May 1, 2012 / 9:25 PM / 5 years ago

UPDATE 1-Genworth MI Canada profit up on higher gains on investments

May 1 (Reuters) - Residential mortgage insurer Genworth MI Canada Inc’s quarterly profit rose, helped in part by higher net gains on investments.

For the January-March quarter, the company earned C$81 million, or 82 Canadian cents per share, compared with C$80 million, or 75 Canadian cents per share, a year ago.

Net premiums earned fell 5 percent to C$147 million.

Net gains on investments rose 100 percent to C$6 million.

Shares of the company, which has a market capitalisation of about C$2 billion, closed at C$20.58 on Tuesday on the Toronto Stock Exchange.

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