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Josh Esterov

Josh Esterov

Research Analyst at CreditSights

Denver, CO, US

Josh Esterov is Head of US Insurance and Senior Director at CreditSights, where he specializes in credit research for the US Life, Property & Casualty (P&C), health, and monoline insurance sectors. He covers major insurance companies and provides thought leadership on industry trends, including the impact of private equity in insurance and evolving portfolio allocation strategies. Esterov joined CreditSights in 2013 after serving in Government Relations at MetLife, liaising with federal and state regulators, and previously earned an MBA from NYU Stern and a CFA charter. His expertise and leadership have made him a key voice on insurance sector performance, risk, and innovation.

Josh Esterov's questions to GENWORTH FINANCIAL (GNW) leadership

Question · Q2 2025

Josh Esterov of CreditSights questioned whether the receipt of the AXA litigation proceeds might prompt Genworth to recalibrate its targets for holding company liquidity or its overall level of indebtedness.

Answer

Executive VP & CFO Jerome Upton stated that while all options will be assessed, the company is already comfortable with its current holdco cash buffer and leverage, which is around 20% excluding U.S. Life. He emphasized that with strong interest coverage and a healthy balance sheet, the most likely use of proceeds will be share buybacks, given the stock's current valuation.

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Question · Q3 2024

Joshua Esterov from CreditSights sought clarification on the definition of CareScout's network 'coverage percentage,' the customer awareness strategy, and an update on GLIC's statutory reserve margin.

Answer

President and CEO Thomas McInerney explained that CareScout coverage is based on provider presence in ZIP codes and that customers are notified during the claims process, with broader marketing to follow. Jamala Arland, President and CEO of U.S. Life Insurance, confirmed that GLIC's statutory margin was in the $0.5 billion to $1 billion range at year-end 2023 and is expected to remain there.

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