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 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 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 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%.
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 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 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.
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.
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%.
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 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 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%.
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 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 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.
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.
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%.
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.
- Discover Financial reported quarterly net income of $546 million, down 11% year-over-year, with revenue growth of 9% and earnings per share of $1.40.
- Loan balances grew 8% year-over-year led by credit cards and personal loans, while net interest margin expanded 17 basis points.
- Operating expenses rose just 1% despite higher loan volumes, and the company executed $2.23 billion in planned capital returns including dividend increases and share repurchases.
- Credit performance trends showed net charge-off rates increasing compared to a year ago but within expectations.
Q317 nielsen-earnings webcast-v3 10.24 post meeting (1)nielsen_holdings
Nielsen reported financial results for the third quarter of 2017. Total revenue increased 4.5% year-over-year to $1.641 billion. Net income grew 12.3% to $146 million. The Watch segment saw strong revenue growth of 9.7% driven by gains in audience measurement and marketing effectiveness. However, the Buy segment faced challenges with revenue declining 2.1% as growth in emerging markets was offset by weakness in developed markets like the US. Nielsen maintained its full-year 2017 guidance targets.
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%.
This document provides a summary of Nielsen's Q1 2017 earnings results. Key points include:
- Revenue was $1.53 billion, up 3.2% in constant currency. Watch segment revenue grew 11.1% driven by total audience and Gracenote. Buy segment revenue declined 3.7% with challenges in developed markets.
- Adjusted EBITDA was $422 million, up 4.7% in constant currency.
- Nielsen reiterated its full-year 2017 guidance.
- The company reported third quarter 2017 results on October 25, 2017
- Q3 revenue was $3.671 billion, up 3% year-over-year, with organic revenue growth of 2%
- Adjusted EPS was $1.44, up 2% year-over-year, though negatively impacted by natural disasters which reduced EPS by $0.04 to $0.05
- The company maintained its full-year 2017 guidance for revenue, adjusted EPS, free cash flow, and capital deployment
- 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.
1) The document discusses forward-looking statements and non-GAAP financial information presented by Morgan Stanley at its 5th Annual Laguna Conference on September 13, 2017.
2) It provides an overview of Ingersoll Rand, including its history, market capitalization, revenues, business segments, brands, and focus on global megatrends related to climate change, urbanization, and efficiency.
3) Ingersoll Rand has executed a consistent strategy focused on operational excellence, organic growth, dynamic capital allocation, and a winning culture, delivering top-tier revenue growth, margins, cash flow, and returns over recent years.
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.
Visa inc. q4 and fy 2017 financial results conference call presentationvisainc
- Visa reported strong fiscal fourth quarter 2017 financial results, with net income of $2.1 billion and net operating revenues increasing 14% to $4.9 billion, driven by continued growth in payments volume, cross-border volume, and processed transactions.
- Payments volume grew 24% nominally and 39% on a constant dollar basis for the quarter ended June 2017 compared to the prior year. Total cards increased 20% to over 3.1 billion.
- Operating margin was 66% for the fourth quarter of 2017 compared to 64% adjusted non-GAAP for the prior year, as operating expenses grew at a slower rate than net operating revenues.
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%.
- WestRock reported Q3 2017 results with adjusted earnings per share of $0.74 and adjusted free cash flow of $473 million.
- They achieved $94 million in productivity initiatives and expect a synergy and performance improvement run-rate of $825 million by the end of Q4 2017.
- Guidance for fiscal year 2017 includes reaffirming adjusted free cash flow of $1.2 billion and estimating capital expenditures of $750 million.
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.
Brink's 3 q 2017 earnings slides final 10242017investorsbrinks
The document provides an overview of Brink's third quarter 2017 results and strategic plan. Some key points:
- Revenue increased 13% to $829 million in Q3 2017 driven by 6% organic growth and acquisitions.
- Operating profit increased 21% to $76 million and adjusted EBITDA increased 22% to $112 million in Q3 2017.
- The company expects full year 2017 revenue of $3.18 billion, operating profit of $280-290 million, adjusted EBITDA of $425-435 million, and EPS of $3.00-3.10.
The document is Owens Corning's presentation from November 1, 2017 focused on sharing information with investors. It discusses Owens Corning's three business segments: Insulation, Roofing, and Composites. It provides an overview of the company's financial performance in recent years, including improved earnings, margins, free cash flow, and return on capital. The presentation emphasizes Owens Corning's commitment to shareholder value and disciplined capital allocation.
