Genworth to realign corporate structure
January 17, 2013 by Allison Bell
Genworth Financial Inc. (NYSE:GNW) is trying to insulate its wealth and insurance business from the performance of its mortgage insurance business.
Genworth — a company that was spun off from GE Financial in 2005 — is now a parent company, or top-level “holding company” that happens to control a group of U.S. mortgage insurance companies, a group of European mortgage insurance companies, and wealth management and life insurance companies.
Genworth is a major player in the U.S. long-term care insurance (LTCI) market and the life insurance market as well as in the mortgage insurance market. Click here to read more…