Genworth Profit Tumbles 66% as CEO McInerney Shrinks Insurer

  • Insurer halted sales of life policies, annuities this year
  • McInerney counts on mortgage guaranty unit for rebound

Genworth Financial Inc., the insurer burned by losses on long-term care, said first-quarter profit dropped 66 percent as Chief Executive Officer Tom McInerney shrinks the company.

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