Genworth Financial, Inc. (NYSE:GNW) Q4 2022 Earnings Call Transcript

Brian Haendiges: Yes. I think what happens is, so we did make some minor refinements and assumptions. As I said, we didn’t make any that were big enough to change the request going forward. But when we make those changes, sometimes they have a positive effect in terms of the value that’s either already been achieved or the value that will be achieved over time. And so one of those assumptions was because we’ve seen improved behavior from regulators that, that’s likely to continue. And so that’s had a positive impact.

Operator: And ladies and gentlemen, I will now turn the call back over to Mr. McInerney for his additional or closing comments.

Thomas McInerney: Thank you very much, Jim, and thank you to all of you that joined the call today. We really appreciate it. In closing, we’re very proud of Genworth’s financial performance and the accomplishment of all the strategic objectives we’ve reviewed today. And we’re pleased to have entered 2023 with greater financial flexibility. We are well positioned to continue to return capital to shareholders while investing in growth in our CareScout set of businesses. I would like to thank Dan again for his outstanding contributions to Genworth and to also recognize our incoming CFO and CIO, Jerome Upton and Kelly Saltzgaber. They were key deputies to Dan and have been key leaders that enabled us to successfully transform Genworth and achieve our financial investment objectives.

I’m highly confident that they will continue to build on the great progress Genworth has made under Dan’s leadership. Thank you for your questions, your interest and your support. And with that, I’ll turn things back over to Jim to close the call.

Operator: Thank you, sir. Ladies and gentlemen, this does conclude Genworth Financial’s fourth quarter conference call. Thank you for your participation. At this time, the call will end.