Who we are
Genworth Financial is a leading global financial security company that helps more than 15 million people a year with retirement, investment, mortgage and lifestyle protection. We are a Fortune 500 company providing financial services to 600 different institutions in over 25 countries and each of the 6.400 people we employ worldwide are dedicated to making a difference to people’s lives. In Europe our Lifestyle Protection business is headquartered in London and expands across over 20 European countries, as well as Mexico, Colombia and China.
We have $1.0b (€0.7b) in revenues and $2.4b (€1.7b) in assets*. Our Lifestyle Protection underwriting entities, Financial Assurance Company Limited and Financial Insurance Company Limited has sustained a financial strength rating of ‘A-’ and a stable outlook from Standard and Poor’s**. This is due to the groups very strong capitalization and strong financial risk portfolio. We have a good competitive position underpinned by multifaceted diversification by coverage, product type and geography.
Genworth in Action in 2011
We renewed relationships with most of our existing clients as well as winning €90m worth of business with new clients. Over the course of the year we processed over 90.000 new claims requests, with an acceptance and payment rate of over 80%. At the same time, we also processed over 200.000 continuing claims with an acceptance/payment rate of over 95%.
It’s become part of our custom that as we grow, we also give something back, and as part of our philanthropic focus, our Putts4Charity initiative on the golf European Tour raised over €850.000 to date for charities including SOS Children’s Villages and Barnardo’s Children’s charity in Ireland.
* as of 31/12/11