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.
- Nielsen reported financial results for the 4th quarter and full year 2016, with revenue of $6.3 billion for the full year, up 4.1% in constant currency.
- Adjusted EBITDA for the full year was $1.9 billion, up 5.2% in constant currency.
- The company acquired Gracenote, a provider of music, video and sports metadata, to bolster its digital content measurement capabilities.
- For 2017, Nielsen expects total revenue growth of 5-6% in constant currency and adjusted EBITDA margin to remain flat.
Owens Corning presented at various investor events in Q3 2017 to discuss their focus on shareholder value. The presentation discusses Owens Corning's three business segments and provides an overview of financial results including adjusted EBIT, margins, free cash flow, and return on capital. It highlights the company's track record of financial improvement and compelling investment thesis including leadership positions in attractive industries and a disciplined capital allocation strategy.
Meredith Corporation held an Investor Day presentation on June 6, 2017. The presentation included forward-looking statements about the Company's estimates of future performance, which are subject to risks and uncertainties. Actual results may differ materially from what is currently anticipated. The presentation outlined Meredith's balanced portfolio across its Local Media and National Media businesses, which generate strong and consistent cash flows. Meredith is committed to delivering top-third total shareholder returns through balanced capital allocation strategies like dividend increases and share repurchases.
Delta held its annual Investor Day in 2016 to review performance and strategy. The presentation discussed Delta's focus on achieving positive unit revenue growth through disciplined capacity management and revenue initiatives. Delta also aims to sustain its revenue premium over competitors by investing in products customers value and better segmenting customers. Delta leverages strong partnerships to expand its global network and access new markets.
- 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
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.
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.
- Discover Financial reported quarterly net income of $546 million, down 11% year-over-year, with revenue growth of 9% and earnings per share of $1.40.
- Loan balances grew 8% year-over-year led by credit cards and personal loans, while net interest margin expanded 17 basis points.
- Operating expenses rose just 1% despite higher loan volumes, and the company executed $2.23 billion in planned capital returns including dividend increases and share repurchases.
- Credit performance trends showed net charge-off rates increasing compared to a year ago but within expectations.
Q317 nielsen-earnings webcast-v3 10.24 post meeting (1)nielsen_holdings
Nielsen reported financial results for the third quarter of 2017. Total revenue increased 4.5% year-over-year to $1.641 billion. Net income grew 12.3% to $146 million. The Watch segment saw strong revenue growth of 9.7% driven by gains in audience measurement and marketing effectiveness. However, the Buy segment faced challenges with revenue declining 2.1% as growth in emerging markets was offset by weakness in developed markets like the US. Nielsen maintained its full-year 2017 guidance targets.
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%.
This document provides a summary of Nielsen's Q1 2017 earnings results. Key points include:
- Revenue was $1.53 billion, up 3.2% in constant currency. Watch segment revenue grew 11.1% driven by total audience and Gracenote. Buy segment revenue declined 3.7% with challenges in developed markets.
- Adjusted EBITDA was $422 million, up 4.7% in constant currency.
- Nielsen reiterated its full-year 2017 guidance.
- The company reported third quarter 2017 results on October 25, 2017
- Q3 revenue was $3.671 billion, up 3% year-over-year, with organic revenue growth of 2%
- Adjusted EPS was $1.44, up 2% year-over-year, though negatively impacted by natural disasters which reduced EPS by $0.04 to $0.05
- The company maintained its full-year 2017 guidance for revenue, adjusted EPS, free cash flow, and capital deployment
- 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.
1) The document discusses forward-looking statements and non-GAAP financial information presented by Morgan Stanley at its 5th Annual Laguna Conference on September 13, 2017.
2) It provides an overview of Ingersoll Rand, including its history, market capitalization, revenues, business segments, brands, and focus on global megatrends related to climate change, urbanization, and efficiency.
3) Ingersoll Rand has executed a consistent strategy focused on operational excellence, organic growth, dynamic capital allocation, and a winning culture, delivering top-tier revenue growth, margins, cash flow, and returns over recent years.
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.
Visa inc. q4 and fy 2017 financial results conference call presentationvisainc
- Visa reported strong fiscal fourth quarter 2017 financial results, with net income of $2.1 billion and net operating revenues increasing 14% to $4.9 billion, driven by continued growth in payments volume, cross-border volume, and processed transactions.
