该会长吧，这家
:
: 8
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