Genworth financial was established as the Life Insurance Company of Virginia in 1871 and has since gone on to become a Fortune 500 company and one of the most recognized names in the modern insurance industry. In the mid-1980’s, Life of Virginia was bought by Combined Insurance, and ten years later was in turn acquired by GE Capital. General Electric went on to consolidate many of its insurance companies and Genworth Financial was formed. Genworth Financial is operational in all fifty states.
Why Choose Genworth Financial?
Genworth is a financially stable company, offering many types of insurance plans to citizens nationwide. The company offers general product lines, including retirement protection income, long term care and mortgage insurance.
This broad range of insurance products means Genworth is one of the leading companies providing plans to people of all ages. The insurance products offered are often praised for giving policyholders a lot more control over their financial world. Genworth is known for its outstanding customer service, which garners praise from industry professionals and customers alike, year after year.
Genworth Financial Company Background
Since its humble beginnings in 1871, Genworth has gone on to become a leading insurance provider. It has amassed over $100 billion in assets and employs over 6,000 staff. The company is based in Richmond, Virginia, and is renowned for its wide product range and flexible policies.
Genworth Financial is operational as a group of companies with branches: Retirement protection and mortgage plans. Within these customers opt for common plans such as lifestyle protection, wealth management an d long term care. Genworth has a legal structure which includes six companies which include the Genworth Mortgage Insurance Company and the Genworth Life Insurance Company.
Genworth Financial Industry Ratings
In 2013, the company was awarded the Life and Long Term Service Award for consistently providing the best in customer services. All major ratings providers recognize the high quality products and services offered by Genworth, with awarding a rating of A (Excellent).
Company is a distinguished independent credit ratings provider, dealing specifically with the financial and healthcare services, with insurance as a particular focus. The company is entirely independent of any other business and as such, positive ratings are considered to lend a lot of distinction to a company’s public profile, based on its balance sheet, business profile and operating performance.
Discussing the Importance of Long Term Care Insurance