May 1, 2018 / 10:36 PM / 22 days ago

BRIEF-Genworth Mortgage Insurance Posts Q1 Underlying NPAT Of $19.9 Mln, Down 70.9 Pct

May 2 (Reuters) - Genworth Mortgage Insurance Australia Ltd :

* QTRLY REPORTED NPAT $8.4 MILLION VERSUS $52.2 MILLION

* QTRLY NET EARNED PREMIUM $67.4 MILLION VERSUS $107.9 MILLION

* QTRLY REPORTED LOSS RATIO 55.9 PERCENT VERSUS 34.8 PERCENT

* COMPANY’S GUIDANCE PROVIDED AT TIME OF ITS FY17 RESULTS ANNOUNCEMENT REMAINS UNCHANGED

* “GWP IS EXPECTED TO INCREASE IN FY18”

* NEP AND FULL YEAR LOSS RATIO ARE EXPECTED TO BE ADVERSELY IMPACTED BY 2017 EARNINGS CURVE REVIEW IN FY18

* IN FY18, NEP EXPECTED TO DECLINE BY ABOUT 25% TO 30%

* IN 2018 CONTINUES TO TARGET AN ORDINARY DIVIDEND PAYOUT RATIO RANGE OF 50% TO 80% OF UNDERLYING NPAT

* “FULL YEAR LOSS RATIO IS EXPECTED TO BE BETWEEN 40% AND 50%” Source text for Eikon: Further company coverage:

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