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Company News Summary

Genworth Mortgage Insurance Australia Provides Capital Policy and Capital Management Update

12 May 2022  |  08:35:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Capital Policy and Capital Management Update

Genworth Mortgage Insurance Australia provided an update on its capital management approach, including a new Board approved target capital range. The Company previously managed its Regulatory Capital Base with reference to a Board target capital range of 1.32 times to 1.44 times the Australian Prudential Regulation Authority (APRA) Prescribed Capital Amount (PCA). The Board has revised the target range to 1.40 to 1.60 times APRA's PCA. It remains committed to returning excess capital to shareholders as quickly and efficiently as possible. The current $100m on market share buy-back is expected to be largely complete by 30 June 2022, with potential for further capital returns via on market buy-backs or special dividends.

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