Genworth Strategic Review Update
A Message from Anthony Vossenberg
As valued distribution partners, I want to make sure you are
aware of some new developments related to Genworth’s strategic business review.
We’ve been assessing options related to our life insurance and annuity businesses. And while there was strong outside interest in these businesses, we have decided that a large-scale transaction was not in the best interests of our shareholders or the company. However, given the strong interest of potential buyers, we may pursue a couple of small and targeted life insurance block transactions.
With this new clarity, we are motivated to regain our momentum and move forward with you to grow sales. We will continue to provide a competitive, reliable and broad portfolio of products. Naturally, that also means being innovative in product design, features and benefits – finding ways to differentiate our offerings from our competitors.
Genworth is pleased to have introduced new and enhanced products like Asset Builder Index Universal Life II and SecureLiving® Growth+ with Income Choice Rider, and I am happy to share that the market reaction to our enhanced Privileged Choice® Flex 3 product has been positive – with illustrations up by nearly 300 percent last week.
Genworth remains financially strong – as of the end of second quarter 2015, Genworth’s U.S. Life Insurance Division is solidly capitalized across all of its businesses – with capital ratios in excess of regulatory required ratios. And our dedication to delivering the quality service and support you’ve come to expect from us is just as strong.
We continue to enhance our sales support, and I’m excited about a new tool – The LTC SourceSM – that you’ll be hearing more about soon. It complements our current tools, including The Index InstituteSM, product toolkits, sales concepts, our practice management program and more.
Our Sales team is ready to partner with you to grow sales. On behalf of Genworth, I want to thank you for your business and for placing your trust in us each time you choose Genworth to meet the needs of your producers and their clients.
Sincerely,
Anthony Vossenberg
President, Distribution
FOR PRODUCER/AGENT USE ONLY. NOT
TO BE REPRODUCED OR SHOWN TO THE
PUBLIC.
