Genworth Financial Inc. on Monday revived plans for an initial public offering (IPO) of Enact Holdings, aiming for a valuation of more than $3 billion for its mortgage insurance unit, according to a regulatory filing. The company had deferred the …
General Electric Co. has agreed to pay a $200 million penalty to settle charges for misleading investors over how it was generating earnings in its power and insurance businesses, the U.S. Securities and Exchange Commission said on Wednesday. GE’s shares …
Genworth Financial Inc. agreed to sell its Canadian unit to Brookfield Business Partners LP for C$2.4 billion ($1.8 billion) as it works to win regulatory approval for its acquisition by China Oceanwide Holdings Group Co. Brookfield Business Partners LP will …
A company has announced the layoff of about 80 employees, including 35 in a Virginia city. The News & Advance reported Monday that Genworth Financial announced the layoffs of 35 people in Lynchburg, Va., and 21 people in Richmond, Va. …
The closing deadline for China Oceanwide Holdings Group Co.’s proposed purchase of Genworth Financial Inc .has been extended for a second time, to April 1, to allow them to satisfy a U.S. review on foreign takeovers, they said on Wednesday. …
Mortgage insurance companies are getting a long-awaited shot at expanding their business with Fannie Mae and Freddie Mac. But it’s shaping up to be less lucrative than they had hoped. Freddie Mac on Monday planned to say it will start …
Genworth Financial Inc., the insurer battered by losses on long-term care coverage, has said it could pursue more divestitures to help pay down more than $500 million in debt maturing in 2018 as turmoil in the bond market shuts out …
Henrico County, Virginia-based insurance company Genworth Financial Inc. has announced it would eliminate 330 positions in a cost-cutting move. Media outlets report that the latest job cuts were disclosed on Friday, Feb. 5, after Genworth announced on Feb. 4 that …
Paris-based AXA has entered into exclusive negotiation with Genworth Financial to acquire 100 percent of Genworth Lifestyle Protection Insurance (Genworth LPI), for a total cash consideration of 475 million euros. Genworth LPI is the seventh largest creditor insurance player in …
Private equity firms Genstar Capital and Aquiline Private Equity LLC have teamed up and are in exclusive negotiations to buy Genworth Financial Inc.’s wealth management business and its San Francisco-based alternative investment business, two sources familiar with the situation said. …
