Strong Net Income and Liquidity
Genworth reported a solid net income of $116 million and ended the quarter with a healthy liquidity position, holding $254 million of cash and liquid assets.
Enact's Performance and Capital Returns
Enact contributed $134 million to Genworth's adjusted operating income. Genworth received $110 million of capital returns from Enact in the third quarter, with a total of $1.2 billion received since its IPO in 2021.
Share Repurchase Strategy
Genworth announced a new $350 million repurchase authorization, reflecting confidence in its strategy and financial condition. $76 million of shares were repurchased in the third quarter.
CareScout Expansion and Achievements
CareScout Quality Network now includes over 700 providers with more than 950 locations, exceeding the original match goal for the year with over 3,000 matches expected in 2025. The acquisition of Seniorly enhances the network significantly.