Genworth Sees MI Unit Losing Money in '08

Genworth Financial -- which owns the nation's fifth-largest mortgage insurer -- says its profit for next year will miss analysts' expectations because of the housing slump.At a recent investor conference, the company said its mortgage insurance division could lose up to 25 cents a share. Genworth's MI group has enjoyed a reputation for being one of the most conservatively managed insurers in the business. Genworth executives have forecast 2008 operating earnings of $2.65 to $3.15 per share for the entire company. Analysts, on average, had forecast 2008 earnings of $3.20 per share. Genworth can be found on the Web at http://www.genworth.com.