RICHMOND, Va., Nov 08, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Genworth Financial, Inc.
(NYSE: GNW), today announced that it has agreed to repurchase more than 9
million shares of common stock at a price of $32 per share in a privately
negotiated transaction.
"We are pleased to complete our existing repurchase program, demonstrating
our focus on disciplined capital management," said Michael D. Fraizer,
chairman and chief executive officer. "With this transaction we will have
repurchased $1 billion of common stock in 2006 and we will evaluate additional
repurchase authority as we go forward."
About Genworth Financial
Genworth 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 24 countries. For more
information, visit http://www.genworth.com.
SOURCE Genworth Financial, Inc.
Investors: Alicia Charity, +1-804-662-2248,
Alicia.Charity@genworth.com, or
Media:
Phil Moeller, +1-804-662-2534,
Philip.Moeller@genworth.com,
both of Genworth
Financial, Inc.
http://www.genworth.com
