Overview

Genworth is a leading provider of lenders mortgage insurance (LMI) in Australia. We also provide tailored risk and capital management solutions for lender customers in the Australian residential mortgage market that complement our traditional LMI product offering.

LMI has been an important part of the Australian residential mortgage lending market since it was introduced by the Australian Government in 1965.

LMI facilitates residential mortgage lending by transferring risk from lenders to LMI providers, predominantly for high loan-to-value ratio residential mortgage loans.

Genworth believes the provision of LMI to lenders has contributed to comparatively high levels of Australian home ownership and residential mortgage loan accessibility, supporting the housing market in Australia.

Genworth has commercial relationships with over 100 lenders across Australia, including three of the five major banks. Many of these relationships have spanned decades.