Genworth Financial has reported a net income of $76m, or $0.16 diluted earnings per share, for the second quarter of 2012, compared to a net loss of $136m, or $0.28 diluted loss per share, for the same period in 2011.
The total revenues were $2.52bn for the second quarter of 2012, compared to $2.65bn for the same period in the previous year.
Net operating income for the quarter was $80m, or $0.16 per diluted share, compared to a net operating loss of $113m, or $0.23 per diluted share, for the same period a year ago.
Insurance and Wealth Management Division’s net operating income declined to $79m for the quarter, compared to $138m for the same period last year.
Life insurance net operating income was $30m for the quarter, compared to $57m for the same period prior year.
Genworth acting CEO and CFO Martin Klein said, "Total net operating income increased both year over year and sequentially, with substantial improvement in Global Mortgage Insurance results partly offset by declines in Insurance and Wealth Management."