HLI 1.23% $4.00 helia group limited

From GMA’s 2019 annual report:3.6 DividendsAccounting policyA...

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    From GMA’s 2019 annual report:
    3.6 Dividends
    Accounting policy
    A provision for dividends is made in respect of ordinary shares when dividends have been declared on or before the reporting date but have not yet been distributed at that date.
    (a) Restrictions that may limit the payment of dividends
    There are currently no restrictions on the payment of dividends by the Company other than:
    • the provisions of section 254T of the Corporations Act 2001 and the Company’s constitution.
    • the payment of dividends is generally limited to profits subject to ongoing solvency obligations noting that, under the APRA Level 2 Group supervision requirements, the Company is required to obtain approval from APRA before payment of dividends on ordinary shares that exceeds the Group’s after tax earnings as defined by APRA.

    from GMA’s 1H20 result:
    Statutory NPAT of $90.0 million loss includes the $127.3 million DAC write-down (after tax) at 31 March 2020 and the COVID-19 $24.9 million (after-tax) increase in loss reserves.

    From GMA’s 3Q20 result:
    Statutory NPAT of $24.6 million (3Q19: $25.1 million) largely attributable to higher net claims incurred and lower investment income partially offset by higher net earned premium and lower deferred acquisition costs (DAC) amortisation. YTD Statutory NPAT of $65.4 million loss (YTD 3Q19: $113.2 million profit).

    From GNW’s 3Q20 earnings call:
    “Our Australia MI business reported adjusted operating income of $7 million up from $1 million in the prior quarter and down from $12 million in the prior year. Capital levels remained strong with approximately AUD300 million above management targets.”
    “In response to continued uncertainty in the macroeconomic environment, we are preserving capital in Genworth's mortgage insurance subsidiaries, and therefore, we do not expect to receive further dividends from the mortgage insurance businesses in 2020.”
 
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