AI assistant
HELIA GROUP LIMITED — Interim / Quarterly Report 2021
Oct 27, 2021
65056_rns_2021-10-27_bc3013b9-8dc5-4464-bc28-ffad4af8652f.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
==> picture [580 x 107] intentionally omitted <==
3Q21 APRA General Insurance Institution Level Statistics
28 October 2021 : Genworth Mortgage Insurance Australia Limited ( Genworth or the Company ), notes that it has finalised the submission of data in relation to the three months ended 30 September 2021 to the Australian Prudential Regulation Authority ( APRA ) today.
The data submitted to APRA is expected to be included in the General Insurance Institution‐Level Statistics ( GIILS ) for the September quarter and is currently scheduled to be published by APRA on 25 November.
The GIILS include data on two licenced general insurance entities which are both 100% owned subsidiaries of Genworth, being Genworth Financial Mortgage Insurance Pty Limited and Genworth Financial Mortgage Indemnity Limited which is in run‐off.
The GIILS do not provide a consolidated view of Genworth or its subsidiaries, have not been externally reviewed or audited, and do not embrace a full review of claims reserving nor any associated adjustments to the earnings curve.
The data submitted to APRA for Genworth Financial Mortgage Insurance Pty Limited included the following:
| 3Q21 | Year to Date | |
|---|---|---|
| 30 Sep‐21 | ||
| Gross written premium (GWP) ($m) | 138.9 | 428.6 |
| Net earned premium (NEP) ($m) | 97.6 | 268.3 |
| Net incurred claims ($m)1 | (27.6) | 21.9 |
| Underwriting result ($m) | 103.6 | 192.8 |
| Insurance result ($m) | 108.7 | 181.7 |
| Net profit/(loss) after tax (NPAT) ($m) | 79.7 | 140.4 |
| Prescribed capital amount coverage ratio (x) | 1.87 |
Genworth Chief Executive Officer Pauline Blight‐Johnston said, “Genworth continued to deliver Lenders Mortgage Insurance (LMI) flow growth with strong underwriting quality in 3Q21, benefitting from the ongoing participation of owner occupiers and first home buyers in the High Loan to Value (LVR) mortgage origination market, and above system growth from key lender customers. There was a benefit from net incurred claims in the quarter, as dwelling values rose further and delinquencies continued to be low.”
1 Net incurred claims during the quarter were negative driven by a release of reserves.
Page 1 of 2
==> picture [580 x 107] intentionally omitted <==
Genworth expects to release its full year results for the period ending 31 December 2021 on 25 February 2022.
For more information, analysts, investors and other interested parties should contact:
Investors :
Media :
Paul O’Sullivan Alexandra Crowley Head of Investor Relations Corporate Communications Manager M: +61 499 088 640 M: +61 459 967 747
The release of this announcement was authorised by the Disclosure Committee.
About Genworth
Genworth Mortgage Insurance Australia Limited (Genworth), through its subsidiary companies Genworth Financial Mortgage Insurance Pty Ltd and Genworth Financial Mortgage Indemnity Ltd (together, the Genworth Group or the Group), is the leading provider of Lenders Mortgage Insurance (LMI) in the Australian residential mortgage lending market. The Genworth Group has been part of the Australian residential mortgage lending market for over 50 years since the Housing Loans Insurance Corporation was founded by the Australian Government in 1965 to provide LMI in Australia.
Page 2 of 2