Genworth Financial says its long-term care insurance unit did well in the third quarter.

The Genworth Long Term Care unit is reporting $45 million in net operating income for the latest quarter on $809 million in revenue, up from compared with $17 million in net operating income on $785 in revenue for the third quarter of 2011.

In spite of the continuing low interest rate environment, net investment income increased to $266 million, from $244 million.

Excluding the effects of unusual adjustments, the LTCI loss ratio increased to 74 percent, from 71 percent. "Claim termination rates were favorable versus the prior quarter from higher mortality and recoveries, offset in part by a higher average reserve cost on new claims," the company said.

Individual LTCI sales increased to $63 million, from $54 million.

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Allison Bell

Allison Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health insurance editor. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached at [email protected] or on Twitter at @Think_Allison.