TORONTO, Feb. 7, 2017 /CNW/ - The Board of Directors of Genworth MI Canada Inc. (the "Company") (TSX: MIC) are pleased to announce today that Neil Parkinson has been appointed to the Board of Directors of the Company and its main operating subsidiary.
Mr. Parkinson is a chartered professional accountant and consultant with over 35 years of experience in the insurance and financial services field. From 1988 until his retirement in 2016, he was a Partner with KPMG LLP. He was the National Leader for the firm's insurance practice from 2004 to 2015. In addition, he held the role of Chair of the Insurance Auditors Advisory Committee for the Superintendent of Financial Institutions Canada until May 2016. Mr. Parkinson is a member of the Canadian Accounting Standards Board's Insurance Accounting Task Force.
"We're delighted to have Neil Parkinson as a new member of the Board. Neil's expertise and depth of knowledge will be invaluable to our organization," said Stuart Levings, President and CEO, Genworth MI Canada Inc. "The Board of Directors and I are excited and look forward to working with him," added Mr. Levings.
The Board of Directors also announce the resignation of John Walker as a Director of the Company. The Board of Directors wishes to thank Mr. Walker for his years of dedicated service to the Company. Mr. Walker will continue to work as a member of the Board of Directors of Genworth Financial Mortgage Insurance Company Canada, the main operating subsidiary of the Company.
About Genworth MI Canada Inc.
Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial Mortgage Insurance Company Canada (Genworth Canada), is the largest private residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Genworth Canada differentiates itself through customer service excellence, innovative processing technology, and a robust risk management framework. For more than two decades, Genworth Canada has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at December 31, 2016, the Company had $6.6 billion total assets and $3.6 billion shareholders' equity. Find out more at www.genworth.ca.
SOURCE Genworth MI Canada