[Update 1: Previous headline noted Genworth experienced its first profit in six years. In fact, the data applied specifically to its MI unit, not the parent company]
Genworth Financial’s new CEO Tom McInerney sat down with the Richmond Times-Dispatch to discuss his firm’s first quarterly profit since 2007.
The mortgage insurer, like others in the space, faced a tough post-meltdown period when slower housing activity stalled new business prospects and firms fought to maintain strong risk-to-capital ratios.
The paper says McInerney was hired after an intensive seven-month search. He sat down with reporter John Reid Blackwell to discuss Genworth’s path from here.