Genworth Financial says its long-term care insurance unit earned more in the second quarter of this year than in the second quarter of 2015.
The Richmond, Virginia-based insurer reported a total of $220 million in net income for the quarter on $2.2 billion in revenue, compared with a $193 million net loss on $2.2 billion in revenue for the year-earlier quarter.
Income from all continuing operations increased to $351 million, from $245 million.
The long-term care insurance unit generated $37 million in net operating income on $1.1 billion in revenue, up from $10 million in net operating income on $915 million in revenue.
Sales of individual long-term care insurance fell to $4 million, from $8 million in the second quarter of 2015.
Sales of group long-term care insurance increased to $2 million, from $1 million.