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.
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.
- 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.
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.
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 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 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 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%.
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%.
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.
- 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.
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.
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 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 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 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%.
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 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 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.
Visa inc. q1 2016 financial results conference call presentationvisainc
Visa reported financial results for its fiscal first quarter of 2016, with the following key highlights:
- Net operating revenues increased 5% year-over-year to $3.6 billion.
- Net income was $1.9 billion, with adjusted net income of $1.7 billion.
- Payments volume grew 4% nominally to $1.3 trillion.
- The company repurchased $2 billion of stock and expects full year revenue growth in the high single to low double digits range.
- Discover Financial reported first quarter 2017 financial results, with diluted EPS of $1.43, up 6% year-over-year. Revenue grew 5% to $2.3 billion due to an 8% increase in net interest income, partially offset by higher rewards expense. Credit performance remained stable compared to historical levels.
- Discover Financial reported a 31% increase in diluted EPS of $1.14 for the fourth quarter of 2015 compared to the prior year. Revenue increased 8% to $2.2 billion, though was down slightly excluding a one-time charge from 2014. The provision for loan losses rose 6% due to a larger reserve build. Expenses were flat as higher professional fees in 2015 offset one-time charges in 2014.
- For the full year 2015, revenue increased 3% while EPS grew 5% compared to 2014. Loan growth and strong credit performance contributed to results, though expenses grew due to investments in compliance. The company will focus on loan growth, expense management, and capital deployment in 2016 to continue delivering
- 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.
Genworth MI Canada Inc. reported its financial results for the first quarter of 2014. Net operating income increased 7% year-over-year to $91 million. The loss ratio was 20% and the expense ratio was 19%, leading to a combined ratio of 39%. The minimum capital test ratio remained strong at 229%. Genworth also announced a 15% average premium rate increase effective May 1, 2014 and successfully extended its debt maturity profile.
May 4th 2016 investor relations presentationXOGroup
This document provides an overview of XO Group Inc., including its strategic transformation, leadership team, financial performance, and outlook. Key points include: XO Group is transforming its business under new leadership to focus on its #1 online wedding brand and growing baby brand, with the goal of achieving double digit revenue growth and 20% adjusted EBITDA margins. In Q1 2016, revenue grew 9% year-over-year and transactions revenue increased 83%, driven by strong registry and commerce results.
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.
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.
- Phillips 66 Partners LP owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines and terminals and other midstream assets.
- PSXP has a balanced portfolio of assets with long-term, fee-based contracts providing stable cash flows. Recent acquisitions and organic growth projects will further expand the portfolio.
- PSXP is targeting 30% annual distribution growth through 2018 while maintaining investment grade credit ratings and annual distribution coverage of at least 1.1x.
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.
Rossi Residencial reported its 3Q13 and 9M13 operational and financial results. Operationally, new launches totaled R$665 million in 3Q13, in line with the company's strategic plan to focus on more profitable metropolitan regions. Gross sales were R$616 million in 3Q13. Financially, net revenue was R$492 million in 9M13, while adjusted EBITDA was R$405 million. The company generated R$199 million in operational cash flow excluding interest in 9M13.
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
- Q3 2014 highlights include strong performance in Canada driven by continued momentum with financial card partners and the refreshed Aeroplan program. EMEA growth slowed due to coalition programs.
- Gross billings increased 9.8% in Q3 driven by growth in Canada and proprietary loyalty businesses, offset by declines in US and APAC.
- Adjusted EBITDA was $63.9 million in Q3. Free cash flow before dividends was $56.3 million.
- 2014 guidance is confirmed with expected gross billings growth between 7-9% and adjusted EBITDA margin of approximately 12%.
- Discover Financial reported a 5% increase in diluted EPS to $1.35 for Q1 2016. Revenue net of interest expense grew 2% to $2.2 billion, as loan growth offset the lack of mortgage income. Provision for loan losses increased 9% due to a higher reserve build. Expenses grew 1% as increases in compliance costs offset reductions from exiting mortgage origination. Credit quality improved with net charge-offs up 3% and delinquency rates mostly stable.
11 05-15 Third Quarter 2015 Financial Review FinalAES_BigSky
The document provides an overview of AES Corporation's third quarter 2015 financial results and outlook. Key points include:
- Q3 2015 adjusted EPS increased slightly to $0.39 per share due to higher contributions from strategic business units, partly offset by foreign currency impacts.
