October 29, 2019 / 11:12 PM / a month ago

Genworth Mortgage Insurance Australia Q3 profit rises 29.9%

Oct 30 (Reuters) - Genworth Mortgage Insurance Australia Ltd on Wednesday posted a 29.9% rise in its third-quarter underlying net profit, citing improved conditions in the Australian property market.

Underlying net profit, which excludes one-off items, came in at A$26.5 million ($18.18 million) for the three months to Sept. 30, compared with A$20.4 million a year ago, the company said.

The company said its gross written premium rose 24.4% in the quarter thanks to growth in its traditional lenders mortgage insurance. ($1 = 1.4577 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Christian Schmollinger)

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