- Payments volume grew 24% nominally and 39% on a constant dollar basis for the quarter ended June 2017 compared to the prior year. Total cards increased 20% to over 3.1 billion.
- Operating margin was 66% for the fourth quarter of 2017 compared to 64% adjusted non-GAAP for the prior year, as operating expenses grew at a slower rate than net operating revenues.
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%.
- WestRock reported Q3 2017 results with adjusted earnings per share of $0.74 and adjusted free cash flow of $473 million.
- They achieved $94 million in productivity initiatives and expect a synergy and performance improvement run-rate of $825 million by the end of Q4 2017.
- Guidance for fiscal year 2017 includes reaffirming adjusted free cash flow of $1.2 billion and estimating capital expenditures of $750 million.
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.
Brink's 3 q 2017 earnings slides final 10242017investorsbrinks
The document provides an overview of Brink's third quarter 2017 results and strategic plan. Some key points:
- Revenue increased 13% to $829 million in Q3 2017 driven by 6% organic growth and acquisitions.
- Operating profit increased 21% to $76 million and adjusted EBITDA increased 22% to $112 million in Q3 2017.
- The company expects full year 2017 revenue of $3.18 billion, operating profit of $280-290 million, adjusted EBITDA of $425-435 million, and EPS of $3.00-3.10.
The document is Owens Corning's presentation from November 1, 2017 focused on sharing information with investors. It discusses Owens Corning's three business segments: Insulation, Roofing, and Composites. It provides an overview of the company's financial performance in recent years, including improved earnings, margins, free cash flow, and return on capital. The presentation emphasizes Owens Corning's commitment to shareholder value and disciplined capital allocation.
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.
- Nielsen reported financial results for the 4th quarter and full year 2016, with revenue of $6.3 billion for the full year, up 4.1% in constant currency.
- Adjusted EBITDA for the full year was $1.9 billion, up 5.2% in constant currency.
- The company acquired Gracenote, a provider of music, video and sports metadata, to bolster its digital content measurement capabilities.
- For 2017, Nielsen expects total revenue growth of 5-6% in constant currency and adjusted EBITDA margin to remain flat.
Owens Corning presented at various investor events in Q3 2017 to discuss their focus on shareholder value. The presentation discusses Owens Corning's three business segments and provides an overview of financial results including adjusted EBIT, margins, free cash flow, and return on capital. It highlights the company's track record of financial improvement and compelling investment thesis including leadership positions in attractive industries and a disciplined capital allocation strategy.
Meredith Corporation held an Investor Day presentation on June 6, 2017. The presentation included forward-looking statements about the Company's estimates of future performance, which are subject to risks and uncertainties. Actual results may differ materially from what is currently anticipated. The presentation outlined Meredith's balanced portfolio across its Local Media and National Media businesses, which generate strong and consistent cash flows. Meredith is committed to delivering top-third total shareholder returns through balanced capital allocation strategies like dividend increases and share repurchases.
Delta held its annual Investor Day in 2016 to review performance and strategy. The presentation discussed Delta's focus on achieving positive unit revenue growth through disciplined capacity management and revenue initiatives. Delta also aims to sustain its revenue premium over competitors by investing in products customers value and better segmenting customers. Delta leverages strong partnerships to expand its global network and access new markets.
- 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
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.
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.
Atento reported revenue growth of 5.7% in Q4 and 5.1% for the full year 2017. Revenue from multisector clients grew 8.6% in Q4 and 10.9% for the full year, increasing its percentage of total revenue. Adjusted EBITDA margins were in line with guidance at 11.5% for both Q4 and the full year. Adjusted earnings per share grew 11.4% in Q4 and 14.8% for the full year, reflecting continued revenue growth and profitability.
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.
Brink's 4 q&fy 2017 earnings slides final 02062018investorsbrinks
The document discusses Brink's financial results for the fourth quarter and full year of 2017 as well as its outlook for 2018 and 2019. Some key points:
- Revenue grew 13% in Q4 2017 and 10% for the full year, driven by 5% organic growth.
- Operating profit increased 15% in Q4 and 24% for the full year.
- 2018 guidance forecasts further growth with 8% revenue increase and operating profit rising 30-37%.
- The 2019 adjusted EBITDA target is $625 million, up from the initial 2019 target of $475 million set in 2017.