- Proportional free cash flow increased to $621 million in Q3 2015, driven by gains in the Andes and Brazil regions.
- For 2016, AES expects proportional free cash flow of $1.125-1.475 billion and adjusted EPS of $1.05-1.15 per share, with average annual growth of at least 10% through 2018.
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.
This document summarizes Cisco's Q3 Fiscal Year 2016 conference call. Some key points:
- Cisco delivered 3% year-over-year revenue growth to $12 billion despite an uncertain macro environment, with strength in security, collaboration, and next generation data center.
- Non-GAAP earnings per share grew 6% year-over-year. Cisco generated over $3 billion in operating cash flow and returned nearly $2 billion to shareholders.
- Momentum continues in key areas like security, collaboration, and transitioning revenue to recurring software and subscription models.
- Cisco provided financial guidance for Q4 FY2016, with projections for further revenue growth and earnings per share.
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.
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 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 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 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.
Visa inc. q1 2016 financial results conference call presentationvisainc
Visa reported financial results for its fiscal first quarter of 2016, with the following key highlights:
- Net operating revenues increased 5% year-over-year to $3.6 billion.
- Net income was $1.9 billion, with adjusted net income of $1.7 billion.
- Payments volume grew 4% nominally to $1.3 trillion.
- The company repurchased $2 billion of stock and expects full year revenue growth in the high single to low double digits range.
- Discover Financial reported first quarter 2017 financial results, with diluted EPS of $1.43, up 6% year-over-year. Revenue grew 5% to $2.3 billion due to an 8% increase in net interest income, partially offset by higher rewards expense. Credit performance remained stable compared to historical levels.
- Discover Financial reported a 31% increase in diluted EPS of $1.14 for the fourth quarter of 2015 compared to the prior year. Revenue increased 8% to $2.2 billion, though was down slightly excluding a one-time charge from 2014. The provision for loan losses rose 6% due to a larger reserve build. Expenses were flat as higher professional fees in 2015 offset one-time charges in 2014.
- For the full year 2015, revenue increased 3% while EPS grew 5% compared to 2014. Loan growth and strong credit performance contributed to results, though expenses grew due to investments in compliance. The company will focus on loan growth, expense management, and capital deployment in 2016 to continue delivering
- 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.
Genworth MI Canada Inc. reported its financial results for the first quarter of 2014. Net operating income increased 7% year-over-year to $91 million. The loss ratio was 20% and the expense ratio was 19%, leading to a combined ratio of 39%. The minimum capital test ratio remained strong at 229%. Genworth also announced a 15% average premium rate increase effective May 1, 2014 and successfully extended its debt maturity profile.
May 4th 2016 investor relations presentationXOGroup
This document provides an overview of XO Group Inc., including its strategic transformation, leadership team, financial performance, and outlook. Key points include: XO Group is transforming its business under new leadership to focus on its #1 online wedding brand and growing baby brand, with the goal of achieving double digit revenue growth and 20% adjusted EBITDA margins. In Q1 2016, revenue grew 9% year-over-year and transactions revenue increased 83%, driven by strong registry and commerce results.
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.
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.
- Phillips 66 Partners LP owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines and terminals and other midstream assets.
- PSXP has a balanced portfolio of assets with long-term, fee-based contracts providing stable cash flows. Recent acquisitions and organic growth projects will further expand the portfolio.
- PSXP is targeting 30% annual distribution growth through 2018 while maintaining investment grade credit ratings and annual distribution coverage of at least 1.1x.
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.
Rossi Residencial reported its 3Q13 and 9M13 operational and financial results. Operationally, new launches totaled R$665 million in 3Q13, in line with the company's strategic plan to focus on more profitable metropolitan regions. Gross sales were R$616 million in 3Q13. Financially, net revenue was R$492 million in 9M13, while adjusted EBITDA was R$405 million. The company generated R$199 million in operational cash flow excluding interest in 9M13.
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
- Q3 2014 highlights include strong performance in Canada driven by continued momentum with financial card partners and the refreshed Aeroplan program. EMEA growth slowed due to coalition programs.
- Gross billings increased 9.8% in Q3 driven by growth in Canada and proprietary loyalty businesses, offset by declines in US and APAC.
