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“Climate change is causing the state as a whole to deal with flooding and flood-related issues. It impacts a lot of people,” says Michael Vernon, CEO of Flood Insurance Hampton Roads. Photo by Mark Rhodes
Jan 30, 2022

Watershed moment

Hampton Roads is besieged by hurricanes, nor’easters and full moon tidal surges, but it’s not just coastal Virginia homes and businesses that are threatened by increased flooding. “Climate change is causing the state as a whole to deal with flooding and flood- related issues. It impacts a lot of people throughout the state,” says Michael […]

Sep 21, 2021

Genworth completes IPO for mortgage insurance subsidiary

Henrico County-based Fortune 500 insurer Genworth Financial Inc. completed the once-delayed initial public offering of its mortgage insurance subsidiary, Raleigh, North Carolina-based Enact Holdings Inc., it announced Monday. Between the IPO and a private sale of shares, Genworth received aggregate net proceeds of about $535 million after underwriters’ fees but before other expenses. Genwort[...]

Sep 13, 2021

Genworth launches IPO for mortgage insurance subsidiary

Nearly five months after it was first announced, Henrico County-based Fortune 500 insurer Genworth Financial Inc. on Monday launched an initial public offering for its private mortgage insurance subsidiary, Raleigh, North Carolina-based Enact Holdings Inc. Genworth Holdings Inc. (GHI), a wholly owned subsidiary of Genworth Financial, is offering 13.31 million shares of common stock in […]

Jan 4, 2021

$2.7B Genworth acquisition is on hold

UPDATED JAN. 5 Henrico County-based Genworth Financial Inc.’s planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. In late November, the companies announced that Oceanwide’s acquisition of the Fortune 500 insurance company had been reapproved by China’s National Development and Reform Commission, and the acquisition, which has been fr[...]

Dec 12, 2019

Genworth completes $1.8B sale of Canadian unit

Henrico County-based Genworth Financial Inc. has completed the sale of the majority stake in its Canadian mortgage insurance company. The sale of Genworth MI Canada Inc. to Brookfield Business Partners is part of Genworth’s effort to clear the way for its long-delayed takeover by China Oceanwide Holdings Group Co. Ltd. Brookfield paid $48.86 Canadian dollars (CAD) […]

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