Enact Strong Financial Contribution
Enact contributed $146 million to Genworth's adjusted operating income in Q4 and $558 million for full-year 2025; Genworth's share of Enact book value (including AOCI) rose to $4.4 billion from $4.1 billion year-over-year.
Material Capital Returned from Enact
Genworth received $127 million from Enact in Q4 and $407 million for full-year 2025; Enact announced a $500 million repurchase authorization and expects to return ~$500 million in 2026, implying Genworth expects approximately $405 million based on ~81% ownership.
Aggressive Share Repurchases and Share Count Reduction
Genworth repurchased $245 million of shares in 2025 (including $94 million in Q4 at an average price of $8.66) and an additional $38 million through Feb 20, 2026; since May 2022 repurchases of ~$828 million reduced shares outstanding by ~24% (from 511 million to 388 million).
CareScout Rapid Growth and Network Expansion
CareScout Quality Network grew to ~790 home care providers (1,000+ locations) covering 97% of the U.S. population aged 65+; CareScout facilitated 925 matches in Q4 and 3,255 matches in 2025 (3x growth vs 2024), exceeding targets (original 2,500 and updated 3,000).
CareScout Product Launch and 2026 Revenue Guidance
Launched Care Assurance LTC product in Q4 (live in 40 states with 4 pending); CareScout services guidance for 2026: ~7,500 matches and at least $25 million revenue; planned CareScout services investment of $50–55 million in 2026.
Investment Portfolio and Alternative Returns
New investments in life companies achieved ~6.5% yields for the quarter; alternative asset program returned approximately 9% for the year; reinvestment yields exceeded yields on sales/maturities.
Closed Block In-Force Risk Mitigation Progress
Multi-year rate action program (MYRAP) has achieved ~$34.5 billion in net present value since 2012; achieved ~$209 million of gross incremental LTC premium approvals in 2025 (including $100 million in Q4) with average premium increases of 38% for the year (35.6% in Q4).
Capital Structure and Debt Metrics
Holding company ended 2025 with $234 million of cash and liquid assets, retired ~$7 million principal of debt in 2025 (holding company debt now $783 million), and maintains a cash interest coverage ratio on debt service of approximately 8x.