“Genworth Faces Deal Resistance in Delaware,” by Allison Bell, ThinkAdvisor

“Genworth Financial Inc. says the Delaware Department of Insurance is one of the regulatory agencies slowing its efforts to sell itself to China Oceanwide Holdings Group Ltd. Genworth needs a large amount of cash to handle debts maturing in May. Because regulators are taking so long to approve the China Oceanwide deal, and delaying Genworth’s access to the cash infusion the deal would provide, Genworth will have to try to get secured debt financing, the company says.”

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

Is there no length to which government won’t go to stymie LTC insurance?

Genworth Faces Deal Resistance in Delaware

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