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GNW 資訊
GNW 事件
Genworth CEO Takes Temporary Leave, CFO Appointed Interim CEO
The company states: "Genworth Financial announced that Tom McInerney, President & Chief Executive Officer, will be taking a temporary leave of absence from his role to focus on his health. The Board of Directors has named Jerome Upton, currently Genworth's Chief Financial Officer, as Interim President & Chief Executive Officer, effective immediately."
Genworth Reports Strong Q1 2026 Results
"Genworth is off to a solid start in 2026, with first quarter results demonstrating disciplined execution across our businesses," said Tom McInerney, President & CEO. "Enact's strong cash generation supported capital returns to shareholders, while we continued to build the CareScout platform and enhanced the self-sustainability of the Closed Block. We remain well positioned to deliver long-term shareholder value and help families navigate the aging journey with confidence."
Genworth Responds to UK Court's Approval of Banco Santander's Appeal Request
Genworth (GNW) issued a statement following the UK Court of Appeal's decision to grant Santander's (SAN) request for permission to appeal the High Court's July 25 ruling in favor of certain companies in the AXA group regarding liabilities tied to the mis-selling of payment protection insurance policies. The company said, "At issue were losses incurred from mis-selling complaints for PPI underwritten by the claimants, who were acquired from Genworth in 2015. The policies were distributed by a company acquired by Santander in 2009. In the July 25 judgment and order, the High Court found Santander liable for the claimants' losses and awarded the claimants approximately GBP 680 million in damages, interest, and costs. Santander subsequently applied for permission to appeal, and yesterday the Court of Appeal granted that request. The case will now proceed to a determination by the Court of Appeal which is expected to take approximately 12 to 18 months. Under prior agreements between, amongst others, Genworth and the claimants, Genworth is entitled to a share of any funds the claimants recover from third parties in relation to PPI-related losses. As previously shared, any potential litigation recoveries have not been factored into Genworth's capital allocation plans. Any proceeds received will be deployed in line with Genworth's capital allocation priorities: investing in growth through CareScout, returning capital to shareholders through its buyback program, and opportunistically reducing debt."
Genworth's CareScout Set to Purchase Seniorly
CareScout "announced its planned acquisition of Seniorly, Inc., a leading platform and advisor network that guides families in evaluating and selecting senior living community options. This transaction is expected to be funded from Genworth's existing holding company cash and to close in the fourth quarter of 2025. CareScout expects the payment at closing to Seniorly to be under $20 million. CareScout Holdings, Inc. is a wholly owned subsidiary of Genworth Financial."
Genworth issues statement on ruling in UK payment protection insurance case
Genworth Financial (GNW) issued a statement in response to a UK High Court judgment in favor of AXA (AXAHF) in the legal proceedings against Santander (SAN) companies related to liabilities associated with the historic mis-selling of Payment Protection Insurance policies.The company said, " At issue were losses incurred from mis-selling complaints for PPI underwritten by two companies that AXA acquired from Genworth in 2015. The policies were sold by a company acquired by Santander in 2009. The judgment finds Santander liable for AXA's losses resulting from Santander's mis-selling. At a hearing in London today, the Judge awarded AXA damages, interest, and costs of approximately GBP 680M, or $911M, using a GBP 1/$1.34 exchange rate. Under prior agreements between Genworth and AXA, Genworth is entitled to share in funds that AXA recovers from third parties related to the mis-selling losses. If the judgment is paid in full and appeals, if any, are favorably resolved, Genworth would expect at that time to recover approximately $750M, depending upon the applicable exchange rate at that time. As previously shared, any recoveries have not been factored into Genworth's capital allocation plans. Genworth plans to deploy any recoveries in line with our stated capital allocation priorities: investing in growth through CareScout, returning cash to shareholders through our buyback program, and opportunistically paying down debt."
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