Genworth MI Canada Inc. reported its third quarter 2018 results. Key highlights included:
- Total premiums written decreased modestly year-over-year due to a smaller mortgage market size and lower average premium rates.
- Net operating income was up quarter-over-quarter primarily due to higher investment income.
- The company maintained a strong capital position with an MCT ratio of 171% and book value per share growth of 7% year-over-year.
- The insurance portfolio quality remained strong with average borrower credit scores of 748 and low levels of high risk loans.
Genworth MI Canada Inc. reported its second quarter 2018 results. Key highlights included:
- Premiums written increased modestly year-over-year due to higher average premium rates, partly offset by lower portfolio insurance premiums.
- The loss ratio was 14%, reflecting a stable macroeconomic environment.
- Net operating income was consistent quarter-over-quarter as higher investment income offset higher losses on claims.
- Book value per share grew 7% year-over-year to $44.40, demonstrating ongoing capital strength.
Genworth MI Canada Inc. reported its first quarter 2018 results. Key highlights included:
- Premiums written decreased 9% year-over-year due to lower portfolio insurance premiums, but transactional premiums increased 22% from a higher average premium rate.
- Net income increased 20% year-over-year to $128 million.
- Operating earnings per share increased 12% year-over-year to $1.31.
- The mortgage insurer maintained a strong capital position with an MCT ratio of 170%.
Genworth MI Canada Inc. reported its third quarter 2017 results. Key highlights included:
- Operating EPS increased 8% year-over-year to $1.23 per share.
- Net operating income decreased 11% quarter-over-quarter to $112 million.
- New insurance written decreased 9% year-over-year to $202 million due to a smaller high loan-to-value origination market from the mortgage stress test.
- Portfolio quality remains strong with credit scores and home prices stable.
Genworth MI Canada Inc. reported its fourth quarter and full year 2017 results. Key highlights included:
- Premiums written decreased 13% year-over-year for the full year to $663 million.
- The loss ratio decreased 12 points year-over-year to 10% for the full year.
- Net operating income increased 20% year-over-year and operating EPS increased 21% for the full year.
- The MCT ratio remained strong at 168% as of December 31, 2017.
Genworth MI Canada Inc. reported its second quarter 2017 results. Key highlights included:
- Premiums written of $170 million, up 33% quarter-over-quarter but down 32% year-over-year.
- A loss ratio of 3%, driven by lower new delinquencies and favourable loss reserve development.
- Operating net income of $126 million, up 17% quarter-over-quarter and 28% year-over-year.
- Ongoing capital strength with a Minimum Capital Test ratio of 167%.
Genworth MI Canada Inc. reported its fourth quarter 2016 results. Key highlights included:
- Net operating income increased 11% year-over-year to $105 million, with an 18% loss ratio.
- Premiums written decreased 20% year-over-year to $171 million due to lower new insurance written.
- Book value per share grew 7% year-over-year to $39.28.
- The company expects its 2017 full year loss ratio to be between 25-35%.
Mike Salop introduces the presentation and notes that it contains forward-looking statements. The document then provides a summary of Western Union's Q4 2016 financial performance, including that GAAP revenues declined 1% while constant currency revenues increased 4%. It also notes that consumer money transfer performance was driven by strong results from westernunion.com and the U.S. business, and that settlements were reached to resolve U.S. government investigations. The presentation concludes by outlining Western Union's 2017 outlook and plans to continue strategic focus on mobile/online services and customer experience through a transformation program.
Visa inc. q1 2017 financial results conference call presentationvisainc
Visa Inc. reported fiscal first quarter 2017 financial results. Key highlights include:
- Net operating revenues increased 25% to $4.5 billion.
- Adjusted net income grew 23% and diluted EPS increased 23%.
- Payments volume excluding Europe co-badge increased 38% on a nominal and constant basis.
- The company repurchased $1.8 billion of stock during the quarter.
Genworth MI Canada Inc. reported its second quarter 2018 results. Key highlights included:
- Premiums written increased modestly year-over-year due to higher average premium rates, partly offset by lower portfolio insurance premiums.
- The loss ratio was 14%, reflecting a stable macroeconomic environment.
- Net operating income was consistent quarter-over-quarter as higher investment income offset higher losses on claims.
- Book value per share grew 7% year-over-year to $44.40, demonstrating ongoing capital strength.
Genworth MI Canada Inc. reported its first quarter 2018 results. Key highlights included:
- Premiums written decreased 9% year-over-year due to lower portfolio insurance premiums, but transactional premiums increased 22% from a higher average premium rate.
- Net income increased 20% year-over-year to $128 million.
- Operating earnings per share increased 12% year-over-year to $1.31.
- The mortgage insurer maintained a strong capital position with an MCT ratio of 170%.
Genworth MI Canada Inc. reported its third quarter 2017 results. Key highlights included:
- Operating EPS increased 8% year-over-year to $1.23 per share.
- Net operating income decreased 11% quarter-over-quarter to $112 million.
- New insurance written decreased 9% year-over-year to $202 million due to a smaller high loan-to-value origination market from the mortgage stress test.
- Portfolio quality remains strong with credit scores and home prices stable.
Genworth MI Canada Inc. reported its fourth quarter and full year 2017 results. Key highlights included:
- Premiums written decreased 13% year-over-year for the full year to $663 million.
- The loss ratio decreased 12 points year-over-year to 10% for the full year.
- Net operating income increased 20% year-over-year and operating EPS increased 21% for the full year.
- The MCT ratio remained strong at 168% as of December 31, 2017.
Genworth MI Canada Inc. reported its second quarter 2017 results. Key highlights included:
- Premiums written of $170 million, up 33% quarter-over-quarter but down 32% year-over-year.
- A loss ratio of 3%, driven by lower new delinquencies and favourable loss reserve development.
- Operating net income of $126 million, up 17% quarter-over-quarter and 28% year-over-year.
- Ongoing capital strength with a Minimum Capital Test ratio of 167%.
Genworth MI Canada Inc. reported its fourth quarter 2016 results. Key highlights included:
- Net operating income increased 11% year-over-year to $105 million, with an 18% loss ratio.
- Premiums written decreased 20% year-over-year to $171 million due to lower new insurance written.
- Book value per share grew 7% year-over-year to $39.28.
- The company expects its 2017 full year loss ratio to be between 25-35%.
Mike Salop introduces the presentation and notes that it contains forward-looking statements. The document then provides a summary of Western Union's Q4 2016 financial performance, including that GAAP revenues declined 1% while constant currency revenues increased 4%. It also notes that consumer money transfer performance was driven by strong results from westernunion.com and the U.S. business, and that settlements were reached to resolve U.S. government investigations. The presentation concludes by outlining Western Union's 2017 outlook and plans to continue strategic focus on mobile/online services and customer experience through a transformation program.
Visa inc. q1 2017 financial results conference call presentationvisainc
Visa Inc. reported fiscal first quarter 2017 financial results. Key highlights include:
- Net operating revenues increased 25% to $4.5 billion.
- Adjusted net income grew 23% and diluted EPS increased 23%.
- Payments volume excluding Europe co-badge increased 38% on a nominal and constant basis.
- The company repurchased $1.8 billion of stock during the quarter.
