Genworth Financial - AbsoluteAstronomy.com

Genworth Financial is a Fortune 500 global financial security company that specializes in life and long term care insurance, wealth management, mortgage insurance, lifestyle protection insurance and annuities. Genworth‘s heritage dates back to 1871.

History

Although Genworth Financial has only been “Genworth Financial” for less than a decade, the Genworth Financial family of companies have roots that can be traced back to the writing of the first policy with The Life Insurance Company of Virginia in 1871. In May of 2004, Genworth Financial was formed out of various insurance businesses of General Electric Company in the largest IPO of that year, topping the more publicized Google IPO of that same year.. Today, Genworth Financial has over $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries.

Legal entity structure

Genworth Financial’s principal insurance companies are:

Genworth Life and Annuity Insurance Company offering life insurance, as well as fixed and immediate annuities in all states except New York.
Genworth Life Insurance Company offering life insurance, long term care insurance, linked benefits coverage (combination life insurance with long term care insurance benefits) fixed annuities and immediate annuities in all states except New York.
Genworth Life Insurance Company of New York offering life insurance, long term care insurance, linked benefits coverage (combination of life insurance with long term care insurance benefits) fixed annuities and immediate annuities in New York only.
Genworth Mortgage Insurance Corporation offering mortgage insurance in all states except New York.
Genworth Residential Mortgage Insurance Corporation of New York offering mortgage insurance in New York.

Company ratings

Products & services

The Genworth Financial family of companies operates through three segments: Retirement & Protection, US Mortgage Insurance and International. Products and services include life and long term care insurance, wealth management, mortgage insurance, lifestyle protection insurance and annuities. Products and services are offered through financial intermediaries, advisors, independent distributors and sale specialists. Its products and services help meet the investment, protection, retirement, and lifestyle needs of more than 15 million customers.

2010

DALBAR Financial Intermediary Service Quality Evaluation Post-Sale Award
DALBAR Key Honors Award in Life Insurance
RichTech Chairman’s Award, presented to Scott McKay, Senior Vice President and Chief Information Officer of Genworth Financial, Inc.
Michael D. Fraizer inducted in the Greater Richmond Business Hall of Fame
Best at providing training and educational opportunities for selling life insurance, from survey conducted by the Agent's Sales Journal

2009

Corporate Philanthropist of the Year, as voted by the Association of Fundraising Professionals, Central Virginia Chapter
DALBAR Annuity Service Award
DALBAR Financial Intermediary Post-Sale Service Award
DALBAR Industry Service Recognition, presented to Genworth Retirement and Protection Operations for commitment to deliver an industry-leading service experience, tailored to customers’ needs
Top 25 Corporate Partner Circle of Caring, presented to Genworth Financial-Brentwood, Tennessee
Corporate Campaign Leader, presented to Genworth Financial-Lynchburg, Virginia by United Way
Circle of Caring Award, presented to Genworth Financial-Brentwood, Tennessee by United Way for exceptional campaign organization, growth and giving levels
Best Campaign Award, presented to Genworth Financial-Brentwood, Tennessee by United Way for the 100+ employee category for top-level campaign
Corporate Leader of the Decade Award, presented to Genworth Financial-Lynchburg, Virginia by the Jubilee Family Development Center for 10 years of partnership in changing lives in our community
Mission Mover Champion Award, presented by the Alzheimer’s Association for demonstrating a commitment to the organization’s mission and activities in support of Alzheimer’s research and education
Best Industry Service Provider, presented to Genworth Financial-Canada by "Canadian Mortgage Professional" for going above and beyond in providing the highest level of servicing

2008

Points of Light Institute Excellence in Workplace Volunteer Programs Award
L'Argus d'Or award from L'Argus de L'Assurance (France)
ACORD Insurance Standards Organization Award in Web Services, Industry Leadership for Straight Through Processing, Internal Integration Business Improvement, External Integration Business Value, Business Enterprise Architecture and Market Leadership

2007

ACORD Implementation Leader and Innovator of the Month (October 2007)
Web Marketing Association's Web Awards for Outstanding Achievement in Website Development
Internet Advertising Competition "Outstanding Financial Services Microsite/Landing Page" Award for Centenarian Site
United Way: Chairman's Award (Stamford, Connecticut)

2006

DALBAR Internal Wholesalers: Annuity Service Award for Pre-Sale Support
DALBAR Broker Services Call Center: Annuity Service Award for Post-Issue Support
DALBAR Policyholder Services: Annuity Service Key Honors Award
United Way: National Campaign Community Partner
Central Virginia Foodbank: Outstanding Childhood Hunger Relief Supporter
Meals on Wheels: Outstanding Team Award
American Cancer Society: Top Fundraiser for Hood to Coast Relay

2005

National Association of Independent Life Brokerage Agencies (NAILBA) Heavy-Hitter Award
Insurance & Technology Magazine; Elite 8 Award
Central Virginia Foodbank: Childhood Hunger Relief Heroes
Virginia Minority Supplier Development Council: Best New Supplier Diversity Program Award

2004

Corporate Hispanic Business Advocate of the Year
Richmond Technology Council: IT Builders Award
ACCORD Awards, presented to Genworth Financial's Life Insurance Business for technical excellence - recognized in the categories of: Greatest Number of Implementations, Greatest Growth in the Number of Implementations, Greatest Dollar Volume, Greatest Number of Trading Partners, Business Integration, and Certification for Life & Annuity Providers !!

The Genworth Foundation

Through grants from the Genworth Foundation, employee volunteerism, and local community sponsorships, Genworth Financial aims to make a difference around the world where its employees live and work. The Genworth Foundation, the philanthropic arm of Genworth Financial, is a private foundation that helps build strong communities by focusing on three key areas: education, older adults, and basic needs.

Among the more noteworthy philanthropic efforts at Genworth is its Global Month of Service which takes place each June. This past year, 30 Genworth offices contributed more than 8,600 hours to 116 nonprofit organizations.

External links

The source of this article is wikipedia, the free encyclopedia. The text of this article is licensed under the GFDL.