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Genworth Financial Reaches Agreement to Sell Genworth Seguros Mexico, S.A. de C.V. to HDI-Gerling International Holding AG


Genworth Financial continues its presence in Mexico with Lifestyle Protection and Mortgage Insurance

MEXICO, D.F., Jan. 22 /PRNewswire-FirstCall/ -- Genworth Financial (NYSE: GNW) has signed an agreement with HDI-Gerling International Holding AG to sell Genworth Seguros Mexico, S.A. de C.V. The acquisition includes the automobile, property and casualty, life and personal accident insurance business lines that Seguros distributes through independent professional insurance agents.

"This transaction allows Genworth to focus on its core businesses in Mexico - specifically Lifestyle Protection Insurance and Mortgage Insurance," said Alejandro Rivero-Andreu , President of Genworth Financial in Mexico.

Lifestyle Protection Insurance maintains customers' monthly repayments on financial commitments such as mortgages, personal loans, and credit cards if they are unable to make payments due to involuntary unemployment, accident, sickness or hospitalization. Mortgage Insurance provides a safe and affordable option for homebuyers who want to buy a home with less than a 20 percent down payment on a mortgage loan while protecting lenders against borrower default.

Genworth is well capitalized to continue growing and maintaining an active market share in Mexico. "We will focus on the Mortgage Insurance and Lifestyle Protection Insurance businesses where we have specialized in the past and have significant global experience," said Rivero-Andreu. "We believe that under HDI-Gerling International Holding AG's management, Genworth Seguros in Mexico will remain a strong and successful business." Based in Leon, Genworth Seguros employs approximately 340 associates across Mexico.

HDI-Gerling International Holding AG has filed the initial proceedings to obtain the corresponding approvals from the Secretary of the Treasury and Public Credit, and the National Insurance and Bonding Commission. Genworth expects that closing will take place following regulatory approvals.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operates through three segments: Retirement & Protection, US Mortgage Insurance and International. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to our plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts as well as statements identified by words such as expects, anticipates, intends, plans, believes, seeks, estimates, or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE Genworth Financial, Inc.
CONTACT: Investors: Alicia Charity , +1-804-662-2248,or Media: Manuel Somoza 5255-3000-6148, both of Genworth Financial, Inc.
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