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Motley Fool  Sep 29  Comment 
With one of the cheapest valuations in the market and a huge future opportunity, maybe it's time to take a change on the long-term care leader.
DailyFinance  Sep 25  Comment 
The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of...
Forbes  Sep 25  Comment 
Investors in Genworth Financial, Inc. (NYSE: GNW) saw new options become available today, for the November 7th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the GNW options chain for the new November 7th...
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Despite obstacles in the long-term-care insurance business, Genworth's management has an optimistic view of the future.
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DailyFinance  Sep 8  Comment 
The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been brought on behalf of those who purchased the securities of Genworth Financial, Inc. (“Genworth” or the “Company”)...
newratings.com  Sep 5  Comment 
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newratings.com  Sep 3  Comment 
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Genworth Financial (NYSE: GNW) provides domestic and international mortgage insurance, long-term care insurance, and life insurance products. Genworth's exposure to some of the recently maligned companies (like Fannie Mae (FNM), Freddie Mac (FRE), American International Group (AIG), Lehman Brothers (LEH), and Washington Mutual (WM)) totals roughly $630 million.[1]

In February 2008, Genworth reported a $93 million write-down due to underestimated risk in its actuarial models as well as losses due to investments in subprime securities.[2] Over the past year, Genworth's stock has steadily fallen from a high of 31.77 per share to a low of 4.85 per share as of September 29, 2008.[3]

That said, the company has maintained its "AA" credit rating while many of its competitors have been reduced to "A" ratings.[4] It maintains approximately $800 million in cash and has a roughly $1.8 billion credit facility available.[5] The company has even continued to issue a $0.10 quarterly dividend.[6]




References

  1. "Genworth says it may spin off its mortgage insurance business, MarketWatch, September 30, 2008
  2. "Zacks Industry Rank Analysis Highlights: AIG, FLIR, GNW, LNC, and NOC", BNET, February 14, 2008
  3. Google Finance GNW Page
  4. "Deutsche Bank analyst: Genworth well-capitalized", Forbes, September 26, 2008
  5. "Conseco shares slump 40% on exposure to AIG, Lehman, WaMu, ShareBuilder, September 17, 2008
  6. Reuters Key Development GNW
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