Genworth Enters Into Negotiations With AXA To Sell Lifestyle Protection Insurance Business
July 29, 2015 by PR Newswire
Genworth Financial, Inc. (NYSE: GNW) announces it has entered into exclusive negotiations with AXA S.A. after receiving an irrevocable offer to purchase its lifestyle protection insurance business. The company expects to accept the offer and execute an associated purchase agreement upon completion of the French works council1 consultation process. The sale price is expected to be approximately $510 million2 and the company will record an after-tax loss of approximately $310 million2 in the second quarter of 2015 related to the expected sale and pension settlement costs. Click here to read…
Originally Posted at InsuranceNewsNet on July 22, 2015 by PR Newswire.
Categories: Industry Articles