- Growth will come from organic initiatives in the U.S. and acquisitions, with a focus on
The document provides an overview of Brink's first quarter 2017 financial results and outlook. Some key points:
- Revenue increased 7% to $740 million in Q1 2017 driven by 7% organic growth.
- Operating profit increased 62% to $53 million and margins expanded from 4.7% to 7.1% in Q1 2017.
- EPS increased 84% to $0.57 in Q1 2017.
- The company raised its full-year 2017 EPS guidance to a range of $2.55 to $2.65, representing 17% growth at the midpoint.
- Brink's outlined targets for 2019 including revenue of $3.3 billion, operating profit of $325 million
The Brink's Company First Quarter 2017 Results Presentationinvestorsbrinks
The document provides an overview of Brink's first quarter 2017 financial results and outlook for 2017 and 2019. Some key points:
- Revenue increased 7% to $740 million in Q1 2017 driven by 7% organic growth.
- Operating profit increased 62% to $53 million in Q1 2017 with margins expanding from 4.7% to 7.1%.
- Full-year 2017 guidance raises revenue to $3 billion, operating profit to $235-245 million, and EPS to $2.55-2.65.
- Three-year strategic plan targets 2019 revenue of $3.3 billion, operating profit of $325 million, and EPS of $3.50, representing continued margin expansion
Brinks q1 2018 earnings slides final 04242018investorsbrinks
The document provides a summary of Brink's first quarter 2018 results. Key points include:
- Revenue increased 15% to $853 million, with 6% organic growth and 7% from acquisitions.
- Operating profit increased 34% to $72 million, with a margin of 8.4%.
- Adjusted EBITDA increased 25% to $110 million, with a margin of 12.9%.
- EPS increased 12% to $0.65.
- The company is on track to meet 2018 guidance and has set a 2019 adjusted EBITDA target of $625 million.
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.
- Masco reported strong first quarter 2017 results, with top line growth driven by its North American Plumbing segment. The company achieved 22 consecutive quarters of sales and operating profit growth.
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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
Masco Corporation reported third quarter 2017 earnings. Total revenue increased 3% year-over-year to $1.936 billion. Operating profit increased to $296 million, up $21 million from the previous year. Earnings per share for the quarter were $0.50, up 22% year-over-year. The presentation provided financial details and highlights for each of Masco's business segments, discussed progress on strategic initiatives, and updated full-year earnings guidance.
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Intact Financial Corporation is Canada's largest home, auto and business insurer, with a 10-year track record of outperforming the industry. It aims to achieve a combined ratio in the low 90s, exceed industry return on equity by 5 points, and grow net operating income per share by 10% per year over time through organic growth, margin improvement and claims management. The acquisition of OneBeacon expanded Intact's presence in attractive specialty insurance lines in the US and provides a more balanced portfolio and geographic diversification.
Masco Corporation reported second quarter 2017 earnings. Total sales increased 3% year-over-year to $2.057 billion, while operating profit rose 4% to $357 million. Plumbing sales increased 3% due to growth at Delta, Hansgrohe, and Watkins. Decorative Architectural sales grew 5% from increased pro sales at Behr and builder's hardware expansion. Windows sales increased 4% excluding foreign exchange impacts. Management updated 2017 EPS guidance to $1.93 to $2.00 per share and announced plans to increase the annual dividend.
Masco Corporation reported second quarter 2017 earnings. Total sales increased 3% year-over-year to $2.057 billion, while operating profit rose 4% to $357 million. Plumbing sales increased 3% due to growth at Delta, Hansgrohe, and Watkins. Decorative Architectural sales grew 5% from increased pro sales at Behr and builder's hardware expansion. Windows sales increased 4% excluding foreign exchange impacts. Management updated 2017 EPS guidance to $1.93 to $2.00 per share and announced plans to increase the annual dividend.
Intact Financial Corporation is Canada's largest home, auto and business insurer, with a 10-year track record of outperforming the industry. It has the largest market share in a fragmented Canadian property and casualty insurance industry. Intact aims to grow its net operating income per share by 10% per year and outperform the industry return on equity by 500 basis points annually through organic growth initiatives and acquisitions like the recent purchase of OneBeacon, which expanded Intact's U.S. presence. Intact maintains a strong financial position with excess capital and high credit ratings to support future growth opportunities.
Genworth MI Canada Inc. reported strong financial results for the second quarter of 2014. Premiums written increased 17% year-over-year to $160 million due to higher market penetration and housing activity. Net operating income grew 12% to $99 million and operating EPS increased 17% to $1.04. Losses on claims declined to $17 million as the company benefits from a high quality insurance portfolio and favorable economic conditions. The minimum capital test ratio remained well above targets at 230%.
