Geez Genworth, Your Comdex Score is Now a 61

[ltcadviser]

I remember when it was a 91.

And this, my friends, is why one does not sign a captive contract with ANY company or marketing organization…..

 

[scagnt83]

https://www.youtube.com/watch?v=It7107ELQvY

 

[TwiLight]

I remember when it was a 91.

And this, my friends, is why one does not sign a captive contract with ANY company or marketing organization…..

It is all do to those cut rate LTC policies they sold over the past decade.... Now they are paying the price.

It is amazing how such a small part of their total premium can effect a company's performance....

LTC will need to be sold off from the company if they ever want to be looked at as a financially sound company again.

 

[Mr_Ed]

It is all do to those cut rate LTC policies they sold over the past decade.... Now they are paying the price.

It is amazing how such a small part of their total premium can effect a company's performance....

LTC will need to be sold off from the company if they ever want to be looked at as a financially sound company again.

It has nothing to do with the policies they've sold over the past decade.
If you read the 10k it states that they are losing money on the policies sold and acquired BEFORE 1996.

 

[Arthur Rudnick]

originally posted by Mr_Ed

It has nothing to do with the policies they've sold over the past decade.
If you read the 10k it states that they are losing money on the policies sold and acquired BEFORE 1996.

Scott,
It's just unbelievable how you keep sucking up the Kool Aid.

Here's a post from November, which everyone is still waiting for an answer on:

Regarding Genworth:
You stated:
"Their newer policy forms (2005+) are very profitable for them and they want to sell more of them".
You were asked:
" Then please explain why rate increases are being requested for policies introduced in 2012"?
Still waiting for an answer.

Also, please explain how any carrier can determine how a policy series that was only introduced 2 years ago can possibly be profitable? It will take at least a decade until policyholders start to go on claim to determine if a series is profitable or not. Every policy series in history is profitable when carriers are only taking in premiums without paying claims, which is certainly the case of policies issued in 2012.

 

[Justin Bilyj]

You can almost make 13% in income a year selling out of the money PUTS on this carrier. 1.5 std away from ITM (80%+ of probability).

If you add the calls into the equation you can have an additional 9.5%.

I'm a big fan of selling straddles (for GNW it could be around 20%), it's how I increase my yield on dividend paying stocks... (I know GNW doesn't offer dividends)

Note this isn't financial advice

 

[trustandadvice]

Genworth has been a dog forever.

 

[Tahoe Ray]

Genworth has been a dog forever.

A dog stock or dog policies?

 

[trustandadvice]

A dog stock or dog policies?

Policies are backed by the strength of the company. Total mismanagement of the balance sheet and the firm. They are inter-twined. If my dog had Genworth's face I would shave his butt and teach him to walk backwards.

Genworth was popular because it was the low price leader. Price is only an issue in the absence of value.

 

[Mr_Ed]

Policies are backed by the strength of the company. Total mismanagement of the balance sheet and the firm. They are inter-twined. If my dog had Genworth's face I would shave his butt and teach him to walk backwards.

Genworth was popular because it was the low price leader. Price is only an issue in the absence of value.

the ignorance in this post is astounding.