February 6, 2018 / 10:48 PM / 17 days ago

BRIEF-Genworth Mortgage Insurance Australia Posts FY Reported NPAT Of $‍149.2 MLN

Feb 7 (Reuters) - Genworth Mortgage Insurance Australia Ltd :

* FY REPORTED NPAT $‍149.2​MILLION VERSUS $203.1 MILLION A YEAR AGO

* FY GROSS WRITTEN PREMIUM $369.0​ MILLION VERSUS $381.9 MILLION

* DECLARES ‍12CPS FULLY FRANKED FINAL DIVIDEND​

* ‍2018 NEP IS EXPECTED TO DECLINE BY APPROXIMATELY 25% TO 30%​

* ‍EXPENSE RATIO IN FY17 WAS 29.3% COMPARED WITH 25.7% IN PRIOR YEAR​

* ‍GENWORTH CONTINUES TO TARGET AN ORDINARY DIVIDEND PAYOUT RATIO RANGE OF 50% TO 80% OF UNDERLYING NPAT FOR FY18​

* ‍HOUSING MARKET CONDITIONS ARE EXPECTED TO EASE FURTHER IN 2018​

* ‍COMPANY EXPECTS GWP TO INCREASE IN 2018​

* ‍FULL YEAR 2018 LOSS RATIO IS EXPECTED TO BE BETWEEN 40% AND 50%​

* EXPECTS NATIONAL HOUSING PRICES TO BE FLAT IN 2018​

* ‍LABOUR MARKET GROWTH IS EXPECTED TO CONTINUE INTO 2018, ALBEIT AT A MORE MODERATE PACE THAN IN 2017​ Source text for Eikon: Further company coverage:

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