Good point. I don't think your point is fully reflected in the share price yet. It is well known that insurers benefit from rising rates, but I feel in the case of Genworth, investors are cautious about what rising interest rates may mean for house prices and ultimately claims.
The June HY result will show material (paper) mark-to-market losses, but H2 should be the first half where we see those higher investment returns come through. When coupled with a continuation of subdued claims, the H2 result could be a cracker!
Onwards and upwards!
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