Key Developments: Genworth Financial Inc (GNW.N)
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$10.48
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1,001,370
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$11.13
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Latest Key Developments (Source: Significant Developments)
Ocwen Financial Corp Purchases Liberty Home Equity Solutions From Genworth Financial Inc
Ocwen Financial Corp announced that it has completed the purchase of Liberty Home Equity Solutions (Liberty) from Genworth Financial Inc. Liberty will continue to offer reverse mortgages through direct, wholesale and correspondent channels. Full Article
Ocwen Financial Corp Purchases Liberty Home Equity Solutions From Genworth Financial Inc
Ocwen Financial Corp announced that it has completed the purchase of Liberty Home Equity Solutions (Liberty) from Genworth Financial Inc. Liberty will continue to offer reverse mortgages through direct, wholesale and correspondent channels. Full Article
Genworth Financial Inc Announces Sale Of Wealth Management Business For Approximately $412.5 Million
Genworth Financial Inc announced that it has reached an agreement to sell its Wealth Management business, including Genworth Financial Wealth Management and alternative solutions provider, the Altegris companies, to a partnership of Aquiline Capital Partners and Genstar Capital. The sale price is expected to be approximately $412.5 million and the Company will record an after-tax loss of approximately $40 million related to the sale with approximately $35 million recorded in the first quarter of 2013 and the remainder upon closing. The sale is expected to close in the second half of 2013, subject to customary closing conditions, including requisite regulatory approvals. Proceeds from the transaction, net of transaction related expenses, will be held at the holding company and be used to address the 2014 debt at maturity or before. Full Article
Genworth Financial Inc Announces Sale Of Wealth Management Business For Approximately $412.5 Million
Genworth Financial Inc announced that it has reached an agreement to sell its Wealth Management business, including Genworth Financial Wealth Management and alternative solutions provider, the Altegris companies, to a partnership of Aquiline Capital Partners and Genstar Capital. The sale price is expected to be approximately $412.5 million and the Company will record an after-tax loss of approximately $40 million related to the sale with approximately $35 million recorded in the first quarter of 2013 and the remainder upon closing. The sale is expected to close in the second half of 2013, subject to customary closing conditions, including requisite regulatory approvals. Proceeds from the transaction, net of transaction related expenses, will be held at the holding company and be used to address the 2014 debt at maturity or before. Full Article
Genworth Financial Inc Names Thomas J. McInerney As President And Chief Executive Officer
Genworth Financial Inc announced that Board of Directors has selected Thomas J. McInerney as the Company's President and Chief Executive Officer, effective January 1, 2013. James S. Riepe will continue to serve as the Company's non-executive Chairman of the Board. Full Article
Genworth Financial Inc Names Thomas J. McInerney As President And Chief Executive Officer
Genworth Financial Inc announced that Board of Directors has selected Thomas J. McInerney as the Company's President and Chief Executive Officer, effective January 1, 2013. James S. Riepe will continue to serve as the Company's non-executive Chairman of the Board. Full Article
Genworth Financial, Inc. Announces Management Change
Genworth Financial, Inc. announced that Michael D. Fraizer, the company's Chairman and Chief Executive Officer, has resigned. The Board has named Martin P. Klein acting Chief Executive Officer and James S. Riepe Non-executive Chairman of the Board. Full Article
Genworth Financial, Inc. Announces Management Change
Genworth Financial, Inc. announced that Michael D. Fraizer, the company's Chairman and Chief Executive Officer, has resigned. The Board has named Martin P. Klein acting Chief Executive Officer and James S. Riepe Non-executive Chairman of the Board. Full Article
Genworth Financial, Inc. Announces New Timing For Planned Minority Initial Public Offering (IPO) Of Australian Mortgage Insurance Business
Genworth Financial, Inc. announced a new timeframe for completing its planned minority initial public offering (IPO) of up to 40% of its Australian mortgage insurance (MI) business. Genworth is seeking to complete the IPO in early 2013, subject to market conditions, valuation considerations including business performance, and regulatory approvals. The Australian MI capital ratio remains sound, and the Company is continuing the IPO regulatory review process. Genworth had previously targeted a second quarter 2012 IPO. Genworth's liquidity and risk buffer plans are not dependent on the IPO, with the holding company having approximately $1.4 billion in cash and liquid securities at March 31, 2012. Full Article
Genworth Financial, Inc. Announces New Timing For Planned Minority Initial Public Offering (IPO) Of Australian Mortgage Insurance Business
Genworth Financial, Inc. announced a new timeframe for completing its planned minority initial public offering (IPO) of up to 40% of its Australian mortgage insurance (MI) business. Genworth is seeking to complete the IPO in early 2013, subject to market conditions, valuation considerations including business performance, and regulatory approvals. The Australian MI capital ratio remains sound, and the Company is continuing the IPO regulatory review process. Genworth had previously targeted a second quarter 2012 IPO. Genworth's liquidity and risk buffer plans are not dependent on the IPO, with the holding company having approximately $1.4 billion in cash and liquid securities at March 31, 2012. Full Article
BRIEF-Genworth Financial shares up 4.9 pct premarket
NEW YORK, May 1 - Genworth Financial Inc : * Shares up 4.9 percent in premarket trading
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