Assessing GMA as a high yield opportunity
We recently reviewed Genworth Mortgage Insurance Australia (ASX:GMA) after the Company reported its results for the six months to 30 June 2019 (1H19). While the financial performance has been mixed in recent periods, we assessed the GMA’s credentials as a yield play. By way of background, the Company is the leading provider of Lenders Mortgage Insurance (LMI) in the Australian residential mortgage lending market. It has an estimated market share of approximately 31% of the Australian high loan-to-value ratio mortgage …