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More than one-third of pre-retirees give significant support to adult family members, with Gen-X carrying the heaviest load

Investors financially supporting family are depleting savings and falling further behind on retirement planning

Nearly 70% of financial professionals do not consider financial support for family as a significant risk

LANSING, Mich.–(BUSINESS WIRE)–
Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.ⁱ (NYSE: JXN), today released new research showing that helping family members financially has become a routine, recurring expense of many Americans nearing retirement, and one that can quietly erode their own financial security. The study, the sixth installment in Jackson’s Security in Retirement Series conducted in partnership with the Center for Retirement Research at Boston College, finds more than one in three pre-retirees have provided significant financial support to a family member in the past decade, and most of those who have given expect to do it again.

“Retirement plans are designed to withstand market dips, inflation and rising healthcare costs. What catches people off guard is money moving out of their own household to address other areas such as a child’s rent, a parent’s care or a sibling’s emergency,” said Glen Franklin, Assistant Vice President of Research, RIA and Lead Generation Strategy for Jackson National Life Distributors LLC (JNLD), the marketing and distribution business of Jackson. “Our research shows these commitments are not necessarily one-time events, but rather an ongoing practice. Once a client’s family support becomes a recurring obligation rather than a surprise, it belongs directly in the financial plan next to the mortgage and the car payment, not off to the side.”

Key findings from the research include:

Helping family is common, substantial and tends to repeat:

• 34% of pre-retirees surveyed gave significant financial support to an adult family member over the past 10 years, with those who gave averaging $26,311.
• Adult children were the most frequent recipients; housing, long-term care expenses and job loss were among the leading reasons for giving.
• 76% of pre-retirees who have given before expect to do so again in the next decade.
• Two-thirds of pre-retirees who covered a surprise family expense also paid for a planned one, like a wedding or a home down payment. By comparison, only 16% of investors who had not provided support for unexpected expenses provided support for anticipated needs.

Family support is associated with a meaningful gap in retirement savings:

• Pre-retirees who gave significant support had saved only 54% of what they’re on track to need for retirement, compared with 66% for pre-retiree investors who had not.
• Savings withdrawals were by far the most common funding source (59%), followed by reduced spending (32%). Nearly one in five of all investors surveyed used a credit card.
• Almost half of all investors surveyed carry revolving credit card debt, and their mortgage balances run almost $70,000 higher on average than those who did not provide support.

Gen X is carrying the heaviest load:

• 36% of Gen X investors gave significant support in the last decade, versus 29% of baby boomers, and Gen X is nearly twice as likely to give again.
• Unlike the classic image of a generation “sandwiched” between kids and parents, Gen X investors give to adult children, parents and other relatives at nearly identical rates.
• Gen X is more likely to fund the support with credit cards, loans or retirement account withdrawals, while baby boomers more often use savings or investments.
• Many Gen X investors are still in their prime earning and saving years, so money that goes to family is money that doesn’t go toward their own retirement.

Few financial plans account for it:

• Only 31% of financial professionals consider family members needing financial help a significant retirement risk for pre-retirement clients, and just 10% call planning for it “very important.”

Andrew Eschtruth, director of the Center for Retirement Research at Boston College commented that “In addition to boosting awareness of family needs for financial support, it’s equally important to help investors plan ahead for how to handle them – so they don’t end up compromising their own retirement security.”

Franklin added, “Gen X investors face a collision of financial pressures that other generations have not experienced in quite the same way. They are still building toward retirement while supporting family members on multiple fronts and doing so in ways that can quietly undermine that progress. Using a retirement account or a credit card to help a loved one does not feel like a retirement risk in the moment. But compounded over time, it becomes one. Our goal is to give financial professionals the research they need to have these conversations proactively, so that family risk is part of the retirement plan — not an afterthought to it.”

About the Study & Security in Retirement Series

The research, fielded between March 24-31, 2026, included online surveys of more than 1,000 investors between the ages of 45 to 80 – of those, this analysis included 819 respondents with investable assets between $100,000 and $2.5 million. An additional online survey of 400 financial professionals was conducted between April 29 and May 11, 2026, with respondents being client-facing financial professionals with at least 75 clients.

Jackson’s Security in Retirement Series is a multi-phase research initiative in partnership with the Center for Retirement Research at Boston College designed to provide actionable insights on key risks to retirement security. Previous studies have explored longevity risk, inflation risk, healthcare risk, market risk and policy risk.

To access the full report and additional resources from Jackson’s Security in Retirement Series, as well as other proprietary research materials developed by Jackson on topics that impact the saving and spending habits of Americans, visit www.jackson.com/researchcenter.

ABOUT JACKSON

Jackson® (NYSE: JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Through our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences, we strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.

*SQM (Service Quality Measurement Group) Call Center Awards Program for 2004 and 2006-2025. (Criteria used for Call Center World Class FCR Certification is 80% or higher of customers getting their contact resolved on the first call to the call center (FCR) for three consecutive months or more.)

Jackson® is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company® (Home Office: Lansing, Michigan) and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York).

Jackson, its distributors, and their respective representatives do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used and cannot be used for the purpose of avoiding U.S. federal, state, or local tax penalties. Tax laws are complicated and subject to change. Tax results may depend on each taxpayer’s individual set of facts and circumstances. You should rely on your own independent advisors as to any tax, accounting, or legal statements made herein.

This material should be considered educational in nature and does not take into account your particular investment objectives, financial situations, or needs, and is not intended as a recommendation, offer, or solicitation for the purchase or sale of any product, security, or investment strategy.

Annuities are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA. May not be available in all states, and state variations may apply. These products have limitations and restrictions. Discuss them with your financial professional or contact the Company for more information.

Jackson® is committed to ensuring more Americans in or nearing retirement can benefit from greater clarity and confidence in their financial futures. To better support this important goal, we have partnered with leading academic experts at the Center for Retirement Research at Boston College to launch the Jackson Security in Retirement Series. This multiphase research effort will take a comprehensive look at a range of potential threats to financial security with the goal of helping financial professionals and retirement savers more effectively identify and manage them. Jackson is not affiliated with the Center for Retirement Research at Boston College.

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Media Contact:
Amanda Chaney

mediarelations@jackson.com

Source: Jackson Financial Inc.

The post New Jackson Study Finds the “Sandwich Generation” Squeeze Comes from More Than Two Sides and It’s Quietly Draining Retirement Savings appeared first on Insurance News | InsuranceNewsNet.

LONDON–(BUSINESS WIRE)–
Canopius Group (“Canopius”, or the “Group”), a leading international specialty and P&C (re)insurer, today announces that Samsung Fire & Marine Insurance (“SFMI”) has entered into an agreement to acquire the remaining 60% stake in Canopius, alongside funds managed by global investment firm KKR, and Korea Investment Corporation (“KIC”).

The outstanding shares are being acquired from Canopius’ other existing shareholders, including Fidentia Fortuna Holdings, the controlling consortium led by global private investment firm Centerbridge Partners.

SFMI will acquire an additional 40.6% stake in Canopius out of the remaining 60%, increasing its total ownership to 80.6% through this transaction – KKR and KIC will hold 12.1% and 7.3% respectively. (The final shareholding is subject to minor adjustments at closing).

KKR intends to drive value creation and support Canopius’ continued growth by leveraging its global platform and operational, strategic, and M&A expertise.

KIC, the sovereign wealth fund of the Republic of Korea, participated in the co-investment as part of its strategic investment initiative aimed at supporting Korean companies in their global expansion.

Since its initial investment in 2019, SFMI has strengthened its strategic partnership with Canopius. SFMI increased its stake to 40% through investment in 2025, and will secure a controlling interest through this latest transaction. This agreement marks the culmination of a strategic partnership built deliberately over seven years, through greater ownership and increasing strategic and operational collaboration. With this transaction, SFMI is fully committed to preserving Canopius’ strengths, with the overall objective to create the leading global specialty insurer across Lloyd’s, the U.S. and Asia Pacific.

Munhwa (Marvin) Lee, Chief Executive Officer & President of Samsung Fire & Marine Insurance, said: “This acquisition marks a pivotal step in our journey towards becoming a truly global insurer. Building on seven years of trust between Canopius and SFMI, we will combine our strengths to solidify our position in the Lloyd’s market and pursue further global expansion, including in the US.” He added, “We will fully support Canopius, enabling both companies to succeed together while preserving its expertise and autonomy.”

