News & Videos - GENWORTH FINANCIAL INC

Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2023. “Enact continues to perform well and has increased its planned capital return to Genworth and other shareholders. Based on strong free cash flow, the Genworth Board increased the share repurchase authorization by $350 million. ” – Tom McInerney, President & CEO Consolidated Metrics Q2 2023 Q1 2023 Q2 2022 (Amounts in millions, except per share data) Net income 5 $ 137 $ 122 $ 159 Earnings per...

Genworth Financial, Inc. (NYSE: GNW) today announced that it will postpone the release of its financial results for the period ending June 30, 2023 and earnings conference call, previously scheduled for August 1, 2023 and August 2, 2023, respectively. Genworth now expects to issue its second quarter earnings release after the market closes on August 8, 2023, and hold its conference call on August 9, 2023 at 9:00 a.m. (ET). Genworth requires additional time to complete its GAAP accounting for...

Genworth Financial, Inc. (NYSE: GNW) today announced that its Board of Directors authorized the company to repurchase an additional $350 million of shares of its Class A common stock under its existing share repurchase program. As of July 31, 2023, approximately 52 million shares of Class A common stock had been acquired at an aggregate purchase price of approximately $264 million since the inception of the company’s share repurchase program in May 2022. After increasing the authorization, and...

Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing second quarter results after the market closes on August 1, 2023. A conference call will be held on August 2, 2023 at 9:00 a.m. (ET) to discuss the quarter’s results. Genworth’s earnings release, summary presentation and financial supplement will be available through the company's website, http://investor.genworth.com , at the time of their release to the public. Genworth’s conference call...

Genworth Financial, Inc. (NYSE: GNW) announced the election of all nine director nominees at its 2023 annual meeting of stockholders today. The board members re-elected were G. Kent Conrad, Karen E. Dyson, Jill R. Goodman, Melina E. Higgins, Thomas J. McInerney, Howard D. Mills III, Robert P. Restrepo Jr., Elaine A. Sarsynski, and Ramsey D. Smith. At the annual meeting, stockholders also approved the advisory vote on named executive officer compensation and approved future advisory votes on...

Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended March 31, 2023. “I am pleased with our performance as we continue to execute our strategy. Genworth’s recent achievements enable us to further refine our priorities to maximize long-term shareholder value by allocating capital from Enact, launching our CareScout services business, and stabilizing LTC through our multi-year rate action plan. As we continue to execute on our priorities, we will be well-positioned...

Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing first quarter results after the market closes on May 3, 2023. A conference call will be held on May 4, 2023 at 9:00 a.m. (ET) to discuss the quarter’s results. Genworth’s earnings release, summary presentation and financial supplement will be available through the company's website, http://investor.genworth.com , at the time of their release to the public. Genworth’s conference call will be...

Genworth Financial, Inc. (NYSE: GNW) today announced the second ratings upgrade since its fourth quarter earnings results as Moody's Investors Service (Moody's) upgraded the Genworth Holdings, Inc. backed senior unsecured debt rating to Ba1 from Ba2, signifying a one-notch upgrade. The outlook for the rating remains stable. “We are pleased with this upgrade from Moody’s, as it further underscores our progress in improving Genworth’s financial position,” said Tom McInerney, Genworth...

Genworth Financial, Inc. (NYSE: GNW) today announced that S&P Global Ratings (S&P) has upgraded the Genworth Financial, Inc. and Genworth Holdings, Inc. issuer credit ratings from B+ to BB-. The outlook for the ratings is stable. “The upgrade from S&P reflects significant progress against our strategic priorities that resulted in a strong liquidity profile and healthy balance sheet,” said Tom McInerney, Genworth President and CEO. “This enhanced financial flexibility enables us to invest...

Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended December 31, 2022. The company reported net income 2 of $175 million, or $0.35 per diluted share, in the fourth quarter of 2022, compared with net income of $163 million, or $0.32 per diluted share, in the fourth quarter of 2021. The company reported adjusted operating income 3 of $167 million, or $0.33 per diluted share, in the fourth quarter of 2022, compared with adjusted operating income of $164 million, or...

