New insurance written and the book of business at Genworth Mortgage Insurance Corp. both expanded last year.
Losses from continuing operations before taxes
at the parent company were $56 million in the final three months of last year.
That statistic, along with other operational and finance performance metrics, were reported by Genworth
Financial Inc.
Losses were cut from $125 million in the third quarter and were slashed from $203 million in the fourth quarter of 2015.
Within just the U.S. mortgage insurance segment, income fell to $95 million in the fourth-quarter 2016 from $102 million three months earlier but was up from $64 million in the last-three months of 2015.
From Oct. 1, 2016, through year-end 2016, Genworth wrote $11.1 billion in new insurance. Business eased from $12.8
billion in the third-quarter but accelerated from $7.8 billion in the fourth-quarter 2015.
Full-year new insurance written increased to $42.7 billion in 2016 from $31.6 billion the previous year.
On the flow portion of its business, refinance share was
24 percent in the fourth-quarter 2016, wider than 18 percent three months earlier.
Genworth had U.S. primary mortgage insurance in force on
699,841 loans for $137.5 billion. The book expanded from 686,789 loans for $133.7 billion as of Sept. 30, 2016, and 651,668 loans for $122.4 billion as of year-end 2015.
Delinquency
was reduced to 3.67 percent as of the latest date from 3.76 percent a the end of the third quarter and 4.86 percent at the end of 2015.
