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Genworth Financial Merges Three Life Insurance Companies Into Existing Genworth-named Companies

Mergers Become Effective January 1, 2007

RICHMOND, Va., Dec. 15 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) announced today it will merge three of its life insurance companies into existing Genworth-named insurance companies. These mergers complete Genworth's multi-year effort to brand its legal entities with the Genworth name and simplify its corporate structures.

Pending final regulatory approval, companies being merged as of January 1, 2007 are as follows:

  • First Colony Life Insurance Company will merge into Genworth Life and Annuity Insurance Company.


  • Federal Home Life Insurance Company will merge into Genworth Life and Annuity Insurance Company.


  • American Mayflower Life Insurance Company of New York will merge into Genworth Life Insurance Company of New York.

"These mergers will simplify our corporate structure, making it easier to do business with us and helping our distributors take full advantage of our significant brand-building commitment," said Michael D. Fraizer, chairman and chief executive officer.

Since becoming a public company in May of 2004, Genworth has moved steadily to consolidate its operations under the Genworth Financial brand. Genworth launched an extensive brand campaign at the time of the initial public offering of its shares and continued those efforts this year with its innovative "100+" campaign that celebrates the lives of centenarians.

Policyholder notification of these mergers, by letter, began on December 1. The changes do not affect terms and conditions of policies and contracts. All administrative and billing procedures currently in place are also unaffected. Policyholders and distributors with questions may call the toll- free service number located on their policy or our toll-free service number at 888 GENWORTH (888 436.9678).

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.

CONTACT: Tom Topinka of Genworth Financial, Inc.,
+1-804-662-2444, or
Thomas.Topinka@genworth.com