(Bloomberg) -- Genworth Financial Inc. jumped in earlytrading after losses at the long-term care unit were narrower thansome analysts had expected.

The insurer rallied 15 percent to $9 at 7:32 a.m. in New York.The Richmond, Virginia-based company had declined 8.1 percent thisyear through Tuesday.

Genworth posted a $760 million net loss, fueled by $478 millionin costs to add to reserves for long-term care policies that thefirm acquired before 1996, and set aside more funds at a New Yorkunit, the company said late Tuesday in a statement. Long-term carecoverage helps pay for home-health aides and nursing homestays.

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