ADP reported solid results for the 1st quarter of fiscal year 2017, with 7% revenue growth and strong margin expansion. Revenues increased 7% as reported and 8% on a constant currency basis. Adjusted EBIT margin increased 230 basis points. New business bookings for PEO services were flat compared to the prior year when excluding a single client loss in the consumer health spending account business. ADP reaffirmed its fiscal year 2017 guidance for revenue growth of 7-8% and adjusted diluted EPS growth of 11-13%.
The document provides an overview of TDS Telecom's fourth quarter 2016 results and strategic priorities for 2017. Key points include:
- 2016 results showed revenue impacts from competition but improvements in churn. Adjusted EBITDA was up 4% excluding discrete items.
- 2017 priorities are protecting the customer base, driving high margin revenue streams, and continuing cost improvements. Investments will focus on network quality and preparing for VoLTE deployment.
- Guidance for 2017 estimates total operating revenues of $3.8-4 billion and adjusted EBITDA of $650-800 million.
Genworth MI Canada Inc. reported its third quarter 2016 results. Key highlights included:
- Premiums written decreased 10% quarter-over-quarter and 14% year-over-year due to lower transactional insurance volumes.
- The loss ratio increased to 25% due to a rise in new delinquencies primarily in oil-producing regions of Alberta and Quebec.
- Net operating income decreased 6% quarter-over-quarter primarily due to higher losses on claims, though it was up 1% year-over-year.
Visa inc. q2 2017 financial results conference call presentationvisainc
- Visa reported strong fiscal second quarter 2017 financial results, with adjusted net income of $2.1 billion excluding special items related to the Visa Europe reorganization.
- Net operating revenue increased 23% to $4.5 billion, driven by the inclusion of Europe and continued growth in payments volume, cross-border volume, and processed transactions.
- The company returned approximately $2.1 billion to shareholders in the form of share repurchases and dividends in the fiscal second quarter.
2017 First Quarter Earnings Presentationsanmina2017ir
- The company reported revenue of $1.72B for the first quarter of fiscal 2017, which was in line with guidance of $1.675-1.725B. Non-GAAP diluted EPS was $0.75, above guidance of $0.65-0.70.
- For the second quarter of fiscal 2017, the company expects revenue of $1.675-1.725B and non-GAAP EPS of $0.67-0.72.
- The CEO remarked that demand remains good and the company continues to generate cash, and expects a strong second half of fiscal 2017.
Visa inc. Q3 2017 financial results conference call presentationvisainc
Visa reported strong fiscal third quarter 2017 financial results, with net income of $2.1 billion and net operating revenue growth of 26%. Payments volume grew 25% nominally, driven by inclusion of Europe and continued growth. Visa returned $2.1 billion to shareholders in the form of share repurchases and dividends. For fiscal full-year 2017, Visa expects net revenue growth of approximately 20% and operating margin in the mid-60s.
ADP reported financial results for the third quarter of fiscal year 2017. Total revenues increased 5% to $3.2 billion, while pretax earnings from continuing operations increased 12% to $0.79 billion. Diluted earnings per share from continuing operations increased 4% to $1.17. The company also provided an outlook for fiscal year 2017, forecasting 6% revenue growth and an increase in adjusted diluted EPS from continuing operations of 13-14%.
Genworth MI Canada reported its Q2 2016 results. Key highlights included:
- Premiums written increased 113% quarter-over-quarter due to higher portfolio insurance volumes and seasonality.
- The loss ratio was 21%, down from 24% last quarter, driven by typical seasonal factors and improvements in Quebec.
- Net operating income increased 8% quarter-over-quarter to $99 million, driven by higher premiums earned and lower losses on claims.
- The MCT ratio remained strong at 233%, down slightly from last quarter but up from the prior year.
Tax Reform: Time for Rubber to meet the road!David Apted
The passage discusses the potential impacts of the recently passed Tax Cuts and Jobs Act. It suggests that the tax cuts could significantly boost US corporate earnings and economic growth. Specifically, it predicts earnings for the S&P 500 index may increase 13-18% in 2018 due to the lower corporate tax rate of 21%. This would push the index's price-to-earnings ratio to a more reasonable level. Industries with large domestic revenues like retail, telecom, and utilities may benefit the most. The tax cuts could also push GDP growth above 3% over the next few years and further delay recession risks.
Genworth MI Canada Inc. reported its fourth quarter 2015 results. Key highlights included:
- Premiums written decreased 18% quarter-over-quarter but increased 20% year-over-year.
- The loss ratio was 23% for the quarter, up 2 percentage points from the prior quarter.
- Operating income increased 3% year-over-year to $95 million for the quarter.
- Book value per share increased 5% year-over-year to $36.82.
This document provides Nielsen's financial results for the second quarter of 2017. Key points include:
- Total revenue grew 3.0% year-over-year to $1.644 billion. Net income increased 15.9% to $131 million.
- On a non-GAAP basis, core revenue grew 7.6% to $1.579 billion and adjusted EBITDA increased 4.9% to $512 million.
- The Watch segment saw strong 10.9% revenue growth, driven by growth in audience measurement and marketing effectiveness. The Buy segment declined 1.8% due to challenges in the US market, though emerging markets grew 10%.
Brink's june 5 2018 investor presentation final 06042018investorsbrinks
The document is an investor presentation by Brink's, a global security company. It provides an overview of Brink's business and strategy. Some key points:
- Brink's operates in over 100 countries and is the global leader in cash management services. It provides core cash services as well as high-value services like money processing and vault outsourcing.
- Brink's three-year strategic plan aims to accelerate profitable growth through organic growth initiatives and acquisitions. The plan targets adjusted EBITDA of $685 million by 2019 through both organic growth and synergistic acquisitions.
- Acquisitions are a key part of the strategy to expand in core markets. Recent and planned acqu
Brink's investor presentation february 2018 final 02252018investorsbrinks
The document summarizes Brink's presentation at a conference on its global secure logistics business. It discusses Brink's 2017 financial results, three-year strategic plan to accelerate profitable growth through both organic initiatives and acquisitions, and recent acquisitions that expand its core markets. It also reviews Brink's capital structure and debt capacity to fund its acquisition strategy through 2022.
Morgan Stanley reported first quarter net income of $848 million, down 21% from the previous year. Revenue was $5.3 billion, down 16% year-over-year. While costs were well-controlled, declining 17% from last quarter and 19% year-over-year, business continued to be slow in investment banking and retail securities. The company achieved a return on equity of 16% for the quarter.
Presentation des resultats financiers du deuxieme trimestre 2013 de Genworth ...genworth_financial
This document provides a summary of Genworth MI Canada Inc.'s second quarter 2013 results. Key highlights include an 11% increase in net operating income compared to Q2 2012, strong capital levels with a minimum capital test ratio of 216%, and continued improvement in delinquency rates across regions. New insurance written in 2013 has benefited from solid borrower credit quality and stable housing prices.
- Genworth MI Canada reported financial results for Q1 2016, with premiums written down 45% quarter-over-quarter due to targeted underwriting changes and a smaller transactional insurance market. The loss ratio was 24%, up slightly from the previous quarter.
- Key themes for 2016 include new capital standards for mortgage insurers being implemented in 2017, a focus on underwriting quality, and moderately lower premiums written with expected growth of over 5% in premiums earned.
- The portfolio quality of new insurance written continues to improve compared to 2007/08 levels, with steadily rising credit scores and stable debt servicing ratios.
Genworth MI Canada Inc. provides mortgage default insurance primarily in Canada. In Q1 2016, the company saw a decline in new insurance written and net premiums written compared to the previous year, constrained by targeted underwriting changes and a smaller transactional insurance market. The loss ratio in Q1 2016 was 24%, within the company's expected range. Genworth maintains a strong capital position with a minimum capital test ratio of 234% as of Q1 2016.
