Genworth Reports NPAT in FY19 of $120.1 million

Genworth Mortgage Insurance Australia Limited (ASX: GMA) reported its full year FY19 results, where the statutory net profit after tax (NPAT) stood at $120.1 million, Underlying NPAT was $97.0 million and the company declared a fully franked final ordinary dividend of 7.5 cps.

Other key highlights:

  • The company reported New Insurance Written (NIW) in FY19 of $26.7 billion up 20.3%;
  • FY19 Net Earned Premium (NEP) up 6.0% on FY18 NEP and was above guidance of -5% to +5%;
  • FY19 Loss Ratio of 50.6% within guidance of between 45% and 55%.

At AEST 01:03PM, the stock was trading at $3.710 per share, down by 5.115% from its previous close.

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