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Genworth Insurance blames COVID-19 for $90 million loss – NEWS.com.au
Genworth Insurance blames COVID-19 for $90 million loss
Genworth Insurance has incurred a multimillion-dollar loss, blaming the economic downturn induced by the coronavirus pandemic for its financial woes. The major provider of lenders’ mortgage insurance in Australia has booked a net loss of $90 million for the six months ending June 30, a 202.2 per cent decline compared with its 2019 interim results that posted a net profit of $88.1 million.
Genworth chief executive Pauline Blight-Johnston said the company’s liquidity remained strong despite the n…
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