Filed Under:Health Insurance, Ltci

Genworth LTCI unit turns profit

A Foucault pendulum (Photo © Hervé Marchebois, GNU Free Documentation license)
A Foucault pendulum (Photo © Hervé Marchebois, GNU Free Documentation license)

In spite of a soft economy and low interest rates, the long-term care insurance (LTCI) unit at Genworth Financial Inc. (NYSE:GNW) managed to make money in the fourth quarter of 2012.

The Genworth LTCI unit is reporting $8 million in net income for the quarter on $826 million in revenue, compared with $33 million in net income on $775 million in revenue for the fourth quarter of 2011.

Genworth as a whole is reporting $264 million in net income for the quarter on $2.5 billion in revenue, up from $175 million in net income on $2.6 billion in revenue for the fourth quarter of 2011.

Disappointment

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Nichole Morford

Nichole Morford
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