Reinsurance News


Brookfield Business Partners completes Genworth Canada purchase

16th December 2019

Genworth Financial, Inc. has announced the closing of the sale of its majority share in Genworth MI Canada Inc. to Brookfield Business Partners. The deal was announced in August, and sees Brookfield Business Partners acquire a 57% controlling interest in Genworth MI Canada Inc. for approximately CAD 2.4 billion (USD ... Read the full article

Genworth secures $300mn mortgage reinsurance from capital markets

25th November 2019

Genworth Mortgage Insurance (MI), part of Genworth Financial, Inc., has obtained £302.8 million of fully collateralised excess of loss reinsurance coverage from the capital markets. Genworth Mortgage Insurance Corporation, a wholly owned subsidiary of Genworth MI, secured the coverage from Triangle Re 2019-1 Ltd. Triangle Re is a special purpose insurer domiciled ... Read the full article

Brookfield Business Partners acquires majority stake in Genworth Canada

13th August 2019

Brookfield Business Partners L.P. is set to acquire a 57% controlling interest in Genworth MI Canada Inc. (Genworth Canada) from Genworth Financial for approximately CAD 2.4 billion (USD 1.8 billion). Genworth Canada, through its subsidiary Genworth Financial Mortgage Insurance Company Canada, is the largest private sector residential mortgage insurer in Canada. Prior ... Read the full article

Genworth delays China Oceanwide merger to explore sale of Canada business

3rd July 2019

Mortgage insurer Genworth Financial has announced a five-month extension to its planned merger agreement with China Oceanwide Holdings Group Co., Ltd., which will give it time to explore the sale of its Canadian business, Genworth MI Canada Inc. Oceanwide, which had been set to acquire Genworth by June 30, 2019, gave ... Read the full article

Genworth & China Oceanwide complete reinsurance agreements & refile CFIUS notice

14th July 2017

Insurer Genworth Financial and China Oceanwide Holdings have announced the completion of internal reinsurance agreements and have again withdrawn and re-filed their joint voluntary notice with the U.S. Committee on Foreign Investment (CFIUS), to allow the committee more time to review the firms' proposed transaction under their merger agreement. A new ... Read the full article

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