Neil Robertson, Group Chief Executive Officer of Canopius Group, said: “SFMI has grown to know this business over the past seven years. They have watched, at close quarters, what we have built, and they are enticed by the exciting plans we have evolved, and they have chosen to back it in full. There is no greater compliment a partner can pay, and we are grateful for the confidence they are placing in us. What this brings Canopius is permanent capital and an owner with a long-term view; we will retain the same appetite, the same discipline and the same people alongside our clients and brokers. For everyone here this is a launch pad rather than a finish line, and I am incredibly optimistic about what we will build next. I would also like to thank Centerbridge and the other consortium partners for their support and partnership over the last few years.”

Centerbridge Partners Senior Managing Directors Ben Langworthy and Matthew Kabaker said, “It has been a privilege to support Canopius on its journey to becoming one of the world’s leading specialty underwriters. Alongside the Group’s management team and SFMI, we supported a period of substantial growth and transformation. Through strategic investment, operational enhancement and a disciplined focus on long-term value creation, Canopius has strengthened its market position, expanded its global footprint and enhanced its long-term growth prospects. Together, we helped build a stronger platform for sustained growth. We are proud of the value created during this partnership and wish the company, its management team and SFMI every success in the years ahead.”

Michael Small, Partner, Credit & Markets at KKR, said: “This transaction reflects the value of flexible, long-term capital in supporting a high-quality business with a differentiated global franchise. We look forward to supporting Canopius in its next phase of growth, drawing on KKR’s global network and deep operational and sector experience across insurance and reinsurance.”

Il Young Park, KIC CEO, said: “KIC will continue to actively participate in a diverse range of investments and seek opportunities to enhance the competitiveness of Korean industry through the overseas expansion of Korean companies.”

The transaction is subject to customary closing conditions, including required regulatory approvals.

About Canopius

Canopius is an international specialty and P&C (re)insurer. Canopius underwrites insurance products on several platforms to offer a wide range of specialty solutions. Our offices are located in Australia, Bermuda, Singapore, the UK and the U.S. We underwrite through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), a US surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer. By working together across regions, we create global insurance solutions in more than 130 countries. For more information, visit www.canopius.com or find out more via LinkedIn.

About Samsung Fire & Marine Insurance

SFMI is the leading non-life insurance company in Korea, headquartered in Seoul. In addition to property & casualty business, SFMI provides a variety of insurance products and services such as corporate pensions, annuity and health insurance. SFMI’s shares are listed on the Korea Exchange and is the largest non-life insurance company by market capitalisation as of 2025. S&P and A.M. Best have affirmed ratings of AA and A++ respectively. For more information, visit www.samsungfire.com or find out more via LinkedIn.

About Centerbridge Partners

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — Private Equity, Private Credit and Real Estate — in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and, as of December 31, 2025, has approximately $46 billion in assets under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com | LinkedIn.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About KIC

The Korea Investment Corporation (KIC) is the sovereign wealth fund of the Republic of Korea. We manage public funds entrusted by the Korean government and Bank of Korea, investing across diverse asset classes. Our goal is to increase sovereign wealth and help develop the domestic finance industry. Learn more at www.kic.kr/en/.

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For KKR

Wei Jun Ong

+65 6922 5813

WeiJun.Ong@kkr.com

James Jarman

+65 8870 6452

James.Jarman@kkr.com

Source: KKR

The post Samsung Fire & Marine Insurance to Acquire Outstanding Stake in Canopius with KKR and KIC appeared first on Insurance News | InsuranceNewsNet.

A family can leave a complicated estate and still fall below the federal estate tax exemption. A business, rental properties and retirement savings can represent substantial wealth without giving heirs an easy way to divide it or cover immediate expenses.

The One Big Beautiful Bill Act established a $15 million individual federal estate and gift tax exemption for 2026, with no scheduled expiration. For households worth $5 million to $15 million, wealth composition can matter as much as the total.

The conversation starts with composition, not just the total

Federal exposure requires more than comparing net worth with $15 million. Consider a household with $8 million, much of it tied to a closely held business. A daughter plans to run the company, while a son has built a career elsewhere.

Their parents want both children to receive a meaningful inheritance without forcing a sale or an unaffordable buyout. That family may owe no federal estate tax. But without a plan, the business could become a source of conflict rather than support.

Estate equalization through life insurance

This is where estate equalization comes in, addressing a blind spot many families overlook. Parents often want to leave an equal inheritance to all their children. But if most of the wealth is tied to a business, the child active in the company may be forced to sell it or take on significant debt to buy out the sibling who isn’t involved. Without a mechanism to balance the distribution, the business becomes a source of friction rather than a legacy.

Life insurance is used as an equalizer. A policy on the parents provides a cash payout to the non-involved sibling, while the active sibling retains full ownership of the business and the growth they helped build. The daughter gets the company. The son receives the life insurance proceeds. Both children inherit a meaningful amount, and neither is forced to sell or buy out the other.

The same approach works for a family where one child receives the family home, and another receives investment accounts. The goal is not to make every inheritance identical. The goal is to ensure no heir feels the distribution was unfair.

Consider a hypothetical estate of $8 million to $20 million where one child grew the business from a small operation to a large one. Without a plan, that growth becomes a problem. The active child has invested years building value, yet may walk away with less than a sibling who wasn’t involved. Life insurance converts that illiquidity into immediate cash when it is needed, preserving the business for the person who built it and providing fair value to the rest of the family.

An estate planning lens, not just a product lens

People often discuss life insurance as a product. For families in this range, it is better understood as a planning tool.

Permanent life insurance can provide liquidity when a family needs it: when an owner dies, when assets are illiquid, or when heirs need cash that a business or property cannot supply. Evaluating coverage through a planning lens means starting with the family’s objectives and working backward to the structure. No one can guarantee someone will qualify for the same coverage later.

Questions worth asking now

A coordinated review with the family’s tax and legal professionals can surface gaps before they become problems. Four questions help frame the discussion:

1. Which assets would be difficult to sell or divide after a death?
2. Who would need cash, for what purpose, and at whose death?
3. Do policy ownership and beneficiary designations support the estate documents?
4. What has changed since the last coordinated insurance, tax and legal review?

Depending on where a person lives or owns property, state estate and inheritance taxes can apply even if no federal estate tax is due.

Planning precision matters

Tax language also needs precision. Life insurance death proceeds are generally excluded from a beneficiary’s federal gross income. However, proceeds can still be included in the insured’s gross estate, including when the insured retains certain ownership rights. Trust ownership and policy transfers require legal and tax review before implementation.

The families that benefit most aren’t always the ones with the highest net worth. They are the ones whose advisors started the conversation early and structured the plan before the family needed it.

Make the next step concrete

End the meeting by agreeing on who will handle each unresolved item and setting a follow-up date. Give the family a written recap of decisions and next steps. Clear responsibilities and a scheduled follow-up help families act while they have time. Our standard is simple: start the conversation before the family needs it. Families who plan have options when it matters most.

© Entire contents copyright 2026 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

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HONG KONG–(BUSINESS WIRE)– Hong Kong’s non-life insurance market recorded stable growth in 2025, with gross written premiums (GWP) growing year over year by 8% to HKD 108.5 billion, driven by steady growth in direct business and inward reinsurance activities, according to a new AM Best report.

The Best’s Market Segment Report, “Health and Property Lines Drive Hong Kong’s Non-Life Insurance Growth,” notes that there are 87 authorised pure non-life insurance companies in Hong Kong, as of 31 March 2026, creating tight price competition and margin pressures across the industry, which makes organic growth difficult for some entities. Accident and health (A&H) insurance remains the largest premium contributor, representing 37% of the Hong Kong non-life market. The other two core business segments — property damage and general liability (including employees’ compensation) have held consistent market share in 2024 and 2025.

Despite continued margin pressure from medical inflation, the A&H segment grew by 14.5% in 2025 from the previous year due to strong onshore business demand, an aging population and the city’s role as a regional hub for private medical services and cross-border protection.

“The rapid physical integration of the Greater Bay Area, a major urban and economic cluster in southern China that connects Hong Kong and Macau with nine cities in Guangdong province, has also led to considerable non-local demand,” said Cynthia Ang, senior industry research analyst, AM Best.

The property line of business also showed solid growth as more-frequent catastrophe events have created higher demand for coverage of commercial risks. The expansion of inward reinsurance portfolios was also a factor in the segment’s growth. However, underwriting profit for direct property damage business shrank by 87%, owing largely to huge claims payouts and substantial reserves set aside by insurers following the November 2025 Wang Fuk Court fire.

“A material portion of the gross incurred losses from the Wong Fuk Court fire was transferred to reinsurers, with limited impact on pricing. However, the scale of the event has caused primary insurers and reinsurers to reassess their risk appetite and strategy, leading to stricter underwriting standards, particularly for high-rise renovations and high-risk construction locations,” said Stephanie Mi, senior financial analyst, AM Best.