- Adjusted EBITDA was $63.9 million in Q3. Free cash flow before dividends was $56.3 million.
- 2014 guidance is confirmed with expected gross billings growth between 7-9% and adjusted EBITDA margin of approximately 12%.
- Discover Financial reported a 5% increase in diluted EPS to $1.35 for Q1 2016. Revenue net of interest expense grew 2% to $2.2 billion, as loan growth offset the lack of mortgage income. Provision for loan losses increased 9% due to a higher reserve build. Expenses grew 1% as increases in compliance costs offset reductions from exiting mortgage origination. Credit quality improved with net charge-offs up 3% and delinquency rates mostly stable.
11 05-15 Third Quarter 2015 Financial Review FinalAES_BigSky
The document provides an overview of AES Corporation's third quarter 2015 financial results and outlook. Key points include:
- Q3 2015 adjusted EPS increased slightly to $0.39 per share due to higher contributions from strategic business units, partly offset by foreign currency impacts.
- Proportional free cash flow increased to $621 million in Q3 2015, driven by gains in the Andes and Brazil regions.
- For 2016, AES expects proportional free cash flow of $1.125-1.475 billion and adjusted EPS of $1.05-1.15 per share, with average annual growth of at least 10% through 2018.
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.
This document summarizes Cisco's Q3 Fiscal Year 2016 conference call. Some key points:
- Cisco delivered 3% year-over-year revenue growth to $12 billion despite an uncertain macro environment, with strength in security, collaboration, and next generation data center.
- Non-GAAP earnings per share grew 6% year-over-year. Cisco generated over $3 billion in operating cash flow and returned nearly $2 billion to shareholders.
- Momentum continues in key areas like security, collaboration, and transitioning revenue to recurring software and subscription models.
- Cisco provided financial guidance for Q4 FY2016, with projections for further revenue growth and earnings per share.
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.
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 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 results for the first quarter of 2013. Key highlights include:
- Net operating income of $85 million, up 12% from Q1 2012.
- Operating return on equity of 12%, consistent with prior year.
- $84 million in new mortgage premiums written in the quarter.
- Mortgage delinquency rates remained low across regions.
- Capital position remains strong at 216% of minimum requirements.
- 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.
Q3 2012 Genworth MI Canada, Inc. Earnings Conference Callgenworth_financial
Genworth MI Canada Inc. reported solid third quarter 2012 results, with net operating income of $81 million. The company saw top line growth driven by high loan-to-value mortgage volumes. The loss ratio improved to 30% due to regional delinquency improvements. The company also increased its common dividend by 10% and maintains a strong capital base with a Minimum Capital Test ratio of 164%.
Genworth MI Canada Inc. - Investor Presentation May/June 2013genworth_financial
1) Genworth MI Canada Inc. reported solid results for the first quarter of 2013, with net operating income of $85 million, an operating return on equity of 12%, and operating earnings per share of $0.86.
2) The company wrote $84 million in new mortgage insurance premiums in Q1 2013 and maintained a strong capital position with a minimum capital test ratio of 216%.
3) The company has a high quality investment portfolio of $5.3 billion with 49% invested in federal and provincial bonds and a pre-tax yield of 3.7%.
Presentation des resultats financiers du troisieme trimestregenworth_financial
Genworth MI Canada Inc. reported solid third quarter 2012 results, with net operating income of $81 million and a return on equity of 12%. The company saw top line growth driven by high loan-to-value mortgage volumes. The loss ratio improved to 30% due to regional delinquency improvements and a stabilizing Alberta housing market. The company also increased its common dividend by 10% and maintains a strong capital base with a Minimum Capital Test ratio of 164%.
Genworth MI Canada Investor Presentation September 2014genworth_financial
This document provides an overview and summary of Genworth MI Canada Inc. It begins with forward-looking statements and an explanation of non-IFRS financial measures used. The summary then covers Genworth's business overview, solid financial performance in the first half of 2014, strategic priorities of prudently growing market position while managing risk, and key takeaways about Genworth's leading position and track record of profitability in the Canadian mortgage insurance market.
This document provides an overview and financial results for Genworth MI Canada Inc. for the second quarter of 2013. Some key highlights include:
- 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%.
