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BRIEF-Genworth Mortgage Insurance Australia Posts FY Reported NPAT Of $149.2 MLN

Published 07/02/2018, 09:44 am
Updated 07/02/2018, 09:50 am
© Reuters. BRIEF-Genworth Mortgage Insurance Australia Posts FY Reported NPAT Of $149.2 MLN
HLI
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Feb 7 (Reuters) - Genworth Mortgage Insurance Australia Ltd GMA.AX :

* FY REPORTED NPAT $149.2MILLION VERSUS $203.1 MILLION A YEAR AGO

* FY GROSS WRITTEN PREMIUM $369.0 MILLION VERSUS $381.9 MILLION

* DECLARES 12CPS FULLY FRANKED FINAL DIVIDEND

* 2018 NEP IS EXPECTED TO DECLINE BY APPROXIMATELY 25% TO 30%

* EXPENSE RATIO IN FY17 WAS 29.3% COMPARED WITH 25.7% IN PRIOR YEAR

* GENWORTH CONTINUES TO TARGET AN ORDINARY DIVIDEND PAYOUT RATIO RANGE OF 50% TO 80% OF UNDERLYING NPAT FOR FY18

* HOUSING MARKET CONDITIONS ARE EXPECTED TO EASE FURTHER IN 2018

* COMPANY EXPECTS GWP TO INCREASE IN 2018

* FULL YEAR 2018 LOSS RATIO IS EXPECTED TO BE BETWEEN 40% AND 50%

* EXPECTS NATIONAL HOUSING PRICES TO BE FLAT IN 2018

* LABOUR MARKET GROWTH IS EXPECTED TO CONTINUE INTO 2018, ALBEIT AT A MORE MODERATE PACE THAN IN 2017

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