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Virginia Regulator Reapproves Proposed Oceanwide Acquisition of Genworth's Virginia-Domiciled Insurance Companies

Genworth Financial, Inc (GNW)  More Company Research Source: PR Newswire
Last genworth financial, inc earnings: 2/5 05:10 pm Check Earnings Report
US:NYSE Investor Relations: genworth.com/corporate/investors.html
PDF RICHMOND, Va., Jan. 11, 2019 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today announced that the Virginia State Corporation Commission, Bureau of Insurance, reapproved the proposed acquisition of control by Oceanwide of Genworth's Virginia-domiciled insurance companies, Genworth Life and Annuity Insurance Company and Jamestown Life Insurance Company, as contemplated under the merger agreement entered into by Genworth and Oceanwide on October 21, 2016.  In addition to reapproval by the Virginia regulator, insurance regulators in North Carolina, South Carolina and Vermont also reapproved the proposed acquisition of control by Oceanwide of Genworth's subsidiaries domiciled in those states.  Regulators in these four states had previously approved the transaction and reapproved after the parties filed supplemental information to reflect changes to the transaction that had occurred since the regulators' original approvals.  [Read more]

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