Genworth Posts 1Q Loss; China Oceanwide Deal Delayed Again

Insurance News.Net, May 6, 2020–John Hilton
Genworth reported a first-quarter loss of $66 million, after reporting a profit in the same period a year earlier. The quarterly report comes two days after Fitch Ratings downgraded Genworth’s financial strength ratings from CCC+ to CCC. The insurer has $1.1 billion in debt coming due in 2021.