Genworth to cut risk-to-capital ratio with new plan
Jan 16 (Reuters) - Genworth Financial Inc on Wednesday said it outlined a new mortgage insurance capital plan aimed at cutting the risk-to-capital ratio of its main mortgage insurance unit, Genworth Mortgage Insurance Co (GMICO), by 12 to 15 points.
As part of the new plan, Genworth will transfer ownership of its European mortgage insurance unit to GMICO, providing about $200 million in additional capital.
- Pope attacks mega-salaries and wealth gap in peace message
- Air strike kills 15 civilians in Yemen by mistake: officials
- Probation for drunk Texas teen driver who killed four sparks backlash
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |