“The enhanced data security program we are putting into place and the quality of the national security experts we’ve recruited for our new board reflect our steadfast commitment to protect the sensitive personal data of our policyholders and customers,” said Tom McInerney, president and CEO of Genworth.
The parties continue to target closing the transaction in the fourth quarter of 2018. The closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China and other international jurisdictions and other closing conditions.
“Genworth and Oceanwide stand ready and willing to provide further information that regulators may need to complete their reviews of our transaction,” McInerney said. “Genworth remains convinced that the transaction is the best path forward for our stockholders and other stakeholders.”
Added LU Zhiqiang, chairman of Oceanwide: “I am pleased with the constructive discussions we have had with our regulators and look forward to working with Genworth to close the transaction as quickly as possible.”
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visitgenworth.com.
From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the “Investors” section of genworth.com. From time to time, Genworth’s publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at http://genworth.ca andhttp://www.genworth.com.au.
About Oceanwide
Oceanwide is a privately held, family owned international financial holding group founded by LU Zhiqiang. Headquartered in Beijing, China, Oceanwide’s well-established and diversified businesses include operations in financial services, energy, technology information services, culture and media, and real estate assets globally, including in the United States.