Investor Relations
Latest Financial Results
Nov 6, 2024 • 6:28 PM EST
Q3 2024 Quarterly Results
Quarter Ended Sep 30, 2024
$124M
Continued progress on the LTC1 multi-year rate action plan (MYRAP) with $124M of gross incremental premium approvals; approximately $30B estimated net present value achieved from in-force rate actions (IFAs) since 2012
49 States
Expanded the CareScout Quality Network to 49 states through October, covering over 75% of the aged 65-plus Census population in the United States; on track to achieve 80% to 85% coverage by year-end
$36M
Executed $36M in share repurchases in the quarter; $144M executed year-to-date through October at an average price of $6.29 per share
$17M
Repurchased $17M in principal of holding company debt at a discount
$85M
Net income2 of $85M, or $0.19 per diluted share, and adjusted operating income2,3 of $48M, or $0.11 per diluted share
$148M
Enact reported adjusted operating income of $148M2; distributed $81M in capital returns to Genworth
317%
U.S. life insurance companies' RBC4 ratio of 317%5 reflects strong year-to-date statutory pre-tax income
$369M
Genworth holding company cash and liquid assets of $369M6 at quarter-end
Source: Q3 2024 Earnings Press Release
For complete information regarding our financials, see our periodic filings.
1. Long-term care insurance.
2. All references reflect amounts available to Genworth’s common stockholders.
3. This is a financial measure that is not calculated based on U.S. Generally Accepted Accounting Principles (GAAP). See the Use of Non-GAAP Measures section of the press release for additional information.
4. Risk-based capital ratio based on company action level for Genworth Life Insurance Company (GLIC) consolidated.
5. Company estimate for the third quarter of 2024 due to timing of the preparation and filing of the statutory financial statement filing(s).
6. Includes approximately $162 million of advance cash payments from the company’s subsidiaries held for future obligations.