The GE Spin-Off You Never Heard Of

Although Genworth is a leading insurer, the unit's performance isn't good enough for GE. Will investors bite?

It has a big-name parent in General Electric (GE ) and more than 10 times the earnings of Google, yet few are clamoring to get a piece of Genworth Financial when it goes public. In fact, the expected spin-off of 30% of GE's life and mortgage insurance business, now set for early in the week of May 24, may qualify as both one of the largest and quietest stock deals of the year. The $9.8 billion operation, which has more than 15 million customers and $100 billion in assets, could raise about $3.34 billion in the market.

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