New Genworth CEO says he is focused on operating performance, risk profile [Richmond Times-Dispatch, Va.]
|By John Reid Blackwell, Richmond Times-Dispatch, Va.|
|McClatchy-Tribune Information Services|
He also said he is focusing his time on the company's risk profile, in particular its long-term care insurance business, which he said "faces headwinds" because of a low interest rate environment and changing health care trends.
McInerney said in a statement Tuesday that he was disappointed with the results in the long-term care business, which showed narrowing profit in the fourth quarter.
In a brief interview after the conference call, McInerney said he and his wife are now living in the
McInerney previously served in leadership roles with Dutch financial services company
"As far as the (
McInerney also said he was pleased to see a housing recovery under way in
The company's U.S. mortgage insurance unit, which has been a drag on its financial performance for the past couple of years, saw operating losses narrow to
McInerney and other executives reiterated that they believe the business should return to break-even or modest profitability later this year.
Profit in the long-term care insurance business dropped to
"McInerney and his team still have plenty of work ahead of them in terms of improving the company's core life insurance and long-term care businesses,"
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