The Canadian PressFebruary 4, 2014 20:16
TORONTO - Genworth MI Canada Inc. (TSX: MIC), Canada's largest private insurer of residential mortgages, has reported an increase in net income in the fourth quarter.
Genworth says it earned net income of $93 million, or 98 cents per common share in the three months ended Dec. 31. That was up from $89 million, or 90 cents, in the same year-earlier period.
Net premiums written totalled $129 million, up 11 per cent over the $117 million written in the same 2012 quarter, primarily as a result of slightly higher mortgage origination volume.