Genworth Acquisition

CPLTC Partner Contact Info

Of these companies listed, only John Hancock is really left as a viable LTC policy for brokers to sell.

Bankers... no thanks.
Genworth... no thanks.
New York Life... left the market.
CalPERS... is only available to state employees.

The ones below that... also left the marketplace.

The CA Partnership for LTC has imploded.

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Well... that's one.

But I think the owner had more to do with it than Volvo did.


Without a doubt. Changing the oil every 3,500 miles..,I've always heard that's the single most important thing to do for a car's engine.
 
New York Life still sells LTC. They have discontinued their dividend on their LTC policies. They will keep LTC as long as the current CEO is there.
 
So, a Genworth policyholder read about the sale and she wants to buy an additional policy just in case Genworth goes under. How does everyone here feel about the likelihood that Genworth becomes insolvent and goes belly up? High likelihood? Small likelihood?

less than 1%.

current annual premium is about $2.5 billion, right?
Current claims are about $1.5 billion, right?
LTCi reserves are about $20 billion, right?
They must earn close to $1 billion on the reserves each year. Just the earnings on the reserves pays for most of the claims each year.

With that much in renewal premium and that much in reserves it would take a few decades to "run out of money".

less than 1% is incorrect.
less than .1% is more accurate.
 
originally posted by Mr_Ed

current annual premium is about $2.5 billion, right?
Current claims are about $1.5 billion, right?
LTCi reserves are about $20 billion, right?
They must earn close to $1 billion on the reserves each year. Just the earnings on the reserves pays for most of the claims each year.

With that much in renewal premium and that much in reserves it would take a few decades to "run out of money".

less than 1% is incorrect.
less than .1% is more accurate.

Pretty rich, successful & profitable company according to you.

Then please explain a few things, if you'd be so kind:

1) With all the money just sitting around (billions) what's the reason for so many rate increases (some up to 90%) almost every year for the past 8?
2) How come Genworth's stock price, which was $18.00/share 5 years ago is trading at $4.32/share today and was as low as $1.32/share within the past 12 months?
3) Home come their stock is rated a 'D' (Sell) by stock analysts?
4) How come their bonds are rated "Junk"?
5) How come their Comdex ratings are 53?

Just so many questions and as usual, I'm sure you just don't have enough time to answer them. But that's OK Scott, I think I proved my point
 
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