“Genworth Aims to Line Up Backup Financing Options,” by Allison Bell, ThinkAdvisor
 

 

Quote:

“Genworth Financial Inc. hopes to be part of China Oceanwide Holdings Group Co. Ltd. of Beijing by June 30, but it intends to shop for other sources of financing, just in case. … Genworth also has $1.1 billion in debt coming due in 2021. China Oceanwide has been trying to acquire Genworth for about four years. … China Oceanwide and Genworth’s latest deal deadline extension gives Genworth the flexibility to seek other strategic options, McInerney said. … McInerney reported that, since 2012, Genworth has requested, and received, permission from state insurance regulators to implement long-term care insurance premium increases with a net present value benefit to Genworth of $12.7 billion.”

 

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

The saga continues.