October 24, 2016 4:11 PM ET


Company Overview of Genworth Life and Annuity Insurance Company

Company Overview

Genworth Life and Annuity Insurance Company offers annuity and life insurance underwriting services in the United States. It operates in two segments: Retirement Income and Institutional, and Protection. The Retirement Income and Institutional segment offers various forms of wealth accumulation, income distribution, and institutional investment products, which principally comprise fixed and variable deferred and immediate individual annuities, and group variable annuities. Its variable annuities include a guaranteed minimum death benefit; group and individual variable annuity products comprise guaranteed minimum benefit features, such as guaranteed minimum withdrawal benefits and guaranteed ...

6610 West Broad Street

Richmond, VA 23230

United States

Founded in 1871



Key Executives for Genworth Life and Annuity Insurance Company

Chairman of the Board, Chief Executive Officer, President and Member of Capital & Risk Committee
Age: 61
Senior Vice President and Director
Age: 62
Senior Vice President, Secretary, General Counsel and Member of Capital & Risk Committee
Age: 60
Chief Actuary, Senior Vice President, Director and Member of Capital & Risk Committee
Age: 58
Senior Vice President and Director
Age: 63
Compensation as of Fiscal Year 2016.

Genworth Life and Annuity Insurance Company Key Developments

Genworth Life and Annuity Insurance Company Enters into Agreement to Sell Certain Blocks of Term Life Insurance Policies

Genworth Financial Inc. (the company or Genworth) announced that Genworth Life and Annuity Insurance Company, has entered into an agreement to sell, via reinsurance, certain blocks of term life insurance to Protective Life Insurance Company. The majority of the term life insurance blocks included in this transaction are currently reinsured to River Lake Insurance Company and River Lake Insurance Company II, which previously had not been consolidated in the statutory financial statements of the U.S. life insurance companies. Genworth will continue to administer and service the policies, which represent approximately $108.7 billion of term life insurance in force backed by approximately $2.3 billion of statutory reserves as of June 30, 2015.

Genworth Financial Reportedly Seeks Buyers For Life And Annuity Unit

Genworth Financial, Inc. (NYSE:GNW) is seeking buyers for a life and annuity unit, according to people familiar with the matter. Genworth with The Goldman Sachs Group, Inc. (NYSE:GS) on a sale of Genworth Life and Annuity Insurance Company (GLAIC), said the people, who asked not to be identified because the matter isn’t public. Genworth will consider selling GLAIC in parts if it can’t find a buyer for the entire unit, two of the people said. Al Orendorff, a spokesman for Genworth declined to comment, as did Leslie Shribman, a spokeswoman for Goldman Sachs, reported Bloomberg.

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