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Statutory earnings drove a consolidated risk-based capital ratio for Genworth Life Insurance Company, or GLIC, of 317% at the end of September, compared to 319% at the end of June and 303% at the ...
Strong statutory earnings drove a consolidated risk-based capital ratio for Genworth Life Insurance Company, or GLIC, of 319% at the end of June compared to 314% at the end of March.
In December 2015, the company sold Genworth Lifestyle Protection Insurance to Axa for €465 million. [32] In January 2016, Protective Life acquired parts of the company for $661 million. [33] [34] In February 2016, the company suspended sales of annuities and life insurance, putting the existing books of business into runoff. [35] [36]
A.M. Best downgraded ratings of life insurance subsidiaries of Genworth Financial but affirmed ratings of Genworth Financial with stable outlook.
BGA distribution continued as First Colony Life's primary life insurance and annuity sales channel with a sales force of more than 135,000 independent life insurance agents and brokers. On January 1, 2007, First Colony Life Insurance Company merged into Genworth Life and Annuity Insurance Company, a Genworth Financial company. [citation needed]
In October 2016 it was announced that the company was acquiring US long-term care insurance company Genworth Financial (via Asia Pacific Global Capital) for $2.7 billion. [4] However as of April 2018 the acquisition of Genworth had not yet gone through pending approval by CFIUS in the United States.