Genworth Financial Reports Q4 2025 Earnings

Mortgage insurance business Enact drives strong results, offset by losses in long-term care closed block

Published on Feb. 24, 2026

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Genworth Financial (NYSE:GNW) reported fourth-quarter 2025 net income of $2 million and adjusted operating income (AOI) of $8 million, as strong results from its majority-owned mortgage insurance business Enact were largely offset by losses in the company's long-term care (LTC) closed block. Management highlighted continued capital returns to shareholders, ongoing investment in its CareScout growth platform, and progress in long-term care in-force actions.

Why it matters

Genworth's results reflect the ongoing challenges the company faces in managing its long-term care insurance business, which has been a drag on its overall performance. However, the strong performance of its mortgage insurance unit Enact provides a counterbalance and highlights the company's efforts to diversify its operations. The company's investments in its CareScout platform also signal its focus on growing its long-term care services business.

The details

Genworth's fourth-quarter results were driven primarily by strong performance from Enact, which contributed $146 million to the company's AOI. This was partially offset by a loss of $114 million in the company's closed block, primarily from LTC. The closed block's adjusted operating loss was driven by unfavorable experience and assumption updates in the LTC business. For the full year, Genworth reported 2025 AOI of $144 million, driven by Enact, which contributed $558 million. The closed block segment posted an adjusted operating loss of $317 million for 2025, primarily due to the LTC business.

  • Genworth reported fourth-quarter 2025 results on February 24, 2026.
  • In 2025, Genworth received $407 million from Enact, which supported share repurchases and investments in CareScout.
  • Genworth repurchased $245 million of shares in 2025 and, since May 2022 through February 20, 2026, has repurchased about $828 million of stock, reducing shares outstanding by about 24%.

The players

Genworth Financial

A leading financial security company offering a broad range of insurance products, including long-term care insurance, life insurance, and mortgage insurance.

Enact

Genworth's majority-owned mortgage insurance business, which has been a strong performer for the company.

Tom McInerney

Genworth's CEO, who highlighted the company's strategic priorities, including leveraging Enact's performance, scaling CareScout, and actively managing the closed block.

Jerome Upton

Genworth's CFO, who provided details on the company's financial results, capital deployment, and outlook.

CareScout

Genworth's consumer-focused platform intended to help families understand, find, and fund the quality long-term care they need, combining services and insurance products with investment in technology and AI.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

Genworth expects to receive around $405 million from Enact in 2026 and plans to allocate $175 million to $225 million to share repurchases. The company also aims to achieve at least $25 million in CareScout Services revenue and facilitate 7,500 matches between policyholders and home care providers in 2026.

The takeaway

Genworth's results highlight the ongoing challenges the company faces in managing its long-term care insurance business, while also showcasing the strength of its mortgage insurance unit and its efforts to diversify its operations through investments in its CareScout platform. The company's focus on capital deployment and shareholder returns also demonstrates its commitment to creating value for investors.