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.
- Merkel says tightening Ukraine-Russian border is key to peace deal |
- China rejects U.S. criticism over jet encounter
- Protesters mark two weeks since police shooting in Ferguson, Missouri |
- U.S. hostage rescuers dropped from night sky: Syria activist
- Gaza gunmen execute 'collaborators'; mortar kills Israeli boy |