Genworth Mortgage Insurance (ASX:GMA) has announced its reported net profit after tax for the first half of 2018 fell by 53 per cent to $42 million compared to the same time last year.
The company’s net earned premium (NEP) decreased by 32 per cent to $143 million.
Genworth has declared a fully franked interim dividend of 8 cents per share and a special dividend of 4 cents per share.
The company says its NEP dropped due to the adverse impact of the 2017 Earnings Curve Review which had a $61 million impact. Excluding this impact NEP would be down 3.5 per cent.
Shares in Genworth Mortgage Insurance (ASX:GMA) are is trading 3.9 per cent higher to $2.79