The document discusses computer memory and storage devices. It defines memory as the space for temporarily storing data and information. Primary memory (RAM and ROM) is directly connected to the CPU, while secondary storage devices like hard disks, floppy disks, CDs, DVDs, and tapes are used to permanently store data. RAM is volatile and requires power, while ROM is non-volatile and can only be read from. Common units for measuring memory are bits, bytes, kilobytes, megabytes, and gigabytes. The document then describes different types of primary and secondary storage devices and their characteristics.
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.
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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.
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- 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
Data refers to raw facts without context, while information is data that has been processed, organized, and analyzed to add context and value. A navigation system takes raw map and location data as input and transforms it into useful information for drivers by computing shortest paths, finding nearby points of interest, and outputting directions and maps with visualizations. The feedback is the user's current location, and controls allow the user to change the destination, zoom level, or route to help the system achieve its goal of providing navigation assistance.
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- Revenue increased 2.5% year-over-year to $419.4 million driven by 16% growth in the Americas region.
- Adjusted EBITDA grew 5.6% year-over-year to $48.8 million with margins expanding 30 basis points to 11.6%.
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Atento provided its second quarter results for fiscal year 2016, highlighting growth, profitability, and liquidary priorities. Revenue declined slightly on a constant currency basis due to macroeconomic pressures in Brazil, though growth in the Americas nearly offset this. Adjusted EBITDA increased slightly with margins stable at 12%. Free cash flow before interest was strong at $39.4 million due to working capital improvements. Atento reaffirmed full year 2016 guidance and remains focused on balancing growth, profits, and reducing debt levels.
- 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 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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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.
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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.
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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 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 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.
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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.
Genworth MI Canada Inc. reported increased profitability in Q3 2013 compared to Q3 2012. Net operating income was up 12% to $91 million and operating EPS was up 15% to $0.94. Premiums written were $161 million, down 9% from last year due to slower housing activity. The loss ratio improved to 22% from 30% last year. The investment portfolio remains high quality at $5.3 billion with a pre-tax yield of 3.7%. The MCT ratio remains strong at 218% and the company repurchased $55 million in shares. Overall, the company demonstrated stable performance with improving underwriting results.
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 2015 Results
February 5th, 2016
Fourth Quarter 2015 Results
2. 2Genworth MI Canada Inc.Q4 2015 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 Company’s future operating and financial results, expectations
regarding premiums written, losses on claims and investment income, 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 control of the Company. 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 Annual Information Form dated March 23, 2015, its Short
Form Base Shelf Prospectus dated June 18, 2014, the Prospectus Supplements thereto, its most recently issued 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. Non-IFRS financial measures
include net operating income, interest and dividend income (net of investment expenses), operating earnings per common share
(basic), operating earnings per common share (diluted), shareholders’ equity excluding accumulated other comprehensive income
(“AOCI”), operating return on equity and underwriting ratios such as loss ratio, expense ratio and combined ratio. 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 2015 Results
2015 financial results
$MM except
ROE, EPS &
MCT
Q4
2015
Q / Q Y / Y 2015 Y / Y
Premiums
written
$213 -18% +20% $809 +26%
Loss ratio 23% +2 pts -3 pts 21% +1 pt
Operating
Income
$95 +3% +14% $375 +3%
Operating ROE 12% Flat +1% 12% Flat
Operating EPS
(dil.)
$1.03 +3% +16% $4.05 +5%
MCT1 233% +5 pts +5 pts 233% +5 pts
2015 key highlights
• Strong 2015 top line growth of +26% Y/Y
• Loss ratio of 21%, at lower end of stated range
• Operating income +3% and Op. EPS +5% Y/Y
• Consistent ROE performance at 12%
• Ongoing capital strength with MCT ratio at 233%1
• Book value per share2 growth of 5%
Operating EPS (diluted)
0.96 1.03
1.04 0.99
0.97 1.00
0.89 1.03
2014 2015
Q1
Q2
Q3
$3.86 $4.05
Book Value Per Share (diluted, incl. AOCI)
35.02
36.07 36.18 36.14 36.82
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015
+5%
YoY
Q4
+5%
YoY
1. Year end MCT based on company estimates. Actual year-end MCT for 2014 was 225%, pro-forma under 2015 guidelines was 228%.