This document discusses Genworth MI Canada Inc., a residential mortgage insurer in Canada. It provides the following information:
- Genworth has a proven business model as the largest private residential mortgage insurer in Canada. It has helped over 1 million families achieve homeownership.
- For 2016, Genworth expects regulatory changes, a modestly smaller mortgage originations market, and economic factors like low oil prices to impact its business. It forecasts moderately lower total premiums written but modest growth in premiums earned.
- Genworth maintains a strong financial position with a 2015 loss ratio of 21% and capital ratio of 233%. It expects its 2016 loss ratio to be in the range of 25-40% given economic assumptions.
Morgan Stanley reported second quarter net income of $797 million, down 14% from the previous year. Net revenues decreased 17% to $4.965 billion due to declines across most business segments. However, the company maintained a return on equity of 15% and benefited from strength in its Discover credit card segment. Going forward, Morgan Stanley will continue exercising expense discipline while serving client needs in challenging markets.
Fifth Third Bancorp reported a 15% increase in third quarter earnings and a 20% increase in earnings for the first nine months of 2002 compared to the same periods in 2001. Operating earnings per diluted share increased 13% for the quarter and 19% for the first nine months. The company saw strong growth in deposits and loans, with transaction deposits up 42% and total loans and leases up 12% compared to a year ago. Non-interest income was also up 22% compared to the previous year's third quarter, driven by increases in deposit service revenues, investment advisory revenues, and Midwest Payment Systems revenues.
The document provides financial results and highlights from Principal Financial Group's second quarter of 2018. Some key points include:
- Non-GAAP operating earnings of $391 million and earnings per share of $1.35.
- Assets under management of $667 billion despite $16 billion in foreign exchange headwinds.
- Business fundamentals remain strong, with continued capital deployment to create shareholder value through share repurchases, dividends, and mergers and acquisitions.
This document provides details on CNO Financial Group's second quarter 2018 earnings results and a long-term care reinsurance transaction. Some key points:
- CNO entered an agreement to cede approximately $2.7 billion of long-term care reserves to Wilton Re, reducing risk. An $825 million ceding commission was paid.
- The transaction reduces CNO's exposure to risks under stress scenarios and improves various financial metrics like RBC ratios and debt-to-capital.
- For Q2 2018, CNO reported operating EPS growth of 9% and book value per share growth. Various business metrics like annuity account values and fee revenue increased.
- Going forward, CNO
ADP reported solid results for the 1st quarter of fiscal year 2017, with 7% revenue growth and strong margin expansion. Revenues increased 7% as reported and 8% on a constant currency basis. Adjusted EBIT margin increased 230 basis points. New business bookings for PEO services were flat compared to the prior year when excluding a single client loss in the consumer health spending account business. ADP reaffirmed its fiscal year 2017 guidance for revenue growth of 7-8% and adjusted diluted EPS growth of 11-13%.
The document provides an overview of TDS Telecom's fourth quarter 2016 results and strategic priorities for 2017. Key points include:
- 2016 results showed revenue impacts from competition but improvements in churn. Adjusted EBITDA was up 4% excluding discrete items.
- 2017 priorities are protecting the customer base, driving high margin revenue streams, and continuing cost improvements. Investments will focus on network quality and preparing for VoLTE deployment.
- Guidance for 2017 estimates total operating revenues of $3.8-4 billion and adjusted EBITDA of $650-800 million.
Genworth MI Canada Inc. reported its third quarter 2016 results. Key highlights included:
- Premiums written decreased 10% quarter-over-quarter and 14% year-over-year due to lower transactional insurance volumes.
- The loss ratio increased to 25% due to a rise in new delinquencies primarily in oil-producing regions of Alberta and Quebec.
- Net operating income decreased 6% quarter-over-quarter primarily due to higher losses on claims, though it was up 1% year-over-year.
Visa inc. q2 2017 financial results conference call presentationvisainc
- Visa reported strong fiscal second quarter 2017 financial results, with adjusted net income of $2.1 billion excluding special items related to the Visa Europe reorganization.
- Net operating revenue increased 23% to $4.5 billion, driven by the inclusion of Europe and continued growth in payments volume, cross-border volume, and processed transactions.
- The company returned approximately $2.1 billion to shareholders in the form of share repurchases and dividends in the fiscal second quarter.
2017 First Quarter Earnings Presentationsanmina2017ir
- The company reported revenue of $1.72B for the first quarter of fiscal 2017, which was in line with guidance of $1.675-1.725B. Non-GAAP diluted EPS was $0.75, above guidance of $0.65-0.70.
- For the second quarter of fiscal 2017, the company expects revenue of $1.675-1.725B and non-GAAP EPS of $0.67-0.72.
- The CEO remarked that demand remains good and the company continues to generate cash, and expects a strong second half of fiscal 2017.
Visa inc. Q3 2017 financial results conference call presentationvisainc
Visa reported strong fiscal third quarter 2017 financial results, with net income of $2.1 billion and net operating revenue growth of 26%. Payments volume grew 25% nominally, driven by inclusion of Europe and continued growth. Visa returned $2.1 billion to shareholders in the form of share repurchases and dividends. For fiscal full-year 2017, Visa expects net revenue growth of approximately 20% and operating margin in the mid-60s.
ADP reported financial results for the third quarter of fiscal year 2017. Total revenues increased 5% to $3.2 billion, while pretax earnings from continuing operations increased 12% to $0.79 billion. Diluted earnings per share from continuing operations increased 4% to $1.17. The company also provided an outlook for fiscal year 2017, forecasting 6% revenue growth and an increase in adjusted diluted EPS from continuing operations of 13-14%.
Genworth MI Canada reported its Q2 2016 results. Key highlights included:
- Premiums written increased 113% quarter-over-quarter due to higher portfolio insurance volumes and seasonality.
- The loss ratio was 21%, down from 24% last quarter, driven by typical seasonal factors and improvements in Quebec.
- Net operating income increased 8% quarter-over-quarter to $99 million, driven by higher premiums earned and lower losses on claims.
- The MCT ratio remained strong at 233%, down slightly from last quarter but up from the prior year.
Tax Reform: Time for Rubber to meet the road!David Apted
The passage discusses the potential impacts of the recently passed Tax Cuts and Jobs Act. It suggests that the tax cuts could significantly boost US corporate earnings and economic growth. Specifically, it predicts earnings for the S&P 500 index may increase 13-18% in 2018 due to the lower corporate tax rate of 21%. This would push the index's price-to-earnings ratio to a more reasonable level. Industries with large domestic revenues like retail, telecom, and utilities may benefit the most. The tax cuts could also push GDP growth above 3% over the next few years and further delay recession risks.
Genworth MI Canada Inc. reported its fourth quarter 2015 results. Key highlights included:
- Premiums written decreased 18% quarter-over-quarter but increased 20% year-over-year.
- The loss ratio was 23% for the quarter, up 2 percentage points from the prior quarter.
- Operating income increased 3% year-over-year to $95 million for the quarter.
- Book value per share increased 5% year-over-year to $36.82.
This document provides Nielsen's financial results for the second quarter of 2017. Key points include:
- Total revenue grew 3.0% year-over-year to $1.644 billion. Net income increased 15.9% to $131 million.
