• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Higher claims persist for Genworth

01 November 2012 5:41PM
Mortgage insurance firm Genworth reported mixed results for the September 2012 quarter. The number of claims paid increased, though the average claim paid fell. Genworth reported a rise in profit for the quarter, however.Genworth said it paid out 963 claims during the quarter, up from 770 in the June quarter, and also up from 852 in the March quarter.The average claim paid was A$84,000 in the September 2012 quarter, down from A$91,000 in the prior quarter, but up from A$77,000 the quarter before that.The number of claims paid is roughly double that of a year ago, and the size of claims is moderately higher.These factors were behind a one-off increase in reserves for Genworth Australia six months ago, which led to the deferral, to 2013, of a planned sale of up to 40 per cent of shares in the company.Genworth said operating earnings were US$57 million in the September 2012, up from US$44 million in the June quarter.It said new business had increased by seven per cent over the last three months.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use