Genworth to Sell Europe Mortgage Unit at $140 Million Loss
Bloomberg, Oct. 27, 2015–Chiglinsky, Katherine
Genworth Financial Inc. agreed to sell a European mortgage insurance operation to AmTrust Financial Services Inc. as Chief Executive Officer Tom McInerney divests assets to bolster capital amid tighter regulation on companies that back home loans in the U.S. Genworth expects to record an after-tax loss of $140 million tied to the sale and will get net proceeds of about $55 million.