Other report takeaways include:

• The non-life segment is heavily fragmented, with intense competition and low concentration; no single company holds a market share of more than 10%.
• Favourable prior-year reserve releases contributed to stronger underwriting performance and helped improve the combined ratio for the employees’ compensation insurance segment in 2025.
• Progressive regulatory strategies balance market resilience and industry development by introducing targeted initiatives to streamline compliance and support sustainable growth.

To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=370475.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Stephanie Mi
Senior Financial Analyst
+852 2827 3402
stephanie.mi@ambest.com

Cynthia Ang
Senior Industry Research Analyst
+65 6303 5026
cynthia.ang@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source: A.M. Best Rating Services, Inc.

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OLDWICK, N.J.–(BUSINESS WIRE)–
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life), collectively referred to as CSI. The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Omaha, NE.

The ratings reflect CSI’s and CSI Life’s balance sheet strength, which AM Best assesses as strongest, as well as their adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

CSI maintains risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Additionally, CSI benefits from its very conservative underwriting leverage, above average liquidity position and the implicit support from its ultimate parent, Berkshire Hathaway Inc. (Berkshire) [NYSE: BRK A and BRK B] via investment management services, capital and risk management.

CSI’s investment portfolio includes a relatively elevated level of common stock leverage, which may bring volatility to the company’s surplus. However, a mitigating factor is CSI’s reserves, which have more than enough backing from cash and short-term investments. Investment income has accounted for the bulk of total earnings in the last 10 years. CSI currently writes more non-credit insurance premiums on a gross basis compared with its long-standing credit insurance business. Most of CSI’s gross premiums written are related to long-term fronting agreements.

CSI is a specialty insurance company, which provides credit card credit insurance and has fronting agreements with multiple insurers. While CSI’s business is somewhat concentrated by lines of business, CSI carries the Berkshire brand name and benefits from its implicit support, which helps mitigate these risks. CSI benefits from the formal structure of Berkshire’s ERM. This provides it with resources to monitor and manage risks. CSI has developed its own management program to control company-specific risks.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Patrick Cyphers

Financial Analyst

+1 908 882 1719

patrick.cyphers@ambest.com

Christopher Pennings, CPCU

Senior Financial Analyst

+1 908 882 2237

christopher.pennings@ambest.com

Christopher Sharkey

Associate Director, Public Relations

+1 908 882 2310

christopher.sharkey@ambest.com

Al Slavin

Senior Public Relations Specialist

+1 908 882 2318

al.slavin@ambest.com

Source: AM Best

The post AM Best Affirms Credit Ratings of Central States Indemnity Co. of Omaha and Its Subsidiary appeared first on Insurance News | InsuranceNewsNet.

MONTPELIER, Vt. & ADDISON, Texas–(BUSINESS WIRE)–
The National Life Group Board of Directors has approved an estimated payment of $23 million in dividends to eligible participating policyholders in 2027. This payment represents National Life Group’s ongoing commitment to its policyholders and continues the proud heritage of having paid dividends since 1855.

An annual dividend is a yearly payment from the life insurance company for certain policies. Every year the company determines what the dividend rate will be, or if they will pay a dividend at all. Annual dividends are not guaranteed and may increase or decrease from policy year to policy year.

“Since 1848, National Life Group has been committed to keeping our promises and delivering peace of mind to the families and businesses who place their trust in us,” said Mehran Assadi, Chair, CEO, and President of National Life Group. “Our annual dividend payout reflects our financial strength and our commitment to sharing that success with eligible participating policyholders.”

National Life Group has been keeping promises since 1848, providing access to flexible, secure life insurance and annuities for families, businesses, educators, and first responders nationwide. With an independent, entrepreneurial spirit, our values are to “Do good, Be good, Make good” for our customers, agents, employees, and the communities we serve. Learn more at NationalLife.com

National Life Group^® is a trade name of National Life Insurance Company (NLIC), Montpelier, VT founded in 1848, Life Insurance Company of the Southwest (LSW), Addison, TX chartered in 1955, and its affiliates. Each company is solely responsible for its own financial condition and contractual obligations. LSW is not an authorized insurer in New York and does not conduct insurance business in New York. NLIC, the flagship of National Life Group was founded in 1848, and all references to 1848 are attributable to NLIC.

Products are issued by National Life Insurance Company and Life Insurance Company of the Southwest. TC9198668(1026)1

View source version on businesswire.com: https://www.businesswire.com/news/home/20261106113474/en/

Sarah Donovan, corporate communications, National Life Group, 469-851-9491

Source: National Life Group

The post National Life Group Approves $23 Million Dividends for 2027 appeared first on Insurance News | InsuranceNewsNet.

• Estimated combined risk-based capital (“RBC”) ratio between 415% and 435%; holding company liquid assets of $1.0 billion
• Annuity sales of $2.4 billion, primarily driven by $2.1 billion in sales of Shield Level Annuities
• Life sales of $36 million, primarily driven by sales of SmartCare
• Net income available to shareholders of $302 million, or $5.21 per diluted share
• Adjusted earnings, less notable items,* of $213 million, or $3.68 per diluted share

CHARLOTTE, N.C.–(BUSINESS WIRE)–
Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the third quarter ended September 30, 2026.

Third Quarter 2026 Results

The company reported net income available to shareholders of $302 million in the third quarter of 2026, or $5.21 per diluted share, compared with net income available to shareholders of $453 million in the third quarter of 2025, or $7.89 per diluted share. The company anticipates volatility in net income (loss) given the differences between its hedge target and GAAP reserves, which are impacted by market performance.

In the third quarter of 2026, the company completed its GAAP annual actuarial review where it reviews its long-term assumptions. This resulted in a net favorable impact to net income available to shareholders of $278 million.

The company ended the third quarter of 2026 with common stockholders’ equity (“book value”) of $3.3 billion, or $57.59 per common share, and book value, excluding accumulated other comprehensive income (“AOCI”) of $9.3 billion, or $161.36 per common share.

For the third quarter of 2026, the company reported adjusted earnings* of $527 million, or $9.12 per diluted share, compared with adjusted earnings of $970 million, or $16.87 per diluted share, for the third quarter of 2025.

Adjusted earnings for the quarter reflect $314 million of net favorable notable items, or $5.42 per diluted share, and the third quarter of 2025 included $709 million of net favorable notable items, or $12.33 per diluted share, both related to the annual actuarial review completed in the respective quarters.

Corporate expenses in the third quarter of 2026 were $204 million, flat compared with the third quarter of 2025 and the second quarter of 2026, all on a pre-tax basis. Beginning in 2026, certain costs incurred in connection with the previously announced pending acquisition of the company are not categorized as corporate expenses. Excluding these transaction-related costs in the third quarter of 2025, corporate expenses increased $4 million quarter-over-quarter.

In the third quarter of 2026, the company reported annuity sales of $2.4 billion, which were flat sequentially. Annuity sales decreased 12% quarter-over-quarter and 8% year-to-date, driven by lower fixed annuity sales, partially offset by strong sales of Shield Level Annuities, which were $2.1 billion in the quarter. Life sales for the quarter totaled $36 million, representing an 8% decrease sequentially and a 5% decrease quarter-over-quarter. Life sales were flat on a year-to-date basis.

Annuities

Adjusted earnings in the Annuities segment were $301 million in the current quarter, compared with adjusted earnings of $304 million in the third quarter of 2025 and adjusted earnings of $349 million in the second quarter of 2026.

The current quarter included a $1 million unfavorable notable item and the third quarter of 2025 included a $7 million unfavorable notable item, both related to the annual actuarial review completed in the respective quarters. There were no notable items in the second quarter of 2026.

On a quarter-over-quarter basis, adjusted earnings, less notable items, reflect a lower income annuity underwriting margin and higher amortization of deferred acquisition costs, partially offset by higher net investment income. On a sequential basis, adjusted earnings, less notable items, reflect lower fees, a lower income annuity underwriting margin, and lower net investment income.

As mentioned above, the company reported annuity sales of $2.4 billion, which were flat sequentially. Annuity sales decreased 12% quarter-over-quarter and 8% year-to-date, driven by lower fixed annuity sales, partially offset by strong sales of Shield Level Annuities, which were $2.1 billion in the quarter.

Life

The Life segment had adjusted earnings of $91 million in the current quarter, compared with adjusted earnings of $40 million in the third quarter of 2025 and an adjusted loss of $4 million in the second quarter of 2026.

The current quarter included a $67 million favorable notable item and the third quarter of 2025 included an $11 million favorable notable item, both related to the annual actuarial review completed in the respective quarters. There were no notable items in the second quarter of 2026.

