Bloomberg News

Genworth Says Sustained Low Rates to Pressure Operating Earnings

February 06, 2013

Genworth Financial Inc., the life insurer and mortgage guarantor, said sustained low interest rates could cut operating earnings by about 13 cents a share in 2015.

The reduction, which takes hedges into account, will probably be about 7 cents this year and 11 cents in 2014, according to a projection by the Richmond, Virginia-based insurer today in a presentation on its website.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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