- On a non-GAAP basis, core revenue grew 7.6% to $1.579 billion and adjusted EBITDA increased 4.9% to $512 million.
- The Watch segment saw strong 10.9% revenue growth, driven by growth in audience measurement and marketing effectiveness. The Buy segment declined 1.8% due to challenges in the US market, though emerging markets grew 10%.
Brink's june 5 2018 investor presentation final 06042018investorsbrinks
The document is an investor presentation by Brink's, a global security company. It provides an overview of Brink's business and strategy. Some key points:
- Brink's operates in over 100 countries and is the global leader in cash management services. It provides core cash services as well as high-value services like money processing and vault outsourcing.
- Brink's three-year strategic plan aims to accelerate profitable growth through organic growth initiatives and acquisitions. The plan targets adjusted EBITDA of $685 million by 2019 through both organic growth and synergistic acquisitions.
- Acquisitions are a key part of the strategy to expand in core markets. Recent and planned acqu
Brink's investor presentation february 2018 final 02252018investorsbrinks
The document summarizes Brink's presentation at a conference on its global secure logistics business. It discusses Brink's 2017 financial results, three-year strategic plan to accelerate profitable growth through both organic initiatives and acquisitions, and recent acquisitions that expand its core markets. It also reviews Brink's capital structure and debt capacity to fund its acquisition strategy through 2022.
Morgan Stanley reported first quarter net income of $848 million, down 21% from the previous year. Revenue was $5.3 billion, down 16% year-over-year. While costs were well-controlled, declining 17% from last quarter and 19% year-over-year, business continued to be slow in investment banking and retail securities. The company achieved a return on equity of 16% for the quarter.
Presentation des resultats financiers du deuxieme trimestre 2013 de Genworth ...genworth_financial
This document provides a summary of Genworth MI Canada Inc.'s second quarter 2013 results. Key highlights include an 11% increase in net operating income compared to Q2 2012, strong capital levels with a minimum capital test ratio of 216%, and continued improvement in delinquency rates across regions. New insurance written in 2013 has benefited from solid borrower credit quality and stable housing prices.
- Genworth MI Canada reported financial results for Q1 2016, with premiums written down 45% quarter-over-quarter due to targeted underwriting changes and a smaller transactional insurance market. The loss ratio was 24%, up slightly from the previous quarter.
- Key themes for 2016 include new capital standards for mortgage insurers being implemented in 2017, a focus on underwriting quality, and moderately lower premiums written with expected growth of over 5% in premiums earned.
- The portfolio quality of new insurance written continues to improve compared to 2007/08 levels, with steadily rising credit scores and stable debt servicing ratios.
Genworth MI Canada Inc. provides mortgage default insurance primarily in Canada. In Q1 2016, the company saw a decline in new insurance written and net premiums written compared to the previous year, constrained by targeted underwriting changes and a smaller transactional insurance market. The loss ratio in Q1 2016 was 24%, within the company's expected range. Genworth maintains a strong capital position with a minimum capital test ratio of 234% as of Q1 2016.
This document discusses Genworth MI Canada Inc., a residential mortgage insurer in Canada. It provides the following information:
- Genworth has a proven business model as the largest private residential mortgage insurer in Canada. It has helped over 1 million families achieve homeownership.
- For 2016, Genworth expects regulatory changes, a modestly smaller mortgage originations market, and economic factors like low oil prices to impact its business. It forecasts moderately lower total premiums written but modest growth in premiums earned.
- Genworth maintains a strong financial position with a 2015 loss ratio of 21% and capital ratio of 233%. It expects its 2016 loss ratio to be in the range of 25-40% given economic assumptions.
Morgan Stanley reported second quarter net income of $797 million, down 14% from the previous year. Net revenues decreased 17% to $4.965 billion due to declines across most business segments. However, the company maintained a return on equity of 15% and benefited from strength in its Discover credit card segment. Going forward, Morgan Stanley will continue exercising expense discipline while serving client needs in challenging markets.
Fifth Third Bancorp reported a 15% increase in third quarter earnings and a 20% increase in earnings for the first nine months of 2002 compared to the same periods in 2001. Operating earnings per diluted share increased 13% for the quarter and 19% for the first nine months. The company saw strong growth in deposits and loans, with transaction deposits up 42% and total loans and leases up 12% compared to a year ago. Non-interest income was also up 22% compared to the previous year's third quarter, driven by increases in deposit service revenues, investment advisory revenues, and Midwest Payment Systems revenues.
The document provides financial results and highlights from Principal Financial Group's second quarter of 2018. Some key points include:
- Non-GAAP operating earnings of $391 million and earnings per share of $1.35.
- Assets under management of $667 billion despite $16 billion in foreign exchange headwinds.
- Business fundamentals remain strong, with continued capital deployment to create shareholder value through share repurchases, dividends, and mergers and acquisitions.
This document provides details on CNO Financial Group's second quarter 2018 earnings results and a long-term care reinsurance transaction. Some key points:
- CNO entered an agreement to cede approximately $2.7 billion of long-term care reserves to Wilton Re, reducing risk. An $825 million ceding commission was paid.
- The transaction reduces CNO's exposure to risks under stress scenarios and improves various financial metrics like RBC ratios and debt-to-capital.
- For Q2 2018, CNO reported operating EPS growth of 9% and book value per share growth. Various business metrics like annuity account values and fee revenue increased.
- Going forward, CNO
Brink's to acquire dunbar investor presentation final 05302018investorsbrinks
This document discusses Brink's acquisition of Dunbar Armored for $520 million to strengthen its U.S. operations. The acquisition combines the #2 and #4 largest U.S. cash management companies. Dunbar has $390 million in LTM revenue and $43 million in LTM adjusted EBITDA. Brink's expects to achieve $40-45 million in cost synergies. The acquisition is expected to be accretive in year 1 and add approximately $0.90 to non-GAAP EPS in year 2. The acquisition and other initiatives are expected to reduce Brink's effective tax rate beginning in 2019.
Pitney Bowes reported their fourth quarter and annual financial results for 2008. Their adjusted earnings per share increased 8% for the quarter and 2% for the full year. On a GAAP basis, they reported earnings per share of $0.36 for the quarter and $2.00 for the full year. For 2009, they expect revenue to decline 4-7% due to currency impacts, and for adjusted earnings per share to be in the range of $2.55 to $2.75.
Pitney Bowes reported its fourth quarter and annual financial results for 2008. Adjusted earnings per share increased 8% for the quarter and 2% for the full year. Revenue declined 7% for the quarter due to currency fluctuations but increased 2% for the full year. The company expects revenue to decline 4-7% in 2009 due to currency impacts but for adjusted earnings per share to grow in the mid-single digit range compared to 2008.
Pitney Bowes reported their fourth quarter and annual financial results for 2008. Their adjusted earnings per share increased 8% for the quarter and 2% for the full year. On a GAAP basis, they reported earnings per share of $0.36 for the quarter and $2.00 for the full year. For 2009, they expect revenue to decline 4-7% due to currency impacts, and for adjusted earnings per share to be in the range of $2.55 to $2.75.
Pitney Bowes reported their fourth quarter and annual financial results for 2008. Their adjusted earnings per share increased 8% for the quarter and 2% for the full year. On a GAAP basis, they reported earnings per share of $0.36 for the quarter and $2.00 for the full year. For 2009, they expect revenue to decline 4-7% due to currency impacts, and for adjusted earnings per share to be in the range of $2.55 to $2.75.
