Genworth Mortgage Insurance Transfer of Analyst Coverage
We transfer analyst coverage of Genworth Mortgage Insurance Australia. We reaffirm our current forecasts, our DCF-based fair value estimate of AUD 3.50 per share, our no-moat and very high uncertainty ratings. Despite a contraction in demand, low interest rates, low unemployment and house price appreciation mean Genworth remains a highly profitable mortgage insurer. While profit will continue to trend lower, investors willing to accept earnings risk if Australian economic conditions deteriorate ...Genworth Australia is a provider of lenders mortgage insurance (LMI) under authorisation from Australian Prudential Regulation Authority. Co. provides three LMI products: Standard LMI, Homebuyer Plus and Business Select/Low Doc. Co. maintains commercial relationships with over 105 lender customers across Australia.
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