RICHMOND, Va., July 29, 2014 /PRNewswire/ -- Genworth
Financial, Inc. (NYSE: GNW) today announced that James R. Boyle, the company's executive vice
president and chief executive officer of its U.S. Life Insurance
Division, is leaving Genworth. He has accepted the position of
Chairman at HealthFleet, Inc., a healthcare technology
company. Tom McInerney,
Genworth president and chief executive officer (CEO), will also
serve as CEO of the U.S. Life Insurance Division effective
immediately.
"On behalf of the Board and the employees of Genworth, I'd like
to thank Jim for his thoughtful and steadfast leadership since
joining the company and wish him well," said Tom McInerney. "Under his leadership, the
U.S. Life Insurance Division made continued progress on its
turnaround plan, including improving the focus on our distribution
efforts and product development. The U.S. Life Insurance team
remains focused on driving further improvement across its
businesses."
McInerney added, "I have been working closely with Jim and his
team on developing the new Genworth LTC business model, as well as
working with government leaders and regulators to change the
regulatory framework for the LTC Insurance market. Therefore, the
Board and I believe it makes sense for me to assume the additional
role of CEO of the U.S. Life division at this time."
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 long term care insurance and mortgage insurance and
competitive offerings in life insurance and fixed annuities that
assist consumers in solving their insurance, retirement and home
ownership needs.
Genworth operates through three divisions: U.S. Life Insurance,
which includes life insurance, long term care insurance and fixed
annuities; Global Mortgage Insurance, containing U.S. Mortgage
Insurance and International Mortgage Insurance segments; and the
Corporate and Other division, which includes the International
Protection and Runoff segments. Products and services are offered
through financial intermediaries, advisors, independent
distributors and sales specialists. Genworth, headquartered in
Richmond, Virginia, 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. (TSX: MIC) and Genworth Mortgage Insurance
Australia Limited (ASX: GMA), separately release financial and
other information about their operations. This information can be
found at http://www.genworth.com.au and http://genworth.ca.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by words such
as "expects," "intends," "anticipates," "plans," "believes,"
"seeks," "estimates," "will" or words of similar meaning and
include, but are not limited to, statements regarding the outlook
for the company's future business and financial performance.
Forward-looking statements are based on management's current
expectations and assumptions, which are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. Actual outcomes and results may differ
materially due to global political, economic, business,
competitive, market, regulatory and other factors and risks.
The company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
SOURCE Genworth Financial, Inc.
