Genworth Financial

Provides insurance and financial services.

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Headquarters: 6620 West Broad St.
Richmond, VA 23230
Employees: 7,000
CEO: Michael Fraizer
Stock Symbol: GNW

Website: http://www.genworth.com

Career Site

Genworth Financial is one of the largest U.S. insurance and financial services holding companies. Genworth was spun off in 2004 from conglomerate General Electric as an independent company.

Genworth has five primary lines of business:

Mortgage Insurance
Provides a safe and affordable option for homebuyers who want to buy or refinance a home with less than a 20% down payment
on a mortgage loan while protecting lenders against borrower default. Mortgage insurance is also cancelable, tax deductible and offers pre/post-purchase support.
Life Insurance
Protects against financial losses resulting from the death of the insured person.
Long Term Care Insurance
Pays for a range of long term care expenses, such as those associated with in-home care, assisted living facilities and nursing homes.
Payment 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 accident, sickness, hospitalization or unemployment.
Annuities
A contract between an insurance company and an individual for an annual source of regular income. Individuals pay into their annuity contract and then receive payments over a specified time period.

Genworth operates through three business segments: Retirement and Protection, International, and U.S. Mortgage Insurance.
Richmond, VA is home to the company's world headquarters as well as the headquarters for Retirement and Protection. International headquarters are in Raleigh, NC and London, England. The U.S. Mortgage Insurance headquarters are also in Raleigh.

Genworth reported revenues of $11.1 billion in 2007. Net income was $1.22 billion.

History

Genworth's founding companies date to 1871, when The Life Insurance Company of Virginia wrote its first policy. During the past 135 years, we have built an extensive family of financially solid, well-respected insurance companies and distribution partnerships.

- In 1871, we wrote our first policy as Life of Virginia
- In 1955, we sold our first fixed life policy through independent brokerage
- In 1980, we wrote our first mortgage insurance policy
- For 24 years, we've provided universal life products
- For 30 years, we've provided long term care insurance
- For 33 years, we've provided payment protection insurance in Europe

Genworth went public in 2004 as a spin off of General Electric's financial and mortgage services.

Benefits

- Medical Benefits
- Dental Benefits
- Vision Benefits
- Life Insurance
- Pension Plan
- 401(k) Plan - 100% match on first 3%; 50% match on next 2% contributed; Immediate vesting
- Tuition Reimbursement
- 11 Holidays
- Choice Time Off: Includes vacation, sick and personal days; 20 days per year for 0-4 years of service; 25 days per year for 5-9 years of service; 30 days per year for 10-19 years of service; 35 days for 20 years or more; 40 days for 30 years of service

Updated August 5, 2008