Genworth Financial has reported a net income of $107m, or $0.22 diluted earnings per share, for the fourth quarter of 2011, compared to a net loss of $161m, or $0.33 diluted loss per share, for the same period in 2010.
The total revenues were $2.6bn for the fourth quarter of 2011, compared to $2.59bn for the same period in the previous year.
Net operating income was $86m, compared to a net operating loss of $135m for the same period a year ago.
US Life Insurance Segment earnings increased 14% to $114m, compared to $100m for the same period in the last year.
Insurance and Wealth Management Division earnings increased 12% to $145m, compared to $130m for the same period in the prior year, driven by US Life Insurance results.
Genworth Financial chairman and CEO Michael Fraizer said that fourth quarter earnings improved from the prior year driven by US Life Insurance and US Mortgage Insurance (U.S. MI) results.