2. Book value per share, diluted, including AOCI.
4. 4Genworth MI Canada Inc.Q4 2015 Results
2015 key accomplishments
PROVEN BUSINESS MODEL .... WELL POSITIONED GOING INTO 2016
Strong but prudent
top line growth
High quality and
diversified insurance
portfolio, with a strong
risk culture1
21% loss ratio at lower
end of stated range
~34%
Current
market
share CREDIT
SCORE
20% to 30% range
Note: Company sources
1. Average credit score for 2015 volumes.
25%
25% cumulative price
increases since 2013
translate into earnings
tailwinds
Credit score
743
5. 5Genworth MI Canada Inc.Q4 2015 Results
2016 key themes
• New standardized
capital test for mortgage
insurers
• More risk sensitive
• Increased capital on
new business if
regional house price
to income threshold is
exceeded
• 2017 implementation
• Regulatory rule change
may reduce demand for
portfolio insurance
Regulatory changesEconomic environment
• Modestly smaller
mortgage originations
market
• Fiscally disciplined
first-time homebuyers
• Minimal impact from
downpayment rule
changes
• Focus on underwriting
quality throughout the
lending industry
Market dynamics
• Moderately lower total
premiums written
• Flat to modestly
lower transactional
premiums written
• Lower portfolio
insurance volumes
• Moderate growth of
5%+ expected in
premiums earned
• Loss ratio range for
2016 of 25% to 40%
• MCT ratio to remain
modestly above 220%
Implications
• Low oil prices
• Modest economic
growth (GDP)
• Slowing house price
appreciation
• Consumer
indebtedness and
regional affordability
pressures
6. 6Genworth MI Canada Inc.Q4 2015 Results
Regional risk assessment
Prudent underwriting
actions in Alberta &
Saskatchewan
Monitoring
housing risk in
GTA and GVA
Balanced risk
profile in
Quebec
and Ontario
Note: Based on Company estimates.
Housingrisk
Economic riskLow High
High
GTA
GVA
Quebec
Alberta
Atlantic
Ontario
(ex GTA)
Prairies
Key Metrics
Price-to-income
Affordability
Price-to-rent
Key Metrics: GDP; UE Rate; Economic diversity
Pacific
(ex GVA)
7. 7Genworth MI Canada Inc.Q4 2015 Results
Portfolio quality improving
NATIONAL PORTFOLIO QUALITY SIGNIFICANTLY IMPROVED COMPARED TO ‘07/08
Note: Company sources for transactional new insurance written.
2015 highlights
Credit score Average gross debt service ratio (%)
Steady credit score
improvement year-over-year
Modest home
price increases
Stable debt
servicing ratios
Median home price (In ‘$000s)
16%
5%
716
743
'07
'08
'09
'10
'11
'12
'13
'14
'15
% Score <660 (R) Avg score (L)
24%
23%
22%
24%
25%
24%
23%
24%
24%
'07
'08
'09
'10
'11
'12
'13
'14
'15
$225
$232
$240
$255
$270
$275
$280
$291
$295
'07
'08
'09
'10
'11
'12
'13
'14
'15
8. 8Genworth MI Canada Inc.Q4 2015 Results
Outstanding delinquencies
Highlights
• Delinquencies up 7% Q/Q, primarily reflecting
seasonality
• Increases in Alberta, Quebec & Ontario
partially offset by a decrease in BC
• Delinquencies decreased in Ontario & B.C. Y/Y
• Delinquency rates relatively stable over the past
year395 407 344 365 385
271 263
228 203 181
222 220
227 258 303
569 584
579 578
624
207 216
191 198
204
92 102
97 113
132
Q4'14 Q1'15 Q2'15 Q3'15 Q4'15
1,756 1,792
1,666
1,715
1,829
Ontario
BC2
Alberta
Quebec
Atlantic
Prairies1
Based on reported outstanding balances
Delinquency Rates3 Q1’15 Q2’15 Q3’15 Q4’154
Transactional 0.31% 0.29% 0.29% n.a.
Portfolio 0.08% 0.07% 0.08% n.a.
Total 0.22% 0.20% 0.21% n.a.
1 Prairies include MB and SK. 2 BC includes the Territories. 3 Delinquency rates are based on outstanding insured mortgages as at the end of the quarter and exclude
delinquencies that have been incurred but not reported. 4 Outstanding mortgage insured balances are reported on a one quarter lag.
