“Genworth Paid $10 Million in Q2 COVID-19 Life Insurance Claims”

Genworth Paid $10 Million in Q2 COVID-19 Life Insurance Claims,” by Allison Bell, ThinkAdvisor

 

 

Quote:

“Genworth Financial paid $10 million in COVID-19-related life insurance claims in the second quarter. … Genworth is not giving details about the effects of COVID-19 on the performance of the LTCI unit, but it did say an increase in deaths improved the unit’s performance. … China Oceanwide Holdings Group Co. Ltd. of Beijing has been trying to acquire Genworth for years. The companies now have all needed U.S. approvals and reapprovals. Tom McInerney, Genworth’s chief executive officer, said that the new hurdle is that, because completing the deal has taken so long, China Oceanwide has to renew the funding arrangements it lined up back in 2018.”

 

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

Lots of Genworth news on several fronts.