On a quarter-over-quarter basis, adjusted earnings, less notable items, reflect a lower underwriting margin and lower net investment income, partially offset by lower expenses. On a sequential basis, adjusted earnings, less notable items, reflect higher net investment income and lower expenses, partially offset by a lower underwriting margin.

As mentioned above, the company reported Life sales for the quarter of $36 million, representing an 8% decrease sequentially and a 5% decrease quarter-over-quarter. Life sales were flat on a year-to-date basis.

Run-off

The Run-off segment had adjusted earnings of $166 million in the current quarter, compared with adjusted earnings of $641 million in the third quarter of 2025 and an adjusted loss of $56 million in the second quarter of 2026.

The current quarter included a $248 million favorable notable item and the third quarter of 2025 included a $705 million favorable notable item, both related to the annual actuarial review completed in the respective quarters. There were no notable items in the second quarter of 2026.

On a quarter-over-quarter basis, the adjusted loss, less notable items, reflects a lower underwriting margin and lower net investment income, partially offset by lower expenses. On a sequential basis, the adjusted loss, less notable items, reflects a lower underwriting margin, partially offset by higher net investment income.

Corporate & Other

The Corporate & Other segment had an adjusted loss of $31 million in the current quarter, compared with an adjusted loss of $15 million in the third quarter of 2025 and an adjusted loss of $31 million in the second quarter of 2026.

There were no notable items in the current quarter or the comparison quarters.

On a quarter-over-quarter basis, the adjusted loss reflects lower net investment income and a lower tax benefit. On a sequential basis, the adjusted loss was flat.

Net Investment Income

Net investment income was $1,257 million and adjusted net investment income* was $1,310 million in the current quarter.

Adjusted net investment income decreased $17 million on a quarter-over-quarter basis, driven by lower average assets. Adjusted net investment income increased $71 million sequentially, driven by higher alternative investment income.

The adjusted net investment income yield* was 4.41% during the quarter.

Capitalization

As of September 30, 2026:

• Statutory combined total adjusted capital⁽¹⁾ was $4.8 billion
• Estimated combined RBC ratio⁽¹⁾ was between 415% and 435%, which is within our target range of 400% to 450% in normal market conditions, and primarily reflects:
  • A benefit from a $600 million Brighthouse Reinsurance Company of Delaware extraordinary dividend paid to Brighthouse Life Insurance Company in the third quarter of 2026,
  • Negative impacts from core results and non-trendable items, including basis risk (which can fluctuate quarter to quarter) and the effects from the significant rise in interest rates in the quarter, and
  • A reserve increase from the statutory annual actuarial review conducted in the third quarter of 2026 and the full implementation of the NAIC’s new Generator of Economic Scenarios (GOES) framework for our variable annuity and Shield products.
• Holding company liquid assets were $1.0 billion

Pending Merger with Aquarian Capital

On November 6, 2025, Aquarian Capital LLC (“Aquarian Capital”), a diversified global holding company with a strategic portfolio of insurance and asset management businesses, and Brighthouse Financial, announced that they had entered into a definitive merger agreement under which an affiliate of Aquarian Capital will acquire Brighthouse Financial for $70.00 per share in an all-cash transaction valued at approximately $4.1 billion.

The completion of the merger remains subject to the receipt of insurance regulatory approvals in Delaware, New York and Massachusetts. All other conditions to the closing of the merger have been satisfied or waived (other than those conditions that, by their terms, are to be satisfied at the closing and are capable of being satisfied at the closing). Pursuant to the terms of the merger agreement, on September 6, 2026, the merger agreement was automatically extended to December 6, 2026 (the “Outside Date”). The company or Aquarian Capital may terminate the merger agreement if the closing has not occurred by the Outside Date.

The regulatory review process is ongoing, and the necessary regulatory approvals are not expected to be received in time to complete the merger by the Outside Date. Accordingly, the company and Aquarian Capital currently are in discussions regarding amending the merger agreement to extend the Outside Date and remain committed to the merger, although there can be no assurance that the company and Aquarian Capital will ultimately agree on an extension or that the merger will be completed by any such new outside date (or at all).

About Brighthouse Financial, Inc.

Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S.,⁽¹⁾ we specialize in products designed to help people protect what they’ve earned and ensure it lasts. Learn more at brighthousefinancial.com.

Note Regarding Forward-Looking Statements

This news release and other oral or written statements that Brighthouse Financial makes from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties. Brighthouse Financial has tried, wherever possible, to identify such statements using words such as “anticipate,” “estimate,” “expect,” “project,” “may,” “will,” “could,” “intend,” “goal,” “target,” “guidance,” “forecast,” “preliminary,” “objective,” “continue,” “aim,” “plan,” “believe” and other words and terms of similar meaning, or that are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include, without limitation, statements relating to the completion of the pending merger with an affiliate of Aquarian Capital, future actions, prospective services or products, financial projections, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, as well as trends in operating and financial results.

Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of Brighthouse Financial. These statements are based on current expectations and the current economic environment and involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others: Brighthouse Financial’s ability to complete the merger in the timeframe or manner currently anticipated or at all, including due to a failure to obtain the regulatory approvals required for the closing of the merger or the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the merger agreement; the effect of the pendency of the merger on Brighthouse Financial’s ongoing business and operations, including disruption to Brighthouse Financial’s business relationships, the diversion of management’s attention from ongoing business operations and opportunities, or the outcome of any legal proceedings that may be instituted against Aquarian Capital or Brighthouse Financial following announcement of the merger; restrictions on the conduct of Brighthouse Financial’s business prior to the closing of the merger and on Brighthouse Financial’s ability to pursue alternatives to the merger; the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; differences between actual experience and actuarial assumptions and the effectiveness of Brighthouse Financial’s actuarial models; higher risk management costs and exposure to increased market risk due to guarantees within certain of Brighthouse Financial’s products; the effectiveness of Brighthouse Financial’s risk management strategy and the impacts of such strategy on volatility in Brighthouse Financial’s profitability measures and the negative effects on Brighthouse Financial’s statutory capital; material differences between actual outcomes and the sensitivities calculated under certain scenarios that Brighthouse Financial may utilize in connection with its risk management strategies; the impact of interest rates on Brighthouse Financial’s future universal life with secondary guarantees policyholder obligations and net income volatility; the potential material adverse effect of changes in accounting standards, practices or policies applicable to Brighthouse Financial; loss of business and other negative impacts resulting from a downgrade or a potential downgrade in Brighthouse Financial’s financial strength or credit ratings; the availability of reinsurance and the ability of the counterparties to Brighthouse Financial’s reinsurance or indemnification arrangements to perform their obligations thereunder; heightened competition, including with respect to service, product features, product mix, scale, price, actual or perceived financial strength, claims-paying ratings, credit ratings, e-business capabilities and name recognition; Brighthouse Financial’s ability to market and distribute its products through distribution channels and maintain relationships with key distribution partners; any failure of third parties to provide services Brighthouse Financial needs, any failure of the practices and procedures of such third parties and any inability to obtain information or assistance it needs from third parties; the ability of Brighthouse Financial’s subsidiaries to pay dividends to it, and its ability to pay dividends to its shareholders and repurchase its common stock; the risks associated with climate change; the adverse impact of public health crises, extreme mortality events or similar occurrences on Brighthouse Financial’s business and the economy in general; the impact of adverse capital and credit market conditions, including with respect to Brighthouse Financial’s ability to meet liquidity needs and access capital; the impact of economic conditions in the capital markets and the U.S. and global economy, as well as geopolitical events, tariffs imposed or threatened by the U.S. or foreign governments, military actions or catastrophic events, on Brighthouse Financial’s profitability measures as well as its investment portfolio, including on realized and unrealized losses and impairments, net investment spread and net investment income; the financial risks that Brighthouse Financial’s investment portfolio is subject to, including credit risk, interest rate risk, inflation risk, market valuation risk, liquidity risk, real estate risk, derivatives risk, and other factors outside Brighthouse Financial’s control; the impact of changes in regulation and in supervisory and enforcement policies or interpretations thereof on Brighthouse Financial’s insurance business or other operations; the potential material negative tax impact of potential future tax legislation that could make some of Brighthouse Financial’s products less attractive to consumers or increase its tax liability; the effectiveness of Brighthouse Financial’s policies, procedures and processes in managing risk; the loss or disclosure of confidential information, damage to Brighthouse Financial’s reputation and impairment of its ability to conduct business effectively as a result of any failure in cyber- or other information security systems; whether all or any portion of the tax consequences of Brighthouse Financial’s separation from MetLife, Inc. are not as expected, leading to material additional taxes or material adverse consequences to tax attributes that impact Brighthouse Financial; and other factors described from time to time in documents that Brighthouse Financial files with the U.S. Securities and Exchange Commission (the “SEC”).