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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This document summarizes an investor day presentation by Genworth MI Canada Inc. The presentation consisted of three panels that discussed driving core growth, proactively mitigating risk, and sustaining profitability. Some key points included that Genworth serves a market of borrowers with lower average incomes and home prices compared to the overall market. Their risk management framework helps them stay ahead of emerging risks and their loss mitigation strategy is a key differentiator. They have multiple avenues for continued top-line growth and strong underwriting profits support sustainable profitability.
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- Net operating income increased 11% year-over-year to $88 million.
- Solid financial results including a loss ratio of 25% and book value per share of $31.32.
- Premiums written were $137 million for the quarter and the number of delinquencies declined 26% year-over-year.
- The company maintained a strong capital position with a minimum capital test ratio of 216%.
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.
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1. 1Genworth MI Canada Inc.Q4 2017 Results
February 6th, 2018
Fourth Quarter 2017 Results
2. 2Genworth MI Canada Inc.Q4 2017 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 Ontario’s Fair Housing Plan; 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.Q4 2017 Results
2017 financial results
$MM except ROE,
EPS & MCT
Q4
2017
Q / Q Y / Y
FY
2017
Y / Y
Premiums written $164 -18% -4% $663 -13%
Premiums earned $171 Flat +4% $676 +6%
Loss ratio 9% -5 pts -9 pts 10% -12 pts
Net income $132 -5% -6% $528 +27%
Net operating income $121 +8% +15% $467 +20%
Operating ROE 13% +1 pt +1 pt 13% +1 pt
Operating EPS (dil.) $1.33 +9% +17% $5.09 +21%
MCT ratio1 168% +3 pts n.m.2 168% n.m.
Fourth quarter highlights:
• Loss ratio of 9%, decreased 5 pts Q/Q
• NOI of $121 MM, up 8% Q/Q
• Operating EPS of $1.33, up 9% Q/Q
Full year highlights:
• Premiums written of $663MM, decreased by 13% Y/Y
• Loss ratio of 10%, down 12 pts from the prior year
• NOI increased by 20% and Operating EPS up 21% Y/Y
• ROE of 13%, up 1 pt Y/Y
• Strong capital position with MCT ratio at 168%1
• Book value per share growth of 10% Y/Y
Operating EPS (diluted) Book Value Per Share (diluted, incl. AOCI)
$39.28
$40.42 $41.34 $42.04
$43.13
Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
+10%
Y/Y
1. MCT denotes ratio for operating insurance company. Company estimate as at Dec. 31st, 2017.
2. “n.m.” denotes not meaningful. Note: Amounts may not total due to rounding.
0.99 1.17
1.07
1.36
1.02
1.23
1.14
1.33
2016 2017
Q1
Q2
Q3
$4.23
$5.09
Q4
+21%
Y/Y
Key highlights
4. 4Genworth MI Canada Inc.Q4 2017 Results
Our environment today
Risk Assessment
Economic
Housing &
mortgage
markets
Insurance
portfolio
Regulatory
Key takeaways
Sound economic environment; forecasted GDP growth of 2.2%1 in
2018 and 1.6%1 in 2019. Unemployment rate at 40-year low2.
Positive momentum in oil producing regions
Interest rates are expected to increase in 2018
Monitoring NAFTA renegotiations
Ontario and GTA regions trending towards more normalized state
Stress test on conventional mortgages to reduce housing demand
in higher priced markets
First time homebuyer affordability still impacting HLTV market size
Strong supporting fundamentals; 1MM immigration in next 3 years3
Portfolio quality remains strong. Average credit score 746 in 2017
Regulatory environment supporting reduced product risk and
strong underwriting practices
Extremely strong mortgage loan performance
Government shifting focus to uninsured mortgage space (B-20)
