AXAHF - Genworth Financial: Enact's IPO As A Catalyst

• GNW's mortgage insurance segment has grown significantly, and the positive housing outlook provides a bullish scenario for Enact's growth prospects.
• The management waits for better entry timing for the planned IPO until forbearance plan expirations in September and October clear up the operating environment.
• Enact's current Net Assets amount to $4.09 billion implying a current rock-bottom valuation of $814 million for its 19.9% stake.
• The IPO of Enact remains the catalyst for GNW's improving liquidity position that will unlock shareholders' value and drive its share price upwards.

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