Genworth Shares Rise On UK Court Ruling That Could Lead to $750M Windfall

Dow Jones

07/26

By Nicholas G. Miller

Shares of Genworth Financial rose Friday after a U.K. court ruling in a payment protection insurance case that could lead to a $750 million windfall for the company.

The stock of the Richmond, Va.-based financial services company was up 7.9% to $7.92 and has risen 13% so far this year.

The ruling found the bank Santander liable for losses incurred by financial services company AXA resulting from Santander's mis-selling of payment protection insurance policies, Genworth said.

The policies were underwritten by two companies that AXA acquired from Genworth in 2015. Under previous agreements between the two companies, Genworth is entitled to a portion of the money that AXA recovers related to the mis-selling losses. That potentially entitles Genworth to $750 million, the company said.

Genworth said it would use the funds for investments, share buybacks and debt repayment.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

July 25, 2025 13:38 ET (17:38 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Under previous agreements between the two companies, Genworth is entitled to a portion of the money that AXA recovers related to the mis-selling losses. That potentially entitles Genworth to $750 million, the company said. \n</p>\n<p>\n  Genworth said it would use the funds for investments, share buybacks and debt repayment. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 25, 2025 13:38 ET (17:38 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SAN","symbol_name":"桑坦德銀行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2554079943","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2554079943","pubTimestamp":1753465080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Genworth Financial rose Friday after a U.K. court ruling in a payment protection insurance case that could lead to a $750 million windfall for the company.The stock of the Richmond, Va.-based financial services company was up 7.9% to $7.92 and has risen 13% so far this year.The ruling found the bank Santander liable for losses incurred by financial services company AXA resulting from Santander's mis-selling of payment protection insurance policies, Genworth said.The policies were underwritten by two companies that AXA acquired from Genworth in 2015. 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Miller\n\n\n \n\n\n  Shares of Genworth Financial rose Friday after a U.K. court ruling in a payment protection insurance case that could lead to a $750 million windfall for the company. \n\n\n  The stock of the Richmond, Va.-based financial services company was up 7.9% to $7.92 and has risen 13% so far this year. \n\n\n  The ruling found the bank Santander liable for losses incurred by financial services company AXA resulting from Santander's mis-selling of payment protection insurance policies, Genworth said. \n\n\n  The policies were underwritten by two companies that AXA acquired from Genworth in 2015. Under previous agreements between the two companies, Genworth is entitled to a portion of the money that AXA recovers related to the mis-selling losses. That potentially entitles Genworth to $750 million, the company said. \n\n\n  Genworth said it would use the funds for investments, share buybacks and debt repayment. \n\n\n \n\n\n  Write to Nicholas G. 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