Agreement in Principle Reached with New York Regulator Regarding Proposed Oceanwide Acquisition of Genworth's New York-Domiciled Insurance Company
Genworth Financial Inc (GNW)
Last genworth financial inc earnings: 10/29 05:10 pm
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Source: PR Newswire
RICHMOND, Va., March 2, 2020 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today announced that they have agreed in principle with the New York State Department of Financial Services (NYDFS) on conditions that are expected to facilitate a reapproval by the NYDFS of the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY). Genworth has agreed, among other things, to contribute $100 million to GLICNY at the closing of the Oceanwide transaction. The reapproval of the NYDFS remains subject to submission and approval of the documentation setting forth the agreed upon conditions. Oceanwide and Genworth are working to complete this process as soon as possible.In addition, the parties are providing supplemental information to certain U.S. insurance regulators to reflect the planned capital contribution to GLICNY at the closing of t
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GNW
Sec Filings
- 11/7/24 - Form 10-Q
- 11/6/24 - Form 8-K
- 10/29/24 - Form 13F-HR
- GNW's page on the SEC website