For the reasons described above, Brighthouse Financial cautions you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements included and the risks, uncertainties and other factors identified in Brighthouse Financial’s most recent Annual Report on Form 10-K, particularly in the sections entitled “Risk Factors” and “Quantitative and Qualitative Disclosures About Market Risk,” as well as in its other subsequent filings with the SEC. Further, any forward-looking statement speaks only as of the date on which it is made, and Brighthouse Financial undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as otherwise may be required by law.

The information contained on or connected to any websites referenced in this news release is not incorporated by reference into this news release.

Non-GAAP and Other Financial Disclosures

Our definitions of non-GAAP and other financial measures may differ from those used by other companies.

Non-GAAP Financial Disclosures

We present certain measures of our performance that are not calculated in accordance with accounting principles generally accepted in the United States of America, also known as “GAAP.” We believe that these non-GAAP financial measures enhance the understanding of our performance by the investor community by highlighting the results of operations and the underlying profitability drivers of our business.

The following non-GAAP financial measures should not be viewed as substitutes for the most directly comparable financial measures calculated in accordance with GAAP:

Reconciliations to the most directly comparable historical GAAP measures are included for those measures which are presented herein. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are not accessible on a forward-looking basis because we believe it is not possible without unreasonable efforts to provide other than a range of net investment gains and losses and net derivative gains and losses, which can fluctuate significantly within or outside the range and from period to period and may have a material impact on net income (loss) available to shareholders.

Adjusted Earnings, Adjusted Revenues and Adjusted Expenses

Adjusted earnings is a financial measure used by management to evaluate performance and facilitate comparisons to industry results. This financial measure, which may be positive or negative, focuses on our primary businesses by excluding the impact of market volatility, which could distort trends.

Adjusted earnings reflect adjusted revenues less (i) adjusted expenses, (ii) provision for income tax expense (benefit), (iii) net income (loss) attributable to noncontrolling interests and (iv) preferred stock dividends. Provided below are the adjustments to GAAP revenues and GAAP expenses used to calculate adjusted revenues and adjusted expenses, respectively.

The following items are excluded from total revenues in calculating the adjusted revenues component of adjusted earnings:

• Net investment gains (losses);
• Investment gains (losses) on trading securities measured at estimated fair value through net investment income; and
• Net derivative gains (losses) (“NDGL”), excluding earned income and amortization of premium on derivatives that are hedges of investments or that are used to replicate certain investments, but do not qualify for hedge accounting treatment (“Investment Hedge Adjustments”).

The following items are excluded from total expenses in calculating the adjusted expenses component of adjusted earnings:

• Change in market risk benefits; and
• Change in fair value of the crediting rate on experience-rated contracts and market value adjustments on institutional group annuities that are economically offset by gains (losses) on the related trading securities (“Market Value Adjustments”).

The provision for income tax related to adjusted earnings is calculated using the statutory tax rate of 21%, net of impacts related to the dividends received deduction, tax credits and current period non-recurring items.

Consistent with GAAP guidance for segment reporting, adjusted earnings is also our GAAP measure of segment performance.

Adjusted Earnings per Common Share and Adjusted Return on Common Equity

Adjusted earnings per common share and adjusted return on common equity are measures used by management to evaluate the execution of our business strategy and align such strategy with our shareholders’ interests.

Adjusted earnings per common share is defined as adjusted earnings for the period divided by the weighted average number of fully diluted shares of common stock outstanding for the period. The weighted average common shares outstanding used to calculate adjusted earnings per share will differ from such shares used to calculate diluted net income (loss) available to shareholders per common share when the inclusion of dilutive shares has an anti-dilutive effect for one calculation but not for the other.

Adjusted return on common equity is defined as total annual adjusted earnings on a four quarter trailing basis, divided by the simple average of the most recent five quarters of total Brighthouse Financial, Inc.’s common stockholders’ equity, excluding AOCI.

Adjusted Net Investment Income

Adjusted net investment income is used by management to measure our performance, and we believe it enhances the understanding of our investment portfolio results. Adjusted net investment income represents GAAP net investment income plus Investment Hedge Adjustments less investment gains (losses) on trading securities.

Adjusted Net Investment Income Yield

Similar to adjusted net investment income, adjusted net investment income yield is used by management as a performance measure that we believe enhances the understanding of our investment portfolio results. Adjusted net investment income yield represents adjusted net investment income as a percentage of average quarterly asset carrying values. Asset carrying values exclude unrealized gains (losses), collateral received in connection with our securities lending program, freestanding derivative assets and collateral received from derivative counterparties. Investment fee and expense yields are calculated as a percentage of average quarterly asset estimated fair values. Asset estimated fair values exclude collateral received in connection with our securities lending program, freestanding derivative assets and collateral received from derivative counterparties.

Other Financial Disclosures

Corporate Expenses

Corporate expenses includes functional department expenses, public company expenses, certain investment expenses, retirement funding and incentive compensation.

Notable Items

Certain of the non-GAAP measures described above may be presented further adjusted to exclude notable items. Notable items reflect the unfavorable (favorable) after-tax impact on our results of certain unanticipated items and events, as well as certain items and events that were anticipated. The presentation of notable items and non-GAAP measures, less notable items is intended to help investors better understand our results and to evaluate and forecast those results.

Book Value per Common Share and Book Value per Common Share, excluding AOCI

Brighthouse uses the term “book value” to refer to “Brighthouse Financial, Inc.’s common stockholders’ equity, including AOCI.” Book value per common share is defined as ending Brighthouse Financial, Inc.’s common stockholders’ equity, including AOCI, divided by ending common shares outstanding. Book value per common share, excluding AOCI, is defined as ending Brighthouse Financial, Inc.’s common stockholders’ equity, excluding AOCI, divided by ending common shares outstanding.

Holding Company

Holding company means, collectively, Brighthouse Financial, Inc., Brighthouse Holdings, LLC, and Brighthouse Services, LLC.

Holding Company Liquid Assets

Holding company liquid assets include liquid assets in Brighthouse Financial, Inc., Brighthouse Holdings, LLC, and Brighthouse Services, LLC. Liquid assets are comprised of cash and cash equivalents, short-term investments and publicly-traded securities, excluding assets that are pledged or otherwise committed. Assets pledged or otherwise committed include assets held in trust.

Total Adjusted Capital

Total adjusted capital primarily consists of statutory capital and surplus, as well as the statutory asset valuation reserve. When referred to as “combined,” represents that of our insurance subsidiaries as a whole.

Sales

Life insurance sales consist of 100 percent of annualized new premium for term life, first-year paid premium for whole life, universal life, and variable universal life, and total paid premium for indexed universal life. We exclude company-sponsored internal exchanges, corporate-owned life insurance, bank-owned life insurance, and private placement variable universal life.

Annuity sales consist of 100 percent of direct statutory premiums, except for fixed index annuity sales, which represents 100 percent of gross sales on directly written business and the proportion of assumed gross sales under reinsurance agreements. Annuity sales exclude certain internal exchanges. These sales statistics do not correspond to revenues under GAAP, but are used as relevant measures of business activity.

Risk-Based Capital Ratio

The risk-based capital ratio is a method of measuring an insurance company’s capital, taking into consideration its relative size and risk profile, in order to ensure compliance with minimum regulatory capital requirements set by the National Association of Insurance Commissioners. When referred to as “combined,” represents that of our insurance subsidiaries as a whole. The reporting of our combined risk-based capital ratio is not intended for the purpose of ranking any insurance company or for use in connection with any marketing, advertising or promotional activities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261105250214/en/

FOR INVESTORS
Dana Amante

(980) 949-3073

damante@brighthousefinancial.com

FOR MEDIA
Meghan Lantier

(980) 949-4142

mlantier@brighthousefinancial.com

Source: Brighthouse Financial, Inc.

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Milliman Inc. has agreed to a proposed $15.5 million settlement resolving class-action allegations that its IntelliScript service supplied inaccurate medical and prescription information to life insurers.

The company said it agreed to settle to avoid the cost, distraction and uncertainty of prolonged litigation. Milliman maintains that its processes and procedures are sound.

“We are confident in our process and procedures, and the settlement allows us to put these matters behind us while continuing to focus on serving clients,” said Jeremy Engdahl-Johnson, senior director of global communications. He emphasized that the settlements are not admissions of wrongdoing or liability.

Six plaintiffs filed an unopposed motion for preliminary approval Oct. 26 in the U.S. District Court for the Western District of Washington. The proposed settlement has not received court approval.