Genworth Financial, Inc. (NYSE: GNW) today announced an update to its senior leadership structure whereby it will separate the roles of Chief Financial Officer (CFO) and Chief Investment Officer (CIO) in early March. At that time, Dan Sheehan will transition out of his current combined role of Executive Vice President, CFO and CIO. Jerome Upton will be appointed Executive Vice President and CFO, and Kelly Saltzgaber will be appointed Executive Vice President and CIO. Sheehan will remain in his...

Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing fourth quarter results after the market closes on February 6, 2023. A conference call will be held on February 7, 2023 at 9:00 a.m. (ET) to discuss the quarter’s results. Genworth’s earnings release and financial supplement will be available through the company's website, http://investor.genworth.com , at the time of their release to the public. Genworth’s conference call will be accessible...

AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “b+” (Marginal) from “b” (Marginal) and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) of Genworth Life Insurance Company (GLIC) (Wilmington, DE) and Genworth Life Insurance Company of New York (GLICNY) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. Additionally, AM Best has upgraded the Long-Term ICRs to “b+” (Marginal) from “b” (Marginal) of Genworth Financial,...

Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended September 30, 2022. The company reported net income 2 of $104 million, or $0.20 per diluted share, in the third quarter of 2022, compared with net income of $314 million, or $0.61 per diluted share, in the third quarter of 2021. The company reported adjusted operating income 3 of $159 million, or $0.31 per diluted share, in the third quarter of 2022, compared with adjusted operating income of $239 million, or $0.46...

Genworth Financial, Inc. (NYSE: GNW) today announced it would issue its earnings release containing third quarter results after the market closes on November 1, 2022. A conference call will be held on November 2, 2022 at 9:00 a.m. (ET) to discuss the quarter’s results. Genworth’s earnings release, summary presentation and financial supplement will be available through the company's website, http://investor.genworth.com , at the time of their release to the public. Genworth’s conference...

Genworth Financial, Inc. (NYSE: GNW) is mourning the death of its former board member, William H. Bolinder, who passed away on September 29, 2022, after a long illness. He served as a member of Genworth’s Board of Directors from 2010 to 2019, including as Chair of the Nominating and Corporate Governance Committee from 2013 to 2019. "We are deeply saddened to hear of Bill’s passing," said Melina Higgins, Genworth non-executive Chair of the Board of Directors. "Beyond the tremendous financial...

Genworth Financial, Inc. (NYSE: GNW) announced today that Genworth Holdings, Inc., its direct wholly-owned subsidiary, has completed the redemption of all $152 million aggregate principal amount of its outstanding 4.800% Senior Notes due 2024 (the “Notes”). Cash used for the redemption was approximately $155 million, which included the aggregate principal amount of the Notes being redeemed, plus a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date of...

Genworth Financial, Inc. (NYSE: GNW) announced today that Genworth Holdings, Inc., its direct wholly-owned subsidiary, has issued a notice of redemption for all of its outstanding 4.800% Senior Notes (the “Notes”) due 2024. The redemption date of the Notes will be September 21, 2022, and the redemption price of the Notes will be 100% of the principal amount plus a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date. The Paying Agent for the redemption of...

Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2022. The company reported net income 1 of $181 million, or $0.35 per diluted share, in the second quarter of 2022, compared with net income of $240 million, or $0.47 per diluted share, in the second quarter of 2021. The company reported adjusted operating income 2 of $176 million, or $0.34 per diluted share, in the second quarter of 2022, compared with adjusted operating income of $194 million, or $0.38...

Genworth Financial, Inc. (NYSE: GNW) today announced that Moody's Investors Service (Moody's) has upgraded the senior unsecured debt rating of Genworth Holdings, Inc. from B1 to Ba2, signifying a two-notch upgrade. The outlook for the rating is stable. “This upgrade from Moody’s, which is the fourth upgrade we have received from rating agencies since September 2021, reflects the tremendous progress we have made in improving our financial profile,” said Daniel Sheehan, Genworth’s Chief...