Genworth Financial, Inc (NYSE:GNW) Q2 2023 Earnings Conference Call August 9, 2023 9:00 AM ET

Company Participants

Sarah Crews - Investor Relations

Tom McInerney - President and Chief Executive Officer

Jerome Upton - Chief Financial Officer

Conference Call Participants

Joshua Esterov - CreditSights

Operator

Good morning, ladies and gentlemen and welcome to Genworth Financial’s Second Quarter 2023 Earnings Conference Call. My name is Karen and I will be your coordinator today. [Operator Instructions] I would now like to turn the presentation over to Sarah Crews, Director of Investor Relations. Please go ahead.

Sarah Crews

Good morning. Welcome to Genworth’s second quarter 2023 earnings call. A slide presentation that accompanies this call is available on the Investor Relations section of the Genworth’s website, investor.genworth.com. Our earnings release can also be found there and we encourage you to review these materials. Our quarterly financial supplement with updated information for prior periods will be made available at a later date.

Speaking today will be Tom McInerney, President and Chief Executive Officer; and Jerome Upton, Chief Financial Officer. Following our prepared remarks, we will open the call up for a question-and-answer period. In addition to our speakers, Brian Haendiges, President of our U.S. Life Insurance business and Kelly Saltzgaber, Chief Investment Officer, will also be available to take your questions.

During the call this morning, we may make various forward-looking statements. Our actual results may differ materially from such statements. We advise you to read the cautionary notes regarding forward-looking statements in our earnings release and related presentation as well as the risk factors of our most recent annual report on Form 10-K as filed with the SEC.

This morning’s discussion also includes non-GAAP financial measures that we believe may be meaningful to investors. In our investor materials, non-GAAP measures have been reconciled to GAAP where required in accordance with SEC rules. Also, references to statutory results are estimates due to the timing of the filing of the statutory statements.

And now, I will turn the call over to our President and CEO, Tom McInerney.

Tom McInerney

Thank you, Sarah. Good morning, everyone and thank you for joining our second quarter earnings call. Genworth continued to make progress against our three strategic priorities in the second quarter as we navigated a challenging economic environment. Most notably, I am pleased our Board authorized an additional $350 million in share repurchases, significantly expanding our existing program.