- Q3 2018 revenue increased 13% to $446 million, driven by a 22% increase in PEG revenue. Batesville revenue decreased 6%.
- GAAP EPS was $0.56, up 9% from the prior year. Adjusted EPS was $0.57, up 8%.
- PEG revenue growth was driven by continued demand across segments. Adjusted EBITDA margin decreased due to a higher proportion of lower margin projects.
- Batesville revenue declined due to lower estimated cremation rates and an upfront incentive linked to a key customer contract renewal. Adjusted EBITDA margin declined due to the contract renewal and cost inflation.
- Genworth MI Canada reported its first quarter 2017 results, with net operating income up 17% year-over-year to $107 million. Premiums written increased 9% year-over-year to $127 million. The loss ratio was 15%, down from 24% in the first quarter of 2016.
- New insurance written decreased year-over-year due to smaller high loan-to-value origination markets following regulatory changes in the fourth quarter of 2016. Premium rate increases implemented in March 2017 are expected to boost premiums written for the rest of 2017 and future years.
- Portfolio quality remains strong, with the average credit score steady at 745 and low exposure to loans with multiple risk factors. The
Principal Financial Group reported second quarter 2017 earnings results. Some key highlights included:
- Record quarterly operating earnings of $384 million and record quarterly operating earnings per share of $1.31.
- Assets under management reached a record high of $629 billion, despite negative net cash flows in the second quarter.
- Over 80% of investment options performed in the top two Morningstar quartiles over three and five-year periods, demonstrating strong investment performance.
- The company continued to deploy capital through dividends, share repurchases, and increased ownership in a PGI boutique, while announcing a 15% increase to the third quarter dividend.
Brink's second quarter 2018 results presentation 07252018investorsbrinks
The document provides an overview of Brink's second quarter 2018 financial results. Some key points:
- Revenue increased 8% to $824 million, with 8% organic growth. Operating profit grew 25% to $76 million.
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- South America saw 27% operating profit growth as organic revenue increased 20%, offsetting currency impacts.
- The Rest of World saw modest profit growth of 3% due to pricing pressures in France, offset by growth elsewhere.
- Full year 2018 guidance is revised to reflect currency impacts, with operating profit now expected to increase 25-
This document summarizes John Sznewajs' presentation at the 39th Annual Institutional Investor Conference in March 2018. The presentation discusses Masco's business today, strategy for profitable growth, and future outlook. Masco has a diversified business mix across price points, channels, and geographies that results in stable revenues. The company's strategy focuses on driving the full potential of its businesses, leveraging opportunities across its portfolio, and actively managing its portfolio. Masco expects this strategy to generate substantial cash flow and allow for 23% annual EPS growth from 2016 to 2019 through revenue growth, cost improvements, and capital allocation.
MGM Resorts International reported financial results for the third quarter of 2017. Net income was $149 million. Domestic resort revenues increased 18% due to strong performance of Las Vegas Strip properties and a full quarter of operations for recently acquired properties. Adjusted Property EBITDA for domestic resorts grew 25% to $714 million. MGM China reported a 21% decrease in Adjusted EBITDA to $118 million despite a 2% increase from the previous quarter. MGM Resorts remains focused on maximizing shareholder value through continued investment in existing properties and prudent growth opportunities.
Atento reported its third quarter 2018 results, with revenues increasing 0.9% year-over-year driven by continued growth in multisector revenues. Brazil saw a revenue increase of 2.8% and a strong margin expansion of 3.3 percentage points to 11.9% due to operational improvements. The Americas saw revenues decline 1.2% impacted by lower volumes, while EMEA revenues grew 2.1% with adjusted EBITDA margin expanding 3.9 percentage points to 10.3% due to higher multisector volumes.
Brinks q1 2018 earnings slides final 04242018investorsbrinks
The document provides a summary of Brink's first quarter 2018 results. Key points include:
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- Adjusted EBITDA increased 25% to $110 million, with a margin of 12.9%.
- EPS increased 12% to $0.65.
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QTS Realty Trust reported earnings results for the fourth quarter of 2019. Key highlights included:
- Signed new and modified leases totaling $27.7 million in incremental annualized rent, the strongest leasing quarter in company history.
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This document summarizes WestRock's Q3 FY18 financial results. Key highlights include a 12% increase in net sales year-over-year and strong demand fundamentals across segments. Adjusted earnings per share were up 47% to $1.09. Adjusted segment EBITDA grew 27% with margins expanding 220 basis points. The corrugated packaging segment saw a 29% increase in adjusted segment EBITDA with North America margins improving 420 basis points. The acquisition of KapStone is expected to close by the end of 2018. Full year 2018 guidance projects 10% revenue growth, over 27% adjusted EBITDA growth, and 22.5% adjusted operating cash flow growth.
Intact Financial Corporation is Canada's largest home, auto and business insurer with over $4 billion in annual direct premiums written. It has a dominant market share in Ontario, Quebec, Alberta and Nova Scotia. Intact has consistently outperformed the Canadian P&C insurance industry in terms of premium growth, combined ratios and returns on equity over the past 10 years. The company has a strong financial position with $8.2 billion in invested assets and excess capital of $766 million. Intact plans to continue growing organically through rate increases and expanding its broker relationships, direct and affinity brands. It also aims to participate in industry consolidation through its $1 billion acquisition capacity.
Intact Financial Corporation is Canada's largest home, auto and business insurer with over $4 billion in annual direct premiums written. It has a dominant market share in Ontario, Quebec, Alberta and Nova Scotia. Intact has consistently outperformed the Canadian P&C insurance industry in terms of premium growth, combined ratios and returns on equity over the past 10 years. The company has a strong financial position with $8.2 billion in invested assets and excess capital of $766 million. Intact plans to continue growing organically through rate increases and expanding its broker relationships, direct and affinity brands. It also aims to participate in industry consolidation through its $1 billion acquisition capacity.
QTS Realty Trust presented its fourth quarter and full year 2020 earnings results. Key highlights included:
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QTS' results demonstrated strong leasing momentum with record backlog entering 2021 to support continued growth.
Genworth MI Canada held its 2017 Investor Day on December 6th. The presentation focused on the company's strategic outlook, disciplined risk management approach, and financial strategy. Key points included growing customer relationships in a prudent manner, leveraging data analytics to enhance underwriting and customer experience, and maintaining a strong risk governance framework. The outlook for 2018 expects ongoing economic strength in Canada and a gradual normalization of housing markets.
Final investor day slides 2016 genworth canada - print versiongenworth_financial
This document provides an overview and agenda for Genworth MI Canada's 2016 Investor Day. It includes the following key points:
- The agenda covers strategic outlook, dynamic risk management, financial strategy and insights, and a Q&A session.
- Genworth MI Canada is the largest private residential mortgage insurer in Canada, helping over 1 million families achieve homeownership.
- The company focuses on managing portfolio quality and risk through tools like its proprietary mortgage scoring model and risk limits. It also monitors macroeconomic factors and housing market trends.
- For 2017, the company expects a stable to improving macroeconomic environment in Canada with GDP growth and a stable unemployment rate. Housing price depreciation is expected to
This document discusses Genworth MI Canada's 2015 Investor Day. It provides an overview of Genworth as the largest private residential mortgage insurer in Canada. It highlights Genworth's key accomplishments including strong but prudent top line growth and a high quality diversified insurance portfolio. The document also discusses Genworth's proven business model, strategic priorities, and approach to prudent risk management.
