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Genworth Financial, Inc.

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Shares of Genworth have underperformed the industry year to date. New products and pricing changes in the U.S. Life Insurance Division implemented over the past couple of years led to lower sales for Genworth. Nonetheless, Genworth has agreed to be acquired by China Oceanwide. The merger will consolidate Genworth’s financial position in the mortgage insurance and long term care insurance markets. Also, it will remain committed toward its key financial priorities of strengthening the balance sheet and stabilizing and improving ratings over time, particularly in its U.S. MI business. It is intensifying focus on streamlining and rationalizing business to mainly improve performance, enhance financial and strategic flexibility. With respect to quarterly results, Genworth’s third-quarter 2017 earnings missed the Zacks Consensus Estimate. However, its adjusted operating income compared favorably with the year-ago quarter’s loss.

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