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Q1 2019 Genworth Mortgage Insurance Australia Ltd Earnings Call Transcript

May 01, 2019 / 12:30AM GMT
Release Date Price: A$2.47 (+3.35%)
Operator

Ladies and gentlemen, thank you for standing by, and welcome to first quarter 2019 earnings results. (Operator Instructions)

I must advise you that this conference is being recorded today, 1st of May 2019. I would now like to hand the conference over to your first speaker today, Ms. Georgette Nicholas. Thank you. Please go ahead.

Georgette Cecelia Nicholas
Genworth Mortgage Insurance Australia Limited - CEO, MD & Director

Thank you, and good morning. Thank you for joining our CFO, Michael Bencsik, and myself this morning to discuss the 2019 first quarter results for Genworth Mortgage Insurance Australia. If we start with Slide 4 of the presentation, while moderating housing markets and tighter credit conditions continued to be prevalent in the quarter, we delivered strong results with growth in our new insurance written and continued momentum on our Strategic Program of Work.

From a financial perspective, statutory net profit after tax of $47.8 million in the first quarter was up from $8.4 million in the first quarter of last year.

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