This document provides a summary of Genworth MI Canada Inc.'s financial results for the third quarter of 2015. Some key highlights include:
- Premiums written increased 20% year-over-year to $260 million due to market penetration and recent premium rate increases.
- Net operating income was flat quarter-over-quarter at $92 million.
- The loss ratio was 21% and the minimum capital test ratio was estimated at 227%, demonstrating ongoing capital strength.
- The company maintained a consistent dividend increase of 8% to $0.42 per share.
Genworth MI Canada reported its financial results for the second quarter of 2015. Premiums written increased 57% quarter-over-quarter and 28% year-over-year to $205 million due to higher premium rates, market share gains, and a larger origination market. The loss ratio improved to 17%, down 5 percentage points from the previous quarter. Net operating income was $92 million, down 5% from the previous quarter primarily due to a one-time tax adjustment in Q1 2015. The company maintained a strong capital position with an MCT ratio of 231%.
This document discusses Genworth MI Canada's financial results for Q1 2015. Key highlights include premiums written of $130 million, underwriting income of $87 million, net operating income of $97 million, diluted operating EPS of $1.03, and book value per share of $36.07. The company achieved a loss ratio of 22% and maintained consistent investment income, while expanding its minimum capital test ratio.
- This document summarizes findings from a study of 1,800 first-time homebuyers in Canada conducted between February and March 2015.
- Key findings include that over half purchased detached homes, with condos being more popular in large cities. The median home price was $293,000 with a down payment of $34,000 or 12% of the total.
- Most obtained down payment funds from personal savings, with RRSP withdrawals and family gifts/loans also common sources. Banks were the most common source of mortgage assistance.
This document provides an overview of Genworth MI Canada Inc., including its financial results, strategic priorities, investment portfolio, and capital strength. Some key points include: Genworth achieved strong top and bottom line growth in 2014 driven by higher mortgage insurance premium volume and rate increases. It maintains a high quality, diversified insured mortgage portfolio and investment portfolio. Genworth's capital levels significantly exceed regulatory requirements, with an MCT ratio of 185% as of 2014, allowing it to return capital to shareholders through dividend increases and share repurchases.
Genworth MI Canada reported its financial results for Q4 2014. Premiums written increased 25% year-over-year to $640 million for 2014. The loss ratio was 20% for the full year, 5 points lower than 2013. Net operating income increased 5% to $366 million. The minimum capital test ratio remained strong at 225%.
This document summarizes a presentation by Genworth MI Canada Inc. It discusses four key growth levers for the company's business: 1) increasing market share through enhancing customer experience, building value proposition, and deepening collaboration, 2) growth in market size supported by demographics and immigration, 3) opportunities to adjust premium rates, and 4) pursuing adjacent opportunities. The presentation outlines Genworth's vision, strategic priorities, and catalysts for growth including expanding market presence and prudent risk management.
Genworth MI Canada Investor Presentation September 2014genworth_financial
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Genworth MI Canada Inc. reported its financial results for the fourth quarter of 2013 on February 5, 2014. The company achieved solid earnings performance in 2013 with net operating income growing 3% year-over-year to $349 million and book value per share increasing 6%. For the fourth quarter, the company reported net operating income of $85 million, operating EPS of $0.90, and book value per share of $32.53. The company benefited from a low loss ratio driven by strong portfolio quality and favorable economic conditions. Looking ahead, the company expects a stable housing market and modest premium growth in 2014 while maintaining strong underwriting performance.
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- Net operating income increased 11% year-over-year to $88 million.
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Mic earnings deck_q3_2018
1. 1Genworth MI Canada Inc.Q3 2018 Results
October 30th, 2018
Third Quarter 2018 Results
2. 2Genworth MI Canada Inc.Q3 2018 Results
Forward-looking and
non-IFRS statements
DRIVING VALUE THROUGH CUSTOMIZED SERVICE EXPERIENCE
Public communications, including oral or written communications such as this document, relating to Genworth MI Canada Inc. (the “Company”,
“Genworth Canada” or “MIC”) often contain certain forward-looking statements. These forward-looking statements include, but are not limited
to, statements with respect to the impact of guideline changes by OSFI and legislation introduced in connection with the Protection of
Residential Mortgage or Hypothecary Insurance Act (“PRMHIA”); the effect of changes to the mortgage insurance rules, including government
guarantee mortgage eligibility rules and provincial housing initiatives; and the Company’s beliefs as to housing demand and home price
appreciation, key macroeconomic factors, unemployment rates; as well as the Company’s future operating and financial results, sales
expectations regarding premiums written, capital expenditure plans, dividend policy and the ability to execute on its future operating, investing
and financial strategies, the Canadian housing market, and other statements that are not historical facts. These forward-looking statements
may be identified by their use of words such as “may”, “would”, “could”, “will,” “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”,
“estimate”, “expect”, and similar expressions. These statements are based on the Company’s current assumptions, including assumptions
regarding economic, global, political, business, competitive, market and regulatory matters. These forward-looking statements are inherently
subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the ability of the Company to control or
predict. The Company’s actual results may differ materially from those expressed or implied by such forward-looking statements, including as
a result of changes in the facts underlying the Company’s assumptions, and the other risks described in the Company’s most recently issued
Annual Information Form, Short Form Base Shelf Prospectus, Management’s Discussion and Analysis and all documents incorporated by
reference in such documents. Management’s current views regarding the Company’s financial outlook are stated as of the date hereof and
may not be appropriate for other purposes. Other than as required by applicable laws, the Company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
To supplement its financial statements, the Company uses select non-IFRS financial measures. Such non-IFRS financial measures include net
operating income, operating earnings per common share (basic), operating earnings per common share (diluted), operating return on equity,
insurance in-force, new insurance written, loss ratio, expense ratio, combined ratio, investment yield, and Minimum Capital Test (MCT). The
Company believes that these non-IFRS financial measures provide meaningful supplemental information regarding its performance and may
be useful to investors because they allow for greater transparency with respect to key metrics used by management in its financial and
operational decision making. Non-IFRS measures do not have standardized meanings and are unlikely to be comparable to any similar
measures presented by other companies. These measures are defined in the Company’s glossary, which is posted on the Company’s website
at http://investor.genworthmicanada.ca. A reconciliation from non-IFRS financial measures to the most readily comparable measures
calculated in accordance with IFRS, where applicable, can be found in the Company’s most recent Management’s Discussion and Analysis,
which is posted on the Company’s website and is also available at www.sedar.com.
3. 3Genworth MI Canada Inc.Q3 2018 Results
3Q18 financial results
Operating EPS ($, diluted) Book Value Per Share ($, diluted, incl. AOCI)
$42.04 $43.13 $43.77 $44.40 $45.00
Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
+7%
Y/Y
1. MCT denotes ratio for operating insurance company. Company estimate as at Sept. 30th, 2018.
Note: Amounts may not total due to rounding.
