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Genworth MI Canada Inc. (T:MIC)

Business Focus: Property Insurance

INK Edge Outlook

Insider Chart - Past 6 Months

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Insider Filings

Latest 10 SEDI filings for MIC within the last 6 months
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Company News

Dec 12, 2019 10:08 ET
Genworth MI Canada Inc. acknowledges closing of Genworth Financial, Inc. sale of majority interest to Brookfield Business Partners
TORONTO, Dec. 12, 2019 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: MIC) acknowledges closing of the previously announced sale of Genworth Financial, Inc.'s majority interest in the Company to Brookfield Business Partners L.P., together with its institutional partners (the "Transaction").
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Dec 09, 2019 16:07 ET
Genworth MI Canada Inc. Acknowledges Announcement by Genworth Financial, and Brookfield Business Partners L.P. of Regulatory Approval for Sale of Genworth Financial Stake
TORONTO, Dec. 9, 2019 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: MIC) acknowledges the announcements today by Genworth Financial, Inc. ("Genworth Financial") and Brookfield Business Partners L.P. ("Brookfield Business Partners") that Brookfield Business Partners together with its institutional partners has received approval under the Insurance Companies Act (Canada) to purchase Genworth Financial's majority interest in the Company and they expect to close the transaction on December 12, 2019.
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Valuation Ratios

Industry
Sector
Beta
1.39
--
--
Price to Sales - TTM
6.10
6.10
7.68
Price to Book - most recent quarter
1.23
1.23
1.44
Price to Cash Flow per share - TTM
12.32
12.32
11.07
Price to Free Cash Flow per share - TTM
14.40
14.40
18.22
See all valuations

Short Report

DateNumber of Shares ShortedNet Change
Nov 30, 20191,177,573-9,467
Nov 15, 20191,187,0409,813
Oct 31, 20191,177,227-8,111
See Short Report

Business Summary

Sector:  Financials Industry:  Property & Casualty Insurance

Genworth MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, operates as a private-sector residential mortgage insurer. The Company provides mortgage default insurance to Canadian residential mortgage lenders. It underwrites mortgage insurance for residential properties in various provinces and territories of Canada. The Company offers both transactional and portfolio mortgage insurance. Its transactional mortgage insurance covers default risk on mortgage loans secured by residential properties to protect lenders from any resulting losses on claims. It also provides portfolio mortgage insurance to lenders for loans with loan-to-value ratios of 80% or less. Under mortgage insurance, it serves originators of residential mortgage loans, such as banks, mortgage loan and trust companies, and credit unions. It works with lenders, mortgage brokers and real estate agents across Canada to make homeownership accessible for first-time homebuyers.

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