19.07.2005 13:02:00

Genworth Financial Appoints Robert Brannock as Chief Executive for Global Payment Protection Insurance

LONDON, July 19 /PRNewswire/ -- Genworth Financial has announced the appointment of Robert Brannock as president and chief executive of its global payment protection insurance business, effective August 1, 2005. Brannock has also been made a corporate officer of Genworth Financial. He will report to the president and chief executive officer of Genworth's Protection Segment, George Zippel. Brannock will continue to be based in Europe.

"Genworth's payment protection business has a solid strategy in place and we will continue to drive our position as a leading provider of protection insurance solutions, globally," said Brannock. "Our strategy focuses on driving core growth across a global platform by embracing customer needs and differentiating with service supported by robust risk management capabilities and a strong controllership and compliance culture."

Brannock will succeed William C. Goings who has held the position for four years during a period of sustained and consistent core growth. Goings has been appointed president of Genworth's life insurance business, which is also part of the Protection Segment, and is based in Virginia, U.S.

Brannock has been the sales and marketing director for Genworth's payment protection insurance business since 2002. The business, which plays an important role in Genworth's strategy globally, is a leading provider of payment protection insurance in Europe and is rapidly expanding its global reach. During his time as sales and marketing director, Brannock has delivered significant sales growth across Europe and has been a key driver of the company's expansion in to new territories, more recently Greece and Poland. As a result, payment protection insurance now has over 200 distribution relationships with leading financial institutions.

Brannock has 25 years of financial services experience in the areas of sales, operations, information technology, quality, and acquisition integration. He was born in Dublin, Ireland and studied business administration (ACIS) at Rathmines College of Commerce in Dublin, earning membership in 1984. He is 46 years old and is married with five children.

Genworth Financial (NYSE: GNW) is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, with operations in 22 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit http://www.genworth.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as " "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company's future business and financial performance. Forward-looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors, including the following:

- Risks relating to the company's businesses, including interest rate fluctuations, downturns and volatility in equity markets, defaults in portfolio securities, downgrades in the company's financial strength and credit ratings, unexpected changes in mortality and morbidity rates, accelerated amortization of deferred acquisition costs and present value of future profits, impairment of the value of goodwill, increases in the use of captive reinsurance in the mortgage insurance market, the influence of large mortgage lenders and investors, foreign exchange rate fluctuations, insufficiency of reserves, legal constraints on dividend distributions by subsidiaries, illiquid investments, competition, inability to attract or retain independent sales intermediaries and dedicated sales specialists, defaults by counterparties, regulatory restrictions on the company's operations, changes in applicable laws and regulations, legal or regulatory actions or investigations and increased regulatory scrutiny into some aspects of the company's operations, political or economic instability and the threat of terrorism; and

- Risks relating to the company's separation from GE, including the loss of benefits associated with GE's brand and reputation, the company's need to establish the new Genworth brand identity quickly and effectively, the company's inability to present financial information in SEC filings that accurately represents the results the company would have achieved as a stand-alone company, the possibility that the company will not be able to replace services previously provided by GE on comparable terms, uncertainty of amounts and timing of payments that the company has agreed to make to GE under the company's Tax Matters Agreement and other matters relating to that agreement, potential conflicts of interest with GE and GE's engaging in the same type of business as the company does in the future.

The company undertakes no obligation to publicly update any forward- looking statement, whether as a result of new information, future developments or otherwise.

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