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Robert Powell, III// October 21, 2013//
Patrick B. Kelleher, executive vice president at Genworth Financial Inc. and the CEO of its U.S. Life Insurance division, is leaving the Fortune 500 at the end of the year.
Tom McInerney, the president and CEO of Henrico County-based Genworth, will lead the division until a replacement is named, the company said.
U.S. Life Insurance, one of three Genworth divisions, includes life insurance, long-term care insurance and fixed annuities.
“Under Pat's leadership as CFO during the financial crisis and more recently as chief executive officer of the U.S. Life Insurance division, Genworth has made progress building financial flexibility, improving capital ratios, and repositioning the long-term care insurance business — through important steps such as implementing appropriate levels of rate actions on our in-force business,” McInerney said in a statement.
McInerney said the company remains on track to achieve the 2013 goals and milestones for the division set out earlier this year.
