New York Regulator Reapproves 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 24, 2020 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today announced that the New York State Department of Financial Services (NYDFS) has reapproved the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY). NYDFS' original approval expired in March 2019.In connection with the NYDFS' reapproval, Genworth has agreed, among other things, to contribute $100 million to GLICNY at the closing of the Oceanwide transaction. Genworth and Oceanwide have communicated the terms of the agreement with the NYDFS to Genworth's other domiciliary insurance regulators, and believe that these terms are acceptable to them as well. As previously disclosed, Oceanwide is working on providing responses to limited regulatory requests for additional information as promptly as possible. Given the ongoing challenges due to the coro
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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