Earnings Releases·Nov 4, 2026, 4:16 PM ET

Genworth Financial — Third Quarter 2026 Earnings Summary

Reported a net loss of $41 million ($0.11 per diluted share) for Q3 2026, a significant deterioration from net income of $116 million ($0.28 per share) in the prior year quarter and $47 million ($0.12 per share) in the prior quarter; adjusted operating income excluding Closed Block fell to $102 million ($0.27 per share) from $113 million and $112 million in the prior year and quarter, respectively.
Enact reported adjusted operating income of $132 million with a 20% loss ratio (up from 15% prior year) and $14.1 billion in primary new insurance written (down 7% quarter-over-quarter due to higher mortgage rates), while the Closed Block segment widened its adjusted operating loss to $146 million driven by $111 million in adverse experience losses.
Capital return initiatives included $80 million in share repurchases at an average price of $10.05, a new $500 million share repurchase authorization, and $122 million in capital returns received from Enact, bringing total repurchases since inception to $998 million.
Management anticipates future remeasurement losses in the Closed Block segment due to persistent adverse variances and expects to complete reviews in Q4 2026 that may impact estimates, assumptions, and valuations.
Holding company cash and liquid assets increased to $320 million at quarter-end, while Enact's PMIERs sufficiency ratio remained strong at 158% and legacy insurance companies' RBC ratio stood at 274%.