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Insurance service provider Genworth Financial, Inc. (NYSE: GNW ) has reported higher revenue and profit for the fourth quarter of 2022. The company repurchased $30 million in shares during the quarter.
Net income available to shareholders increased to $175 million or $0.35 per share in the December quarter from $163 million or $0.32 per share in the year-earlier period.
The following benefited from a 9% increase in revenue to $1.90 billion. The impressive performance by the core Premium segment, in terms of revenue growth, more than offset the weakness in other areas.
Read management/analyst commentary on monthly reports
“I am proud of the company’s accomplishments in 2022, including meeting the company’s long-term debt targets, returning capital to shareholders for the first time in more than 13 years, and receiving multiple rating upgrades,” said Genworth CEO Tom McInerney.
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