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
