Genworth (NYSE: GNW) is a leading Fortune 500 insurance company that is dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement — including life insurance, long term care insurance, financial protection coverages, and independent advisor-based wealth management — and mortgage insurance that helps consumers achieve homeownership while assisting lenders in managing their risk and capital.
Genworth has approximately 6,500 employees and operates through two segments: Insurance and Wealth Management and Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia, USA.
Outside the US, Genworth focuses on Lifestyle Protection and Mortgage Insurance, working with banks, brokers, advisers and other financial institutions. We opened our first European office in the United Kingdom in 1972. Today we have more than 800 employees in Europe with operations or business in excess of 20 countries.
Mortgage Insurance (MI) protects lenders and investors in the event that a mortgage borrower defaults on a loan and the proceeds of the sale of the property are insufficient to pay the outstanding debt. Our MI products enable lenders to provide the end borrower with earlier and potentially more affordable access to home ownership by allowing them to put down a lower deposit.
Lifestyle Protection Insurance
Lifestyle Protection Insurance helps consumers meet their payment obligations on outstanding financial commitments such as mortgages, personal loans or credit cards in the event of involuntary unemployment, illness, permanent disability or death. Our products provide lenders an additional source of revenue while our significant market diversification can help to reduce the risk of their loan portfolios.
For more information on Genworth, please visit our website.