|We are a publicly traded global financial security company with more than $100 billion in assets and a presence in more than 25 countries. We’re recognized in Standard & Poor’s 500 Index of Leading U.S. companies and ranked in the Fortune 500.|
|Working with our distribution partners, we help people at key stages in their life through a wide-array of innovative products and financial services. From protecting and growing retirement income, to creating security through life, long term care and Medicare supplement insurance, to wealth management offerings and financial advisory services, to providing a safer, more secure path to homeownership, Genworth will be here to help provide financial security solutions.|
|We’re proud of our worldwide employees who apply their diverse talents and dedication to make a positive difference in people’s lives while helping to protect against life’s uncertainties. They bring a special knowledge of what’s important to help millions of people experience the joys and security of financial freedom. This same level of caring inspires their commitment to enhance the quality of life in the communities in which we live and work through a combination of volunteerism, community partnerships and charitable contributions. That’s why we work hard to support our employees by fostering a motivating, challenging and dynamic environment.|
Your Own Home
We help make dreams come true for families by providing mortgage insurance in many countries. Mortgage insurance helps people secure low down-payment loans to purchase their own homes – many for the first time.
Your Family’s Peace of Mind
A sound financial plan includes life insurance to help protect your loved ones. Term life insurance helps provide foundational financial security. One feature of universal life insurance allows you to build cash value to help meet unexpected future financial needs. Life insurance can also be useful in business succession plans, wealth transfer strategies and estate planning.
Total Living Coverage SM â€“ Universal Life and Long Term Care Insurance
Total Living Coverage includes two types of protection â€“ long term care and universal life insurance, all rolled into one package. Total Living Coverage provides a pool of benefit dollars for covered long term care expenses, a death benefit for beneficiaries, or both.
We provide Lifestyle Protection to customers throughout Europe. Lifestyle Protection customers meet their payment obligations on outstanding financial commitments, such as mortgages, personal loans or credit cards, in the event of a misfortune such as illness, involuntary unemployment, temporary incapacity, permanent disability or death.
Genworth Financial companies offer a variety of annuity options for those who want to build a future using tax-deferred products. Annuities allow you the opportunity to build wealth and receive regular income at a later date of your choosing. We offer innovative individual and group annuities that provide people with paychecks they canâ€™t outlive.
Group Variable Annuity â€“ ClearCourseSM
ClearCourse is an investment option within a companyâ€™s 401(k) plan that is designed to help people enjoy a more carefree retirement by providing income that is guaranteed for life. All guarantees are based on the claims-paying ability of Genworth Life and Annuity Insurance Company.
As investment advisors, we work with investment professionals nationwide to provide clients with innovative investment solutions, comprehensive and flexible enough to meet their needs today as well as in the future.
Long Term Care Insurance
As we reach retirement years, many of us may require extended care either in a hospital or at home. Long term care insurance can help make sure you have the financial resources to cover the extra associated costs. We offer a variety of options to individuals and groups, so you won’t have to rely on family and friends when an unexpected illness strikes or the need for at-home assistance arises.
Medicare Supplement Insurance
Medicare Supplement Insurance (also called Medigap) is a health insurance policy sold by a private insurance company to help fill the â€œgapsâ€ in the original Medicare plan. While Medicare provides valuable coverage for health related expenses, it leaves holes that you will either pay for out-of-pocket or with private insurance.
Financial strength ratings provided by independent organizations.
A.M. Best, S&P, Moody’s, Fitch and DBRS review their ratings periodically and we cannot assure you that we will maintain our current ratings in the future.Â These and other agencies may also rate our company or our insurance subsidiaries on a solicited or an unsolicited basis.Â Ratings are not designed to be, and do not serve as, measures of protection or valuation offered to investors.Â These financial strength ratings should not be relied on with respect to making an investment in our securities.Â Â Each of the followingÂ organizations use a different ranking system to rate insurers; they are not equivalent to one another. See the information below about Rating Categories to learn more.
Ratings current as of 2/2/2011
Our principal life insurance subsidiaries are rated by A.M. Best, Standard and Poor’s, Moody’s and Fitch as follows:
|Company||A.M. Best||Standard & Poor’s||Moody’s||Fitch|
|Genworth Life Insurance Company||A||A||A2||A-|
|Genworth Life Insurance Company|
|Genworth Life and Annuity Insurance Company||A||A||A2||A-|
|Genworth Life and Annuity Insurance Company|
|Genworth Life Insurance Company of New York||A||A||A2||A-|
|Continental Life Insurance Company of Brentwood, Tennessee||A-||N/A||N/A||A-|
|American Continental Insurance Company||A-||N/A||N/A||N/A|
Genworth Life and Annuity Insurance Company, Genworth Life Insurance Company and Genworth Life Insurance Company of New York ratings do not apply to the safety or performance of underlying portfolios of variable products, which will fluctuate and could lose value.
Our principal Lifestyle Protection insurance subsidiaries are rated by Standard and Poor’s as follows:
|Company||Standard & Poor’s|
|Financial Assurance Company Limited||A-|
|Financial Insurance Company Limited||A-|
Our mortgage insurance subsidiaries are rated by Standard and Poor’s and Moody’s as follows:
|Company||Standard & Poor’s||Moody’s|
|Genworth Mortgage Insurance Corporation||BB+||Baa2|
|Genworth Financial Mortgage Insurance Pty Limited (Australia)||AA-||A1|
|Genworth Financial Mortgage Insurance Limited (Europe)||BBB||Baa3|
|Genworth Residential Mortgage Insurance Corporation ofÂ NC||BB+||Baa2|
|Genworth Financial Mortgage Insurance Company Canada (1)||AA-||N/A|
|Genworth Seguros de Credito a la Vivienda S.A. de C.V.||mxAA||Aa3.mx|
(1)Genworth Financial Mortgage Insurance Company Canada is also ratedÂ by Dominion Bond Rating Services (DBRS). The DBRS rating is “AA”.
