New Business, Delinquency Worse at Genworth M.I.

Genworth Financial Inc.’s mortgage insurance unit saw increased income despite higher delinquency and losses at its parent. New business fell, but the book of business expanded.

In its fourth-quarter 2017 report, Genworth disclosed a $290 million loss from continuing operations before income taxes during the three months ended Dec. 31.

Losses at the Richmond, Virginia-based firm widened from $56 million in the final three months of 2016 and swung from a $286 million profit three months earlier.


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From:: Financing

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