Genworth Financial Inc. (NYSE: GNW) gained 1.23% after releasing operating statistics associated with the mortgage insurance portfolio for its wholly-owned subsidiary Enact Holdings Inc. Enact was formerly known as Genworth Mortgage Holdings Inc. April and May 2021.
Genworth to post Enact monthly reports
The released statistics include new delinquencies, total primary delinquencies, claims paid, and cures. The report will be available through the Genworth Investor site on the Enact section. Moving forward, the company plans to post the report monthly to support Enact’s ongoing business operations.
The Fortune 500 that focuses on helping people realize their dreams of owning a home postponed a previously announced IPO of Enact Holdings. CEO Tom McInerney said that Genworth’s Board of Directors determined that current market pricing for the anticipated IPO does not reflect Enact’s value following the recent trading volatility in the mortgage insurance (MI) sector. He added that the company postponed the IPO and will now focus on evaluating options as market conditions develop.
Genworth shareholders re-elect the nominated board of directors.
Recently the company announced that all nine directors nominated for election at its 2021 annual shareholder meeting were elected. Karen E. Dyson, G. Kent Conrad, Melina E. Higgins, Jill R. Goodman, Thomas J. McInerney, Debra J. Perry, Howard D. Mills, III, Robert P. Restrepo Jr., and Ramsey D. Smith were re-elected to the board. Melina E. Higgins was elected as the Non-Executive Board of Directors chair following the 2021 annual meeting of stockholders.
The advisory vote on named executive remuneration and the 2021 Genworth Financial, Inc. Omnibus Incentive Plan were both adopted during the shareholder convention. Stockholders also approved KPMG LLP as the company’s independent certified public accounting firm for the year 2021.