Genworth (GNW) unveils a capital plan for its U.S. Mortgage Insurance operations which the...


Genworth (GNW) unveils a capital plan for its U.S. Mortgage Insurance operations which the company says will cut its risk-to-capital ratio by 12-15 bps, decrease the chances of the need for a capital raise, and ensure the ability to continue to write new business. The moves allow the separation of the U.S. mortgage business so that its insolvency would not affect the rest of Genworth. Conference call at 9 ET. (PR)

Comments (2)
  • maschoder
    , contributor
    Comments (3) | Send Message
     
    Per the press release USMI should have 1 or 2 positive earnings quarters in 2013 - Given the trends of new delinquencies, reserves, new insurance written, loss mitigation benefits and mortgage insurance penetration, and assuming no significant deterioration in the U.S. housing market or material global economic downturns, the company continues to believe these trends create the conditions for continued improvement in earnings for the U.S. mortgage insurance business, with a potential return to breakeven or modest profitability during one or two quarters in 2013.
    16 Jan 2013, 07:37 AM Reply Like
  • maschoder
    , contributor
    Comments (3) | Send Message
     
    Per the press release USMI should have 1 or 2 positive quarters of earnings in 2013 - Given the trends of new delinquencies, reserves, new insurance written, loss mitigation benefits and mortgage insurance penetration, and assuming no significant deterioration in the U.S. housing market or material global economic downturns, the company continues to believe these trends create the conditions for continued improvement in earnings for the U.S. mortgage insurance business, with a potential return to breakeven or modest profitability during one or two quarters in 2013.
    16 Jan 2013, 07:44 AM Reply Like
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