Genworth's life division CEO to leave by year’s end

"Under Pat's leadership as CFO during the financial crisis and more recently as chief executive officer of the U.S. life insurance division, Genworth has made progress building financial flexibility, improving capital ratios, and repositioning the long-term care insurance business through important steps such as implementing appropriate levels of rate actions on our in-force business," said McInerney in a statement. "We remain on track to achieve the 2013 goals and milestones for the U.S. life insurance division set out earlier this year and feel good about the strategic progress, financial position, and performance of the business, enabling a transition to a more significant business development and distribution focus."

Genworth's U.S. life insurance division offers life insurance, long-term care insurance and fixed annuities.

See also:

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