Helia Group Ltd
HLI: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$5.00 | Chs | Swfsrfz |
Corporate Action: Same Business, New Name, Vote in Favour of Genworth Name Change
Strong demand for lenders mortgage insurance in 2020-21 continues to benefit Genworth Mortgage Insurance's earnings, but the tailwind is subsiding. Net earned premium, or NEP, in the third quarter was down 8% on the quarterly average of the first half, with new policies, which drive future revenues, down a much more material 27%. The tailwind of nonexistent claims continues, but we expect this to end in fiscal 2023 as higher cash rates increase mortgage stress.