9. 9Genworth MI Canada Inc.Q4 2015 Results
2016 annual loss ratio expectations
MIC loss ratio1 & CBA delinquency rates1,2
2016 ANNUAL LOSS RATIO ESTIMATED RANGE: 25% TO 40%
0%
10%
20%
30%
40%
50%
60%
70%
80%
0.0%
0.1%
0.2%
0.3%
0.4%
0.5%
0.6%
0.7%
0.8%
0.9%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015*
Canada loss ratio - MIC (RS)
2016 Loss
Ratio Range
Alberta delq.
rate (CBA) (LS)
Canada delq.
rate (CBA) (LS)
1 Source: Canadian Bankers Association (CBA, annual averages) and Company sources.
2 2009 excludes the impact of the change to the premium recognition curve in 1Q’09
3 Based on Company’s estimate of outstanding balance of insured mortgages as at September 30, 2015 of $184B.
* CBA delinquency rates as of Q3 2015.
Alberta National
Unemployment rate 7.8 to 9.0% 7.4 to 8.0%
Home price appreciation (depreciation) (8) to (12)% 1 to (3)%
Assumptions for
loss ratio range
47%
50%
67%
71%
76%
81%
87%
91%
40%
50%
60%
70%
80%
90%
100%
Portfolio <=2009 2010 2011 2012 2013 2014 2015
Portfolio 2015
Effective Loan-to-Value by Book Year
National, as at September 30, 2015
> 20% Equity
O/S Insured Mortgage
Balances3 ($B)
Transactional Segment
$67 $24 $10 $13 $15 $16 $20 $18
Transactional
10. 10Genworth MI Canada Inc.Q4 2015 Results
Solid financial performance
$MM except EPS & BVPS Q4’15 Q3’15 Q4’14
Transactional premiums written $181 $236 $165
Portfolio premiums written 32 24 13
Total premiums written $213 $260 $178
Premiums earned 151 148 143
Losses on claims (35) (31) (37)
Expenses (27) (28) (30)
Underwriting income $90 $89 $76
Net investment income
(excl. realized gains / losses)
44 42 43
Net operating income $95 $92 $84
Operating EPS
(diluted)
$1.03 $1.00 $0.89
Book value per share
(diluted, incl. AOCI)
$36.82 $36.14 $35.02
Q4 highlights
• Transactional premiums written higher by
10% Y/Y primarily due to premium rate
increases
• Premiums Earned increased by 3% Q/Q
and 6% Y/Y as a result of the larger
recent books and price increases
• Loss ratio of 23%, up 2 pts Q/Q consistent
with typical seasonality, and emerging
Alberta pressure, but down 3 pts Y/Y
• Net investment income modestly higher
Q/Q primarily due to higher invested
assets
• Net operating income modestly higher
Q/Q
• Book value per share up 5% Y/Y
11. 11Genworth MI Canada Inc.Q4 2015 Results
Transactional insurance
$19.5
$3.1 $3.9
$5.4
$6.8
$7.4
$8.3
$6.2
$6.2
2013 2014 2015
+$2.6B
+$3.1B
SOLID BUSINESS FUNDAMENTALS; FLAT TO MODESTLY LOWER
PREMIUMS WRITTEN FROM TRANSACTIONAL INSURANCE IN 2016
New insurance written ($ billions)
+$148M
Net premiums written ($ millions)
+$110M
Note: Company sources.
$19.5
$22.1
$25.2
Q1
Q2
Q3
Q4
$447
$71 $104
$129
$183
$192
$236
$165
$181
2013 2014 2015
$447
$557
$705
Price = ~$43M
Vol. = ~$67M
Price = ~$67M
Vol. = ~$81M
2015
average
premium
rates
2.90%
2.83%
2.71%
2.65%Q1
Q2
Q3
Q4
2015 highlights 2016 outlook
Average market share increase of ~4 percentage
points in 2015; modestly larger origination market
Maintain market share in a
modestly smaller origination
market
Average premium rate
should be marginally
higher than 2.90%
2.29% 2.51% 2.79%
Average
premium rate
12. 12Genworth MI Canada Inc.Q4 2015 Results
Portfolio insurance
+$4.6B
+$18M
New insurance written ($ billions) Net premiums written ($ millions)
PORTFOLIO INSURANCE IS A KEY PART OF VALUE PROPOSITION
Note: Company sources.
