Short answer
GENWORTH FINANCIAL INC (GNW) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $7.3B (+0.1% year over year) and net income of $223M.
- Top risk flagged: Interest rate risk on long-term debt $750M due May 2029 and $783M with no maturities until June 2034
FY2025 key financial metrics · XBRL
- Revenue
- $7.3B
- +0.1% YoY
- Net income
- $223M
- −25.4% YoY
- EPS (diluted)
- $0.54
- −20.6% YoY
- ROE
- 2.5%
- −1.0 pp YoY
- Operating cash flow
- $327M
- +271.6% YoY
Source: XBRL data from the GENWORTH FINANCIAL INC (GNW) FY2025 10-K on SEC EDGAR. USD.
GENWORTH FINANCIAL INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: U.S. mortgage insurance focusing on insurance in-force and risk in-force metrics
- New strategic emphasis: Continued large-scale share repurchase programs totaling up to $1.1B authorized since mid-2024 to return capital to shareholders
- Competitive positioning shift: Moderate premium rate pressure balanced by flat premiums and increased net investment income from higher yields and assets
- Notable quantitative metric: Primary insurance in-force grew 2% to $273.1B; adjusted operating income decreased 5% to $558M due to reserve releases and delinquencies
- Most unusual fact: Enact Holdings’ direct involvement in multiple share repurchase agreements with Genworth Holdings to maintain ownership stake
Management Discussion & Analysis
- New insurance written $51.5B in 2025, up 1% YoY from 2024
- Loss ratio 11% in 2025 vs 4% in 2024, with $200M reserve releases in 2025 vs $252M in 2024
- Best performing: primary insurance in-force increased 2% to $4.3B; worst: loss ratio increased significantly
- Reinsurance coverage of $225M for 2025 new insurance; $260M and $170M for 2026 and 2027 respectively; 34% quota share cession for 2027
- Management notes continued economic volatility, mortgage affordability pressures easing, uncertainty from FHFA VantageScore 4.0 policy implementation
Risk Factors
- Interest rate risk on long-term debt $750M due May 2029 and $783M with no maturities until June 2034
- Exposure to equity market risk on variable annuities causing $55M increase in net liability after reinsurance as of Dec 31, 2025
- Derivatives portfolio fair value decrease of $605M from 100 bps interest rate rise requiring $555M collateral posting as of Dec 31, 2025
- Decline in equity market prices 10% causing $50M decrease in equity investment fair value as of Dec 31, 2025
Generated from the filing text; verify against the original. How to read a 10-K
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