Genworth in Australia
Genworth is a leading provider of Lenders Mortgage Insurance in Australia. Lenders Mortgage Insurance has been an important part of the Australian residential mortgage lending market since it was introduced by the Australian Government in 1965.
Lenders Mortgage Insurance facilitates residential mortgage lending by transferring risk from lenders to Lenders Mortgage Insurance providers, predominantly for high loan-to-value ratio residential mortgages. Genworth Australia believes the provision of Lenders Mortgage Insurance to lenders has contributed to comparatively high levels of Australian home ownership and residential mortgage loan accessibility, supporting the housing market in Australia.
Genworth Australia has commercial relationships with over 100 lenders across Australia, including three of the four major banks. Many of these relationships have spanned decades.
When you choose Genworth, you choose a team that is focused on delivering the highest levels of personalised service, whose keen ability to understand your market, drives our willingness to take a commercial approach to delivering a solution that suits your needs. Our success is founded on our total commitment to understanding our customers' business needs. We have developed a culture that enhances and looks at ways to turn them into solutions that create value.
Genworth internationally - strength in diversification
Having successfully completed its initial public offering in May 2014, Genworth Australia is now listed on the Australian Securities Exchange (ASX) and is majority owned (approximately 52%) by Genworth Financial, Inc. with the remaining (approximately 48%) owned by institutional and retail shareholders.
Genworth Financial, Inc. (Genworth Financial) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth Financial has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement – including; life insurance, long term care insurance, and financial protection coverages – and mortgage insurance that helps consumers achieve homeownership while assisting lenders in managing their risk and capital.
Genworth Financial operates through three divisions: US Life Insurance, Global Mortgage Insurance and Corporate and Other. Genworth Financial is headquartered in Richmond, Virginia, USA, and has major operations in the US, Canada and Australia. For more information click here