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PacLife in Talks to Buy Genworth Term-Life Platform, Office

  • A final decision on deal hasn't been reached, companies say
  • Genworth has halted sales of traditional life insurance
Updated on

Pacific Life Insurance Co. is considering an acquisition of Genworth Financial Inc.’s term-life platform for new policies as the firm seeks to gain technology that would help bolster its market position.

Both companies are conducting due diligence, and a final decision on a deal hasn’t been reached, Newport Beach, California-based PacLife said Monday in a statement.