$GNW (Genworth Financial, Inc.)

$GNW {{ '2015-08-05T12:16:36+0000' | timeago}} • Webcast

$GNW 2Q15 Call: Long-term care earnings were negatively impacted by higher severity on new claims and lower terminations on existing claims. Life and annuity earnings were down sequentially reflecting less favorable mortality than in 1Q15. Flow new insurance written was strong across our three primary mortgage insurance platforms.

$GNW {{ '2017-05-01T11:00:51+0000' | timeago}} • Announcement

$GNW and China Oceanwide Holdings Group withdrawn and re-filed their joint voluntary notice to the Committee on Foreign Investment in the U.S. (CFIUS) to permit more time for review and discussion with CFIUS in connection with proposed merger between $GNW and Oceanwide contemplated under the merger agreement signed by the parties on Oct. 21, 2016.

$GNW {{ '2017-02-08T12:31:22+0000' | timeago}} • Announcement

Insurance holding company $GNW 4Q16 net loss narrowed to $122MM, or $0.25 per share, compared to net loss of $292MM, or $0.59 per share in 4Q15. Total revenue during the quarter was $2.2Bil. Adjusted operating loss was $0.27 per share during 4Q16.

$GNW {{ '2016-10-24T13:43:04+0000' | timeago}} • Announcement

$GNW said that its has agreed to being acquired by China Oceanwide Holdings Group Co., Ltd. Under the agreement China Oceanwide will acquire all of the outstanding shares of $GNW for a total transaction value of approx. $2.7Bil, or $5.43 per share in cash, subject to approval by $GNW's stockholders and other closing conditions.

$GNW {{ '2016-10-24T13:39:10+0000' | timeago}} • Announcement

$GNW announced it expects to increase Long Term Care Insurance claim reserves by approx. $400-450MM pre-tax resulting in an after-tax charge to earnings of $260-300MM for 3Q16. The company also expects to record a non-cash charge of $275-325MM, primarily related to deferred tax assets that are not expected to be utilized before their expiration.

$GNW {{ '2016-10-24T10:56:05+0000' | timeago}} • Announcement

$GNW agreed to be acquired by privately-held China Oceanwide Holdings Group. Separately, $GNW announced preliminary charges unrelated to this transaction of $535-625MM after-tax associated with long term care insurance (LTC) claim reserves and taxes.

$GNW {{ '2016-10-24T10:54:30+0000' | timeago}} • Announcement

China Oceanwide Holdings Group agreed to buy $GNW. China Oceanwide has additionally committed to contribute to $GNW $600MM of cash to address debt maturing in 2018, on or before its maturity, as well as $525MM of cash to the U.S. life insurance businesses.

$GNW {{ '2016-10-24T10:52:14+0000' | timeago}} • Announcement

China Oceanwide Holdings Group agreed to buy $GNW for total transaction value of about $2.7Bil or $5.43 per share in cash. The acquisition will be completed through Asia Pacific Global Capital, one of China Oceanwide's investment platforms. The transaction, which has been approved by both companies' BoDs, is expected to close by the middle of 2017.

$GNW {{ '2016-08-04T19:01:39+0000' | timeago}} • Announcement

$GNW's operating segment Genworth Mortgage Insurance said it appointed Evan Stolove as its General Counsel and Senior Vice President with oversight of Genworth Mortgage Insurance’s Legal and Compliance division.

$GNW {{ '2016-03-21T11:55:48+0000' | timeago}} • Announcement

Genworth Holdings, a part of $GNW, said that it received & accepted the requisite consents regarding its consent solicitation for outstanding notes. As of expiration time March 18, the company received the consent of holders of at least a majority in aggregate principal amount outstanding of each series of notes outstanding under its indentures.

$GNW {{ '2016-03-21T11:32:12+0000' | timeago}} • Announcement

$GNW expects to pay the consent fees on March 22. Company expects total fees related to the consent solicitation to be about $65MM, inclusive of consent, broker, adviser and investment banking fees.

$GNW {{ '2016-03-21T11:31:00+0000' | timeago}} • Announcement

Genworth Holdings, a subsidiary of $GNW, said it has received and accepted the required consents regarding its consent solicitation proposing changes to the indentures ruling its outstanding notes. The solicitation expired on March 18. At the expiration time, company had received consent of holders of a majority of each series of notes outstanding.

$GNW {{ '2016-03-15T12:28:51+0000' | timeago}} • Announcement

$GNW's subsidiary, Genworth Mortgage Insurance, has partnered with Roostify, a web/mobile platform that accelerates the home buying process. The platform helps consumers submit an application in under 20 minutes. It serves as a networking tool, allowing loan officers, real estate agents, underwriters and consumers to interact in one digital hub.

$GNW {{ '2016-03-15T11:48:53+0000' | timeago}} • Announcement

$GNW's unit Genworth Mortgage Insurance said it forged exclusive partnership with Roostify, a web and mobile platform that streamlines and accelerates the home buying process. Roostify's platform gives consumers power to submit complete and accurate application in under 20 minutes, allowing loan officers to spend more time on closing loans.

$GNW {{ '2016-03-14T05:24:55+0000' | timeago}} • Announcement

$GNW's settlement payment is expected to be made into an escrow account in 1Q16. Company expects to incur additional legal fees and accruals of about $10MM pre-tax in 1Q16 related to the litigation on amounts previously accrued and expensed.

$GNW {{ '2016-03-14T05:22:48+0000' | timeago}} • Announcement

$GNW reported that the settlement will include full release of all defendants related to the allegations made in the lawsuit. As per the agreement, company will pay $219MM, of which $150MM will be paid by its insurance carriers and $69MM pre-tax will be paid by company.

$GNW {{ '2016-03-14T05:21:41+0000' | timeago}} • Announcement

$GNW said it has agreed to settle the action In re $GNW Securities Litigation pending in the US District Court for the Eastern District of Virginia. Plaintiffs had alleged securities law violations by $GNW, its CEO and former CFO. Company believes the claims are without merit, but is settling to avoid risk and expense of further litigation.

$GNW {{ '2016-03-08T12:15:50+0000' | timeago}} • Announcement

Insurance holding company $GNW said its subsidiary Genworth Mortgage Insurance has simplified its Borrower Paid Mortgage Insurance (BPMI) premium structure. The new BPMI rate card features reduced rates across all loan-to-value ratios for borrowers with credit scores of 740 and results in weighted-average rates consistent with the existing card.

$GNW {{ '2016-02-29T06:12:43+0000' | timeago}} • Announcement

$GNW reported risk-based capital ratio for GLICNY of 458%, for Genworth Life and Annuity Insurance Company (GLAIC) of 596%, and consolidated US life insurance company of 393% as of end 2015. The unassigned surplus was a negative $329MM for consolidated US life insurance Company.

$GNW {{ '2016-02-29T06:11:31+0000' | timeago}} • Announcement

$GNW said 2015 long term care (LTC) insurance statutory margins were stable in Genworth Life Insurance Company and Brookfield Life and Annuity Insurance Company, with positive total margin of about $2.0-2.5Bil. LTC statutory cash flow testing for Genworth Life Insurance Company of New York (GLICNY) resulted in a negative margin of about $355MM.

$GNW {{ '2016-02-22T12:14:10+0000' | timeago}} • Announcement

Insurance company $GNW said it has launched the IncomeAssuranceSM Immediate Need Annuity, a medically underwritten single premium immediate annuity, designed to help people age 70 or older with adverse health conditions offset the potentially high costs of care with a guaranteed source of monthly income they cannot outlive.

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