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    Colin Devine

    Research Analyst at C. Devine & Associates

    Colin Devine is Principal of C. Devine & Associates, specializing in strategic advisory services for the insurance and investment management sectors with a focus on life insurance, InsurTech, and retirement solutions. Renowned for his extensive industry experience, he has covered major life insurers and worked with prominent organizations on de-risking, corporate development, and regulatory matters, achieving top Institutional Investor rankings for 10 consecutive years as a sell-side analyst at Smith Barney/Citigroup. Devine began his career as a Director at Standard & Poor’s Insurance Ratings group and was a Vice President at a Canadian life insurer before launching his consultancy, and he currently serves as a Research Fellow with the Alliance for Lifetime Income and Operating Partner at Health Catalyst Capital. He holds the Chartered Financial Analyst, Chartered Professional Accountant, and Certified Financial Planner designations, along with an MBA in Finance from Schulich School of Business.

    Colin Devine's questions to GENWORTH FINANCIAL (GNW) leadership

    Colin Devine's questions to GENWORTH FINANCIAL (GNW) leadership • Q2 2025

    Question

    Colin Devine of C. Devine & Associates asked for more details on the LTC recapture, including the size of the policy and the nature of the gain. He also sought clarification on whether new LTC products are being written out of legacy companies or the new CareScout Insurance entity and its ownership structure.

    Answer

    Executive VP & CFO Jerome Upton explained the recapture related to a favorable arbitration with Blue Cross Blue Shield of Nebraska, resulting in a $26 million pre-tax gain from a $50 million GAAP reserve. President, CEO & Director Thomas McInerney clarified that all new LTC products are issued by the new CareScout Insurance Company, which was redomiciled to Virginia and is owned directly by the holding company, separate from the legacy life insurance company chain.

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