• Total premiums written decreased modestly Y/Y largely
due to a smaller transactional market size and a lower
portfolio insurance average premium rate
• Low loss ratio of 14% reflects a stable macroeconomic
climate and strong portfolio quality
• Net operating income up Q/Q, primarily due to higher
operating investment income
• Ongoing capital strength with MCT ratio of 171%1
• Book value per share growth of 7% Y/Y
1.23
1.33 1.31 1.31
1.35
Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
$MM except loss ratio,
Op. ROE, Op. EPS &
MCT ratio
Q3
2018
Q2
2018
Q3
2017
Q / Q Y / Y
Premiums written $196 $172 $202 +14% -3%
Premiums earned $169 $171 $170 -1% Flat
Loss ratio 14% 14% 13% Flat Flat
Net income $128 $116 $140 +10% -8%
Net operating income $121 $117 $112 +3% +8%
Operating ROE 12% 12% 12% Flat Flat
Operating EPS (dil.) $1.35 $1.31 $1.23 +3% +10%
MCT ratio1 171% 170% 165% +1 pt +6 pts
Q3 key highlights
4. 4Genworth MI Canada Inc.Q3 2018 Results
Our environment today
Risk Assessment
Economic
Housing &
mortgage
markets
Insurance
portfolio
Regulatory
Key observations
▪ Sound economic environment; GDP forecast growth of 2.1%1 in ‘18 & 2.1%1 in ‘19
▪ Unemployment rate near record low; rising wages in most provinces
▪ BoC overnight rate increased to 1.75% in October; 3-4 more expected in 2019
▪ USMCA agreed to in principle reducing uncertainty for exports and investment
▪ Affordability pressure impacting market size
▪ GTA market trending toward more normalized state
▪ Provincial regulations in B.C. starting to slow demand, housing risk measures
expected to improve over next two quarters
▪ Montreal shifting to a strong “sellers” market; housing risk remains modest
▪ Portfolio quality remains strong. Average credit score for transactional new
insurance written was 748 in Q3’18
▪ New insurance written with stacked risk factors2 remains low
▪ Compliance qualifying rate provides ~200bps buffer against payment shock from
rising rates
▪ Regulatory environment supporting reduced product risk and strong underwriting
practices
▪ Regulatory focus shifting to supply and affordability
▪ Finalized Mortgage Insurer Capital Adequacy Test (MICAT) starting in 2019
SOUND MACROECONOMIC ENVIRONMENT
1. BoC GDP forecast: Monetary Policy Report, October 2018.
2. Stacked risk factors defined as: Purchase only; 90%+ LTV and <=660 credit score, and >40 TDSR.
3. Average GDS based on contractual rate.
5. 5Genworth MI Canada Inc.Q3 2018 Results
Regional risk assessment
Stable economic forecast for most
regions
House price gains expected to be modest in
the near-term amid rising interest rates
Housingrisk
Economic risk
Key Indicators
▪ Overvaluation
▪ Affordability
▪ Price-to-
income
▪ Price-to-rent
▪ Supply/
demand
Key Metrics: GDP Forecast; UE Rate; Economic Diversity
Denotes change from Q2’18
Quarterly Snapshot TOR VAN MTL CGY CANADA
Q3’18 Q/Q Teranet HPI 1 2.2% 0.9% 2.8% 0.3% 1.9%
Q3‘18 UE Rate 1 6.1% 4.5% 6.1% 8.2% 5.9%
Low High
High
GTAGVA
Quebec
Alberta
Atlantic
Ontario
(ex GTA)
Prairies
Pacific
(ex GVA)
HousingRisk
Economic Risk
Size of circle reflects regional
total risk-in-force
1 HPI and UE based on quarterly averages (Calgary UE uses a three-month rolling exit).
Graph based on Company’s estimates of housing and economic risk as at Q3’18, including regional GDP forecast as per BoC/major FIs and key housing indicators at the
end of Q3’18.
6. 6Genworth MI Canada Inc.Q3 2018 Results
$1.2
$1.1
$1.1
$0.8
$0.8
$0.9
2017 2018
$3.0 $3.2
$5.0 $4.8
$5.6 $5.5
$4.5
2017 2018
$38
$6
$8
$5
$6
$4
$7
2017 2018
Top line
New insurance written ($ billions) Premiums written ($ millions)
Note: Company sources. Amounts may not total due to rounding.
Q1
Q2
Q3
Q4
Transactional insurance highlights
• NIW decreased modestly Y/Y on a smaller originations
market size, but increased significantly Q/Q primarily due to
typical seasonality
• Premiums written decreased Y/Y by 1% primarily due to
lower new insurance written; and increased Q/Q primarily
due to typical seasonality
Transactional Portfolio
$89 $109
$161 $166
$195
$192
$157
2017 2018
Q1
Q2
Q3
Q4
Transactional Portfolio
Average premium rate (YTD)
3.31% 3.49%
$13.4 $602
$60
Average premium rate (YTD)
0.45% 0.49%
Portfolio insurance highlights
• NIW was relatively consistent with the prior year period, but
decreased modestly from the prior quarter
• Premiums written was lower than the prior year period and
prior quarter primarily due to a lower average premium rate
as a result of a higher proportion of insured mortgages with
LTVs below 75% and improved credit scores
$18.2
$10.5
$13.4
$3.1
$468
$15
7. 7Genworth MI Canada Inc.Q3 2018 Results
Strong portfolio quality
1.0%
0.4%
'10
'11
'12
'13
'14
'15
'16
Q1'17
Q2'17
Q3'17
Q4'17
Q1'18
Q2'18
Q3'18
$284
$296
$301
$304
$315
$322
$324
$328
$317
$332
$332
$342
$323
$336
'10
'11
'12
'13
'14
'15
'16
Q1'17
Q2'17
Q3'17
Q4'17
Q1'18
Q2'18
Q3'18
CONTINUED PORTFOLIO QUALITY STRENGTH
1 Company sources for transactional new insurance written. Average score for all borrowers. 2 Company sources for transactional new insurance written. Purchase only.
3 Stacked risk factors: Purchase only; 90%+ LTV and <=660 credit score, and Contractual TDSR >40%. 4 FTHB represents First Time Homebuyers. 5. Statistics Canada
Highlights
Credit score1 Stacked risk factors3
Credit quality remains
very strong
Relatively stable average
home prices in most
regions for FTHBs4 given
modest growth in
household income5
Limited exposure to
loans with stacked risk
factors (low credit
scores and high debt
service ratios)
Average home price2
(In ‘$000s)
9.8%
2.4%
727
748
'10
'11
'12
'13
'14
'15
'16
Q1'17
Q2'17
Q3'17
Q4'17
Q1'18
Q2'18
Q3'18
% Score <660 Avg score Q2 reflects typical
increase in QC
business mix
8. 8Genworth MI Canada Inc.Q3 2018 Results
Year-to-date performance
• Transactional premiums written were lower by 1%
Y/Y, reflecting a marginally smaller MI market
• Premiums earned consistent Y/Y and down 1%
sequentially reflecting seasoning of recent books of
business
• Losses on claims relatively consistent Y/Y
• Operating investment income was $10 million higher
than the prior year period primarily due to increased
invested assets and realized income from interest
rate hedging (~$6 million)
• Net operating income modestly higher Q/Q, primarily
due to higher operating investment income
• Book value per share up 7% Y/Y to $45.00
Company sources. Note: Amounts may not total due to rounding. 1. Includes realized income from the interest rate hedging program, excl. realized gains / losses.
