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Genworth Mortgage Insurance Australia Provides 2022 Investor Update

16 Jun 2022  |  08:32:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: GMA 2022 Investor Update

Genworth Mortgage Insurance Australia provided 2022 investor update. The RBA's cash rate target and variable mortgage rates have begun to rise but still remain historically low. Whilst dwelling values are likely to see modest declines, strong recent price rises across 2020 and 2021 provide a healthy buffer for existing policies in force. It had a 100% success rate in retaining all existing customers with contracts up for renewal. This momentum has continued into 2022 and the Company is to note that it has renewed a further three lender customer contracts, and also won a new contract with the BOQ Group including for ME Bank, part of BOQ.

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