Catalysts
Partial IPO of Enact generated $535 million for Genworth Financial, which they used to repay part of their debts, that is, $296 million of the AXA Promissory notes
Still owns 81.6% of Enact, currently valued at $2.96 billion
Rising demand for housing
Low Mortgage rate further increases demand for mortgages and consequently mortgage insurance
Asset price inflation - further increase in housing prices
Can buyback more debt, and possibly buyback shares and pay dividends
Risks
Rising mortgage rates
Emerging Housing bubble
Rising liabilities of Life Insurance Business
Most of the profits come from the US Mortgage Insurance Business
Low interest rates
Financial Analysis
