Genworth Financial Closes Sale Of Genworth Seguros

NEW YORK (AP) — Genworth Financial Inc. said Thursday that it completed the $45 million sale of Genworth Seguros Mexico S.A. de C.V. to HDI-Gerling International Holding AG.

The insurer said the sale will allow it to concentrate on its lifestyle protection insurance — which helps customers pay mortgages, loans and credit card bills if they are sick or unemployed — and mortgage insurance operations in Mexico.

The sale includes the automobile, property and casualty, life, and personal accident insurance business lines that Genworth Seguros distributes through independent professional insurance agents.

Shares of Genworth Financial dropped 73 cents, or 6.1 percent, to $11.22 in afternoon trading. The stock has traded in a range of 70 cents to $13.68 over the past year.