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MorphoSys AG : Publication pursuant to §26 sect.1 WpHG (the German Securities Trading Act) with the aim of pan-European distribution MorphoSys AG / MorphoSys AG : Publication pursuant to §26 sect.1 WpHG (the German Securities Trading Act)...
Motley Fool  Sep 14  Comment 
Despite obstacles in the long-term-care insurance business, Genworth's management has an optimistic view of the future.
Forbes  Sep 11  Comment 
At Holdings Channel, we have reviewed 3,743 13F filings for the 06/30/2014 reporting period, and looked at the various S&P 500 components held by each of these reporting hedge funds and other 13F filers. For each component, we totaled the number...
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 
Bellevue Group acquires Adamant Biomedical Investments AG from Zürcher Kantonalbank and strengthens its leading position in the market for healthcare investing Bellevue Group AG / Bellevue Group acquires Adamant Biomedical Investments AG from...
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Director's Dealings announcement according to §15a WpHG (the German Securities Trading Act) BB Biotech AG / Director's Dealings announcement according to §15a WpHG (the German Securities Trading Act) . Processed and transmitted by...
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Ad hoc: Biofrontera AG and Biosynth AG settle legal issues amicably Biofrontera AG / Keyword(s): Misc. matters / Ad hoc: Biofrontera AG and Biosynth AG settle legal issues amicably . Ad hoc announcement according to § 15 WpHG. Processed and...
SeekingAlpha  Aug 31  Comment 
By Frances Aylor: Long-term care insurance remains a challenging business segment for Genworth (NYSE:GNW). Despite price increases and product changes over the last several years, LTC operating earnings in the second quarter plunged to $6 million,...
DailyFinance  Aug 30  Comment 
NEW YORK, NY--(Marketwired - August 29, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Genworth Financial, Inc. ("Genworth" or the "Company") (NYSE: GNW) of the October 20, 2014 deadline to seek the role...
newratings.com  Aug 29  Comment 
Total number of voting rights in accordance with § 26a WpHG ADVA Optical Networking SE / Total number of voting rights in accordance with § 26a WpHG . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely...




 
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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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