The top executive at Genworth Financial Inc. assured analysts and investors Monday that the proposed sale to a China-based investment firm was “the best option” to preserve and create value for shareholders.
Genworth, a major seller of home mortgage insurance and long-term care insurance, announced Sunday evening that its board agreed for the Henrico County-based company to be bought for about $2.7 billion by Beijing-based China Oceanwide Holdings Group, a privately held international financial company that has been expanding its holdings in the U.S.