The lawsuit, Healy et al. v. Milliman Inc., accuses the company of violating the Fair Credit Reporting Act by providing inaccurate consumer reports, failing to properly investigate disputes and not fully disclosing information in consumers’ files.

Medical data in life insurance underwriting

The case traces back to James Healy’s application for life insurance with Americo Financial Life and Annuity Insurance Co. in April 2020.

Americo requested a report of Healy’s medical and prescription history from Milliman’s IntelliScript service. Prepared April 21, the report included 13 medications Healy said he had never taken and 176 medical entries for care he said he had never received, his original complaint states.

It also attributed conditions including diabetes, liver disease, chest pain, osteoarthritis and sleep apnea to Healy. In a later review of the case, the 9th Circuit Court of Appeals described the records as belonging to another person and noted that the conditions carried the report’s highest-risk indicator.

Americo denied Healy’s application on April 29, 2020, because of the erroneous risk flags, the appeals court found.

IntelliScript compiles medical and prescription information from sources such as pharmacies, pharmacy benefit managers and health insurers.

The Consumer Financial Protection Bureau identifies it as a medical consumer reporting company that collects prescription drug purchase histories to help assess life insurance applicants’ mortality risk and provide underwriting scores.

Disputes over record matching

At the center of Healy’s claims is how Milliman matched medical records to individual consumers.

The 9th Circuit’s January opinion described a process known as fuzzy matching. Rather than relying exclusively on an exact Social Security number match, the process can identify records through similarities in names and other identifying information.

Social Security numbers were used to match about 87% of the information Milliman associated with applicants, the court’s opinion said. Other identifying details were used for the remaining records.

Healy also disputed how Milliman handled challenges to the report. After receiving it, he contacted the company to contest the information. Milliman asked him to obtain records from pharmacies to support his dispute, the complaint recounts.

Healy argued that request was impractical because he had never received care from most of the pharmacies listed. He further alleged that Milliman failed to conduct a reasonable reinvestigation or correct the disputed information.

The complaint raises a separate issue involving disclosures, alleging that Milliman did not give consumers complete information about the sources of data included in their reports.

Appeals court revived part of the case

The case reached the 9th Circuit after a federal district court granted Milliman partial summary judgment on claims involving inaccurate reports and class-wide standing.

In its Jan. 9 opinion, the appeals court said members of a certified class seeking monetary damages must provide evidence of standing at the summary judgment stage. However, the district court had applied the wrong standard by requiring direct evidence of injury.

Circumstantial evidence could also be used, the panel ruled. It reversed the partial summary judgment and sent the issue back to the district court for reconsideration.

The decision did not establish that Milliman violated the Fair Credit Reporting Act or that every report at issue contained inaccurate information. Those allegations remained unresolved.

Proposed settlement terms

The proposed settlement covers an estimated 780,965 consumers across three groups, according to Top Class Actions’ report on the agreement.

One group involves consumers whose reports contained certain medical or prescription records associated with mismatched Social Security numbers.

Others involve consumers who disputed information but allegedly did not receive a proper or timely reinvestigation, as well as those who received incomplete disclosures about information in their files.

The estimated class size should not be interpreted as the number of people who received inaccurate medical records or were denied life insurance. The proposed classes also include disputes over reinvestigation procedures and file disclosures.

Under the reported terms, approximately $9 million would be available for valid claims. Payments would be calculated through a points system based on the type of claim.

Class counsel estimates individual payments could range from $30 to $1,000, depending on the number of claims filed.

Milliman would also be required to maintain enhanced practices for at least five years under the proposed agreement. Reported changes include automated checks for mismatched records, improved tracking of consumer disputes and expanded disclosures about reports compiled for consumers.

The settlement remains subject to court approval. Claim-filing instructions and payment dates have not been announced.

© Entire contents copyright 2026 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

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Prudential Financial reported lower third-quarter earnings Wednesday as a sales suspension in Japan offset growth in its U.S. businesses and asset management operations.

The Newark, N.J.-based insurer boasted record annuity sales as its industry-leading FlexGuard registered index-linked annuities continued resonating with consumers.

Retail annuity sales reached $3.9 billion, the highest quarterly level since 2013. The insurer reported its highest-ever quarterly sales of RILAs, reflecting demand for protected accumulation products and the success of product enhancements introduced late last year.

Retail annuity account values rose 25% year over year to $68 billion. Sales over the past 12 months totaled $14 billion.

“The individual annuities market continues to just be incredibly strong and growing,” said CEO Andy Sullivan. “The aging of society that needs protected income, the trillions of dollars of retirement that are in motion. So, we’re executing in this business against a backdrop of a market that has incredible tailwinds.”

Prudential reported after-tax adjusted operating income of $1.3 billion, or $3.77 per share, compared with $1.4 billion, or $4.05 per share, in the same quarter last year.

Japan woes affect earnings

Prudential saw higher spread income and favorable underwriting results in its U.S. businesses during Q3, along with increased asset management fees. Those gains were more than offset by the impact of a sales suspension at Prudential of Japan and higher expenses tied to growth in its U.S. businesses.

POJ continues to work through widespread allegations of misconduct. Included are measures to reimburse impacted customers, restructure employee incentive compensation, and strengthen oversight of sales practices, governance, and risk management. The plans also include enhanced education, training and recruitment standards for POJ employees.

Sales were initially suspended for 90 days in February, a suspension that was later extended into November.

The sales suspension reduced third-quarter adjusted operating income by approximately $140 million, bringing the year-to-date impact to about $375 million. Prudential expects the suspension to reduce full-year 2026 earnings by approximately $500 million, with an additional $100 million impact from its Japan International Products business.

Sullivan said POJ is making progress on reforms required by Japan’s Financial Services Agency and expects its business to resume sales in phases beginning Feb. 1. Its Gibraltar business is also expected to return to the market on that date.

“We remain committed to implementing the changes to strengthen the way we conduct business in Japan,” Sullivan said. “Our objective is not simply to restart sales, but to build a business model that sustains customer trust and supports responsible growth. Our priority is to complete this work and demonstrate that our new governance and oversight frameworks are effective in practice.”

U.S. businesses show strength

Prudential’s U.S. businesses generated $1.2 billion in pretax adjusted operating income, essentially unchanged from the prior-year quarter.

Institutional retirement business remained subdued amid limited pension risk transfer activity across the industry. Prudential closed three mid-sized pension risk transfer transactions totaling approximately $1.6 billion in October and expects several additional transactions to close by year-end.

“Over the last five years, it has become a more competitive market with multiple entrants coming into the space and more and more people trying to go up market into the jumbo space,” Sullivan said. “So, it’s not more competitive; it’s the same. We’re well positioned.”

Group insurance reported $101 million in pretax adjusted operating income, up 12% from a year earlier, driven primarily by improved underwriting results. Year-to-date sales rose 23%, with growth strongest in supplemental health products.

The business reported an overall benefit ratio of 81%, below its target range. However, disability claims continued to show elevated incidence and severity, including higher behavioral health claims and claims among high-wage earners.

Individual life insurance posted $199 million in pretax adjusted operating income, compared with $153 million a year earlier. Results benefited from more favorable underwriting, including a roughly $30 million reserve refinement, and higher spread income.

Prudential’s PGIM asset management business reported $263 million in pretax adjusted operating income, up 8% year over year. Its adjusted operating margin expanded 280 basis points to 26.5%.

Prudential said it remains on track to expand PGIM’s operating margin to 30% over several years, with a longer-term goal of exceeding that level. Growth in higher-fee private credit, asset-backed finance and ETFs, along with expense management, is expected to support profitability.

Strategic portfolio shift

Prudential is pursuing a capital rotation strategy that includes the planned sale of its businesses in Brazil and Mexico for approximately $4.025 billion. The company expects net proceeds of about $3.1 billion after taxes, transaction fees and closing costs, with the deal anticipated to close in the second half of 2027.

“We intend to deploy the expected proceeds from the sales of our Brazil and Mexico businesses into targeted acquisitions that advance our growth strategy,” said Yanela Frias, executive vice president and chief financial officer.

The strategy is part of a longer-term plan to increase asset management’s contribution to earnings and expand selected insurance businesses. Prudential aims to increase asset management’s share of earnings from about 12% to 25%, with at least half of that growth expected to come organically.

