Genworth sells Medicare supplement to strengthen remaining business
A Richmond, Va.-based insurance holding company announced its agreement to sell for $290 million its Medicare supplement business and related blocks of in-force business.
Genworth Financial agreed to sell its Medicare business to Aetna, based in Hartford, Conn., in a transaction expected to close in this year’s fourth quarter, subject to customary closing conditions and adjustments, and regulatory approvals.
Genworth said it anticipates the transaction to result in a total capital available for redeployment to be about $240 million. T


Get the updates here: