Genworth: 3 things for agents to know
February 9, 2016 by Allison Bell
Executives at Genworth Financial Inc. (NYSE:GNW) see continuing to sell long-term care insurance (LTCI) as an important part of efforts to turn the company around.
Tom McInerney, the company’s president, talked on Friday about the value of continuing to sell LTCI with securities analysts during a conference call the company held to go over fourth-quarter earnings.
Genworth announced Thursday that the company as a whole lost $240 million in the fourth quarter on $2.2 billion in revenue. That compares with a net loss of $708 million, on $2.2 billion in revenue for the fourth quarter of 2014.
Genworth executives said Friday that they will try to improve the performance of the company, and build shareholder value, by realigning the U.S. life business, discontinuing the sale of life and annuity products, and marketing LTCI. Click HERE to read more…