Genworth Mortgage Insurance Australia Ltd (ASX:GMA)

APAC company
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Market Info - GMA

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Company Info - GMA

  • Market CapAUD0.000m
  • SymbolASX:GMA
  • IndustryFinancial Services
  • SectorInsurance - Specialty
  • Currency
  • ISINAU000000GMA5

Company Profile

Genworth Mortgage Insurance Australia listed on the Australian Securities Exchange in 2014 after its U.S.-based parent, Genworth Financial Inc. (NYSE: GNW), sold down its stake. It has since exited. With a history spanning over 50 years, Genworth Australia is a provider of lenders' mortgage insurance, or LMI, in Australia. In Australia, LMI is predominantly purchased on loans with a loan/value ratio, or LVR, above 80%. LMI protects a lender against a potential loss (gap) between the outstanding loan amount and sale proceeds on a delinquent loan property. LMI does not protect the borrower, however the premium is paid by the borrower. It’s regulated by the Australian Prudential Regulation Authority, or APRA, which requires it to meet minimum regulatory capital requirements.Genworth Mortgage Insurance Australia Ltd is a provider of mortgage insurance and credit enhancement product solutions in Australia.

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