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Genworth 2Q24 Earning Summary Presentation
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Genworth Financial Announces Second Quarter 2024 Results
Genworth Financial Schedules Earnings Conference Call for August 1
2023 Sustainability Report
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Q3 2024 Genworth Earnings Conference Call
LatestFinancial Results
Q2 2024
Quarter Ended June 30, 2024
$138M
Continued progress on the long-term care insurance (LTC)1 multi-year rate action plan (MYRAP) with $138M of gross incremental premium approvals; $29.2B estimated net present value achieved from in-force rate actions (IFAs) since 2012
>40 States
CareScout continued to expand the CareScout Quality Network; now available in more than 40 states and covering greater than two-thirds of the aged 65-plus Census population in the United States
$36M
Executed $36M in share repurchases in the quarter; $111M executed year-to-date through July 31, 2024, at an average price of $6.19 per share
$12M
Repurchased $12M in principal of the company’s subordinated notes
$76M
Net income2 of $76M, or $0.17 per diluted share, and adjusted operating income2,3 of $125M, or $0.28 per diluted share
$165M
Enact reported adjusted operating income of $165M2 ; distributed $63M in capital returns to Genworth
319%
U.S. life insurance companies’ RBC4 ratio of 319%5 driven by strong statutory income
$281M
Genworth holding company cash and liquid assets of $281M6 at quarter-end
Source: Q2 2024 Earnings Press Release
For complete information regarding our financials, see our periodic filings.
* Non-GAAP financial measure. View full reconciliation in our Q4 earnings press release.
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 this 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 second quarter of 2024 due to timing of the preparation of the filing(s).
6. Includes approximately $95 million of advance cash payments from the company’s subsidiaries held for future obligations.
Latest Annual Filing
For Fiscal Year Ending Dec 31, 2023
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GenworthAt a Glance
2004
Completed IPO
$7.5B
Annual 2023 Revenue
$60B
Invested Assets at Year-end 2023
$41M
2023 Adjusted Operating Income
Fortune 500
Insurance Holding Company Listed on NYSE (GNW)
Richmond, VA
Headquarters Location
~2,700
Employees
As of Dec. 31, 2023 • 10-K 2023
For complete information regarding our financials, see our periodic filings.
Delivering Solid Financial Results
Adjusted Operating Income*
(In millions)
As of Dec. 31, 2023 • 10-K 2023
For complete information regarding our financials, see our periodic filings.
*Adjusted Operating Income is a Non-GAAP measure. View full reconciliation in our 2023 10-K.
Net Income
(In millions)
As of Dec. 31, 2023 • 10-K 2023
For complete information regarding our financials, see our periodic filings.
Caring for Our World, Our Neighbors, and Ourselves
Genworth services support elderly Americans and their caretakers and we extend that support through our sustainable business practices and ESG efforts.
Explore our ESG EffortsIR Contacts
Corporate Office
Genworth Financial, Inc.
11011 West Broad Street
Glen Allen, VA 23060
United States
T: 804-281-6000
Investor Relations
Brian Johnson
Head of Investor Relations
11011 West Broad Street
Glen Allen, VA 23060
United States
InvestorInfo@genworth.com
Transfer Agent
Computershare
P.O. BOX 43006
Providence, RI 02940
United States
T: 866-229-8413
http://www.computershare.com/investor