Josh Esterov's questions to Genworth Financial Inc (GNW) leadership • Q2 2025
Question
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.