Genworth’s Stronger 1Q19 Earnings Hide Higher Delinquencies, FVE Unchanged
Stronger investment markets helped no-moat Genworth generate impressive first-quarter 2019 earnings. Statutory net profit after tax, or NPAT, was materially higher at AUD 47.8 million, compared with AUD 8.4 million in first-quarter 2018. An unrealised gain of AUD 25.5 million on its investment portfolio was the primary driver of the big jump in earnings. Underlying NPAT was also higher but by a more moderate, albeit still impressive, 12.1% to AUD 22.3 million. Underlying NPAT also benefited from...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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