Genworth Financial Inc(NYSE:GNW) Restructures Genworth MI Sales Team


Dallas, Texas 03/13/2014 (FINANCIALSTRENDS) – Genworth Financial Inc (NYSE:GNW) a financial security company based. Its unit Genworth Mortgage Insurance announced that sales team have restructured and expanded to provide a better service to the evolving needs of customer. This sales team will be grouped into 5 regions with respective regional vice presidents leading their teams to cater the needs of lenders and business strategies. To expand its business and attract more customers Genworth Mortgage Insurance lowered rates and expanded the guidelines. Genworth Financial Inc is one of the leading Fortune 500 Company US with market cap of $8.31B. It operates in 3 divisions, U.S. Life Insurance, comprising life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, covering U.S. Mortgage Insurance and International Mortgage Insurance segments; and the corporate and other division, which contains the International Protection and Runoff segments

Genworth Mortgage Insurance Part of Lobbying Association 

Genworth Mortgage Insurance (a unit Genworth Financial Inc) along with six other U.S. mortgage insurers have formed a lobbying association called U.S. Mortgage Insurers to raise and address challenges in housing-finance system. According to the Genworth Mortgage Insurance CEO the lobby will raise their concerns with the congress and ensure it is being address upon.

Genworth Financial Inc Shares Records 52-week high.

Driven by a solid fourth-quarter and full-year 2013 earnings results, the company’s shares touched a new 52-week high of $17.05. The company witnessed tremendous growth from U.S Mortgage Insurance (MI) and U.S. Life Insurance segments. The fourth-quarter earnings increased significantly by 27%. The company’s full year earnings for 2013 exceeded the Zacks Consensus Estimate by 12%. The total flow delinquencies dipped by 26%. The company’s reported loss mitigation savings of $563 million last year which exceeded the target of $250 million to $350 million thus predicting higher earnings for U.S. MI in 2014