OSFI capital rules impacting lender profitability and competitor
dynamics
Increasing provincial focus on housing policy initiatives
SOUND MACROECONOMIC ENVIRONMENT
1. BoC GDP forecast, Monetary Policy Report, January 2018
2. Statistics Canada
3. Multi-year strategy tabled by the Liberal Government, Nov. 2017.
5. 5Genworth MI Canada Inc.Q4 2017 Results
Regional risk assessment
Improving economic forecast for
Alberta region
Housing markets in GTA & parts of
Ontario starting to cool; soft landing
expected
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 Q3’17
Quarterly Snapshot TOR VAN MTL CGY
Q4’17 Q/Q Teranet HPI1 -4.4% 2.0% 1.2% -0.2%
December ‘17 UE Rate1 6.0% 4.1% 6.1% 7.5%
GDP 2018 Forecast2 2.5% 2.5% 2.0% 2.1%
Low High
High
GTA
GVA
Quebec
Alberta
Atlantic
Ontario
(ex GTA)
Prairies
Pacific (ex GVA)
HousingRisk
Economic Risk
Illustrates relative size of regional
transactional new insurance written
Note: Based on Company’s estimates of housing and economic risk. Regional GDP Forecast as per BoC Jan’18. Key housing indicators at the end of Q4’17
1 HPI based on Q/Q exit data; UE based on three-month rolling exit data
2 The Conference Board of Canada Economic Insights Autumn 2017
6. 6Genworth MI Canada Inc.Q4 2017 Results
$18
$38
$78
$8
$22
$6
$22
$7
2016 2017
Top line
$3.4 $3.0 $4.5
$10.5$5.8 $5.0
$25.9
$1.1
$6.9
$5.6
$6.5
$0.8
$5.1
$4.5
$4.9
$0.9
2016 2017 2016 2017
New insurance written ($ billions) Premiums written ($ millions)
Note: Company sources.
Note: Amounts may not total due to rounding.
Q1
Q2
Q3
Q4
Transactional insurance highlights
• Modest decline in full year premiums written as
premium rate increase has largely offset the impact of
a smaller market size following the introduction of a
qualifying mortgage rate stress test for insured
mortgages
• Q4 average premium rate of 3.48%, up ~19% Y/Y
Transactional Portfolio
$99 $89
$170 $161
$201 $195
$149 $157
2016 2017
$619
Q1
Q2
Q3
Q4
Transactional Portfolio
Average premium rate
2.93% 3.31%
2.92% 3.48%
$21.2
$41.9
$603
$60
Average premium rate
0.34% 0.45%
0.45% 0.81%
$140
Portfolio insurance highlights
• Lower demand for portfolio insurance as a result of the
prohibition of portfolio insurance on refinance
transactions and a substantial increase in premium
rates in response to the increase in regulatory capital
• Q4 average premium rate of 0.81%, up 80% Y/Y
$18.2
$13.4
FY
Q4
FY
Q4
7. 7Genworth MI Canada Inc.Q4 2017 Results
Transactional growth outlook
Market size
Market share
Premium rate
• Modest improvement in first
time homebuyer
participation rate
• Diversified across lenders
• Full year impact of 2017 rate
increase (~3.50% v. 3.31%)2
1
2
3
TRANSACTIONAL PREMIUMS WRITTEN EXPECTED TO BE MODESTLY HIGHER IN 2018
Transactional market participation
80%1
~17-
20%1Modestly
higher
transactional
insurance
participation1
Uninsured market
Insured market
• B-20 & provincial changes slowing home price
appreciation; partly offset by pressured affordability for
first time homebuyer due to rising rates
• More favourable mortgage rates on insured vs. uninsured
mortgages, despite a rising rate environment
• B-20 mortgage rate stress test reduces incentive to avoid
high ratio mortgage rules
Key drivers of market size growth:
2018
Impact1
+1-2%
+1-2
points
+19 bps
1. Inclusive of management estimates and/or objectives. Market size impact denotes impact on NIW.
2. Management estimate, vs. full year 2017.
8. 8Genworth MI Canada Inc.Q4 2017 Results
Strong portfolio quality
1.0%
0.3%
'10
'11
'12
'13
'14
'15
Q1'16
Q2'16
Q3'16
Q4'16
Q1'17
Q2'17
Q3'17
Q4'17
$284
$296
$301
$304
$315
$322
$327
$315
$330
$326
$328
$317
$332
$332
'10
'11
'12
'13
'14
'15
Q1'16
Q2'16
Q3'16
Q4'16
Q1'17
Q2'17
Q3'17
Q4'17
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 >40 TDSR.
