and morning, Thank you, Tom, good everyone.
good Before XX with run grateful for I here Genworth, begin Genworth my people. really to my thank I'd I've and like I've had to comments quarter, on incredibly entire Tom over the GE so a the their I'm talented for had opportunities work and many with years partnership. the and team
that on financial our to my team I'm excited foundation, foundation. builds the and proud strengthening see I'm of what contributions to
for quarter. year. Now further capital strong for the excellent target liquidity We quarter, leverage, the above another to We year off returning ended investing the and while strengthened reduction balance throughout an cash significant our the lower reflecting with our sheet delivered company. shareholders. in debt capping and our Genworth growth year
should Enact we for placed of lift the on capital removing turn restrictions satisfied in conditions execution, our restrictions GSEs, the result XXXX. a these in financial successful As have of first we believe quarter which the PMIERs on the by Enact
its to for owner requirements as this a more will peers. no development since mentioned, majority be Genworth will Enact Tom and capital subject its be positive As than very Enact longer stringent
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however, settlement favorable to PCS quarter than fourth Results higher in-force the on rate as were legal new The the and reflected quarter the the smaller, in income versus periods versus lower growth also II due investment the the claims. PCS XXXX. elections policyholder actions year current in in continued settlement to settlements versus lower related I quarter well from as of the terminations impacts Earnings prior impacts and prior prior policies. benefited
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the to Slide in in million from the the assumption XX our life the benefit an million Universal $XX of operating million and after-tax prior products. $X an compared charge to year-over-year to prior an XX prior in was insurance The operating year. driver update improvement key of of the We Turning reported in $XX relative $XX annual Life year. unfavorable $XX adjusted losses million loss million of quarter and
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XX-K our this We additional will on Form month. XXXX the later details adoption LDTI in filed provide
Xx XX. million Turning holding capital on target we quarter $XX annual received ended the intercompany liquid $XXX service, of in million We the debt above in to the cash Enact assets million tax $XXX company from our with Slide and payments cash plus of of quarter. net
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of an we of our share In the million share quarter, total December million price authorized completed per $XX $XX repurchase we for repurchases executed million program. share. $XXX Through average also a $X.XX XX, of fourth of
addressable As first in for care by in Genworth's support U.S., navigation to to these forward, is to our market unique we're and the senior we think the brand. sector. the priority opportunities There services strategy about strengths is see care our the going we a growth investing other excited under large market capitalize in capital services CareScout bringing and on allocation leverage
Tom million fee-based, service offerings As invest we'll XXXX. $XX mentioned, into launching capital-light approximately in
shareholders to opportunistic capital return share to repurchases. through is priority second Our
cash shareholders. in our and level. ability position, strong and had to value given our Enact these sheet to of continue Genworth's ownership We in balance year create excellent are healthy debt an excess positioned confident well sustainable on for generate We are liquidity to and execute expect to through priorities XXXX
line for questions. up the open let's Now
