RICHMOND, Va., Jan. 15, 2016 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) (Genworth) announced today it has closed the previously announced sale of certain blocks of term life insurance to Protective Life Insurance Company. The transaction represents another action toward increasing Genworth's financial flexibility and strength by generating capital from low return blocks. Genworth will provide details regarding the transaction on its earnings conference call for the fourth quarter of 2015.
Goldman, Sachs & Co. and Willkie Farr & Gallagher LLP advised Genworth on this transaction.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. Genworth has leadership positions in mortgage insurance and long term care insurance and product offerings in life insurance and fixed annuities that assist consumers in solving their home ownership, insurance and retirement needs. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.
From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com. From time to time, Genworth's publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at http://genworth.ca and http://www.genworth.com.au.
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SOURCE Genworth Financial, Inc.