Investor Relations
Latest Financial Results
Feb 18, 2025 • 4:15 PM EST
FY 2024 Year End Results
Fiscal Year Ended Dec 31, 2024
50 states
Expanded the CareScout Quality Network to all 50 states, covering over 86% of the aged 65-plus census population in the United States
$40M
Continued progress on the LTC1 multi-year rate action plan with $40M of gross incremental premium approvals; approximately $31.2B2 estimated net present value achieved from in-force rate actions (IFAs)
$51M
Executed $51M in share repurchases in the quarter; $186M executed in 2024 at an average price of $6.52 per share
$565M
Executed $565M in share repurchases program-to-date through February 14th at an average price of $5.69 per share
$31M
Repurchased $31M in principal of holding company debt at a discount during the quarter
$299M
Net income3 of $299M, or $0.68 per diluted share, and adjusted operating income3,4 of $273M, or $0.624 per diluted share in 2024
$1M
Net loss3 of $1M and adjusted operating income3,4 of $15M in the fourth quarter
$137M
Enact reported adjusted operating income of $137M3 in the fourth quarter; distributed $84M in capital returns to Genworth
$52M
Completed annual assumption updates with unfavorable impacts to adjusted operating income (loss) in LTC and Life and Annuities of $52M
306%
U.S. life insurance companies’ RBC5 ratio of 306%6 reflects strong statutory pre-tax income of $378M6 in 2024 and an increase in the value of the limited partnership portfolio, partially offset by higher required capital as the portfolio grows
$294M
Genworth holding company cash and liquid assets of $294M7 at quarter-end
Source: Q4 2024 Earnings Press Release
For complete information regarding our financials, see our periodic filings.
1. Long-term care insurance.
2. Estimated value of rate actions since 2012 through December 31, 2024.
3. All references reflect amounts available to Genworth’s common stockholders.
4. 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.
5. Risk-based capital ratio based on company action level for Genworth Life Insurance Company (GLIC) consolidated.
6. Company estimate for the fourth quarter of 2024 due to timing of the preparation and filing of the statutory financial statement(s).
7. Includes approximately $186 million of advance cash payments from the company’s subsidiaries held for future obligations as of December 31, 2024