Genworth Financial
Genworth Financial (NYSE: GNW) is a Fortune 500 global financial security company that specializes in life and long term care insurance, wealth management, mortgage insurance, lifestyle protection insurance and annuities. Genworth‘s heritage dates back to 1871.[1]
History
Although Genworth Financial has only been “Genworth Financial” for less than a decade, the Genworth Financial family of companies have roots that can be traced back to the writing of the first policy with The Life Insurance Company of Virginia in 1871. In May 2004, Genworth Financial was formed out of various insurance businesses of General Electric Company in the largest IPO of that year, topping the more publicized Google IPO of that same year.[2] Today, Genworth Financial has over $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries.[3]
Legal entity structure
Genworth Financial’s principal insurance companies are:
- Genworth Life and Annuity Insurance Company offering life insurance, as well as fixed and immediate annuities in all states except New York.
- Genworth Life Insurance Company offering life insurance, long term care insurance, linked benefits coverage (combination life insurance with long term care insurance benefits) fixed annuities and immediate annuities in all states except New York.
- Genworth Life Insurance Company of New York offering life insurance, long term care insurance, linked benefits coverage (combination of life insurance with long term care insurance benefits) fixed annuities and immediate annuities in New York only.
- Genworth Mortgage Insurance Corporation offering mortgage insurance in all states except New York.
- Genworth Residential Mortgage Insurance Corporation of New York offering mortgage insurance in New York.
Products & services
The Genworth Financial family of companies operates through three segments: Retirement & Protection, US Mortgage Insurance and International. Products and services include life and long term care insurance, wealth management, mortgage insurance, lifestyle protection insurance and annuities. Products and services are offered through financial intermediaries, advisors, independent distributors and sale specialists. Its products and services help meet the investment, protection, retirement, and lifestyle needs of more than 15 million customers.[4]
Awards & recognitions
2010
- DALBAR Financial Intermediary Service Quality Evaluation Post-Sale Award
- DALBAR Key Honors Award in Life Insurance
- RichTech Chairman’s Award, presented to Scott McKay, Senior Vice President and Chief Information Officer of Genworth Financial, Inc.
- Michael D. Fraizer inducted in the Greater Richmond Business Hall of Fame
- Best at providing training and educational opportunities for selling life insurance, from survey conducted by the Agent's Sales Journal
2009
- Corporate Philanthropist of the Year, as voted by the Association of Fundraising Professionals, Central Virginia Chapter
- DALBAR Annuity Service Award
- DALBAR Financial Intermediary Post-Sale Service Award
- DALBAR Industry Service Recognition, presented to Genworth Retirement and Protection Operations for commitment to deliver an industry-leading service experience, tailored to customers’ needs
- Top 25 Corporate Partner Circle of Caring, presented to Genworth Financial-Brentwood, Tennessee
- Corporate Campaign Leader, presented to Genworth Financial-Lynchburg, Virginia by United Way
- Circle of Caring Award, presented to Genworth Financial-Brentwood, Tennessee by United Way for exceptional campaign organization, growth and giving levels
- Best Campaign Award, presented to Genworth Financial-Brentwood, Tennessee by United Way for the 100+ employee category for top-level campaign
- Corporate Leader of the Decade Award, presented to Genworth Financial-Lynchburg, Virginia by the Jubilee Family Development Center for 10 years of partnership in changing lives in our community
- Mission Mover Champion Award, presented by the Alzheimer’s Association for demonstrating a commitment to the organization’s mission and activities in support of Alzheimer’s research and education
- Best Industry Service Provider, presented to Genworth Financial-Canada by "Canadian Mortgage Professional" for going above and beyond in providing the highest level of servicing
2008
- Points of Light Institute Excellence in Workplace Volunteer Programs Award
- L'Argus d'Or award from L'Argus de L'Assurance (France)
- ACORD Insurance Standards Organization Award in Web Services, Industry Leadership for Straight Through Processing, Internal Integration Business Improvement, External Integration Business Value, Business Enterprise Architecture and Market Leadership
2007
- ACORD Implementation Leader and Innovator of the Month (October 2007)
- Web Marketing Association's Web Awards for Outstanding Achievement in Website Development
- Internet Advertising Competition "Outstanding Financial Services Microsite/Landing Page" Award for Centenarian Site
- United Way: Chairman's Award (Stamford, Connecticut)
2006
- DALBAR Internal Wholesalers: Annuity Service Award for Pre-Sale Support
- DALBAR Broker Services Call Center: Annuity Service Award for Post-Issue Support
- DALBAR Policyholder Services: Annuity Service Key Honors Award
- United Way: National Campaign Community Partner
- Central Virginia Foodbank: Outstanding Childhood Hunger Relief Supporter
- Meals on Wheels: Outstanding Team Award
- American Cancer Society: Top Fundraiser for Hood to Coast Relay
2005
- National Association of Independent Life Brokerage Agencies (NAILBA) Heavy-Hitter Award
- Insurance & Technology Magazine; Elite 8 Award
- Central Virginia Foodbank: Childhood Hunger Relief Heroes
- Virginia Minority Supplier Development Council: Best New Supplier Diversity Program Award
2004
- Corporate Hispanic Business Advocate of the Year
- Richmond Technology Council: IT Builders Award
- ACCORD Awards, presented to Genworth Financial's Life Insurance Business for technical excellence - recognized in the categories of: Greatest Number of Implementations, Greatest Growth in the Number of Implementations, Greatest Dollar Volume, Greatest Number of Trading Partners, Business Integration, and Certification for Life & Annuity Providers !!
[5]
The Genworth Foundation
Through grants from the Genworth Foundation, employee volunteerism, and local community sponsorships, Genworth Financial aims to make a difference around the world where its employees live and work. The Genworth Foundation, the philanthropic arm of Genworth Financial, is a private foundation that helps build strong communities by focusing on three key areas: education, older adults, and basic needs.
Among the more noteworthy philanthropic efforts at Genworth is its Global Month of Service which takes place each June. This past year, 30 Genworth offices contributed more than 8,600 hours to 116 nonprofit organizations.[6]
References
- ^ http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=GNW
- ^ http://www.altassets.com/private-equity-news/article/nz6392.html
- ^ http://www.genworth.com/content/genworth/www_genworth_com/web/corporate/en/about_genworth/the_genworth_story.html
- ^ http://www.genworth.com/content/genworth/www_genworth_com/web/corporate/en/about_genworth/our_products.html
- ^ http://www.genworth.com/content/genworth/www_genworth_com/web/corporate/en/press_center/thought_leadership.html
- ^ http://www.genworth.com/content/genworth/www_genworth_com/web/corporate/en/about_genworth/in_the_community/foundation.html
External links