RICHMOND, Va., Jan. 15, 2016 /PRNewswire/ -- Genworth
Financial, Inc. (NYSE: GNW) (Genworth) announced today it has
closed the previously announced sale of certain blocks of term life
insurance to Protective Life Insurance Company. The transaction
represents another action toward increasing Genworth's financial
flexibility and strength by generating capital from low return
blocks. Genworth will provide details regarding the transaction on
its earnings conference call for the fourth quarter of 2015.
Goldman, Sachs & Co. and Willkie
Farr & Gallagher LLP advised Genworth on this
transaction.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500
insurance holding company committed to helping families become more
financially secure, self-reliant and prepared for the future.
Genworth has leadership positions in mortgage insurance and long
term care insurance and product offerings in life insurance and
fixed annuities that assist consumers in solving their home
ownership, insurance and retirement needs. Headquartered in
Richmond, Virginia, Genworth
traces its roots back to 1871 and became a public company in 2004.
For more information, visit genworth.com.
From time to time, Genworth releases important information via
postings on its corporate website. Accordingly, investors and other
interested parties are encouraged to enroll to receive automatic
email alerts and Really Simple Syndication (RSS) feeds regarding
new postings. Enrollment information is found under the "Investors"
section of genworth.com. From time to time, Genworth's
publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth
Mortgage Insurance Australia Limited, separately release financial
and other information about their operations. This information can
be found at http://genworth.ca and
http://www.genworth.com.au.
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SOURCE Genworth Financial, Inc.