© Entire contents copyright 2026 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

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Strategic Highlights

• Strong capital returns from Enact, with $122M received in the quarter
• Repurchased $80M of shares in the quarter; $998M since inception through September 30, 2026; announced new $500M share repurchase authorization
• CareScout delivered 1,532 matches¹ in the quarter, with continued progress expanding the CareScout Quality Network
• Care Assurance Worksite launched in the quarter; approved in 40 states as of September 30, 2026
• Continued progress on the LTC² MYRAP³ with approximately $35.0B estimated net present value achieved since 2012 from IFAs⁴

Financial Highlights

• Net loss⁵ of $41M, or $0.11 per diluted share, and adjusted operating income, excluding Closed Block^5,6 of $102M, or $0.27 per diluted share

  

• Enact reported adjusted operating income of $132M⁵ in the quarter; PMIERs sufficiency ratio⁷ remains strong at 158%⁸
• Legacy insurance companies’⁹ RBC ratio¹⁰ of 274%⁸
• Genworth holding company cash and liquid assets of $320M¹¹ at quarter-end

RICHMOND, Va.–(BUSINESS WIRE)–
Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended September 30, 2026.

“Genworth executed with discipline in the third quarter as we advanced progress against each of our three strategic priorities,” said Tom McInerney, President & CEO. “Enact’s significant capital returns supported our balanced approach to capital allocation, we expanded CareScout’s reach, and we continued to strengthen the self-sustainability of our Closed Block. As we continue to execute our strategy, we will be well positioned to drive sustainable long-term growth and deliver long-term value to shareholders.”

Consolidated GAAP Financial Highlights

• Net loss was driven by Closed Block, partially offset by Enact
• Net investment income, net of taxes, was $603 million in the quarter, down from $660 million in the prior quarter and $631 million in the prior year primarily from lower income from limited partnerships and U.S. Government Treasury Inflation Protected Securities
• Net investment losses, net of taxes, decreased net income by $9 million in the quarter, compared with net investment gains of $29 million in the prior quarter and $78 million in the prior year. The investment losses in the current quarter were driven primarily by net trading losses and derivatives partially offset by favorable mark-to-market adjustments on limited partnerships

Enact

• Results in the quarter included a pre-tax reserve release of $37 million reflecting favorable cure performance and loss mitigation activities. The prior quarter and prior year included pre-tax reserve releases of $37 million and $45 million, respectively
• Pre-tax net investment income of $74 million was up from $68 million in the prior year from higher yields and higher average invested assets
• Primary new insurance written (NIW) decreased 7% versus the prior quarter as a result of higher mortgage rates
• Primary insurance in-force increased 1% versus the prior year, as NIW outpaced lapses and cancellations
• Increase in loss ratio driven by normal seasonal increase in new delinquencies versus the prior quarter and a lower reserve release versus the prior year

• Enact entered into a quota share reinsurance agreement covering the 2028 book year
• Enact paid a quarterly dividend of $0.24 per share
• Estimated PMIERs sufficiency ratio of 158%, $1,827 million above requirements

Corporate and Other

• Current quarter results were primarily driven by continued investment in CareScout to fund growth in the services business and debt service
• Prior year included a $7 million tax benefit related to a release of a portion of the valuation allowance on certain deferred tax assets

Closed Block

• Current quarter results were primarily driven by a $111 million pre-tax A/E¹⁴ loss from lower terminations, primarily from mortality, and higher benefit utilization in LTC
• Results in the prior quarter and prior year reflected pre-tax A/E losses of $127 million and $100 million, respectively
• Compared to the prior quarter and prior year, results were also impacted by lower net investment income

• Statutory pre-tax loss was $143 million in the current quarter
• LTC continued to benefit from premium increases and benefit reductions from IFAs. Mortality was favorable to the prior quarter, but unfavorable to the prior year. Claims continued to grow as the block ages. Prior quarter results reflected a benefit from net insurance recoveries of $18 million and higher net investment income, primarily from limited partnerships
• Life insurance results included unfavorable seasonal impacts versus the prior quarter. Compared to the prior year, results included unfavorable mortality and unfavorable impacts as the block runs off
• Annuities results reflected $34 million net favorable interest rate and equity market impacts compared to $97 million in the prior quarter and $47 million in the prior year; mortality was also unfavorable compared to the prior year
• Current quarter estimated GLIC consolidated RBC ratio was 274%, down from the prior quarter from the statutory loss, primarily in LTC

Holding Company Cash and Liquid Assets

• Cash and liquid assets were $320 million at the end of the current quarter, which included approximately $200 million of cash held for future obligations, including advance cash payments from the company’s subsidiaries
• Cash inflows during the current quarter included $122 million from Enact capital returns
• Current quarter cash outflows included $80 million in share repurchases, the repurchase of $21 million in principal of holding company debt at a discount, and $6 million related to debt servicing costs

Capital Allocation and Shareholder Returns

• Executed $80 million in share repurchases in the quarter at an average price of $10.05 per share
• Executed $208 million in share repurchases at an average price of $9.16 per share year-to-date through September 30, 2026
• Executed $998 million in share repurchases since the program’s inception through September 30, 2026 at an average price of $6.66 per share
• Reduced holding company debt principal outstanding by $21 million in the quarter and $36 million year-to-date through September 30, 2026, at a discount

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a publicly traded holding company headquartered in Richmond, Virginia. Through its family of brands—including CareScout, Genworth, and Enact—Genworth uses its more than 150 years of experience to help families navigate the aging journey with clarity and confidence, offering guidance, products, and services that support caregiving decisions, long-term care planning, and the financial challenges of aging. Genworth is the majority owner of Enact Holdings, Inc. (Nasdaq: ACT), a leading U.S. mortgage insurance provider. For more information, visit https://www.genworth.com.

Conference Call Information

Investors are encouraged to read this press release, summary presentation and financial supplement which are now posted on the company’s website, https://investor.genworth.com.

Genworth will conduct a conference call on November 5, 2026 at 10:00 a.m. (ET) to discuss its third quarter results, which will be accessible via:

• Telephone: 800-330-6710 or 213-279-1505 (outside the U.S.); conference ID # 1800927; or
• Webcast: https://investor.genworth.com/news-events/ir-calendar

Allow at least 15 minutes prior to the call time to register for the call. A replay of the webcast will be available on the company’s website for one year.

Prior to Genworth’s conference call, Enact will hold a conference call on November 5, 2026 at 8:00 a.m. (ET) to discuss its third quarter results, which will be accessible via:

• Telephone: Click here to obtain a dial-in number and unique PIN for Enact’s live question and answer session; or
• Webcast: https://ir.enactmi.com/news-and-events/events

Allow at least 15 minutes prior to the call time to register for the call.

Use of Non-GAAP Measures

The company uses non-GAAP financial measures entitled “adjusted operating income (loss)” and “adjusted operating income (loss), excluding Closed Block.” These non-GAAP financial measures are evaluated by management and the company’s Board of Directors to assess performance, manage capital allocation, and in the case of adjusted operating income (loss), excluding Closed Block, as a factor for determining annual incentive awards and compensation for senior management. These measures have been established to more accurately reflect overall operating performance, as they minimize the impact of macroeconomic volatility. Management believes using adjusted operating income (loss), excluding Closed Block as a consolidated measure of profit or loss better aligns with the company’s strategy and capital allocation framework, as no capital is allocated to the Closed Block segment, which operates on a standalone basis, using existing capital and reserves, along with in-force management actions, to meet future obligations. The company also continues to report adjusted operating income (loss) for the Closed Block segment, as it believes it is the appropriate measure of profit or loss in accordance with segment reporting. Although adjusted operating income (loss) and adjusted operating income (loss), excluding Closed Block are non-GAAP financial measures, the company believes these measures aid in understanding the underlying performance of its operations.

The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding:

• net income (loss) attributable to noncontrolling interests,
• net investment gains (losses),
• changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges,
• gains (losses) on the sale of businesses,
• gains (losses) on the early extinguishment of debt,
• restructuring costs, and
• infrequent or unusual non-operating items.

A component of the company’s net investment gains (losses) is the result of estimated future credit losses, the size and timing of which can vary significantly depending on market credit cycles. In addition, the size and timing of other investment gains (losses) can be subject to the company’s discretion and are influenced by market opportunities, as well as asset-liability matching considerations. The company excludes the items listed above from adjusted operating income (loss) because, in the company’s opinion, they are not indicative of overall operating performance.

Adjustments to reconcile net income (loss) to adjusted operating income (loss) assume a 21% current tax rate, plus any associated deferred taxes, and are net of the portion attributable to noncontrolling interests. Changes in fair value of market risk benefits and associated hedges are adjusted to exclude changes in reserves, attributed fees and benefit payments.

