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Douglas Smith

Research Analyst at Everest Group

Dallas, TX, US

Douglas Smith is Chairman at Everest Group, leveraging a diverse background in private equity, mergers and acquisitions, and operations across multiple industries including retail, manufacturing, and technology. He has overseen and led companies such as Hirsh Industries, Blocksom & Company, and Certes Networks, though he does not serve in a traditional analyst role or provide company-specific research and performance metrics. Smith founded Vanguard Investment Company in 1983 and previously held positions at Warburg, Paribas, and Becker, bringing decades of executive and board-level expertise. He holds a Bachelor of Science in Industrial Engineering from Northwestern University and an MBA with distinction from Harvard Business School.

Douglas Smith's questions to GENWORTH FINANCIAL (GNW) leadership

Question · Q3 2024

Douglas Smith of Everest Group asked about the financial reporting of CareScout, its current P&L impact on the parent company, and the corporate structure for its future insurance products.

Answer

CFO Jerome Upton explained that CareScout's $35 million investment is reported within the 'Corporate and Other' segment and its revenues are currently minimal. President and CEO Thomas McInerney confirmed a future CareScout insurance business would be a new sister entity, outside the existing ring-fenced life companies. Upton also highlighted the expected $1B-$1.5B in long-term claim savings for GLIC from CareScout.

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