Genworth Beats Earnings Expectations in Q1

By Allison Bell Insurance Editor ThinkAdvisor

LTCI rate hikes helped boost premium revenue

The Richmond, Virginia-based insurer reported $216 million in net income for the first quarter on $2.2 billion in revenue, up from $108 million in net income on $1.8 billion in revenue per share. Earnings were about 20% higher than what Wall Street securities analysts had predicted, and revenue was 1.5% higher.

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