+$5.7B
$15
$20
$6
$4
$6
$10
2013 2014 2015
+$21M
$65
$13
$26
$32
$22
$25 $24
$13
$32
2013 2014 2015
Q1
Q2
Q3
Q4
Avg. score
Avg. LTV
756 750 756
63% 62% 65%
2015 highlights 2016 outlook
Large wins
at banks
Leveraging proprietary
risk models to drive
portfolio quality
Q1
Q2
Q3
Q4
$26
Regulatory rule change expected to moderate demand in 2H16 as
portfolio insurance could be limited to mortgages backing gov’t MBS
$82
$104
14. 14Genworth MI Canada Inc.Q4 2015 Results
Solid underwriting profitability
76 87 90 89 90
30
24 29 28 27
37 31 25 31 35
Q4' 14 Q1' 15 Q2' 15 Q3' 15 Q4' 15
Underwriting profitability ($ millions)
Underwriting
profit
Expenses
Losses on claims
Loss ratio 26% 22% 17% 21% 23%
Expense ratio 21% 17% 20% 19% 18%
Combined
ratio
47% 39% 37% 40% 41%
New
delinquencies
net of cures
489 432 319 440 487
Highlights
• 2015 loss ratio of 21% at lower
end of stated range of 20 to 30%
• New delinquencies net of cures
modestly higher, primarily due to
Quebec and Alberta
• Expense ratio of 18% in line with
management expectations
• Loss mitigation programs continue
to be effective
Premiums earned $143 $151$143 $144 $148
2016 ANNUAL LOSS RATIO ESTIMATED RANGE: 25% TO 40%
15. 15Genworth MI Canada Inc.Q4 2015 Results
Fed. Agency / NHA MBS
Federal bonds
Preferred shares
Emerging markets debt2
Investment grade
corporates3
Provincials
5%
29%
17%
33%
5%
7%
4%
$4,000
4Q14 4Q15
Investments contribute steady
income
$5.9B portfolio1
Duration: 3.7 years1
Book yield: 3.1%1
Growth in invested assets
(C$ millions)
Note: Company sources.
1. Represents market value. Book yield represents pre-tax equivalent book yield after dividend gross-up of portfolio (as at Dec. 31, 2015).
2. 98% investment grade. 3. Market value, includes CLOs.
Total Invested Assets
Cash
2015 highlights
89% of portfolio is high-quality fixed
income
Limited energy exposure
6% of portfolio
2016 outlook
Impact of low rate environment
should be largely offset by growth in
invested assets
Investment Income ($ millions)
$172 $165
$6
$8
$22 $32
2014 2015
$195
$201
Net Investment Gains
Dividends
Interest
$5,443
$474
or 9%
$5,917
16. 16Genworth MI Canada Inc.Q4 2015 Results
Capital management
INTEND TO OPERATE MODESTLY ABOVE THE 220% MCT HOLDING TARGET IN 2016
Capital required at 220% MCT ($ millions)1Transactional new insurance written ($ billions)
$3,159
$3,329
$3,432
$38
$116
$200
2013 Jan. 1/15 4Q15
Holdco cash2 $85M $143M $121M
MCT ratio 223% 228% 233%
$3,197
$3,632
+$248M
+$187M
Flexibility Efficiency
Strength
Note: Company sources.
1. MCT denotes ratio for operating insurance company. 4Q15 MCT based on company estimates.
2. Represents capital in addition to capital in operating insurance company.
$19.5
$22.1
$25.2
2013 2014 2015
+$2.6B
+$3.1B Excess
capital over
220%
Capital at
220%
2016 outlook
Maintain holdco cash and liquid securities above
$100 million
New capital test under development for 2017 will be more risk
sensitive and will include additional capital for new business if
regional home price to income threshold is exceeded
$3,445
(pro-forma)
17. 17Genworth MI Canada Inc.Q4 2015 Results
Key takeaways
Proven
business model
has positioned
MIC for
future
performance
Market share retention
Navigating 2016 with a keen
focus on risk management
Proactive loss mitigation
programs
Investing in our customer
experience strategy
18. 18Genworth MI Canada Inc.Q4 2015 Results
investor@genworth.cominvestor.genworthmicanada.ca
Investor Relations
Jonathan A. Pinto, MBA, LL.M
Vice President, Investor Relations
jonathan.pinto@genworth.com905.287.5482