Skip to content
Subscriber Only

Genworth CEO Sees Tough Turnaround From $844 Million Loss

Updated on

Genworth Financial Inc. faces a tougher path after posting a record net loss on costs tied to its long-term care insurance business, Chief Executive Officer Tom McInerney said.

“The turnaround in this business will be more difficult and prolonged,” McInerney said yesterday in a statement announcing third-quarter results. “Despite this setback, we remain steadfast in our commitment to transform this business.”