Genworth to Sell Europe Mortgage Unit at $140 Million Loss

  • AmTrust to purchase the operation for international expansion
  • Genworth expects net proceeds of $55 million on sale

Genworth Financial Inc. agreed to sell a European mortgage insurance operation to AmTrust Financial Services Inc. as Chief Executive Officer Tom McInerney divests assets to bolster capital amid tighter regulation on companies that back home loans in the U.S.

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