AM Best Revises Outlooks to Stable for Genworth Financial Group's Members; Affirms Credit Ratings of Genworth Financial, Inc. and Genworth Life and Annuity Insurance Company
AM Best revised the outlooks to stable from positive for Genworth Life Insurance Company and Genworth Life Insurance Company of New York, referred to as Genworth Financial Group, while affirming their Financial Strength Rating of C++ (Marginal) and Long-Term Issuer Credit Ratings. AM Best also affirmed the credit ratings of Genworth Financial, Inc. and Genworth Life and Annuity Insurance Company.
Why it matters — GNW watchers would care because AM Best's outlook revision and rating affirmations reflect the credit assessment of Genworth's insurance operations, which underpins the company's financial standing.