$MM except EPS & BVPS Q3’18 Q2’18 Q3’17
Transactional premiums written $192 $166 $195
Portfolio premiums written 4 5 6
Total premiums written $196 $172 $202
Premiums earned 169 171 170
Losses on claims (23) (25) (23)
Expenses (32) (33) (34)
Underwriting income $114 $114 $113
Operating investment income1 54 51 44
Net operating income $121 $117 $112
Net income $128 $116 $140
Operating EPS
(diluted)
$1.35 $1.31 $1.23
Book value per share
(diluted, incl. AOCI)
$45.00 $44.40 $42.04
Strong financial performance
($MM)
Q3’18
YTD
Q3’17
YTD
%
change
Net income $371 $396 -6%
Net operating income $358 $345 +4%
Operating EPS $3.95 $3.76 +5%
Q3 highlights
9. 9Genworth MI Canada Inc.Q3 2018 Results
Delinquency trends
New delinquencies, net of cures, by regionOutstanding delinquencies
263 276 283 298 278
130 122 102 96 103
520 496 492 510 512
427 374 370 368 349
214 226 230 229 206
205 224 246 241 247
Q3'17 Q4'17 Q1'18 Q2'18 Q3'18
Ontario
Pacific2
Alberta
Quebec
Atlantic
Prairies1
Total
Delinquency rate based on reported outstanding balances3
Q3’17 Q4’17 Q1’18 Q2’18 Q3’18
Transactional 0.29% 0.28% 0.28% 0.28% 0.27%
Portfolio 0.07% 0.08% 0.08% 0.08% 0.09%
Total 0.18% 0.18% 0.18% 0.19% 0.18%
43 47 43 38 17
15
107 112 112 134
125
100 51 80
73
82
70
80
78 67
47
25 53
58 45
42
Q3'17 Q4'17 Q1'18 Q2'18 Q3'18
Ontario
Pacific2
Alberta
Quebec
Atlantic
Prairies1
Total
Loss ratio 13% 9% 13% 14% 14%
Q/Q
∆
-3
-20
+9
-9
+12
-21
• Lower net new delinquencies Q/Q reflecting
decreases in Ontario and the Atlantic region
• Strong overall loss ratio performance reflects
favourable macroeconomic environment and
high quality portfolio
• Loss ratio range for 2018: 10% - 20%
Company sources. 1 Prairies include MB and SK. 2 Pacific includes B.C. and the Territories. 3 Delinquency rates are based on the Company’s reported outstanding insured
mortgage balances as at the end of the quarter and exclude delinquencies that have been incurred but not reported.
1,759 1,718 1,723 1,742 337 346
365 360
1,695 328
10. 10Genworth MI Canada Inc.Q3 2018 Results
Solid underwriting profitability
113 121 117 114 114
34
34 32 33 32
23 15 22 25 23
Q3' 17 Q4' 17 Q1' 18 Q2' 18 Q3' 18
Underwriting profitability ($ millions)
Net underwriting
income
Expenses
Losses on claims
Loss ratio 13% 9% 13% 14% 14%
Expense ratio 20% 20% 19% 19% 19%
Combined
ratio
33% 29% 32% 33% 32%
Avg. reserve
per delq. ($000s)
$74.5 $69.2 $68.2 $67.7 $67.8
New delqs.
net of cures
337 346 365 360 328
Premiums earned $171$170 $171 $171 $169
Highlights
• Flat-to-modest Y/Y increase expected for the full
year in premiums earned; after growing by 6% in
2017
• Trend of relatively low loss ratios ranging from
9% to 14% over the past 5 quarters reflect
favourable economic conditions and strong
portfolio quality
• 2018 full year loss ratio expected range remains
10% to 20%, driven primarily by the favourable
macroeconomic environment and strong
portfolio quality
Company sources. Amounts may not total due to rounding.
11. 11Genworth MI Canada Inc.Q3 2018 Results
Investments contribute steady
income
Note: Company sources.
1. Represents market value, includes accrued investment income and other receivables and net derivative financial instruments. 2. Investment yield represents pre-tax
equivalent book yield after dividend gross-up of portfolio (as at Sept. 30th, 2018). 3. Includes CLOs. 4. Cash includes short-term investments. 5. Floating rate reflects the
anticipated range of the average for the three months ended Dec. 31st, 2018 based on management’s estimate of the forward curve as at Oct. 18th, 2018; fixed rate represents
the contract rates for our existing portfolio of interest rate swaps as at Sept. 30th, 2018.
EXPECT MODERATELY HIGHER INVESTMENT INCOME IN 2018 INCLUSIVE OF
FAVOURABLE CONTRIBUTION FROM INTEREST RATE HEDGING PROGRAM
31%
13%
36%
9%
7%
4%
$44 $50
$44 $51
$44
$54
$50
2017 2018
Federals
Provincials
Preferred shares
Emerging markets debt
Investment grade
corporates3
Cash & other4
Duration: 3.7 years
Book yield: 3.2%2
Investments
(C$ millions, unless noted)
Total investments and net derivative assets
($6.6B1) Interest rate hedge program
$113 million of
bond maturities
remaining in 2018 Q3 investment yield2
3.1% 3.2%
$182
Q3 2017 Q3 2018
Operating Investment Income
(excluding realized/unrealized gains, $ millions)
Interest rate swaps Forward curve5
Notional (C$B) $3.5
Floating rate5 2.00% - 2.20%
Fixed rate5 1.17%
Spread ~0.80% - 1.00%
Potential impact on
2018 full year operating
investment income
$22MM - $24MM
$6.3B $6.4B
Investments: $6.4B
Q1
Q2
Q3
Q4
$155
12. 12Genworth MI Canada Inc.Q3 2018 Results
Capital management
Note: Company sources. MCT / MICAT denotes ratio for operating insurance company. *Totals may not add due to rounding. MICAT/MCT estimates as at Sept. 30th, 2018.
1. Represents liquid investments and cash held in addition to capital in operating insurance company.
Highlights
▪ Strong capital position with MCT ratio of
~171% and holding company cash and
liquid investments of $101 million
▪ Executed $50 million share buyback in
3Q18
▪ Increased credit facility from $200 million to
$300 million in October 2018
▪ Based on the Company’s assessment, the
Company believes total regulatory capital
requirements should be lower vs. the
existing framework, and this may permit
capital re-deployment of $500-700 million
in 2019, in addition to regular ordinary
dividends
Current MCT
Sept. 30, 2018 Jun. 30, 2018
Capital available 4,356 4,316
Capital required 2,542 2,536
MCT ratio 171% 170%
Internal MCT target 157% 157%
Holdco cash1 ~$101 million ~$133 million
Regulatory capital as at Sept. 30th, 2018
(by category, $ millions unless otherwise noted)*
2019 Mortgage Insurer Capital Adequacy Test
▪ 2019 Mortgage Insurer Capital Adequacy Test
(“MICAT”) eliminates the updating of credit scores for
2015 and prior books and increases the base total
asset requirement for insurance risk by 5%
▪ Changes are net positive to capital required in 2019
13. 13Genworth MI Canada Inc.Q3 2018 Results
Strategic priorities for 2018
BUILDING ON SOLID BUSINESS FUNDAMENTALS
1
Invest in
process
innovation and
technology to
drive improved
customer
experience
4
Maintain an
efficient capital
structure to
ensure capital
strength while
maximizing
ROE
3
Leverage our
data and
mortgage
expertise to
influence our
regulatory
environment
2
Continue to
exercise prudent
risk
management
and proactive
loss mitigation
14. 14Genworth MI Canada Inc.Q3 2018 Results
investor@genworth.cominvestor.genworthmicanada.ca
Investor Relations
Jonathan A. Pinto, MBA, LL.M
Vice President, Investor Relations
jonathan.pinto@genworth.com905.287.5482