Brief: Genworth Mortgage Insurance Australia Qtrly NPAT A$54.8 Mln

Helia

31/10/2022 21:07

Nov 1 (Reuters) - Genworth Mortgage Insurance Australia
Ltd  GMA.AX :
    * 3Q22 APRA GIILS LODGEMENT AND MARKET UPDATE
    * QTRLY GROSS WRITTEN PREMIUM A$68.5 MILLION
    * HIGHER BOND RATES EXPECTED TO BENEFIT INTEREST INCOME AND
ARE
POSITIVE FOR FUTURE PROFITABILITY
    * QTRLY NPAT A$54.8 MILLION
    * SEES FY22 NEP TO BE TOWARDS THE TOP OF THE GUIDANCE RANGE
OF
A$375 MILLION TO A$435 MILLION
    * QTRLY NET EARNED PREMIUM A$99.6 MILLION
    * QTRLY GWP LOWER THAN PCP DUE TO LOWER INDUSTRY VOLUMES OF
NEW
HIGH LVR LENDING
    * EXPECTS FY22 NET CLAIMS INCURRED TO BE WITHIN RANGE OF
-A$25
MILLION TO +A$25 MILLION
    * YTD INVESTMENT INCOME PRIMARILY IMPACTED BY MOVEMENTS IN
BOND
RATES WHICH HAS HIT STATUTORY NPAT
    * RECENTLY ENTERED PARTNERSHIP WITH HOUSEHOLD CAPITAL, AN
AUSTRALIAN PROVIDER OF HOME EQUITY RETIREMENT FUNDING

Source text for Eikon:  ID:nASX56HtRJ 
Further company coverage:  GMA.AX 
 ((Reuters.Briefs@thomsonreuters.com;))