4 FTHB represents First Time Homebuyers.
Highlights
Credit score1 Stacked risk factors3
Credit quality remains
very strong
Relatively stable average
home prices for FTHBs4
given modest growth in
household income
Limited exposure to
loans with stacked risk
factors
Average home price2
(In ‘$000s)
10%
3%
727
746
'10
'11
'12
'13
'14
'15
Q1'16
Q2'16
Q3'16
Q4'16
Q1'17
Q2'17
Q3'17
Q4'17
% Score <660 Avg score
9. 9Genworth MI Canada Inc.Q4 2017 Results
Strong financial performance
$MM except EPS & BVPS Q4’17 Q3’17 Q4’16
Transactional premiums written $157 $195 $149
Portfolio premiums written 7 6 22
Total premiums written $164 $202 $171
Premiums earned 171 170 164
Losses on claims (15) (23) (29)
Expenses (34) (34) (33)
Underwriting income $121 $113 $103
Net investment income
(excl. realized gains / losses)
48 45 46
Net operating income $121 $112 $105
Net income $132 $140 $140
Operating EPS
(diluted)
$1.33 $1.23 $1.14
Book value per share
(diluted, incl. AOCI)
$43.13 $42.04 $39.28
Q4 highlights
• Transactional premiums written higher by
5% Y/Y, primarily due to a higher average
premium rate, partly offset by lower NIW
• Premiums earned increased Y/Y by $6
million due to higher level of premiums
written in recent years
• Loss ratio of 9%, down 5 pts Q/Q on a
lower average reserve per delinquency due
to favourable development and a
favourable regional shift in delinquencies
• Net investment income modestly up Q/Q at
$48 million
• Net operating income up $9 million Q/Q
primarily due to lower losses on claims and
higher premiums earned
• Book value per share up 10% Y/Y to
$43.13
Company sources. Note: Amounts may not total due to rounding.
10. 10Genworth MI Canada Inc.Q4 2017 Results
Delinquency trends
Company sources. 1 Prairies include MB and SK. 2 Pacific includes B.C. and the Territories. 3 Delinquency rates are based on the Company’s reported outstanding insured
mortgage balances as at the end of the quarter and exclude delinquencies that have been incurred but not reported.
82 56
-33
43 47
13 34
10 -8
3
103 141
92
107 112
128
109
32
100 51
77
101
26
70
80
33
50
28
25 53
Q4'16 Q1'17 Q2'17 Q3'17 Q4'17
436
491
155
337 346
355 349 254 263 276
147 151
149 130 122
609 594
551 520 496
521 517
446 427 374
235 259
204 214 226
203 212
205 205 224
Q4'16 Q1'17 Q2'17 Q3'17 Q4'17
2,070 2,082
1,809 1,759 1,718
Ontario
Pacific2
Alberta
Quebec
Atlantic
Prairies1
New delinquencies, net of cures, by region
Ontario
Pacific2
Alberta
Quebec
Atlantic
Prairies1
Total
Delinquencies outstanding
Total
Loss ratio 18% 15% 3% 13% 9%
Q/Q
∆
+28
+10
-49
+5
+11
+4
• Slightly higher net new delinquencies
Q/Q reflecting modest increases across
most regions, largely offset by a
significant decrease in Quebec
• Strong overall loss ratio performance
reflects favourable macroeconomic
environment and high quality portfolio
Delinquency rate based on reported outstanding balances3
Q4’16 Q1’17 Q2’17 Q3’17 Q4’17
Transactional 0.33% 0.34% 0.29% 0.29% 0.28%
Portfolio 0.08% 0.08% 0.07% 0.07% 0.08%
Total 0.21% 0.21% 0.18% 0.18% 0.18%
11. 11Genworth MI Canada Inc.Q4 2017 Results
% contribution to 2018E
premiums earned (RS) Premiums written
($MM, LS)
Outstanding underwriting results
Underwriting profitability ($ millions)
2018 outlook
Premiums written
• Modestly higher in 2018 as transactional
premiums increase more than offset expected
decline from portfolio insurance
Premiums earned
• Flat to modestly higher premiums earned in
2018 as contributions from larger 2015 and
2016 books will largely be offset by the lower
contribution from the smaller 2017 book
Loss ratio
• 2018 full year loss ratio expected to be
15% to 25% as losses begin to normalize from
the exceptionally low levels in Ontario and BC
319 346 356 375
474
113 107 108 124
133
142 111 122
139
69
2013 2014 2015 2016 2017
Underwriting
income
Expenses
Losses on claims
Loss ratio 25% 20% 21% 22% 10%
Expense ratio 20% 19% 18% 19% 20%
Combined
ratio
44% 39% 39% 41% 30%
Premiums earned $586$573 $565 $638 $676
2018 loss ratio range assumptions
UE Rate House Prices
National1 6.0% to 6.5% 0.0% to -2.0%
Company sources. 1. Management estimate.
