Genworth Mortgage Insurance shares have dipped as much as six per cent after its second largest customer signalled its intention to stop exclusively offering its products.
Genworth, which had already warned investors of the possible exit, said in a statement to the ASX that the unnamed customer is terminating its exclusivity contract from April 8.
Shares in Genworth fell as much as 18 cents in early trade on Friday.
At 1155 AEDT, they were still down six cents, or 2.12 per cent, at $2.77.
The lenders mortgage insurance covered by the contract represents about 14 per cent of Genworth's gross written premium, but the move does not affect its full-year guidance of a 10 to 15 per cent decline in gross written premium.
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