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Genworth Hosts Retirement Income Symposium in Nation's Capital

Industry and Political Leaders Share Insights on Retirement Challenges

RICHMOND, Va., July 14 /PRNewswire-FirstCall/ -- More than 40 financial services industry leaders, representing major banks, wirehouses, fund companies and broker/dealers, recently attended a retirement income symposium, hosted by Genworth Financial (NYSE: GNW) in Washington, DC. The two-day event focused on the changing marketplace for retirement income, including demographics and mindsets of those reaching retirement age in the next 25 years, and emphasized political activities and regulatory issues impacting retirement security.

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"We are overwhelmed by the positive response we got from attendees who thanked us for giving them access to people and information they've not been exposed to," says Pam Schutz, president and CEO of Genworth Retirement Income and Investments. "There was a great deal of discussion around the changing perceptions of retirement and how Boomers are going to create a whole new vision of retirement, one that's more active by choice and lasts longer than ever before. What we heard from researchers, lobbyists, regulators, sociologists and political veterans reinforces the critical need for guaranteed retirement income. We have to help people move from a mindset focused solely on 'accumulation' to an approach that focuses on taking what they've accumulated through saving and investing and converting it to income for life."

Featured speakers at the Genworth Retirement Income Symposium included George Canty, Counsel to the Chairman of the U.S. House Education and Workforce Committee, who shared "A View From Capitol Hill on Pension Reform." William Shipman, chairman, CarriageOaks Partners addressed "Saving Social Security's Dream." Matthew Thornhill, president and founder of The Boomer Project shared "New Rules for Marketing to Boomers Over 50."

Warren Cormier, president of Boston Research Group, explored "The Opportunity for Annuities in Institutional Qualified Plans." Peter Walker, a director with McKinsey & Company, gave an overview of "The Changing Marketplace for Retirement." A panel discussion featuring representatives from the National Association of Securities Dealers (NASD) focused on regulatory updates and trends. Former Senators J. Robert Kerrey and John Breaux shared insights on the political process and issues surrounding social security reform. Breaux also gave perspectives on his current experiences as co-chair of the President's Advisory Panel on Federal Tax Reform.

About Genworth Financial

Genworth Financial's Retirement Income and Investments segment, based in Richmond, Virginia, is dedicated to helping families provide for their futures and achieve a reliable stream of retirement income. Our companies offer fixed, variable and income annuities; variable life insurance; asset management; and specialized products like guaranteed investment contracts, funding agreements and structured settlements. Our product suite supports distributors' financial planning models and its strong distribution network reaches nationwide.

Genworth (NYSE: GNW) is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 22 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information about Genworth Financial, visit

SOURCE Genworth Financial

CONTACT: Anna Gauthier of Genworth Financial, +1-804-289-3740, or