The top executive at Genworth Financial Inc. assured analysts and investors Monday that the proposed sale to a China-based investment firm was “the best option” to preserve and create value for shareholders.
Genworth, a major seller of home mortgage insurance and long-term care insurance, announced Sunday evening that its board agreed for the Henrico County-based company to be bought for about $2.7 billion by Beijing-based China Oceanwide Holdings Group, a privately held international financial company that has been expanding its holdings in the U.S.
MetLife decided earlier this year to part with most of its U.S. life-insurance business. Now it is cutting ties with Snoopy.
Could the Gecko be next???
The Oklahoman link is to their online comics section for October 21, 2016.
Scroll to the bottom of the page for the Peanuts strip.
A majority of the laid off employees were “completely blindsided” by MassMutual’s decision, one source said, adding MassMutual’s board was only expected to discuss funding levels in a meeting earlier that week.
Northwestern Mutual Mass Layoff Announcement comes Thursday morning during a company meeting.
Policyholders are filing suit, as big U.S. life insurers blame the Federal Reserve’s decision to keep interest rates lower for longer.