A.M. Best states that itsÂ “A” (Excellent)Â and “A-” (Excellent) ratings are assigned to companies that have, in its opinion, an excellent ability to meet their ongoing insurance obligations. The “A” (Excellent)Â and “A-” (Excellent) ratings are the third- and fourth-highest of fifteen ratings assigned by A.M. Best, which range from “A++” to “F.”
S&P states that an insurer rated “AA” (Very Strong) has very strong financial security characteristics that outweigh any vulnerabilities, and is highly likely to have the ability to meet financial commitments. Insurers rated “A” (Strong), “BBB” (Good), or “BB” (Marginal)Â haveÂ strong, good, or marginalÂ financial security characteristics, respectively. The “AA”, “A”, “BBB”Â and “BB” rangesÂ are the second-, third-, fourth- and fifth-highest of nine financial strength rating ranges assigned by S&P, which range from “AAA” to “R.” A plus (+) or minus (-) shows relative standing in a rating category.Â These suffixes are not added to ratings in the “AAA” category or to ratings below the “CCC” category. Accordingly, the “AA-“, “A”, “A-“, “BBB” and “BB+” ratings are theÂ fourth-, sixth-, seventh-,Â ninth- and eleventh-highest of S&P’s 21 ratings categories. The short-term “A-1” rating is the highest rating and shows the capacity to meet financial commitments is strong. An obligor rated “mxAA” has a very strong capacity to meet its financial commitments relative to that of other Mexican obligors. The “mxAA” rating is the second-highest enterprise credit rating assigned on S&P’s CaVal national scale.
Moody’s states that insurance companies rated “A” (Good) offer good financial security andÂ those rated “Baa” (Adequate) offer adequate financial security. The “A”Â (Good) and “Baa” (Adequate) rangesÂ are the third- and fourth-highest, respectively,Â of nine financial strength rating ranges assigned by Moodyâ€™s, which range from “Aaa” to “C.” Numeric modifiers are used to refer to the ranking within the groups, with 1 being the highest and 3 being the lowest.Â These modifiers are not added to ratings in the “Aaa” category or to ratings below the “Caa” category. Accordingly, theÂ “A1”, “A2”, “Baa2”, and “Baa3″Â ratingsÂ areÂ theÂ fifth-, sixth-, ninth-, and tenth-highest, respectively,Â of Moodyâ€™s 21 ratings categories. Short-term rating “P-1” is the highest rating and shows superior ability for repayment of short-term debt obligations. Issuers or issues rated “Aa.mx” demonstrate very strong creditworthiness relative to other issuers in Mexico.
Fitch states that “A” (Strong) rated insurance companies are viewed as possessing strong capacity to meet policyholder and contract obligations. The “A” rating category is the third-highest of eight financial strength rating categories, which range from “AAA” to “C.” The symbol (+) or (-) may be appended to a rating to indicate the relative position of a credit within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “CCC” category. Accordingly, the “A-” rating is the seventh-highest of Fitch’s 21 ratings categories.
DBRS states that long-term obligations rated “AA” are of superior credit quality. Given the restrictive definition DBRS has for the “AAA” category, entities rated “AA” are also considered to be strong credits, typically exemplifying above-average strength in key areas of consideration and unlikely to be significantly affected by reasonably foreseeable events.
The rating categories in any given rank are not equivalent to one another.
|Rank||A.M. Best||Standard & Poor’s||Moody’s||Fitch|
|1||A++ = Superior||AAA = Extremely Strong||Aaa = Exceptional||AAA = Exceptionally Strong|
|2||A+ = Superior||AA+ = Very Strong||Aa1 = Excellent||AA+ = Very Strong|
|3||A = Excellent||AA = Very Strong||Aa2 = Excellent||AA = Very Strong|
|4||A- = Excellent||AA- = Very Strong||Aa3 = Excellent||AA- = Very Strong|
|5||B++ =Â Good||A+ = Strong||A1 = Good||A+ = Strong|
|6||B+ =Â Good||A = Strong||A2 = Good||A = Strong|
|7||B = Fair||A- = Strong||A3 = Good||A- = Strong|
|8||B- = Fair||BBB+ = Good||Baa1 = Adequate||BBB+ = Good|
|9||C++ = Marginal||BBB = Good||Baa2 = Adequate||BBB = Good|
|10||C+ = Marginal||BBB- = Good||Baa3 = Adequate||BBB- = Good|
|11||C = Weak||BB+ = Marginal||Ba1 = Questionable||BB+ = Moderately Weak|
|12||C- = Weak||BB = Marginal||Ba2 = Questionable||BB = Moderately Weak|
|13||D = Poor||BB- = Marginal||Ba3 = Questionable||BB- = Moderately Weak|
|14||E =Â Supervision||B+ = Weak||B1 = Poor||B+ = Weak|
|15||F = In Liquidation||B = Weak||B2 = Poor||B = Weak|
|16||S =Â Suspended||B- = Weak||B3 = Poor||B- = Weak|
|17||CCC+ = Very Weak||Caa1 = Very Poor||CCC+ = Very Weak|
|18||CCC = Very Weak||Caa2 = Very Poor||CCC = Very Weak|
|19||CCC- = Very Weak||Caa3 = Very Poor||CCC- = Very Weak|
|20||CC = Extremely Weak||Ca = Extremely Poor||CC = Distressed|
|21||R =Â Supervision||C = Lowest||C = Distressed|