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Is Genworth Financial a Winner in the Life Insurance Industry?

imageStock Markets54 minutes ago (Apr 15, 2021 03:00PM ET)

(C) Reuters. Is Genworth Financial a Winner in the Life Insurance Industry?

Shares of Genworth Financial (NYSE:GNW) have been declining over the past year despite a rising demand for life insurance. However, Wall Street expects the company’s earnings to rise in the coming months. So, will GNW’s stock soar in the near term based on its potential earnings growth? Read more to find out.Insurance provider Genworth Financial, Inc. (GNW) is a leading supplier of diversified insurance products that include long-term life insurance and mortgage insurance. While the rising demand for mortgage insurance has allowed GNW to book higher revenues, a high level of insurance policy cash-outs has increased the company’s outflow. Thus, the shares of GNW have lost 3.6% over the past year, and 6.9% year-to-date.

Ageing populations across developed economies and rising long-term costs have been increasing the demand for GNW’s products. But, with the global healthcare crisis (COVID-19 pandemic) increasing the number of insurance payouts in recent months, GNW’s growth potential looks bleak.

Here’s what we think could shape GNW’s performance in the near term:

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Is Genworth Financial a Winner in the Life Insurance Industry?

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