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Market Watch (Free subscription) | 07/11/2008
SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Friday lowered Genworth Financial Inc.'s long-term counterparty credit rating to A- from A. It also revised its outlook on Genworth's insurance subsidiaries to negative from stable and affirmed the companies' AA- counterparty credit and financial strength ratings. "The GNW downgrade reflects its increased funding needs...
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Business Wire (Free subscription) | 06/11/2008
OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has placed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-
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Market Watch (Free subscription) | 21/10/2008
SAN FRANCISCO (MarketWatch) -- Fitch Ratings said Tuesday it downgraded the issuer default rating of Genworth Financial Inc. to A- from A+, and the company's primary life insurance subsidiary insurer financial strength ratings to A+ from AA-. The outlook is negative. "The rating action on the life insurance companies primarily reflects Fitch's concerns over a significant decline in consolidated...
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The Big Picture (Free subscription) | 28/11/2008
Some interesting Friday links: After Citi, is Bank of America next? (Reuters) A government rescue plan has eased investors’ concerns about Citigroup Inc, but mines lurking in the balance sheets of rivals including Bank of America Corp could still tempt short-sellers. Bank of America, the No. 3 U.S. bank by assets, has loaded up on mortgages [...]
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Seattle Post-Intelligencer (Free subscription) | 21/11/2008
... are forcing some radical changes. Some insurers, including Hartford Financial Services Group Inc., Genworth Financial Inc. and Lincoln National Corp., are applying to the government to buy thrifts so they can qualify for some of the federal bailout money that's being injected into financial companies.Insurers and other financial institutions have been pressing the Securities...
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Market Watch (Free subscription) | 17/11/2008
NEW YORK (MarketWatch) -- Shares of insurer Genworth Financial Inc. rallied 25% in early trading in an otherwise weak financial sector after the company said it has applied to become a savings and loan. The move would make Genworth eligible for government funds under the Treasury Department's financial rescue package. Genworth also agreed in principle to acquire InterBank of Maple Grove,...
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Market Watch (Free subscription) | 17/11/2008
BOSTON (MarketWatch) -- Shares of insurer Genworth Financial Inc. rallied 25% in premarket trading Monday morning after the company said it has applied to become a savings and loan. The move would make Genworth eligible for government funds under the Treasury Department's financial rescue package. Genworth also agreed in principle to acquire InterBank of Maple Grove, Minn. Market Pulse...
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Offshore Services (Free subscription) | 17/11/2008
Life and mortgage insurer Genworth Financial Inc said on Sunday it applied for capital under a US government program after reaching a deal to buy a bank and requesting savings and loan company status.
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San Fransisco Chronicle (Free subscription) | 14/11/2008
Four insurance companies are asking the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program. Hartford Financial Services Group Inc., Genworth Financial Inc., Lincoln National Corp. and Aegon...
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The Minneapolis/St. Paul Business Journal (Free subscription) | 17/11/2008
InterBank has agreed to be sold to insurer Genworth Financial Inc. for an undisclosed amount. (GNW)
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Cafe Hayek (Free subscription) | 18/11/2008
Being a consummate nerd, when driving I often listen to WTOP radio in Washington; it's an all-news/sports/weather channel. At :25 and :55 after each hour WTOP runs a business report. Yesterday at 10:55am the business reporter noted that one company whose stock price was rising on what was generally a down day on Wall Street was Genworth Financial. The reporter noted that Genworth had announced...
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Law Blog - WSJ.com (Free subscription) | 18/11/2008
On Monday, two insurers, Genworth Financial Inc. and Lincoln National Corp., agreed to buy small savings-and-loan institutions in Maple Grove, Minn., and Goodland, Ind. And on Friday, Hartford Financial Services Group Inc. said it had struck a deal to purchase Federal Trust Corp., in Sanford, Fla.
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Dollars & Sense blog (Free subscription) | 15/11/2008
Several insurance and financial service companies are reportedly buying up small S&L's, for as little as $10 million, in order to qualify for billions of dollars from the TARP bailout fund. According to Bloomberg News , Hartford Financial Services Group Inc.,Genworth Financial Inc. and Lincoln National Corp. plan to buy lenders, a move that may entitle the three insurers to billions...
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InformedTrades (Free subscription) | 16/11/2008
NEW YORK (Reuters) - Life and mortgage insurer Genworth Financial Inc said on Sunday it applied for capital under a U.S. government program after...
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Dad29 (Free subscription) | 15/11/2008
They'll do it by buying a bank . Four insurance companies on Friday asked the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program. Hartford Financial Services Group Inc., Genworth Financial Inc., Lincoln National Corp. and Aegon NV, a Dutch company that owns U.S. insurer Transamerica , each asked the Office of...
