"One of our top priorities is building a strong Genworth name and brand among customers and distributors across all our businesses," said Michael D. Fraizer, chairman and chief executive officer. "It is a logical brand extension to bring our life operating companies under the Genworth identity -- as we will continue to do with other key operating companies over time."
Pending final regulatory approval, companies being renamed as of January 1, 2006, to incorporate the Genworth identity, and the names that will be replaced, are as follows:
* Genworth Life Insurance Company will replace General Electric Capital Assurance Company; * Genworth Life and Annuity Insurance Company will replace GE Life and Annuity Assurance Company; and, * Genworth Life Insurance Company of New York will replace GE Capital Life Assurance Company of New York.
Genworth Financial will announce the dates of other underwriting company name changes as they are determined.
Genworth Financial launched an extensive brand campaign at the time of the initial public offering of its shares, including broad-based print and television advertising programs, trade events and other promotional activities.
"Our initial branding efforts have been very well received among our key life and long term care distribution partners with a strong majority now aware of the Genworth brand," said Fraizer. "With the renaming of our life companies, we are now more strongly positioned going forward to build on our brand messages not only among distributors but customers as well."
Genworth Financial ranks among the nation's largest insurance holding companies, with leading market positions in protection, retirement income and mortgage insurance.
Policyholders will be notified of these changes by letter between December 15, 2005 and January 31, 2006. Terms and conditions of policies and contracts are not affected by the name changes. All administrative and billing procedures currently in place are also unaffected. Policyholders with questions may call the toll-free service number located on their policy or our toll-free service number at 1-888-GENWORTH (1-888-436-9678).
Any distributors with questions may call Genworth toll-free at 1-888- Genworth.
About Genworth Financial
Genworth Financial, Inc.
SOURCE: Genworth Financial
CONTACT: Tom Topinka of Genworth Financial, +1-804-662-2444
Web site: http://www.genworth.com/