Net premiums written & earnings curve
Book year
663
760 809
640
512 550
0%
10%
20%
30%
0
250
500
750
1,000
2018E 2017 2016 2015 2014 2013 2012
12. 12Genworth MI Canada Inc.Q4 2017 Results
($4) $92
$6.3B $6.6B
33%
15%
33%
8%
6%
5%
$41 $45
$44 $45
$44 $45
$46 $48
2016 2017
Federals
Provincials
Preferred shares
Emerging markets debt
Investment grade
corporates3
Cash & other4
Investments contribute steady
income
Duration: 3.9 years
Book yield: 3.2%2
Investments
(C$ millions, unless noted)
Note: Company sources. 1. Represents market value of investments, includes accrued investment income and other receivables and net derivative financial instruments
related to foreign exchange and interest rate hedging programs. 2. Investment yield represents pre-tax equivalent book yield after dividend gross-up of portfolio (as at Dec.
31st, 2017). 3. Market value, includes CLOs. 4. Cash & other includes short-term investments. 5. Floating rate reflects the average for 2018 based on the forward curve as
at Feb. 2nd, 2018; fixed rate represents the contract rates for our existing portfolio of interest rate swaps as at December 31st, 2017. * May not total due to rounding.
Total investments and net derivative assets
($6.6B1) Interest rate hedge program
MODERATELY HIGHER INVESTMENT INCOME IN 2018 INCLUSIVE OF
FAVOURABLE CONTRIBUTION FROM INTEREST RATE HEDGING PROGRAM
$636 million of
bond maturities in
2018 Q4 YTD investment yield
3.2% 3.2%
Q1
Q2
Q3
Q4
$176 $182
Net Investment Income
(excluding realized/unrealized gains, $ millions)
Interest rate swaps 2018 forward curve5
Notional (C$B) $3.5
Floating rate5 1.68%
Fixed rate5 1.17%
Spread 0.51%
Potential Impact on
operating investment
income
$18MM
Q4 2016 Q4 2017
$6.3B
$6.4B
Net derivative
asset (liability)
Total invested
assets*
Investments: $6.4B
13. 13Genworth MI Canada Inc.Q4 2017 Results
~3.1
0.2 0.2
0.5 0.5
~0.4 ~0.4
Sept. 30, 2017 MCT Dec. 31, 2017 MCT estimate
Capital management
Note: Company sources. MCT denotes ratio for operating insurance company. *Totals may not add due to rounding.
1. Market risk includes interest rate, credit, equity risk, and foreign exchange risk.
2. Represents liquid investments and cash held in addition to capital in operating insurance company.
Highlights
Proactive yet prudent capital
management actions taken in 2017:
• Increased dividend by 7%
• Executed $40MM share buyback
• Increased credit facility to $200MM
Strong capital position with MCT ratio of
~168% reflects strong underlying
profitability
MCT ratio in 2018 expected to remain
above targeted operating range of
160% to 165%
Transitional capital relief for legacy
portfolio insurance and extended
amortization business expected to run
off in 1H2019
MCT ratio 165% 168%
Internal MCT
target
157% 157%
Holdco cash2 $158 million ~$155 million
Regulatory capital as at Dec. 31st, 2017
(by category, $ billions unless otherwise noted)*
Insurance Risk
Market Risk1
Operational Risk
Capital in excess of 150%
~4.2
~3.1
~4.1
14. 14Genworth MI Canada Inc.Q4 2017 Results
2018 outlook
Modestly higher premiums written driven by modest growth in MI
market size and market share coupled with higher average premium rates
Normalizing loss ratio range of 15% to 25% aided by strong portfolio
quality and stable economic conditions
Moderately higher investment income inclusive of favorable
contribution from interest rate hedging program
Flat to modestly higher premiums earned due to smaller book of
business in 2017
Operating ROE consistent with recent years of 12-13%
15. 15Genworth MI Canada Inc.Q4 2017 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
16. 16Genworth MI Canada Inc.Q4 2017 Results
investor@genworth.cominvestor.genworthmicanada.ca
Investor Relations
Jonathan A. Pinto, MBA, LL.M
Vice President, Investor Relations
jonathan.pinto@genworth.com905.287.5482