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.
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- New Jersey hiker killed by black bear : police
- Islamic State urges attacks on U.S., French citizens, taunts Obama
- Housing data hits Wall Street; S&P has worst day since August 5 |