Genworth Mortgage Insurance Reports 3Q19 Earnings

  • Oct 30, 2019 AEDT
  • Team Kalkine

Genworth Mortgage Insurance Australia Limited (ASX: GMA) has reported on multiple developments, including third quarter earnings (ended 30 September 2019), special dividend, next CEO, and a contract renewal.

  • Statutory NPAT for the period was $25.1 million compared to $19.6 million in pcp.
  • Declared unfranked special dividend of 24.2 cents per share.
  • Net Earned Premium increased by 11.9% to $76.2 million over pcp.
  • GMA renewed mortgage insurance contract with (ASX: CBA) for a three-year period.

In addition, the company has reported that Mr Duncan West would take up the role of acting CEO. Ms Georgette Nicholas – CEO & MD would be retiring on 31 December 2019.

By 12:59 PM AEST, GMA last traded at $4.02, up by 12.3% relative to last close.


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