A.M. Best Company
A.M. Best Places Ratings of Genworth Financial Inc. and Its Subsidiaries Under Review With Negative Implications
Published in Managed Care Law Weekly, November 30th, 2008
A.M. Best Co. has placed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of "aa-" of the key life/health insurance subsidiaries of Genworth Financial, Inc. (Genworth) (Richmond, VA) (NYSE: GNW) under review with negative implications. Concurrently, A.M. Best has placed the ICR of "a-" and existing debt ratings of Genworth under review with negative implications. (Please see link below for a detailed listing of the companies and ratings.)
These rating actions reflect the deterioration in the statutory capital of Genworth's life/health entities as of mid-year 2008, which A.M. Best expects to be further pressured by material investment...
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