Genworth Financial experienced a second quarter of elevated claims from lenders that arose from borrower defaults, with the specialist insurance company expecting only a modest improvement over the remainder of this year.
Last night Genworth published its second detailed quarterly update in a row on the issues facing its business in Australia, a level of disclosure motivated by the need to inform restless US investors.The firm's interest in reviving its options for a sell-down of its local subsidiary will be another consideration.
The insurer said it paid out 770 claims in...
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