QUOTE AND NEWS
Forbes  Apr 13  Comment 
The best performing sector as of midday Monday is the Financial sector, up 0.6%. Within that group, Ameriprise Financial Inc (NYSE: AMP) and Genworth Financial, Inc. (NYSE: GNW) are two of the day's stand-outs, showing a gain of 2.6% and 2.6%,...
TheStreet.com  Apr 13  Comment 
NEW YORK (TheStreet) --Shares of Genworth Financial Inc. are up by 1.62% to $7.86 in mid-morning trading on Monday, following a Sky News report suggesting the struggling insurance company is in talks with private equity firm JC Flowers...
TheStreet.com  Apr 6  Comment 
Editor's Note: Article has been corrected to state that GLAIC generated $199.8 Million in revenue in 2014, not Billion as was previously statedNEW YORK (TheStreet) -- Genworth Financial shares are declining today, down 0.64% to $7.71, after...
Reuters  Apr 2  Comment 
U.S. insurer Genworth Financial Inc is seeking buyers for a life and annuity unit, Bloomberg reported, citing people familiar with the matter.
TheStreet.com  Apr 2  Comment 
NEW YORK (TheStreet) -- Shares of Genworth Financial were gaining 5.7% to $7.75 Thursday following a report that the insurance company is looking to sell its Genworth Life and Annuity Insurance Co. (GLAIC) unit. Genworth is working with...
Forbes  Mar 23  Comment 
In early trading on Monday, shares of Genworth Financial (GNW) topped the list of the day's best performing components of the S&P 500 index, trading up 5.3%. Year to date, Genworth Financial has lost about 8.6% of its value.
Benzinga  Mar 23  Comment 
Analysts at Raymond James upgraded Genworth Financial, Inc. (NYSE: GNW) from Outperform to Strong Buy. The price target for Genworth Financial is set to $12.00. Genworth Financial shares have dropped 58.84% over the past 52 weeks, while the...




 
TOP CONTRIBUTORS

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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