Adjusted operating income (loss), excluding Closed Block is derived from adjusted operating income (loss) and excludes adjusted operating income (loss) of the company’s Closed Block segment. While some of the excluded items may be significant components of net income (loss) determined in accordance with GAAP, the company believes that adjusted operating income (loss), and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss), excluding Closed Block, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the company. Adjusted operating income (loss) and adjusted operating income (loss), excluding Closed Block are not measures of complete profitability; therefore, they should not be considered in isolation or viewed as substitutes for GAAP net income (loss). In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies. In reporting non-GAAP measures in the future, the company may make other adjustments to exclude items it does not consider reflective of its core operating performance. The company may also disclose other non-GAAP operating measures in the future if it believes that such measures would be helpful to investors in their evaluation of the company.

A table at the end of this press release provides a reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) and adjusted operating income (loss), excluding Closed Block for the three months ended September 30, 2026 and 2025, as well as the three months ended June 30, 2026.

Management also reports revenues of its CareScout services business (CareScout Services) to monitor growth of the business. CareScout Services revenues, which are included in Corporate and Other, primarily consist of fees from the CareScout Quality Network and placement fees earned when placing a care seeker in a senior living community, along with service fees such as eligibility assessments and Care Plans. To arrive at CareScout Services revenues, Corporate and Other revenues are adjusted to exclude intercompany eliminations, revenues from other businesses not individually reportable, including the company’s CareScout insurance business (CareScout Insurance) and international businesses, and other sources of revenue such as corporate net investment income and net investment gains (losses). See the table at the end of this press release for a reconciliation of total Corporate and Other revenues to CareScout Services revenues.

Statutory Accounting Data

The company presents certain supplemental statutory data for GLIC and its consolidating life insurance subsidiaries that has been prepared on the basis of statutory accounting principles (SAP). GLIC and its consolidating life insurance subsidiaries file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners that are prepared using SAP, an accounting basis either prescribed or permitted by such authorities. Due to differences in methodology between SAP and GAAP, the values for assets, liabilities and equity, and the recognition of income and expenses, reflected in financial statements prepared in accordance with GAAP are materially different from those reflected in financial statements prepared under SAP. This supplemental statutory data should not be viewed as an alternative to, or used in lieu of, GAAP.

This supplemental statutory data includes the company action level RBC ratio for GLIC and its consolidating life insurance subsidiaries as well as combined statutory pre-tax earnings from the principal legacy insurance companies, GLIC, GLAIC and GLICNY. Statutory pre-tax earnings represent the net gain (loss) from operations, including the impact from in-force rate actions, before dividends to policyholders, refunds to members and federal income taxes and before realized capital gains or (losses). The combined product level statutory pre-tax earnings are grouped on a consistent basis as those provided on page six of the statutory Annual Statements. Management uses and provides this supplemental statutory data because it believes it provides a useful measure of, among other things, statutory pre-tax earnings and the adequacy of capital. Management uses this data to measure against its policy to manage the legacy insurance companies with internally generated capital.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” “may” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company’s future business and financial performance. Examples of forward-looking statements include statements the company makes relating to potential dividends or share repurchases; future return of capital by Enact Holdings, Inc. (Enact Holdings), including share repurchases, and quarterly and special dividends; the cumulative economic benefit of approved and future rate increases and benefit reductions included in the multi-year in-force rate action plan and other reduced benefit options associated with the long-term care insurance products in the company’s Closed Block segment; planned investments in and the company’s outlook for new lines of business or new insurance and other products and services, such as those it is pursuing with its CareScout business (CareScout), including through its CareScout services business (CareScout Services) and its CareScout insurance business (CareScout Insurance); future financial performance, including the expectation that quarterly adverse variances between actual and expected experience could persist resulting in future remeasurement losses in the company’s Closed Block segment; any potential future judgment, recovery and/or payment amounts in connection with the AXA S.A. (AXA) and Santander Cards UK Limited (Santander) litigation, and Genworth’s planned use of proceeds from any potential recovery in connection with the litigation, including share repurchases, debt repurchases and investments in new businesses; future financial condition and liquidity of the company’s businesses; and statements the company makes regarding the outlook of the U.S. economy.

Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from those in the forward-looking statements due to global political, economic, inflation, business, competitive, market, regulatory and other factors and risks, including but not limited to, the following:

• the inability to successfully launch new lines of business, including long-term care insurance and other products and services the company is pursuing with CareScout;
• the company’s failure to maintain the self-sustainability of GLIC and its subsidiaries, collectively referred to as “Closed Block” or its “legacy insurance subsidiaries,” including as a result of the inability to achieve desired levels of in-force management actions and/or the timing of future premium rate increases and associated benefit reductions taking longer to achieve than originally assumed; other regulatory actions negatively impacting the company’s life insurance businesses;
• inaccuracies or changes in estimates, assumptions, methodologies, valuations, projections and/or models, which result in inadequate reserves or other adverse results (including as a result of any changes in connection with quarterly, annual or other reviews, including reviews the company expects to complete in the fourth quarter of 2026);
• the impact on holding company liquidity caused by an inability to receive dividends or any other returns of capital from Enact Holdings, and limited sources of capital and financing and the need to seek additional capital on unfavorable terms;
• the impact on any potential recovery and/or payment amounts in the AXA and Santander litigation resulting from a successful appeal (should permission for appeal be granted), significant delays or any other adverse development in the litigation;
• adverse changes to the structure or requirements of Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) or the U.S. mortgage insurance market; an increase in the number of loans insured through federal government mortgage insurance programs, including those offered by the Federal Housing Administration; the inability of Enact Holdings and/or its U.S. mortgage insurance subsidiaries to continue to meet the requirements mandated by PMIERs (or any adverse changes thereto), the inability to meet minimum statutory capital requirements of applicable regulators or the mortgage insurer eligibility requirements of Fannie Mae or Freddie Mac;
• changes in economic, market and political conditions, labor shortages and fluctuating interest rates; unanticipated financial events, which could lead to market-wide liquidity problems and other significant market disruption resulting in losses, defaults or credit rating downgrades of other financial institutions; deterioration in economic conditions, a recession or a decline in home prices, all of which could be driven by many potential factors, including a U.S. federal government shutdown; an increase in the cost of care impacting the company’s long-term care insurance products included in its Closed Block segment; changes in international trade policy, including the potential impact of new or increased tariffs, retaliatory policies or actions from other countries, and trade wars or other events that lead to political and economic instability; changes in government or monetary policies; changes within regulatory agencies; changes in immigration policy; and fluctuations in international securities markets;
• downgrades in financial strength and credit ratings and potential adverse impacts to liquidity; counterparty credit risks; defaults by counterparties to reinsurance arrangements or derivative instruments; defaults or other events impacting the value of invested assets, including private equity and private credit;
• changes in tax rates or tax laws, or changes in accounting and reporting standards;
• litigation and regulatory investigations or other actions, including commercial and contractual disputes with counterparties;
• the inability to attract, retain and motivate qualified employees or senior management, or the company’s succession plans not operating effectively;
• changes in the composition of Enact Holdings’ business or undue concentration by customer or geographic region;
• the impact from deficiencies in the company’s disclosure controls and procedures or internal control over financial reporting;
• the occurrence of natural or man-made disasters, including geopolitical tensions and war (including the Russian invasion of Ukraine, ongoing conflict between Iran and the United States, and economic competition between the United States and China, among others), a public health emergency, including pandemics, or climate change;
• the inability to effectively manage technology systems (including artificial intelligence), cyber incidents or other failures, disruptions or security breaches of the company or its third-party vendors, as well as unknown risks and uncertainties associated with artificial intelligence;
• the inability of third-party vendors to meet their obligations to the company;
• the lack of availability, affordability or adequacy of reinsurance to protect the company against losses;
• a decrease in the volume of high loan-to-value home mortgage originations or an increase in the volume of mortgage insurance cancellations, including as a result of a potential Federal Housing Finance Agency (FHFA)-directed pilot program in response to a recent executive order issued by the President of the United States;
• unanticipated claims resulting from Enact Holdings’ delegated underwriting and loss mitigation programs;
• the impact of medical advances such as genetic research and diagnostic imaging, emerging new technology, including artificial intelligence and related legislation; and
• other factors described in the risk factors contained in Item 1A of the company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 27, 2026.

The company provides additional information regarding these risks and uncertainties in its Annual Report on Form 10-K. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Accordingly, for the foregoing reasons, the company cautions the reader against relying on any forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required under applicable securities laws.

Footnote Definitions

View source version on businesswire.com: https://www.businesswire.com/news/home/20261104348528/en/

Investors:
Christine Jewell

InvestorInfo@genworth.com

Media:
Evans Mandes

Evans.Mandes@genworth.com

Source: Genworth Financial, Inc.

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